CJ Bibigo targets $27 mn in 2024 sales in Korea led by street food items

Bibigo K-street food [Courtesy of CJ CheilJedang]

South Korean food manufacturer CJ CheilJedang Corp. aims to raise 35 billion won ($27 million) in sales at home this year on the back of growing popularity of street food-inspired products under the Bibigo label.

According to CJ CheilJedang on Tuesday, the monthly sales of Bibigo Bungeoppang, a fish-shaped bread with three types of fillings – red beans, custard cream, and sweet corn – surpassed 1 billion won in November and December. The item was introduced in Korea in August last year.

Sales of tteokbokki, seaweed rolls, and fried squid under the Bibigo brand also reached over 1 billion won three months after launch.

Strong demand for street snack items comes as CJ Cheiljedang designated six products including tteokbokki and corndogs as strategic items to secure a new growth engine and expand its global territory.

Bibigo street food products are also gaining popularity overseas.

Bibigo’s tteokbokki has been sold in 27 countries, including the United States, Australia, Vietnam, and Singapore, since June 2023.

Bibigo’s three frozen gimbap varieties, including kimchi cheese, introduced in Japan in March 2023, were sold 200,000 rolls within a month of launch. These products were made available in approximately 2,000 stores across major local channels, including Japan’s leading retailer AEON.