{"slug":"cj-cheiljedang","name":"CJ제일제당","name_en":"CJ CheilJedang","ticker":"097950.KS","updated_at":"2026-07-12T04:11:30.739+00:00","canonical":"https://valuechain.wiki/cj-cheiljedang","same_as":["https://finance.yahoo.com/quote/097950.KS","https://finance.naver.com/item/main.naver?code=097950"],"citable":"밸류체인 그래프 기준 CJ제일제당의 직접 연결 기업은 4곳(관계 기준 공급 0·매출 4)이고, 사슬을 2차까지 넓히면 4곳에 닿는다. 링크의 근거 출처는 5건이며 그중 1차공시가 1건이다 (valuechain.wiki, 2026-07-12 기준).","citable_en":"Per the valuechain.wiki graph, CJ CheilJedang is directly linked to 4 companies (0 supply, 4 revenue relationships) and reaches 4 companies within two hops; the links are backed by 5 dated sources, 1 of them primary filings (as of 2026-07-12).","kicker":"코스피 · K푸드 1위·사료 아미노산 세계1위 · 소비·곡물 시계","kicker_en":"KOSPI · #1 K-food & world #1 feed amino acids · consumption-commodity clock","lead":"CJ제일제당은 햇반과 비비고로 대표되는 K-푸드 국내 1위 사업자이자, 2019년 미국 슈완스 인수로 북미 냉동식품 유통망을 확보한 글로벌 식품기업이다. 동시에 라이신·트립토판 등 사료용 아미노산에서 세계 최상위 점유율을 가진 그린바이오 기업이다. 실적은 AI 사이클이 아니라 곡물·원당 원가, 소비 경기, 아미노산 발효 스프레드라는 자체 시계로 움직인다.","lead_en":"CJ CheilJedang is Korea's No.1 K-food company behind Hatban rice and Bibigo, and a global player that secured a North American frozen-food network through its 2019 acquisition of Schwan's. It is also a green-bio leader with top world share in feed amino acids such as lysine and tryptophan. Its earnings run on a consumption-and-commodity clock (grain and raw-sugar costs, demand, amino-acid fermentation spreads), not on the AI cycle.","segments":{"fy":2025,"parts":[{"desc":"햇반·비비고. 美 슈완스 인수로 유통점 6만개. 해외 비중 ~49%","name":"식품"},{"desc":"라이신·트립토판·발린·핵산 세계 1위, 해외 95%+","name":"바이오(아미노산)"},{"desc":"CJ Feed&Care","name":"사료·축산(FNT)"},{"desc":"CJ대한통운 자회사(연결 포함)","name":"물류"}],"total":"FY2025 연결 매출 27조3,426억원(CJ대한통운 물류 포함). 본업(식품+바이오+사료) 약 18조. FY2024 영업이익 1조323억(+26%).","source":"https://dart.fss.or.kr/dsaf001/main.do?rcpNo=20260316001116","concentration":"곡물·원당 원가, 소비 경기, 아미노산 발효 스프레드 시계. 비비고 만두 美 B2C 41% 1위. AI 무관."},"segments_en":{"fy":2025,"parts":[{"desc":"Hatban, Bibigo. ~60,000 US distribution points via Schwan's. Overseas ~49%","name":"Food"},{"desc":"World No.1 in lysine, tryptophan, valine, nucleotides; ~95%+ overseas","name":"Bio (amino acids)"},{"desc":"CJ Feed&Care","name":"Feed & Care (FNT)"},{"desc":"CJ Logistics subsidiary (consolidated)","name":"Logistics"}],"total":"FY2025 consolidated revenue KRW 27.34T (incl. CJ Logistics). Core business (food+bio+feed) ~KRW 18T. FY2024 operating profit KRW 1.03T (+26%).","source":"https://dart.fss.or.kr/dsaf001/main.do?rcpNo=20260316001116","concentration":"Runs on grain/raw-sugar costs, consumer demand and amino-acid fermentation spreads. Bibigo leads the US B2C dumpling market at 41%. AI-independent."},"returns_yearly":{"2021":-17.7,"2022":1.1,"2023":-14.5,"2024":-15.7,"2025":-8.9,"2026":-9.3},"return_asof":"2026-07-10","value_chain":{"leading":[{"slug":"costco","name":"Costco Wholesale","name_en":"Costco Wholesale","tier":1,"returns_yearly":{"2021":51.8,"2022":-19,"2023":49,"2024":39.6,"2025":-5.4,"2026":6.6}},{"slug":"walmart","name":"Walmart Inc","name_en":"Walmart Inc","tier":1,"returns_yearly":{"2021":2,"2022":-0.5,"2023":12.9,"2024":74,"2025":24.5,"2026":2.6}},{"slug":"emart","name":"이마트","name_en":"E-mart Inc.","tier":1,"returns_yearly":{"2021":-18.4,"2022":-19.5,"2023":-25.3,"2024":-14.6,"2025":44.7,"2026":-7.8}},{"slug":"coupang","name":"Coupang","name_en":"Coupang","tier":1,"returns_yearly":{"2022":-49.9,"2023":10.1,"2024":35.8,"2025":7.3,"2026":-20.3}}],"benefiting":[],"analysis":"햇반·비비고로 K-푸드 국내 1위이자 2019년 슈완스 인수로 북미 냉동식품망을 확보한 식품기업이면서, 라이신·트립토판 등 사료용 아미노산에서 세계 1위(바이오 매출 95%+ 해외)를 겸한 이원 구조다. 식품은 비비고 만두가 美 B2C 41%로 1위에 오르며 코스트코·월마트·쿠팡 채널로 해외 비중을 ~49%까지 키웠고, 바이오(FY2024 매출 4.21조원)는 발효 스프레드가 실적을 가르는 글로벌 사이클 사업이다. 실적은 AI가 아니라 곡물·원당 원가, 소비 경기, 아미노산 발효 스프레드라는 자체 시계로 도는데, FY2024 영업이익 1.03조원(+26%)은 원가 안정과 아미노산 반등이 겹친 결과다. 그래프상 하류는 코스트코·월마트·쿠팡·이마트 유통과 글로벌 사료·식품사이고, 원가는 곡물·원당에 노출된다.","analysis_en":"Korea's No.1 K-food company behind Hatban and Bibigo that secured a North American frozen-food network via its 2019 Schwan's acquisition, and simultaneously a world No.1 in feed amino acids like lysine and tryptophan (95%+ of bio revenue overseas) — a dual structure. In food, Bibigo mandu leads the US B2C market at 41% and, via Costco, Walmart and Coupang channels, lifted the overseas mix to ~49%; bio (FY2024 revenue KRW 4.21tn) is a global cyclical business where the fermentation spread decides earnings. Results run on a commodity/consumption clock — grain and raw-sugar costs, demand, amino-acid spreads — not the AI cycle, and FY2024 operating profit of KRW 1.03tn (+26%) came from cost stabilization overlapping an amino-acid rebound. Downstream on the graph are Costco, Walmart, Coupang and E-mart retail plus global feed/food companies; costs are exposed to grain and raw sugar.","analysis_asof":"2026-07-10"},"edges":[{"direction":"revenue","counterparty":"글로벌 사료·식품 아미노산 고객 (비노드)","counterparty_slug":null,"confidence":"high","metric":{"type":"revenue","unit":"조원","basis":"바이오 부문 매출","value":4.21,"period":"FY2024","basis_en":"bio segment revenue"},"note":"라이신·트립토판·발린·핵산 등 사료·식품 아미노산을 글로벌 사료·식품사에 공급(세계 1위, 바이오 매출 95%+ 해외).","note_en":"Supplies lysine, tryptophan, valine and nucleotides to global feed and food companies (world No.1; ~95%+ of bio revenue overseas).","sources":[{"stance":"confirms","publisher":"DART 전자공시","publisher_en":"DART (FSS)","kind":"filing","lang":"ko","published_at":"2026-03-16","url":"https://dart.fss.or.kr/dsaf001/main.do?rcpNo=20260316001116","title":"CJ제일제당 2025 사업보고서","title_en":"CJ CheilJedang FY2025 Annual Business Report (DART)","excerpt":"바이오 부문 매출 4조2,095억원(FY2024), 사료 아미노산 세계 1위.","excerpt_en":"Bio segment revenue KRW 4.21T (FY2024); world No.1 in feed amino acids."}]},{"direction":"revenue","counterparty":"Costco Wholesale","counterparty_slug":"costco","confidence":"high","metric":{"qualifier":"sales_channel"},"note":"비비고 만두가 Costco 전국 매대 상시 SKU(포크&베지 48oz, 치킨&베지 36입 등). 美 B2C 만두시장 41% 1위.","note_en":"Bibigo mandu is a nationwide Costco staple (Pork & Veg 48oz, Chicken & Veg 36-ct), and Bibigo leads the US B2C dumpling market at 41%.","sources":[{"stance":"confirms","publisher":"DART 전자공시","publisher_en":"DART (FSS)","kind":"filing","lang":"ko","published_at":"2026-03-16","url":"https://dart.fss.or.kr/dsaf001/main.do?rcpNo=20260316001116","title":"CJ제일제당 2025 사업보고서","title_en":"CJ CheilJedang FY2025 Annual Business Report (DART)","excerpt":"식품 부문 해외 매출 5조5,814억원(슈완스 등 미국 유통).","excerpt_en":"Food segment overseas revenue KRW 5.58T (US distribution incl. Schwan's)."},{"stance":"confirms","publisher":"Costco Wholesale","publisher_en":"Costco Wholesale","kind":"news","lang":"en","published_at":"2025-05-29","url":"https://www.costco.com/p/-/cj-bibigo-steamed-dumplings-chicken-vegetable-36-count/100371275","title":"CJ Bibigo 만두 (Costco SKU)","title_en":"CJ Bibigo Steamed Dumplings, Costco SKU","excerpt":"CJ Bibigo Steamed Dumplings, Chicken & Vegetable, 36-count (Costco SKU).","excerpt_en":"CJ Bibigo Steamed Dumplings, Chicken & Vegetable, 36-count (Costco SKU)."},{"stance":"confirms","publisher":"아시아경제","publisher_en":"The Asia Business Daily","kind":"news","lang":"en","published_at":"2025-05-29","url":"https://www.asiae.co.kr/en/article/2025052809441474268","title":"비비고, 美 만두시장 41% 1위…월마트 매대","title_en":"Bibigo leads US dumpling market with 41% share, on Walmart shelves","excerpt":"비비고가 美 만두 B2C 시장 41% 점유 1위.","excerpt_en":"Bibigo leads the US B2C dumpling market with a 41% share."}]},{"direction":"revenue","counterparty":"Coupang","counterparty_slug":"coupang","confidence":"high","metric":{"qualifier":"sales_channel"},"note":"햇반·비비고 만두를 쿠팡 로켓배송에 직거래 공급(2022년 말 단가 갈등으로 중단됐다가 2024-08 재개).","note_en":"Direct B2B supply of Hatban and Bibigo mandu to Coupang Rocket Delivery, resumed Aug 2024 after a ~2-year pricing standoff that began in late 2022.","sources":[{"stance":"confirms","publisher":"물류신문","publisher_en":"KL News","kind":"news","lang":"ko","published_at":"2024-08-01","url":"https://www.klnews.co.kr/news/articleView.html?idxno=313484","title":"쿠팡-CJ제일제당, 납품 갈등 끝내고 햇반·비비고 로켓배송 재개","title_en":"Coupang and CJ CheilJedang resume Hatban/Bibigo Rocket Delivery after supply dispute","excerpt":"쿠팡-CJ제일제당, 2년여 납품 갈등 끝내고 햇반·비비고 로켓배송 재개.","excerpt_en":"Coupang and CJ CheilJedang resume Hatban/Bibigo Rocket Delivery after a ~2-year supply dispute."}]},{"direction":"cost","counterparty":"발효·제조·물류 (비공개)","counterparty_slug":null,"confidence":"mid","metric":{"qualifier":"manufacturing_logistics"},"note":"아미노산 발효·식품 제조 설비와 물류(CJ대한통운) 비용.","note_en":"Fermentation, food manufacturing and logistics (CJ Logistics) costs.","sources":[{"stance":"confirms","publisher":"DART 전자공시","publisher_en":"DART (FSS)","kind":"filing","lang":"ko","published_at":"2026-03-16","url":"https://dart.fss.or.kr/dsaf001/main.do?rcpNo=20260316001116","title":"CJ제일제당 2025 사업보고서","title_en":"CJ CheilJedang FY2025 Annual Business Report (DART)","excerpt":"제조·물류 비용.","excerpt_en":"Manufacturing and logistics costs."}]},{"direction":"revenue","counterparty":"Walmart Inc","counterparty_slug":"walmart","confidence":"mid","metric":{"qualifier":"sales_channel"},"note":"슈완스 인수(2019, 유통점 6만개)로 비비고를 월마트 등 美 대형 유통에 공급. 비비고=美 1위 한식 브랜드.","note_en":"Post-Schwan's (2019, ~60,000 US points), supplies Bibigo to Walmart and other US mass retail; Bibigo is America's No.1 Korean food brand.","sources":[{"stance":"confirms","publisher":"아시아경제","publisher_en":"The Asia Business Daily","kind":"news","lang":"en","published_at":"2025-05-29","url":"https://www.asiae.co.kr/en/article/2025052809441474268","title":"비비고, 美 만두시장 41% 1위…월마트 매대","title_en":"Bibigo leads US dumpling market with 41% share, on Walmart shelves","excerpt":"미국 로스앤젤레스 월마트 매장에서 비비고 제품을 살펴보는 소비자.","excerpt_en":"A shopper examining Bibigo products at a Walmart location in Los Angeles."}]},{"direction":"revenue","counterparty":"이마트","counterparty_slug":"emart","confidence":"mid","metric":{"qualifier":"sales_channel"},"note":"이마트 등 신세계 유통 3사와 협업, 이마트 단독 햇반 SKU(강화썸쌀밥) 출시. 국내 대형 오프라인 채널.","note_en":"Collaborates with Shinsegae's retail trio including E-mart, with an E-mart-exclusive Hatban SKU; a core domestic offline channel.","sources":[{"stance":"confirms","publisher":"톱데일리","publisher_en":"Topdaily","kind":"news","lang":"ko","published_at":"2024-06-01","url":"https://www.topdaily.kr/articles/99902","title":"CJ제일제당, 신세계 유통 3사 협업…이마트 단독 햇반","title_en":"CJ CheilJedang partners with Shinsegae retail trio; E-mart-exclusive Hatban","excerpt":"이마트·SSG닷컴·G마켓 신세계 3사와 협업, 햇반 강화썸쌀밥 이마트 단독 판매.","excerpt_en":"Collaborates with E-mart/SSG.com/Gmarket; the Hatban SKU is sold exclusively at E-mart."}]},{"direction":"cost","counterparty":"곡물·원당·유지 원재료 (비공개)","counterparty_slug":null,"confidence":"mid","metric":{"qualifier":"agri_commodity_costs"},"note":"밀·원당·대두·유지 등 농산물 원재료 원가에 노출.","note_en":"Exposed to agricultural input costs: wheat, raw sugar, soybean and edible oils.","sources":[{"stance":"confirms","publisher":"DART 전자공시","publisher_en":"DART (FSS)","kind":"filing","lang":"ko","published_at":"2026-03-16","url":"https://dart.fss.or.kr/dsaf001/main.do?rcpNo=20260316001116","title":"CJ제일제당 2025 사업보고서","title_en":"CJ CheilJedang FY2025 Annual Business Report (DART)","excerpt":"주요 원재료 곡물·원당 매입.","excerpt_en":"Key raw materials include grain and raw sugar."}]}]}