Increased Snack Consumption Amid COVID-19... Gum and Candy Sales Decline Due to Reduced Outings

[Asia Economy Reporter Kiho Sung] It has been found that cookie consumption increased due to the spread of the novel coronavirus infection (COVID-19). However, gum sales significantly decreased as outings reduced and mask-wearing increased.

According to Nielsen Korea on the 7th, sales in the snack sector of the confectionery industry in the first quarter amounted to 397.863 billion KRW. This is an 8.89% increase compared to 365.393 billion KRW in the same period last year.

Along with this, biscuit sales increased by 4.48%, from 405.875 billion KRW in the first quarter of last year to 424.048 billion KRW in the first quarter of this year.

Sales growth is also clear by company. Orion's consolidated sales rose 8.5%, from 497.6 billion KRW in the first quarter of 2019 to 539.8 billion KRW in the first quarter of this year.

Nongshim also recorded 99.3 billion KRW in snack sector sales in the first quarter, a 14% growth compared to the same period last year.

Additionally, Haitai Confectionery's sales grew 2.1%, from 157.3 billion KRW in the first quarter of last year to 160.7 billion KRW in the first quarter of this year, and Crown Confectionery's sales increased 1.2%, from 99.7 billion KRW to 100.9 billion KRW in the same periods.

On the other hand, gum sales decreased by 17.65% compared to the same period last year, amounting to 46.364 billion KRW.

Candy sales also declined by 4.67%, recording 135.958 billion KRW compared to the same period last year.