South Korean food company CJ Cheiljedang Corp. will launch its own “care food” brand this year that caters specially formulated meals to patients, the elderly, infants, and dieters.
CJ Cheiljedang announced on Monday that it will jump into the personalized health food market and nurture it as its new growth engine with an aim to become a leading care food supplier based on differentiated research and development capability and expertise for homemade meal replacements.
Care food is a new concept developed by CJ Cheiljedang that refers to next-generation homemade meal replacements for consumers that need specially formulated foods for dietary management due to health reasons.
CJ Cheiljedang plans to launch its own care food brand in the second half of this year and introduce 14 different types of product lineups including the five that have been developed previously. The brand will first introduce meals for patients this year and expand supply to a wider target next year.
CJ Cheiljedang, meanwhile, has recently signed a memorandum of understanding with Gangnam Severance Hospital for a business partnership. Under the agreement, CJ Cheiljedang will receive advice from the hospital on overall nutrition planning for its care food brand products before test launching meals for patients.
CJ Cheiljedang’s move to jump into the care food business comes as it projects the related industry to gain a boost in the future. The care food market in the United States that includes personalized homemade meal replacements for a wide range of consumers as well as medical food and drinks is estimated to reach 26 trillion won ($23.4 billion) annually. The market in Korea, however, is yet small and focuses on only special meals formulated for the elderly and patients at care centers and hospitals. CJ Cheiljedang plans to foster the industry as its new growth engine by integrating innovative technology and promoting advanced research and development.
By Lee Duk-joo and Lee Eun-joo
[ⓒ Pulse by Maeil Business News Korea & mk.co.kr, All rights reserved]