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Biz News Korea(Eng)

Samyang Group enters frozen bakery business

Collected: 2017.11.03

Distributed: 2017.11.06

Source: Go Direct

[Photo by Samyang Group]

Samyang Group, South Korea’s mid-sized conglomerate focusing on food and chemical business, launched frozen bakery business in partnership with Europe’s leading frozen bakery supplier Aryzta.

The group said on Thursday its food ingredients retailing brand ServeQ will launch various Ready to Bake (RTB) products that do not require fermentation process. The pre-proofed frozen dough significantly reduces baking time, the company said, claiming that Samyang would be Korea’s first producer of RTB products.

Since May, Samyang Corp. has been selling Aryzta’s imported products in the domestic market. It completed construction of its own frozen bakery manufacturing plant and began producing test products in September and is ready to develop and manufacture its own RTB products, the company said. “We will supply various RTB products through the partnership with Aryzta and also develop our own frozen bakery products,” said an official from the company.

The global frozen bakery market was estimated at $32.5 billion as of 2016, and has been growing by 7 percent per annum. In Korea, the market is worth 1 trillion won ($898 million) excluding large-sized bakery chains.

By Kim Byung-ho and Choi Mira

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