Orion aims to expand presence in India
A customer walks by a shelf stacked with Orion's bestseller, Choco Pie, at a grocery store in Seoul on May 11. Yonhap
By Kim Jae-heun
Confectionery giant Orion is bolstering the lineup of its products in India after setting up a factory there earlier this year.
Orion built a production plant in the state of Rajasthan in February and introduced its all-time bestseller, Choco Pie, original flavor, in March. Previously, Orion brought over its products from Vietnam to sell in India.
In the meantime, the confectioner is preparing to penetrate all of the retail channels in India: from small stores in towns to supermarkets in large cities and e-commerce platforms.
“India is a huge country with the world's second largest population. It is a global market with big potential that is going through changes in lifestyle and an increase in people's incomes,” an Orion official said.
India is a country that features a longstanding and important tea culture. Biscuit products take up 40 percent of the confectionery market, as they can be enjoyed with warm beverages.
Orion is set to target India's biscuit market, with its steady-seller Choco Chip Cookie, along with the rice cracker, O! Rice and the sponge cake, Custas.
“Based on thorough market research, Orion will introduce various snacks suited to local consumers' tastes,” the official added.
Choco Pie is without a doubt the most popular Orion snack in markets overseas. It is the first Korean snack to achieve over 100 billion won ($84.5 million) in sales. In 2020, overseas sales of Choco Pie reached 381.4 billion won. During the first quarter of this year, Orion reported 602 billion won ($508.78 million) in sales and generated 101.9 billion won ($86.12 million) in operating profit.