Orion India, the Indian subsidiary of South Korea’s confectionery giant, Orion Holdings, is expanding its range of local snack products. This includes the popular Choco Pie dessert snack and Turtle chips, as stated by the company’s Managing Director, Saurabh Saith.
The company, which ventured into India five years ago, is increasing the production capacity at its current manufacturing facility in Rajasthan and introducing new snack products to meet the growing demand, according to Saith. The snack manufacturer has enlisted actor Palak Tiwari to promote its Turtle Chips brand in India.
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The growing popularity of Korean cuisine has prompted major brands to diversify their offerings with Korean-inspired products. For instance, Nestle recently introduced Korean BBQ noodles under its Maggi brand, while ITC expanded its Bingo chips range to include Korean varieties just last week.
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“To differentiate from existing competition and the number of similar products which exist in potato chips and tortilla chips, we need to break the clutter,” Saith said.
According to the latest NielsenIQ data, the market value of Korean noodles in India surged to over INR 65 crore last year, up from a mere INR 2 crore in 2021. In contrast, the overall instant noodles market grew by 10%, albeit from a significantly larger base.
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Other Korean food items available on store shelves include Hindustan Unilever’s Knorr Korean meal pots, Top Ramen’s Geki K-noodles, and Moi Soi noodles and sauces.
The snacks market in India is expanding quickly, supported by easy entry for new players, a consumer preference for all-day snacking, and local innovations, as highlighted in a report by market research firm IMARC Group. The report states that the Indian snacks market was valued at INR 42,694.9 crore last year and is projected to more than double to INR 95,521.8 crore by 2032.
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