Data from South Korea's Ministry of Agriculture, Food and Rural Affairs reveals a significant increase in the export of snacks and beverages. In the first 11 months of 2024, total exports surpassed $1.3 billion. Snack and candy exports hit a record $706 million, a 16.5% increase, while beverage exports rose 14.9% to $609 million.
In response to this growing demand, South Korean confectionery companies are expanding their global presence. Lotte Wellfood reported that overseas sales of its flagship "Pepero" chocolate sticks exceeded domestic sales for the first time in the first half of 2024. To further boost production and meet international demand, Lotte plans to operate a new Pepero facility in India later this year.
Orion is also considering establishing a factory in the United States to produce its popular Turtle Chips, catering to the increasing demand.
