In 2024, the total snack sales were KRW 1.7 trillion, a slight 0.05% year-over-year decline. Even though the overall industry remains stagnant, performance varied by brand. Private-label snacks dropped 3.2% to KRW 103.3 billion, while “other brands” – those that are new/emerging, limited-edition, and imported – experienced a 0.5% year-over-year growth and make up over 50% of the market. The varied performance illustrates that in the Korean snack market, consumers remain trend-sensitive when it comes to snacks and constantly seek new products and experiences.
Read our Korea’s MZ Generation report
Consumers seeking new brands, limited-edition items, and imported snacks
Even though there are many long-established snack companies like Lotte, Orion, and Haitai, many young Koreans are continuing to seek new products and experiences. This has driven demand for new flavors, textures, and ingredients, limited-edition products, and imported snacks. Because new tastes change rapidly, many brands act very quickly to capitalize on trends. For example, when the global matcha trend spread to Korea, many snack brands rushed to launch new matcha-based products. A similar pattern occurred with Dubai chocolate, where viral social media attention quickly translated into rapid new product launches. Overall, Korean consumers are increasingly seeking new experiences and becoming more open to foreign products, flavors, ingredients, etc.
Health as a priority now and in the future
Amid South Korea’s low fertility rate and aging population, the snack industry is expanding its target audience from children to adults. With health as a crucial purchasing factor among adults, companies have been innovating their products to make them healthier.
Growing demand for healthier snacks
In the past, Koreans associated “healthy eating” as very restrictive and unpleasant. Today, they are embracing “healthy pleasure” (헬시 플레저), seeking wellness without compromising pleasure or enjoyment. This also applies to the Korean snack market, with consumers seeking products that give them a pleasurable quick energy boost, stress relief moment, or “treat myself” moment.
Low-sugar or no-sugar snacks in demand
Korean consumers are increasingly seeking snacks that are low in sugar, high in protein, and low in calories. Sweeteners like stevia, allulose, and aspartame are getting attention as consumers are more conscious of their sugar intake and blood sugar spikes.
High-protein snacks for more than just gym-goers
Moreover, protein has also been receiving attention among younger consumers. In the past, protein was more popular for middle-aged and older adults who wanted to build muscles. However, demand for protein has been expanding into the younger MZ Generation (MZ세대). Brands have been launching products in various formats, such as chips, cookies, and crackers, making protein consumption more enjoyable.
Low-calorie products in a beauty-conscious culture
Weight management remains a key priority in Korea’s appearance-focused society. Many people who are on a diet seek snacks that they are filling, low in calories, and easy to eat throughout the day. As a result, more brands are releasing products with fewer calories and highlighting them in their packaging. One notable brand is Lala Sweet, which is known for its low-calorie ice cream. Its milk ice cream, for example, only has 330 calories per 474 milliliters, significantly fewer than Häagen-Dazs’ 810 calories per 414 milliliters.
Competing in the rapidly changing Korean snack market
- Korea’s well-established brands are facing more pressure and need to adapt their products to appeal to the MZ Generation, who chase new flavors, textures, formats, ingredients, etc. This opens opportunities for foreign brands that can bring unique, authentic, and fun experiences.
- Speed matters. Korean brands tend to rapidly react to new trends – such as the matcha and Dubai chocolate craze – to stay relevant.
- Health remains a priority in the Korean snack market, and it is expected to stay the same in the future. As Korean consumers adopt more diverse lifestyles and have more specific health needs, snacks are expected to continue innovating and diversifying.
