Ottogi launches vegan tuna on rising demand for plant-based alternatives

Veganism is one of the hottest buzzwords in the food and beverage industry this year. 

F&B juggernauts are racing to win the hearts and tastebuds of South Korea’s 2.5 million vegans, as well as flexitarians, or those who opt for plant-based options whenever possible. 

CANNED TUNA

Ottogi Co. unveiled its plant-based canned UNTUNA Basil on Friday, leading food manufacturers’ entry into seafood alternatives. 

The “tuna” is made of soy protein and the fatty texture comes from canola oil. 

The company is running a campaign for the product on the crowdfunding site managed by Tumblbug Inc. from June 21 through July 16.

Those who missed the funding round can purchase UNTUNA Basil on Ottogi’s online site. 

In recent months, South Korea's F&B conglomerates poured capital into two main categories: the development of alternative meat and the establishment of all-vegan restaurants. 

Nongshim Co. opened its first vegan restaurant Forest Kitchen at Lotte World Mall on May 27 and has a plant-based label, Veggie Garden. 

CJ CheilJedang Corp. launched Altive earlier this month, a plant-based milk brand. Just six months prior, the F&B conglomerate unveiled the all-vegan PlanTable brand. 

Shinsegae Food, the food business subsidiary of the Shinsegae Group, launched the vegan meat brand Better Meat last July and introduced plant-based sliced ham as its first product. 

Most of the products are made within the conglomerates’ in-house startup incubators and Ottogi’s latest vegan canned tuna is no exception. 

BEYOND VEGANS

Experts say the food giants are not only targeting strict vegans. Rather, they expect the preference for a plant-based diet to increasingly become the norm. 

More people than ever are opting for vegan and vegetarian options to reduce the carbon footprint from industrial farming of animals and for health reasons. 

In the United States, flexitarians, or those who adopt a semi-vegetarian lifestyle, have been the main drivers for increased demand for plant-based foodstuff.

Food giants there have launched bean burgers, vegan eggs, and yogurt made from peas. 

International fried chicken franchise KFC is also selling vegan fried chicken, in collaboration with Beyond Meat. 

“The goal for food manufacturers is to break the negative stereotype that people have about the taste of vegan food,” an industry insider told The Korea Economic Daily.

$24.1 BILLION MARKET 

Market research firm Grand View Research, Inc. forecasts the global vegan market to balloon to $24.1 billion by 2025.

Reflecting the booming market, vegan community platform vKind will host an all-vegan cooking competition this Summer. 

While the market in South Korea is at a nascent stage, the plant-based population is only going to increase going forward.

“Veganism is going mainstream, and it's not just a fad,” Lee Eun-hee, professor of consumer studies at Inha University said. 

Write to Kyeong-je Han at hankyung@hankyung.com
Jee Abbey Lee edited this article.