Korea and China... As COVID-19 Anxiety Grows, Sales of 'Healing Foods' Soar

Fear of Epidemic Increases Psychological Stress
Snack and Ice Cream Sales Soar in Both Korea and China
Donut Sales on Gmarket Jump 785% Year-on-Year in One Month

[Asia Economy Reporter Choi Saeng-hye] As the novel coronavirus disease (COVID-19) spreads worldwide, 'healing foods' that temporarily soothe anxiety are gaining popularity. This is due to the psychological pressure on people intensifying amid the flood of negative information following the outbreak. In particular, in China, where the cumulative number of COVID-19 cases exceeds 80,000, and in South Korea, with about 8,000 cases, sales of healing foods such as snacks and ice cream have noticeably increased.

According to data released by the Korea Agro-Fisheries & Food Trade Corporation's Shanghai office on agricultural food export information on the 13th, during the Lunar New Year holiday (January 24?30), when COVID-19 was spreading, ice cream sales in China increased by 30%, and convenience store snack sales rose by 17%. The frequency of making beverages at home also increased by 7%.

In South Korea, sales of confectionery and desserts to relieve emotional anxiety and stress surged. On the open market Gmarket, donut sales increased by a remarkable 785% compared to the previous year during the recent one-month period (February 10?March 11). Cake and muffin sales also rose by 103%, and ice cream sales increased by 93%. Sales of pie-type snacks increased by 61%, snacks by 53%, and jelly by 47% respectively.

At Market Kurly, a fresh food specialty mall, dessert and snack sales increased by 107% compared to the previous year from January 20, when the first domestic COVID-19 case was confirmed, to the 10th of this month. The growth rates by major categories were snacks, chocolate, and cereal (149%), tea and coffee (125%), and rice cakes and traditional Korean sweets (115%).

Convenience stores also showed an upward trend in ice cream and snack sales. At GS25, from January 20 to the 10th of this month (excluding February 29 and March 1), ice cream sales grew by 18.5% year-on-year, and snack sales increased by 19.1%. At CU, ice cream sales rose by 10.1%, and snack sales by 9% compared to the previous year.

Additionally, according to data compiled by the food company Orion, online sales last month grew by 92% compared to the same period last year. Orion's online sales last month also increased by 15% compared to January. Orion analyzed, "With the recent focus on the 'stay-at-home economy' and the 'homebody' lifestyle, consumers are increasingly purchasing snacks through online channels such as Coupang and Gmarket."

Meanwhile, as COVID-19 spreads across all regions, consumers seeking health functional foods to boost immunity are steadily increasing. In China, sales of health foods increased by 11% after the COVID-19 outbreak. In South Korea, overall health functional food sales on Gmarket increased by 37% year-on-year during the recent one-month period (February 10?March 11). Sales of honey, red ginseng, and ginseng increased by 63%, nutritional supplements by 62%, and health juices by 31%.

Marketing research firm Kantar stated, "Similar to the periods of the novel flu and Middle East Respiratory Syndrome (MERS), if the importance of immunity is continuously considered and the need for health functional foods is persistently felt, it is highly likely that rapid growth will occur this year without major surprises," adding, "The health functional food market is expected to continue growing by about 5?9% this year.”

This content was produced with the assistance of AI translation services.