Targeting the 17 Trillion Won Market... Orion Expands Products of Its Indian Subsidiary

by Lee Seungjin

Published 14 Dec.2021 07:57(KST)

Orion India Corporation 'Choco Pie Strawberry Jam', 'Choco Chip Cookie' Products

[Asia Economy Reporter Seungjin Lee] Orion announced on the 14th that its Indian subsidiary is expanding its product lineup by launching ‘Choco Pie Strawberry Jam’ and ‘Choco Chip Cookies,’ and is set to actively target the local confectionery market worth 17 trillion won.

The new product, Choco Pie Strawberry Jam, following the ‘Choco Pie Original’ introduced in March, aims to capture the taste buds of local consumers with its fresh and sweet flavor. The strategy is to strengthen its market position by adding new flavors to the existing Choco Pie, inspired by the popularity of premium products made with high-quality ingredients and exotic flavors in India.

As tea culture is well-developed in India, biscuit products consumed alongside tea account for about 40% of the entire confectionery market. Accordingly, Orion India is targeting the local premium biscuit market with Choco Chip Cookies, which have established themselves as steady sellers in Korea with their sweet and rich chocolate flavor.

Rice snacks ‘An’ (local name ‘Oh! Rice’) and ‘Custard’ (local name ‘Custas’), imported from Orion’s Vietnam subsidiary, are also receiving positive responses as unique products unfamiliar to local consumers, leading to increased import volumes.

Orion entered the local confectionery market by completing a production plant in Rajasthan, India, in February this year. By sourcing products directly from the Indian factory instead of importing from the Vietnam subsidiary, they can offer fresher products. They are strengthening sales through large supermarkets and e-commerce mainly in major cities with higher income levels to target the premium market, while also expanding entry into small traditional channels.

An Orion official said, “India is the world’s second most populous country with high growth potential as a global market due to rising income levels and lifestyle changes,” adding, “Based on thorough market research, we plan to actively introduce various products that meet local consumer needs.”