Cooking oil is used in cooking foods such as fried dishes, Bibimbap, and salads. Among the various types of cooking oil, sesame oil and perilla oil are essential to Korean cuisine. They have been loved by Koreans as ingredients that add flavor and aroma, such as fragrant Namul Muchim (seasoned vegetables) and crispy Gim (laver), as well as health functional food rich in antioxidants such as Omega-3 and linolenic acid. With the rising global popularity of Korean food, exports of sesame oil are also increasing.

#Growth Trend of Cooking Oil Market after COVID-19

the cooking oil market size in Korea has been on a downward trend from USD 397.608 million in 2016 to USD 371.133 million in 2019.  However, as eating in increased after COVID-19, the market sized turned to a rising trend from 2020 and reached USD 423.285 million in 2021, a 5.4% increase from the previous year. As of the first half of 2021, sesame oil was USD 49.977 million, accounting for 25.9% of Korean household cooking oil market, and canola oil was USD 34.53 million, accounting for 17.9%. Next, soybean oil accounted for 16.1% with USD 34.64 million, olive oil 15.8% with USD 30.383 million, grapeseed oil 8.5% with USD 16,348 million, and perilla oil was USD 7.76 million, accounting for 4% of the market. In the first half of 2021, the market share of cooking oil products in Korea was 38.1% for CJ CheilJedang, 21.4% for Sajo Daerim, 11% for Daesang, and 6.4% for Dongwon F&B. Ottogi has the highest market share of Korean traditional cooking oil (sesame oil & perilla oil) with 45.1%, followed by CJ CheilJedang with 31.3%.

#Higher Interest in Sesame Oil and Perilla Influenced by Home Cooking
The role of cooking oil is changing as the cooking method using less oil for frying is considered with the health trend and the spread of air fryers. Olive oil, avocado oil, coconut oil, and hempseed oil are attracting attention as they are added to sauces, dressings, coffee, or smoothies, or consumed only for healthcare. Used in various Korean dishes as seasonings and dressings, Sesame oil and perilla oil are also growing in sales and interest as home cooking has increased due to the impact of COVID-19. In the first half of 2021, sales of sesame oil and perilla oil in the Korean market were USD 57.738 million (USD 49.977 million for sesame oil and USD 7.761 million for perilla oil), up 6.74% from USD 54.093 million in the first half of 2020. Popular oil products in the Korean market include ‘Traditional style Sesame Oil’ and ‘Seasoning Sesame Oil’ manufactured by Ottogi, and ‘Premium Sesame Oil’ from CJ CheilJedang. Avocado oil, coconut oil, truffle oil, and sesame oil were the most popular searched terms for cooking oil in 2020 on NAVER, the largest portal website in Korea. In 2022, sesame oil was the most popular searched term, followed by avocado oil, olive oil. and coconut oil. 

#Growing Popularity of Korean Food has also Increased the Exports of Sesame Oil 
The growing interest in cold-pressed oil products and the popularity of Korean food is also increasing the exports of Korean sesame oil. Exports of Korean sesame oil increased from 616 tons in 2019 to 971 tons in 2020 and 1,135 tons in 2021. Exports increased from USD 5.359 million in 2019 to USD 8.301 million in 2020 and USD 9.096 million in 2021. In 2021, the main importing country was the United States, importing USD 3.803 million worth of sesame oil, accounting for the largest share of the export market with 18.9%. Next is Taiwan with USD 460,000 Canada with USD 458,000, and Australia with USD 447,000. Ottogi’s ‘Savory Sesame Oil’ and CJ CheilJedang’s ‘Thick Sesame Oil’ can also be purchased through Amazon.com. As of 2021, 92 tons or USD 1.577 million of Korean perilla oil were exported. Export products are manufactured by low-temperature pressing method, such as Chang Chang Foods Co., Ltd.’s ‘Friendly Seobang Park Perilla Oil’, Komega Co., Ltd.’s ‘Raw Sesame Oil’, and Seowondang Co., Ltd.’s ‘Saint Perilla Oil’.