South Korea’s Pulmuone announced Thursday that its wholly owned US subsidiary has gained 75 percent market share in the third quarter.
Pulmuone entered the US tofu market by acquiring the nation’s top brand Nasoya in 2016 to establish nationwide distribution channels and its market share, according to Nielsen’s data, increased from 4.9 percent in 2015 to 69.5 percent that year.
Products of Pulmuone Foods USA (Pulmuone)
The company said the total sales of Pulmuone Foods USA was around $90 million in 2015 prior to the acquisition of Nasoya. The number is projected to reach $180 million by the year-end.
It noted that among the factors behind the recent growth of Pulmuone Foods USA is the global interest in plant-based protein food. Against this backdrop, tofu is grabbing the limelight as a healthy meat alternative.
Currently, Pulmuone products such as plant-based protein Superfood Skillet, which comes in two flavors Zesty Mexican Style and Savory Tuscan Style that mixed tofu, cauliflower, carrots, paprika and various vegetables, are available at Costco stores.
“We are planning to continue innovating new ready-to-enjoy plant-based protein foods to continue dominating US tofu market,” said Jong-hee Park, Pulmuone Foods USA’s category manager.
By Kim Da-sol (firstname.lastname@example.org