Orion India announces expansion of Korean snacks portfolio

Orion India, the India arm of South Korea’s confectionery maker Orion Holdings, is doubling down on its local portfolio of snacking products which include Choco Pie dessert snack and Turtle chips, the company’s managing director Saurabh Saith said.
The company, which entered India five years back, is expanding capacity at its existing manufacturing plant in Rajasthan, and adding new snacking products to respond to demand surge, Saith said. The snacks maker has signed actor Palak Tiwari to endorse its Turtle Chips franchise in India.
The rising popularity of Korean foods has led to large brands extending their portfolio to Korean brands, including Nestle which extended Maggi to Korean BBQ noodles in recent months and ITC which expanded its portfolio of Bingo chips to include Korean variants last week.
“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 available NielsenIQ data, by value, the Indian market for Korean noodles increased to more than Rs 65 crore last year, from just Rs 2 crore in 2021. In comparison, instant noodles grew 10% though on a much larger base.
Other Korean foods on store shelves include Hindustan Unilever’s Knorr Korean meal pots, Top Ramen’s Geki K-noodles and Moi Soi noodles and sauces.
The overall snacks market is growing rapidly in India, aided by low barriers to entry, consumer affinity to all-day snacking and local innovation, a report by market research company IMARC Group noted. According to the report, the country’s snacks market was valued at Rs 42,694.9 crore last year, and is expected to more than double to Rs 95,521.8 crore by year 2032.
Source: IndiaTimes