Contraction of the Pickles Market and Expansion of Demand for Prepared Dishes and Ready-to-Eat Meals

「The overall pickles market has been contracting since peaking in the 1990s, due to factors including declining rice consumption as diets have diversified and Japan's declining birth rate and aging population. Although demand temporarily increased as a result of stay-at-home consumption, the market has been affected by consumers' cost-consciousness amid rising food and energy prices. The company sells products made primarily from vegetables, including namul and salads, in the prepared-foods category. In recent years, consumers have become more cost-conscious and are eating out less, increasing the tendency to purchase prepared foods and eat at home. Eating patterns have also changed as the number of elderly and single-person households and dual-income households has increased, and demand for prepared foods is expected to continue expanding.」