‘Just Drop One In’: Coin Broth Shakes Up the Seasoning Market

Domestic Seasoning Retail Sales Double in Five Years
Coin Broth Fuels Market Expansion, Challenges Powder Seasonings
Baeksul “1-Minute Ring” and Cheongjeongwon “Soup Base One Grain” See Sales Rise

Coin broth, which intensifies broth flavor with a disc the size of a coin, is disrupting the seasoning market landscape. Coin broth has not only become a mainstream product, doubling the size of the seasoning market in just five years, but has also grown to a level that threatens the dominance of traditional powder seasonings.

According to Market Link data cited and released by Korea Agro-Fisheries & Food Trade Corporation (aT) via FIS Food Industry Statistics Information on September 25th, retail sales of seasonings in South Korea exceeded 90 billion won in the first quarter of this year for the first time on record. On an annual basis, the domestic seasoning market, which stood at around 180 billion won in 2021, more than doubled to 361.5 billion won last year.

Baeksul 'One-Minute Ring in Broth' Six Broth-Type Products. Provided by CJ CheilJedang

Among Cheongjeongwon's 'Matseonsaeng Gukmulnaegi Hanall' products, the anchovy dried fish product is the most popular. Provided by Daesang.

Recently, the seasoning market has been expanding around coin broth products. Coin broth is a fourth-generation seasoning that freeze-dries soup base ingredients such as anchovies, kelp, and vegetables, compressing them into a coin-shaped solid unit per serving. As the number of dual-income and single-person households increases, there is growing consumer demand for convenient seasonings to prepare meals quickly and easily without much cooking, fueling the growth of the coin broth market.

The domestic seasoning market is said to have evolved over four generations across 70 years, starting with Daesang’s “Miwon” in 1956. The market began with first-generation chemical seasonings, followed in the 1970s by the introduction of beef powder-based second-generation seasonings such as CJ CheilJedang’s “Dashida.” In the 2010s, third-generation liquid seasonings became popular, and by the 2020s, fourth-generation coin broth products using freeze-drying technology became commercialized.

The rise of coin broth is so significant that it is shaking the dominance of traditional powder seasonings. By brand, CJ CheilJedang’s Dashida, the top-ranking product by retail POS transactions, recorded retail sales of 27.5 billion won in the first quarter of this year—a decline of more than 10% year-on-year. Meanwhile, Daesang’s Miwon, ranked second, booked 13.8 billion won in the first quarter, a 3.2% increase compared to the same period last year, but its sales have remained largely unchanged for several years.

In contrast, the third- and fourth-largest brands by retail sales, CJ CheilJedang’s Baeksul and Daesang’s Cheongjeongwon, have seen rapid growth over the past five years. Baeksul has grown by 1,700% during this time, while Cheongjeongwon achieved a 137% increase. Both brands primarily focus on their respective coin broth products, “1-Minute Ring for Broth” and “Matseonsaeng Soup Base One Grain.”

In particular, in the first quarter of this year, Baeksul’s retail sales reached 13.7 billion won, nearly catching up with Miwon’s 13.8 billion won. On an annual basis, last year saw both Baeksul and Cheongjeongwon’s retail sales approach 50 billion won each, closing in on Miwon’s 63.5 billion won.

Baeksul’s “1-Minute Ring for Broth,” launched by CJ CheilJedang in September 2023, has grown by about 300% over the past three years. In just three years, the “1-Minute Ring for Broth” has developed into a lineup of 14 products, including seven broth types, three menu categories, and four powder sticks. Daesang Cheongjeongwon launched “Matseonsaeng Soup Base One Grain” in 2022 and now offers eight varieties, catering to diverse consumer tastes. “Matseonsaeng Soup Base One Grain” recorded a 75% sales increase last year compared to 2023.

For both companies, the most popular flavor among their coin broth products is anchovy and dried sardine (“myeolchidepory”). This indicates a significant number of consumers are choosing the deep-flavored coin broth made with anchovy and dried sardine.

In line with rising global demand, the industry is actively targeting overseas markets with coin broth products. CJ CheilJedang exports Baeksul’s “1-Minute Ring for Broth” to over 10 countries, while Daesang Cheongjeongwon, through its global food brand O’Food, is selling “Matseonsaeng Soup Base One Grain” mainly in Western markets such as the United States, Canada, and Australia. Both companies emphasize that these products can be used not only for Korean soups but also in dishes like pasta and soup, appealing to local cuisines.

An industry official said, “Because it dissolves quickly, is easy to use, and convenient to store in the cooking process, its growth is outpacing other forms like powders or liquids. Although overseas sales are still in the early stages, they are expected to steadily expand on the back of the growing global popularity of K-food.”

This content was produced with the assistance of AI translation services.