One of the hottest trends these days, value consumption is a rational consumption method based on the value one aims for. Young people in their 20s and 30s especially pursue consumption through the value of ‘environment’. This is also a global trend, and the vegan market is gradually expanding in Korea as well. As such, the vegan market is establishing itself as an axis of the global agricultural product consumption market.

#Vegan market led by the younger generation
Vegan means complete vegetarians who don’t eat any animal products. Going beyond vegetarianism, it also includes people who do not use animal-derived products in their entire lives. Such vegan has recently become a hot topic in the agricultural product market, as young people in their 20s and 30s are paying more attention to value consumption. Atmosphere of emphasis on health, environment, and ethical values such as animal protection is spreading around them. It is no longer strange to see young people eat pasta made with Dubu (tofu) noodles, hamburgers made with vegetable substitutes, and wearing eco-friendly clothes. For this reason, the vegan market is also rapidly growing.
The world’s vegetarian population is estimated at 180 million, with 9.27 million in the United States, 7.38 million in Germany, and 3.66 million in the UK. Recently, China and Brazil have been emerging as vegetarian countries, where vegans are becoming more interested in vegetarianism for a healthy life. According to the Korea Vegan Union, the number of vegetarians in Korea is estimated at 1.5 million as of 2018. This is a tenfold increase compared to 150,000 in 2008. This phenomenon in Korea is greatly thanks to the younger generation. In the ‘2021 Processed Food Segmentation Market Status – Vegan Food’ published by the Korea Agro-Fisheries & Food Trade Corporation (aT) this year, “The interest in vegan food is growing more prominent with the younger generation, because they react sensitively to lifestyle and trends promoted by influencers through Instagram and YouTube, and they have a strong tendency to express their values and beliefs during consumption.”

#Vegetarian meat substitutes stand out in the vegan market
Vegan food is divided into certified vegan food and plant-based alternative meat. The size of vegan market can be inferred from plant-based meat substitutes. The global plant-based alternative meat market has grown at an average annual rate of 9.6% since 2016 to USD 6.071 billion in 2020. Korea has a similar trend. According to a recent ‘Alternative Meat Perception Survey’ conducted by Shinsegae Food on 1,000 Koreans in their 20s and 30s, 67.6% of the respondents said they had a positive view of alternative meat. As the reason for consuming substitute meat, environmental preservation had the highest rate with 71.4% of the respondents. As such, the size of the plant-based alternative meat market in Korea is USD 17.4 million in 2020, an increase of 23.7% from USD 14.1 million in 2016. In addition, 612 products in total received vegan certification from the Korea Agency of Vegan Certification and Services, from 2018 to 2021. Among them, 286 products received vegan certification in 2021, an increase of 151% compared to 2019. In line with this trend, major Korean food companies are also entering the vegan market with a focus on alternative meat. Nongshim launched Veggie Garden, an alternative meat brand, and is preparing a vegan restaurant as the first Korean food company. Also, CJ Cheiljedang launched 100% plant-based Bibigo Mandu (dumpling) through its plant-based food brand, PlanTable, and Pulmuone drew attention by manufacturing Dubu noodles instead of flour noodles. All three products are currently being exported to the United States and other countries. Along with this, Shinsegae Food released sliced ham in introducing ‘Better Meat’ as a pork substitute brand, and in only three months after the release of sandwiches using sliced ham at Starbucks, it reached a cumulative sales volume of 200,000 products. 

#What are in Korean vegan food?
Recently, various vegan foods have been launched in Korea. Zikooin Company developed ‘UNLIMEAT’ as Korea’s first plant-based meat substitute brand and distinguished itself early in the vegan market. Recently, it printed soybean oil letters on FSC-certified paper. BAO FOOD introduced vegan curry using gluten-free Dodam rice. Whole Blending developed plant-based vegan protein powder, and INTAKE launched soymilk made with 100% Korean non-GMO soybeans. GHIRUM is exporting vegan Kimchi without salted fish to Europe, the United States, and Hong Kong. In addition, Samyook Foods made banana-flavored soy milk, Amilky made Korea’s first plant-based ice cream, Vicell made vegan yogurt, and FOODIES launched Korea’s first brown rice chips using organic brown rice, causing a new sensation in the vegan market. 
Vegan events are also held regularly in Korea. This year, Veginomics Fair-Vegan Festa was held under the slogan ‘IT IS A GOOD LIFE’ in February, and the Korea Vegan Fair sponsored by the Ministry of Food and Drug Safety is scheduled for July. Vegan Festa is Korea’s first vegan expo with 150 firms participating in 2022, and it is estimated that more than 20,000 people attended. This proves that vegan culture is slowly spreading in Korean society. The day that people around the world can pay attention to various vegan festivals in Korea when the COVID-19 pandemic ends is highly anticipated.