Korean rice gains overseas traction as CJ frozen range surpasses $73M in U.S. sales

Industry

Published: 30 Oct. 2023, 10:51 Updated: 30 Oct. 2023, 11:49

Korean rice gains overseas traction as CJ frozen range surpasses $73M in U.S. sales

CJ CheilJedang's Korean-style frozen fried rice available in three varieties: vegetable with kimchi, K-BBQ chicken, and shrimp with soy garlic. [CJ CHEILJEDANG]

Sales of CJ CheilJedang's frozen rice products produced and sold in the United States have surpassed 100 billion won ($73.9 million) for this year, the Korean food manufacturer announced Monday.

Since its acquisition of Schwan's in 2019, which enabled it to establish a comprehensive cold chain distribution system across the United States, the company experienced a threefold increase in sales over the four-year period.

CJ CheilJedang's frozen rice product lineup, featuring offerings such as chicken with Korean BBQ, vegetables with kimchi and shrimp with soy garlic, is produced at the Schwan's Vermont factory and made available through major retail channels such as Walmart, Kroger, and Target.

CJ CheilJedang attributed the popularity of their frozen rice products in the United States to the adaptation of Korean culinary culture to suit local consumer tastes.

"We added flavors such as Korean BBQ sauce, kimchi, and garlic to the most popular fried rice flavors in the United States, including chicken, vegetables and shrimp," CJ CheilJedang explained.

The company also cited the rise in the consumption of rice-based processed foods in the United States. According to data from the Ministry of Agriculture, Food and Rural Affairs, rice-based processed food exports to the United States increased by 28.2 percent compared to the previous year, making it one of the largest contributors among various countries.

Looking forward, the company has set a sales target of more than 130 billion won by the end of the year.

CJ CheilJedang has also noted an uptick in the exports of their domestically-produced frozen rice products.

Their export value grew by an annual average of 22 percent from 2021 to the present year. Additionally, the number of export destinations has increased from 7 countries in 2017 to 17 at present.

BY SEO JI-EUN [seo.jieun1@joongang.co.kr]