Product images of Dongwon F&B's ‘God of Toppoki’. (Dongwon F&B)
An instant tteokbokki from Dongwon F&B is on a path to break the 20 billion won ($16.9 million) mark in annual sales by the end of this year, backed by the global popularity of the spicy Korean street food.
Sales of “God of Topokki” as of October surpassed 18.5 billion won, the company said. The 10-month figure is a 20 percent increase from total sales generated over all of 2020.
A popular Korean snack made with rice cakes and red chili pepper, tteokbokki is often spelled differently.
According to Dongwon, the United States and Japan led sales. The products are exported to 30 countries around the globe including Japan, Australia and Southeast Asia.
Making its debut in 2016, God of Topokki is an instant tteokbokki product that can be cooked by adding hot water or putting it in the microwave. It comes in three flavors: spicy and sweet, hot spicy and cheese.
With K-pop and K-contents taking the world by storm, tteokbokki is becoming a newly favored snack for global consumers.
According to data from the Korea Customs Service, exports of tteokbokki products grew 56.7 percent year-on-year in 2020 reaching $54 million.
Local instant tteokbokki makers are enjoying the worldwide popularity.
Yopokki, an instant tteokbokki product from Young Poong Foods enjoyed a 14.5 percent on-year increase in exports last year. Similarly, Samyang Foods expanded the number of countries it exports its Buldak Topokki products to in 2019 amid a surge in international sales.
By Kang Jae-eun (firstname.lastname@example.org