As cold winds blow, the food industry is in full swing with hoppang marketing. SPC Samlip is regarded as the "absolute powerhouse" in Korea's hoppang market. With domestic growth slowing and the popularity of K-food rising, SPC Samlip and other major hoppang-producing corporations are seeking to enter overseas markets.
According to related industries on the 17th, SPC Samlip's market share in Korea's mass-produced bread market reaches 70%. The flagship product "Samlip Hoppang" is said to have a similar share. Since its launch in 1971, cumulative sales of Samlip Hoppang have reached about 6.8 billion units. Annual sales amount to 100 billion won. SPC Samlip on the 28th of last month unveiled 14 new hoppang varieties, including Spicy Kimchi, Matcha Latte, and Soy Sauce Braised Chicken.
LOTTE Wellfood and Otoki, latecomers in hoppang, have moved to target niche markets. LOTTE Wellfood, the No. 2 player in Korea's mass-produced bread market, followed last year's hoppang tie-up with the tvN drama "Jeongnyeon: The Star is Born" by launching a product this year in collaboration with the IP (intellectual property) of the same company's drama "Typhoon Family." They are working to lift brand recognition on the back of the dramas' popularity.
Otoki addressed the short shelf life of conventional room-temperature hoppang by launching in September the long-term freezable hoppang "Fermented-Steamed Sweet Red Bean/Vegetable Hoppang." About 40,000 units were sold within two months of launch.
LOTTE Wellfood and Otoki are reviewing a push into global markets. They aim to find growth momentum overseas, where there is no absolute powerhouse yet. A LOTTE Wellfood official said, "As K-dramas and K-pop spread worldwide through online video services (OTT) such as Netflix and Disney+, we are strengthening brand image and competitiveness through IP-collaboration products," adding, "We are not yet exporting on a large scale, but we are exporting centered on Korean enclaves in the United States." The official added, "Depending on the response in overseas markets, we are also reviewing whether to expand export volumes."
An Otoki official said, "It is not yet the stage to fully export hoppang products, but one of our global strategies is 'exporting K street snacks,'" adding, "We are preparing exports for some product lines such as bungeoppang and hoppang, which are among winter snacks."
SPC Samlip is also accelerating its push into global markets. Samlip Hoppang is exported to 22 countries, including the United States, Canada, and Australia. An SPC Group official said, "Since 2024, we have been in full swing expanding exports of Samlip Hoppang and fresh cream bread." Samlip Hoppang has entered 40 stores of "T&T," an Asian food chain in Canada. It is also expanding cooperation with local distribution partners in Japan and Singapore.
The food industry says hoppang's entry into global markets is only taking its first steps. Consumption patterns vary by country, and overseas it must compete with dim sum, steamed buns, and dumplings. According to the Korea Customs Service, Korea's exports of bread and desserts from January to November last year totaled $404 million (about 593 billion won), up 8% from a year earlier. A food industry official said, "In the domestic market, SPC has long cemented its status as the absolute powerhouse, but overseas, the landscape will depend on who takes the lead in localization, logistics, and branding."