South Korean food giant Pulmuone’s US affiliate Pulmuone Foods USA said Tuesday it has secured deals with 18 major US university campuses to supply plant-based foods.
Pulmuone had forayed into the US market in 2014, working with one of the US’ largest college food service providers UMass Dining to supply plant-based food products such as vegan steaks to universities and restaurant chains.
Under its partnership with UMass Dining, the food giant signed a contract to supply its plant-based products to the University of Massachusetts Amherst starting in November 2021. Pulmuone’s business portfolio has since expanded to include 18 campuses throughout the Eastern and Western coasts of the US, the food company said.
Meanwhile, Pulmuone has been expanding operations in the US, signing supply deals with large supermarket chains such as Albertsons, Vons and Pavillions in the second quarter. It has also logged an 86 percent increase in its sales of Asian noodle products, and has expanded its tofu production facilities in California, in November 2021, according to the food company.
The demand for plant-based foods in the US has been on a constant rise, with the market growing 16 percent annually for three years between 2018 and 2021, according to data from the Plant Based Foods Association.
“Our plan is to leverage the steady demand from university food service chains and the recovering industry of restaurants to expand the overall volume of our B2B business in the U.S.,” said CEO of Pulmuone Foods USA Cho Kil-su. “The extension of our local tofu production capacity and the rapid sales increase of our Asian noodle products will also accelerate the quantitative growth and the profitability improvement.”