The spicy and sweet summer delicacy naengmyeon is facing increased competition in the market. Attention is focused on the ranking competition between the top product, Paldo Bibimmyeon, and other bibimmyeon, while Samyang Foods has also revamped its bibimmyeon and launched it after a year.
As a result, this year, the bibimmyeon market is expected to be a five-way battle among Paldo Bibimmyeon, Bae Hong-dong (Nongshim), Jin Bibimmyeon (OTOKI), Dumisik Bibimmyeon (Harim), and Samyang Foods' "Maptaeng Cool Spicy Bibimmyeon."
According to the distribution industry on the 14th, fierce competition is expected over the top bibimmyeon market this year. The Korea Agro-Fisheries & Food Trade Corporation predicted that the domestic bibimmyeon market size will increase from 75.7 billion won in 2015 to around 180 billion won this year.
The focal point is the absolute powerhouse in the bibimmyeon market, Paldo Bibimmyeon, and its competitor, Bae Hong-dong from Nongshim. Since its launch in 1984, Paldo Bibimmyeon has been leading the bibimmyeon market, but its market share is on the decline. Paldo Bibimmyeon's market share was once as high as 80%, but has dropped to around 53% as of June last year due to the influx of new entrants.
Nongshim's Bae Hong-dong is a representative example. Since its launch in 2021, it has secured the second-largest market share in the bibimmyeon market. As of June last year, its market share was reported to be around 20%.
Paldo Bibimmyeon and Bae Hong-dong plan to continue the competition by releasing new products. Paldo Bibimmyeon has focused on health, planning to attract consumers with 'Paldo Bibimmyeon Zero Sugar' by using allulose instead of sugar. Bae Hong-dong's strategy is somewhat different. They have changed the noodle texture, introducing Bae Hong-dong Kal Bibimmyeon. The noodles are characterized by a diamond shape that allows consumers to experience both thick and thin textures simultaneously. The dry noodles, which are air-dried rather than fried, provide the unique smoothness and high density of dry noodles.
The competition for the 3rd and 4th positions is also fierce. Harim's Dumisik Bibimmyeon and OTOKI's Jin Bibimmyeon are representative examples. Dumisik Bibimmyeon targets the market with the existing model Lee Jung-jae. Harim's Dumisik Bibimmyeon is recognized as a successful product within the Dumisik series. OTOKI has changed the model of Jin Bibimmyeon, employing celebrity Choi Hwajung, known for promoting eating deliciously, healthily, and in large quantities.
A variable is the Maptaeng Cool Spicy Bibimmyeon from Samyang Foods, which is set to be launched at the end of March. Samyang Foods halted the production of its previously sold bibimmyeon last year but is now re-entering the bibimmyeon market with a new product. The characteristic is that it carries the Maptaeng brand, strengthening the strategy associated with the 'Map (MEP)' universe. The map series aims to create a second growth opportunity following the success of Buldak Bokkeum Myeon.
In the distribution industry, there is keen interest in how much market share Maptaeng Cool Spicy will capture in its first year. If it takes market share from Bae Hong-dong, it will strengthen Paldo's position as the leader, whereas if it captures market share from Paldo Bibimmyeon, it could help in boosting Bae Hong-dong's rise. Additionally, if it takes market share from Jin Bibimmyeon or Dumisik Bibimmyeon, the gap between the top two and the rest could widen further.
An industry official noted, "Aggressive marketing strategies through bundling could change the market landscape," adding, "The results this summer will depend on how much each food company prepares for marketing and to what extent collaboration with distribution companies is possible."