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Pulmuone's U.S. tofu sales jump 11 pct in 2018

All Headlines 16:37 January 13, 2019

SEOUL, Jan. 13 (Yonhap) -- South Korean food producer Pulmuone Co. said Sunday that its tofu sales in the United States shot up 11 percent on-year in 2018, fueled by strong consumer demand.

One of the country's leading food companies said it its local affiliate, Pulmuone Foods USA, Inc., sold 98.2 billion won (US$88 million) worth of bean curd last year. It said data by leading global corporate information firm showed it had a market share of 73.8 percent in December. This placed it firmly in first place in the North American country's tofu market.

The company said growing demand for healthy food is fueling strong sales in the world's largest economy. It added that diversification of products and aggressive marketing have contributed to sales.

Pulmuone bought Nasoya Foods USA, LLC, which had a presence in the vast market in 2016, and have since developed numerous tofu dishes that can appeal to American consumers.

This file photo shows various tofu peroducts sold by Pulmuone's U.S. affiliate, Nasoya Foods. (Yonhap)

The growth comes as sales of tofu in Northeast Asia has remained more or less unchanged in recent years.

The company said it will increase research and development to create more products that can satisfy the palates of Americans and strive to attain at least 12.3 percent annual growth in 2019 to push up sales to 100 billion won mark.

Related to sales, global analysis store Research and Markets said in 2018, that the overall tofu market will grow an average of 4.05 percent on-year worldwide up till 2023, as people move to other types of protein other than those coming from meat.
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