High Demand for Candy and Chocolate Despite High Prices
Paying Premiums Amid SNS Trends
The premium trend has reached candies and chocolates, which have long been considered snacks for children. While premium snacks are not typically associated with "value for money," the willingness of the MZ generation (Millennials and Generation Z) to pay more for products that offer special experiences, combined with the social media (SNS) culture of sharing and validation, is rapidly driving the spread of these products.
Swedish Candy and Crystal Candy: High Prices, Growing Demand
The "Crystal Cluster" from SilkyGem in the United States, gaining popularity on social media. SilkyGem official website
See's Candies, an American chocolate and candy brand, has become popular among Korean consumers who seek "small luxuries" despite high inflation. The brand's signature "Lollypop Assorted" set, which contains 12 pieces, is priced at 47,000 won, while the "Awesome Nut & Chew Bar" set, with 8 pieces, costs 65,000 won. See's Candies first opened in Los Angeles, United States, in 1921. In 1972, Warren Buffett, the legendary investor and CEO of Berkshire Hathaway, acquired the company, which has since also been known as "Buffett Candy." Every year at the shareholders' meeting, Buffett places See's Candies products alongside Coca-Cola, demonstrating his affection for the brand.
Some premium products have gained popularity through word of mouth on social media. One such example is "Swedish Candy." Produced by the Swedish dessert brand Bubs, this product is known for its soft yet chewy texture. A foreign TikToker posted a video of eating Swedish Candy at a specialty candy store in New York, which went viral. Following this, Korean YouTubers began posting related mukbang content. Swedish Candy is not officially distributed in Korea and is mainly purchased through overseas direct shipping. The price for 500 grams is around 40,000 to 50,000 won.
The "Crystal Cluster" from the American brand SilkyGem also gained attention through YouTube. With its jewel-like sparkling appearance, it has earned the nickname "edible gemstone." Its distinctive feature is the unique texture that crisply shatters in the mouth. On the official U.S. online store, it sells for about $35 (approximately 50,000 won) per set, but in Korea, it is traded for over 100,000 won.
Rising Demand for Premium Chocolate Following Candy
The premium trend has also taken over the chocolate market. Last year, "Dubai Chocolate," which experienced a supply shortage, began attracting attention after a popular TikToker's video surpassed 60 million views. "Dubai Chocolate" is made by combining pistachio cream and kadaif, and originates from the United Arab Emirates (UAE) brand Fix Dessert Chocolatier. Locally, it is priced at about 65 dirhams (around 25,000 won) per piece, but in Korea, it has been sold at two to three times the local price.
According to market research firm Horizon Grand View Research, Korea's premium chocolate market was valued at approximately $203 million (about 288.7 billion won) last year, and is projected to grow to around $299.6 million (about 426.1 billion won) by 2030. The compound annual growth rate from this year through 2030 is expected to reach 8.4%. Global market research firm Mordor Intelligence also analyzed in its report, "Korea Chocolate Market Size and Share Analysis," that "as consumers pursue 'small luxuries' and prefer high-quality products, premium chocolate brands are experiencing growth." The report added, "Consumers are willing to pay for premium products made with high-quality ingredients, high cocoa content, and minimal artificial additives."
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