Savoury Snacks in South Korea

Savoury Snacks in South Korea
Euromonitor International
July 2021
SAVOURY SNACKS IN SOUTH KOREA Passport i
LIST OF CONTENTS AND TABLES

KEY DATA FINDINGS.................................................................................................................. 1
2021 DEVELOPMENTS ............................................................................................................... 1
Korean consumers are snacking at home more than ever before ............................................ 1
Consumers are looking for sweet flavours in the fight against the “Corona blues” ................... 1
Online-only snack packages emerge with varied themes ......................................................... 2
PROSPECTS AND OPPORTUNITIES......................................................................................... 2
Stagnation expected for retail sales over the forecast period ................................................... 2
Healthy savoury snacks may redeem their reputation in A post-pandemic era ........................ 3
Collaborative products that blur product classification will stimulate consumer curiosity .......... 3
Summary 1 Other Savoury Snacks by Product Type: 2021 ............................................ 4
CATEGORY DATA ....................................................................................................................... 4
Table 1 Sales of Savoury Snacks by Category: Volume 2016-2021 ......................... 4
Table 2 Sales of Savoury Snacks by Category: Value 2016-2021 ............................ 4
Table 3 Sales of Savoury Snacks by Category: % Volume Growth 2016-2021 ........ 5
Table 4 Sales of Savoury Snacks by Category: % Value Growth 2016-2021 ........... 5
Table 5 NBO Company Shares of Savoury Snacks: % Value 2017-2021 ................. 5
Table 6 LBN Brand Shares of Savoury Snacks: % Value 2018-2021 ....................... 6
Table 7 Distribution of Savoury Snacks by Format: % Value 2016-2021 .................. 7
Table 8 Forecast Sales of Savoury Snacks by Category: Volume 2021-2026 .......... 8
Table 9 Forecast Sales of Savoury Snacks by Category: Value 2021-2026 ............. 8
Table 10 Forecast Sales of Savoury Snacks by Category: % Volume Growth
2021-2026 .................................................................................................... 8
Table 11 Forecast Sales of Savoury Snacks by Category: % Value Growth
2021-2026 .................................................................................................... 9
© Euromonitor International
SAVOURY SNACKS IN SOUTH KOREA Passport 1
SAVOURY SNACKS IN SOUTH KOREA

KEY DATA FINDINGS
▪ The retail sales performance of savoury snacks continues growing in 2021, with a gradual
rebound being seen in foodservice sales
▪ Retail sales of savoury snacks grow by 4% in volume terms to reach 165,700 tonnes and
grow by 5% in current value terms to reach KRW2.4 trillion in 2021
▪ Popcorn and pretzels both record the highest current value growth rate of 13% in 2021
▪ The average unit price of savoury snacks stagnates in current value terms in 2021
▪ Nong Shim continues to maintain its leading position in savoury snacks with a 19% retail
value share in 2021
▪ Retail sales are expected to record a 1% current value CAGR (-1% CAGR at constant 2021
prices) over the forecast period
2021 DEVELOPMENTS
Korean consumers are snacking at home more than ever before

The pandemic successfully brought the consumption of savoury snacks into the home realm
as consumers spent increased time at home during the lockdown. While the leading consumers
of savoury snacks used to be the younger generations, COVID-19 also successfully managed to
change the habits of older generations who rarely enjoyed snacking. Furthermore, government
restrictions on office gatherings further supported the growth of snacking at home as the
drinking-at-home trend captured even elderly consumers. In this sense, consumers of legal
drinking age looked for side snacks to complement their alcoholic beverages at home. As a
result, old snack brands (such as Honey Twist and Gogumakang) recorded healthy growth in
puffed snacks, and overall the sales of potato chips spiked due to being positioned as a side
snack for alcoholic beverages. These trends are set to continue in 2021 as consumers will
continue to spend more time at home, supporting the positive sales momentum of savoury
snacks. Furthermore, the new attention towards snacks from middle-aged consumers is also
leading to a relaunch of discontinued products.
Gilim International Co Ltd, the leading player in nuts, seeds and trail mixes, is on track to
continue its successful transition to the domestic retail market in 2021. Before the COVID-19
outbreak, its most well-known product, Honey Butter Almonds, was popular as a standard
souvenir among international tourists. Indeed, the company even opened several speciality
stores in select tourist destinations due to this phenomenon. While the company struggled in the
early stage of the pandemic in 2020 due to the loss of international tourists, it was successful in
establishing a strong presence in the domestic market through proactive marketing and discount
promotions. As a result, the player only lost minimal value share in 2020 due to the loss of sales
from international tourists, with it on track to start gradually gaining back share in 2021.
Consumers are looking for sweet flavours in the fight against the
“Corona blues”
Grappling with the anxiety and depression associated with the prolonged COVID-19
pandemic, Korean consumers are looking for sweet flavours in savoury snacks to improve their
mood and lower stress. In this sense, Orion Corp added a chocolate churro flavour extension for
its Turtle Chip brand, and it gained massive traction soon after its release in September 2020.
After the product became widespread online and sales exploded, many different retailers even
reported being sold out of the product. Indeed, this product was the biggest hit of savoury
snacks in the second half of 2020.
Following this trend, a sweet corn flavour is becoming widely adopted in puffed snacks. For
example, Nong Shim Kellogg Co launched Oksusukang in late 2020, an extension of its 50-
year-old Kang brand, which successfully embodied the flavour and shape of sweet corn. Lotte
Confectionery also joined in on the sweet corn fad among millennials and generation Z by
launching a Korean corn flavour for its leading brand Kokalcorn.
In this sense, vegetable, pulse and bread chips were not as aligned to consumers
preferences during the pandemic. Indeed, snacks based on natural ingredients and minimal
processing continued to lose popularity due to their lower levels of palatability as more and more
consumers were drawn to strong and addictive tastes during the pandemic. However, in 2021,
vegetable, pulse and bread chips is set to return to positive current value growth, showing a
possible gradual deterioration of the sweet flavour trend in savoury snacks.
Online-only snack packages emerge with varied themes

A spike in e-commerce due to the increased at-home snack consumption during the COVID-
19 pandemic is contributing to the emergence of a bulk packaging in the savoury snack industry.
Orion Corp pioneered the adoption of the snack package by arranging its popular snack brands
in line with consumers’ different needs according to time, place and occasion. For example, the
player created snack packages such as, the most popular snacks, energy-boosting pack,
Halloween party pack, Christmas pack and a New Year’s pack. The product package also offers
an advantage that it can also be used as a pantry shelf after the consumer opens the box.
Given the growing popularity, Lotte Confectionery also started a snack package service,
arranging its snacks depending on the flavour: original, sweet or savoury. The company
employed a proactive marketing strategy that utilised live streaming channels to reach out to the
younger generation. Meanwhile, Haitai Confectionery & Foods Co Ltd also rolled out snack
packages with unique themes for people who enjoy home cinema or for people who are working
from home, for example. However, this player’s packages are generally only available at online
e-commerce channels or the company’s own websites.
PROSPECTS AND OPPORTUNITIES
Stagnation expected for retail sales over the forecast period

Retail sales of savoury snacks are set to continue recording a positive performance in both
volume and current value terms in 2022. However, as daily life starts to return to pre-pandemic
norms, retail sales are likely to slow towards the end of the forecast period. Indeed, savoury
snacks is set to see declining retail volume growth from 2023 through the end of the forecast
period, while current value sales are set to fare better due to the ongoing premiumisation trend.
Furthermore, while foodservice sales will have already started recovery in 2021 and 2022, the
recovery is set to be more significant in 2023 as this is the year when social distancing
restrictions are expected to be entirely lifted.
When it comes to distribution channels, capitalising off the strong performance in 2020 and
2021, all distribution channels are forecast to see healthy growth over the forecast period. While
e-commerce is set to see the strongest growth in the beginning of the forecast period, it is
expected to slightly decrease towards the end of the forecast period as offline channels start to
redeem their shares.
Healthy savoury snacks may redeem their reputation in A post-

pandemic era
Healthy savoury snacks may succeed in gaining traction in South Korea over the forecast
period. In the review period, health and wellness claims failed to receive attention from South
Korean consumers as they valued the superior taste of savoury snacks and viewed these claims
as having a compromising effect on taste. However, as more consumers look for healthier or
low-calorie options as a result of gaining weight during the lockdown, health and wellness claims
may start appealing to consumers in savoury snacks.
Players are already responding with health and wellness-based launches in savoury snacks
as the pandemic likely intensified health concerns among consumers. For example, Lotte
Confectionery successfully introduced a new concept of potato chips, called air baked, which
applies an air-based baking process rather than frying. Since potatoes are not fried in oil with
this baking process, the fat content tends to be almost 60% lower than traditional potato chips.
In addition, the company attempted to target the 20-30-years-old demographic by choosing
Jennie from K-pop's biggest girl group, Blackpink, as their main brand endorser since her well-
known image is a perfect fit for the player’s target consumer.
Given the rising health consciousness, vegetable, pulse and bread chips are set to gain
traction among young female consumers in the forecast period, even though such products tend
to cost twice as much as average savoury snacks. In the forecast period, health and beauty
specialist retailers will likely remain the main offline distribution channel as it fits the healthy
product identity. In the forecast period, more players will likely use product packaging than
contains large images of raw food and a display of the calorie count to further strengthen the
healthy positioning of vegetable, pulse and bread chips.
Collaborative products that blur product classification will stimulate

consumer curiosity
The launch of collaboration products within the same food category will continue to shape the
product offer of savoury snacks in the forecast period. Indeed, collaborative products are
becoming a mainstream marketing trend that is successful in appealing to younger generations
who consider fun as an important element in the purchasing process. Since younger consumers
tend to share their own consumption experience on their social media networks, it can create a
big buzz for the entire snacking industry. Therefore, players are likely to continue launching fun
collaborative products in the forecast period as their viral social media factor stimulates sales.
Some successful collaborative launches have already been seen in South Korea. For
example, the convenience store CU and the flour manufacturer Daehan Flour Mills created
Gompyo popcorn in 2020. The product made headlines and boosted the entire popcorn industry
in 2020 and 2021. The product was named after the signature flour brand name of Daehan
Flour, Gompyo, with the same packaging design of the original flour product used on the new
product. Similarly, a salt manufacturer that has been around for over 60 years in South Korea,
Miwon, also released another popcorn product seasoned with Miwon at another convenience
store chain, GS25.
Another unique collaboration is also coming to the fore between two large food
manufacturers: Ottogi and Binggrae. The players combined their respective hit brands, Sesame
Ramen and Vegetable Time, by releasing a collaborative product, Sesame Ramen Time, in
2021. Ottogi and Binggrae are forecast to continue this strategy in the forecast period as it
allows them to target new markets with familiar brands and tastes. Furthermore, this strategy
will also reinforce the concept of fun in marketing which has been successful in stimulating
consumer curiosity via the launch of unique combinations of collaboration products.
Summary 1 Other Savoury Snacks by Product Type: 2021

Product type
Noodle snacks
Seaweed snacks
Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources
CATEGORY DATA
Table 1 Sales of Savoury Snacks by Category: Volume 2016-2021
'000 tonnes
2016 2017 2018 2019 2020 2021
Nuts, Seeds and Trail 33.4 32.1 31.3 26.0 27.8 29.4
Mixes
Salty Snacks 95.7 96.0 96.7 95.7 103.2 106.9
- Potato Chips 15.5 15.2 13.8 13.7 15.3 15.9
- Tortilla Chips 4.0 4.0 4.1 4.2 4.7 5.0
- Puffed Snacks 69.1 69.4 71.5 70.5 75.6 78.2
- Rice Snacks 6.6 6.7 6.8 6.8 7.2 7.3
- Vegetable, Pulse and 0.5 0.5 0.6 0.5 0.5 0.5
Bread Chips
Savoury Biscuits 11.0 11.6 11.9 11.3 12.1 12.4
Popcorn 5.9 6.3 6.5 6.7 8.0 9.1
Pretzels 0.6 0.7 0.8 0.9 1.0 1.1
Other Savoury Snacks 4.6 5.2 5.7 6.0 6.5 6.8
Savoury Snacks 151.3 151.8 152.9 146.6 158.7 165.7
Table 2 Sales of Savoury Snacks by Category: Value 2016-2021
KRW billion
2016 2017 2018 2019 2020 2021
Mixes
Salty Snacks 1,450.2 1,472.2 1,500.4 1,492.4 1,605.0 1,674.2
- Potato Chips 332.3 329.2 299.6 300.8 335.9 352.1
- Tortilla Chips 34.2 34.9 35.6 36.2 40.7 43.4
- Puffed Snacks 994.4 1,017.8 1,073.8 1,065.2 1,136.5 1,184.3
- Rice Snacks 72.6 73.0 73.4 73.7 77.0 79.0
Bread Chips
Popcorn 86.0 93.7 96.5 99.0 117.5 132.3
Pretzels 7.3 9.3 10.9 12.0 14.1 15.8
Savoury Snacks 2,076.7 2,110.6 2,148.3 2,081.0 2,242.2 2,348.3
Table 3 Sales of Savoury Snacks by Category: % Volume Growth 2016-2021
% volume growth
2020/21 2016-21 CAGR 2016/21 Total
Nuts, Seeds and Trail Mixes 5.5 -2.6 -12.1

Salty Snacks 3.6 2.2 11.7
- Potato Chips 4.1 0.5 2.5
- Tortilla Chips 6.0 4.6 25.2
- Puffed Snacks 3.5 2.5 13.2
- Rice Snacks 1.6 2.1 11.1
- Vegetable, Pulse and Bread Chips 3.7 -2.7 -12.8
Savoury Biscuits 2.6 2.4 12.7
Popcorn 13.2 8.8 52.6
Pretzels 11.5 15.3 103.3
Other Savoury Snacks 4.0 7.9 46.3
Savoury Snacks 4.4 1.8 9.5
Table 4 Sales of Savoury Snacks by Category: % Value Growth 2016-2021
% current value growth

2020/21 2016-21 CAGR 2016/21 Total
Nuts, Seeds and Trail Mixes 4.0 -2.2 -10.3

Salty Snacks 4.3 2.9 15.4
- Potato Chips 4.8 1.2 5.9
- Tortilla Chips 6.7 4.9 27.1
- Puffed Snacks 4.2 3.6 19.1
- Rice Snacks 2.5 1.7 8.8
- Vegetable, Pulse and Bread Chips 4.5 -1.7 -8.1
Savoury Biscuits 3.6 3.1 16.7
Popcorn 12.6 9.0 53.8
Pretzels 12.5 16.7 116.6
Savoury Snacks 4.7 2.5 13.1
Table 5 NBO Company Shares of Savoury Snacks: % Value 2017-2021
% retail value rsp

Company 2017 2018 2019 2020 2021
Nong Shim Co Ltd 16.5 17.2 18.0 18.4 18.5

Orion Corp 13.0 14.1 14.5 15.6 15.9
Haitai Confectionery & 10.8 9.9 10.1 10.0 9.8
Foods Co Ltd
Lotte Confectionery Co 9.7 10.1 10.0 9.9 9.6
Ltd
Crown Confectionery Co 8.4 9.1 9.7 9.2 8.9
Ltd
Gilim International Co 7.7 8.5 6.6 6.3 6.3

Ltd
E-Mart Inc 3.2 3.4 2.8 2.8 2.8
Nong Shim Kellogg Co 2.9 2.9 3.3 2.6 2.6
Mountain & Field 1.4 1.3 1.3 1.3 1.2
J&E Corp 0.8 0.8 0.9 1.0 1.1
Murgerbon Co Ltd 1.2 1.1 1.1 1.1 1.0
CJ Cheiljedang Corp 0.9 0.9 1.0 0.9 0.9
Ottogi Foods Co Ltd 0.7 0.8 0.8 0.8 0.8
Winners Co Ltd 0.3 0.3 0.4 0.4 0.4
Daesang Corp 0.5 0.5 0.5 0.4 0.3
Ricos Products Co Inc 0.3 0.3 0.3 0.3 0.3
Sajohaepyo Corp 0.2 0.2 0.2 0.2 0.3
Sam Yang Foods Co Ltd 0.2 0.2 0.2 0.2 0.2
Samjin Corp 0.1 0.1 0.1 0.1 0.1
Frito-Lay Co 0.0 - - - -
Sempio Foods Co Ltd - - - - -
E-Mart Co Ltd - - - - -
Other Private Label 9.9 9.3 8.9 8.8 8.9
Others 11.1 8.9 9.3 9.7 10.0
Total 100.0 100.0 100.0 100.0 100.0
Table 6 LBN Brand Shares of Savoury Snacks: % Value 2018-2021
% retail value rsp

Brand (GBO) Company (NBO) 2018 2019 2020 2021
Saewookang Nong Shim Co Ltd 4.4 4.6 5.2 5.3

Kokalcorn (Lotte Lotte Confectionery Co 4.4 4.6 4.6 4.5
Group) Ltd
Orion Poca Chips Orion Corp 4.0 4.0 4.3 4.3
(Orion Group)
Honey Butter & Gilim International Co 2.7 2.5 2.6 2.9
Other Almond series Ltd
E-Mart (Private E-Mart Inc 3.4 2.8 2.8 2.8
Label)
Pringles (Kellogg Co) Nong Shim Kellogg Co 2.9 3.3 2.6 2.6
Mat Dongsan (Crown Haitai Confectionery & 2.5 2.8 2.7 2.6
Confectionery Co Ltd) Foods Co Ltd
Turtle Chip (Orion Orion Corp 2.7 1.8 2.4 2.6
Group)
Honey Butter Chips Haitai Confectionery & 2.8 2.7 2.6 2.5
(Crown Foods Co Ltd
Confectionery Co Ltd)
Ace (Crown Haitai Confectionery & 2.1 2.2 2.2 2.2
Confectionery Co Ltd) Foods Co Ltd
Nong Shim Nong Shim Co Ltd 1.3 1.6 2.0 2.0
Crown Corn Chips Crown Confectionery Co Ltd 2.0 2.1 1.9 1.8
Honey Twist Nong Shim Co Ltd 1.8 1.7 1.7 1.7
Cheetos (PepsiCo Inc) Lotte Confectionery Co Ltd 2.0 1.9 1.6 1.5
Crown Jolypong Crown Confectionery Co Ltd 1.1 1.4 1.5 1.5
Sunchips (PepsiCo Orion Corp 1.0 1.3 1.5 1.5
Inc)
Sandle Mountain & Field 1.3 1.3 1.3 1.2
Yangpa Ring Nong Shim Co Ltd 1.2 1.2 1.1 1.2
Orion Swing Chips Orion Corp 1.2 1.2 1.2 1.2
(Orion Group)
Murgerbon Murgerbon Co Ltd 1.1 1.1 1.1 1.0

Oh Gamja (Orion Orion Corp 1.4 1.2 1.1 1.0
Group)
Crown Cham Rice Crown Confectionery Co 1.0 1.1 1.1 1.0
Series Ltd
Caramel Corn & Crown Confectionery Co 0.9 1.1 1.1 1.0
Peanuts Ltd
Ye Gam (Orion Group) Orion Corp 1.1 0.9 0.9 0.9
Jjolbyung Snack Nong Shim Co Ltd 0.8 0.9 0.9 0.9
Series
Ppushuh Ppushuh Ottogi Foods Co Ltd 0.8 0.8 0.8 0.8
Zec (Lotte Group) Lotte Confectionery Co Ltd 0.9 0.8 0.8 0.7
Gamjakang Nong Shim Co Ltd 0.5 0.6 0.7 0.7
Dodohan Nacho Orion Corp 0.6 0.6 0.7 0.7
(Orion Group)
Mat Bam (CJ Corp) CJ Cheiljedang Corp 0.7 0.8 0.7 0.6
Other Private Label Other Private Label 9.3 8.9 8.8 8.9
(Private Label)
Others Others 36.1 36.1 35.6 35.6
Total Total 100.0 100.0 100.0 100.0
Table 7 Distribution of Savoury Snacks by Format: % Value 2016-2021
% retail value rsp

2016 2017 2018 2019 2020 2021
Store-Based Retailing 97.1 96.6 96.4 95.7 94.3 93.9

- Grocery Retailers 95.2 94.4 93.7 92.7 91.0 90.2
-- Modern Grocery 68.1 67.5 68.7 70.2 68.8 68.3
Retailers
--- Convenience Stores 15.5 16.1 17.2 18.5 18.2 18.5
--- Discounters 0.0 0.6 0.9 1.0 0.9 0.9
--- Forecourt Retailers 0.0 0.0 0.0 0.0 0.0 0.0
--- Hypermarkets 35.1 32.3 30.9 30.2 28.5 28.0
--- Supermarkets 17.4 18.6 19.6 20.5 21.2 20.9
-- Traditional Grocery 27.2 26.9 25.1 22.5 22.2 21.9
Retailers
--- Food/drink/tobacco - - - - - -
specialists
--- Independent Small 27.0 26.7 24.9 22.3 22.0 21.7
Grocers
--- Other Grocery 0.2 0.2 0.2 0.2 0.2 0.2
Retailers
- Non-Grocery Specialists 0.2 0.2 0.2 0.3 0.3 0.4
-- Health and Beauty 0.2 0.2 0.2 0.3 0.3 0.4
Specialist Retailers
-- Other Foods Non- - - - 0.0 0.0 -
Grocery Specialists
- Mixed Retailers 1.7 2.0 2.4 2.7 3.0 3.3
Non-Store Retailing 2.9 3.4 3.6 4.3 5.7 6.1
- Vending 0.1 0.1 0.1 0.1 0.0 0.0
- Homeshopping - - - - - -
- E-Commerce 2.8 3.3 3.5 4.2 5.6 6.1
- Direct Selling - - - - - -
Total 100.0 100.0 100.0 100.0 100.0 100.0
Table 8 Forecast Sales of Savoury Snacks by Category: Volume 2021-2026
'000 tonnes
2021 2022 2023 2024 2025 2026
Mixes
Salty Snacks 106.9 107.8 103.4 101.3 99.5 98.0
- Potato Chips 15.9 16.1 15.5 15.3 15.2 15.1
- Tortilla Chips 5.0 5.1 4.9 4.8 4.7 4.6
- Puffed Snacks 78.2 78.9 75.3 73.6 72.1 70.8
- Rice Snacks 7.3 7.3 7.2 7.1 7.0 7.0
Bread Chips
Popcorn 9.1 9.8 9.1 8.6 8.4 8.3
Pretzels 1.1 1.2 1.2 1.3 1.3 1.3
Savoury Snacks 165.7 168.4 163.1 160.6 159.0 157.9
Source: Euromonitor International from trade associations, trade press, company research, trade interviews,
trade sources
Table 9 Forecast Sales of Savoury Snacks by Category: Value 2021-2026
KRW billion
2021 2022 2023 2024 2025 2026
Mixes
Salty Snacks 1,674.2 1,700.1 1,638.8 1,610.8 1,588.0 1,568.8
- Potato Chips 352.1 358.0 347.3 343.8 341.4 339.7
- Tortilla Chips 43.4 44.6 43.1 42.1 41.4 40.8
- Puffed Snacks 1,184.3 1,202.0 1,154.0 1,130.9 1,111.7 1,095.0
- Rice Snacks 79.0 79.6 78.2 77.5 76.8 76.4
Bread Chips
Popcorn 132.3 142.8 132.8 126.2 122.4 121.2
Pretzels 15.8 16.8 17.2 17.7 18.3 18.9
Savoury Snacks 2,348.3 2,393.8 2,325.9 2,298.0 2,280.8 2,271.2
trade sources
Table 10 Forecast Sales of Savoury Snacks by Category: % Volume Growth 2021-2026
% volume growth
2021/22 2021-26 CAGR 2021/26 Total
Nuts, Seeds and Trail Mixes 2.3 1.4 7.1

Salty Snacks 0.9 -1.7 -8.4
- Potato Chips 1.2 -1.1 -5.3
- Tortilla Chips 2.1 -1.5 -7.4
- Puffed Snacks 0.8 -2.0 -9.5
- Rice Snacks 0.3 -0.9 -4.6

- Vegetable, Pulse and Bread Chips 2.5 1.6 8.5
Savoury Biscuits 0.5 -1.5 -7.1
Popcorn 8.3 -1.9 -9.0
Pretzels 5.3 3.3 17.4
Savoury Snacks 1.6 -1.0 -4.7
trade sources
Table 11 Forecast Sales of Savoury Snacks by Category: % Value Growth 2021-2026
% constant value growth

2021/2022 2021-26 CAGR 2021/26 Total
Nuts, Seeds and Trail Mixes 1.3 1.9 10.0

Salty Snacks 1.6 -1.3 -6.3
- Potato Chips 1.7 -0.7 -3.5
- Tortilla Chips 2.6 -1.2 -6.0
- Puffed Snacks 1.5 -1.6 -7.5
- Rice Snacks 0.8 -0.7 -3.3
- Vegetable, Pulse and Bread Chips 3.0 1.9 10.1
Savoury Biscuits 1.2 -1.1 -5.4
Popcorn 8.0 -1.7 -8.4
Pretzels 6.0 3.7 19.8
Savoury Snacks 1.9 -0.7 -3.3
trade sources

Savoury Snacks in South Korea

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LIST OF CONTENTS AND TABLES

SAVOURY SNACKS IN SOUTH KOREA

Korean consumers are snacking at home more than ever before

Online-only snack packages emerge with varied themes

PROSPECTS AND OPPORTUNITIES

Stagnation expected for retail sales over the forecast period

Healthy savoury snacks may redeem their reputation in A post-

Collaborative products that blur product classification will stimulate

Summary 1 Other Savoury Snacks by Product Type: 2021

Table 2 Sales of Savoury Snacks by Category: Value 2016-2021

Table 3 Sales of Savoury Snacks by Category: % Volume Growth 2016-2021

Nuts, Seeds and Trail Mixes 5.5 -2.6 -12.1

Table 4 Sales of Savoury Snacks by Category: % Value Growth 2016-2021

% current value growth

Nuts, Seeds and Trail Mixes 4.0 -2.2 -10.3

Table 5 NBO Company Shares of Savoury Snacks: % Value 2017-2021

% retail value rsp

Nong Shim Co Ltd 16.5 17.2 18.0 18.4 18.5

Gilim International Co 7.7 8.5 6.6 6.3 6.3

Table 6 LBN Brand Shares of Savoury Snacks: % Value 2018-2021

% retail value rsp

Saewookang Nong Shim Co Ltd 4.4 4.6 5.2 5.3

Murgerbon Murgerbon Co Ltd 1.1 1.1 1.1 1.0

Table 7 Distribution of Savoury Snacks by Format: % Value 2016-2021

% retail value rsp

Store-Based Retailing 97.1 96.6 96.4 95.7 94.3 93.9

Table 8 Forecast Sales of Savoury Snacks by Category: Volume 2021-2026

Table 9 Forecast Sales of Savoury Snacks by Category: Value 2021-2026

Table 10 Forecast Sales of Savoury Snacks by Category: % Volume Growth 2021-2026

Nuts, Seeds and Trail Mixes 2.3 1.4 7.1

- Rice Snacks 0.3 -0.9 -4.6

Table 11 Forecast Sales of Savoury Snacks by Category: % Value Growth 2021-2026

% constant value growth

Nuts, Seeds and Trail Mixes 1.3 1.9 10.0

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