Banana-flavored snack cakes known as ‘pies’ in Korea are rising as a new ‘hot item’ in the snack market. (Image : Yonhap)
SEOUL, April 14 (Korea Bizwire) – Banana-flavored snack cakes known as ‘pies’ in Korea are rising as a new ‘hot item’ in the snack market.
Lotte Confectionery announced that it sold more than 15 million of its ‘Mon Cher Choco & Banana’ snacks, which it launched in March.
The popularity of the product also boosted interest in the original Mon Cher, with sales rising more than 30 percent in March and more than 45 percent in April.
Lotte Confectionery added that Mon Cher Choco & Banana topped the charts as the top-selling pie snack at Seven Eleven for three weeks. As a result, the company decided to increase output of the product by 150 percent. The company will invest 10 billion won to increase production, and sales during this month are expected to reach 30 million units.
Officials at Lotte comment that banana flavors harmonize well with soft cream, making the new ‘pie’ product a hit with consumers. The pie market, which had been shrinking, is expected to increase more than 15 percent to reach 300 billion won.
Currently, Mon Cher is in competition with Orion’s Choco Pie. Both companies recently released banana-flavored products that are gaining popularity.
By Lina Jang (linajang@koreabizwire.com)
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