Forget K-drama. K-ice-creams are here. Should Amul and Mother Dairy worry?

The frenzy started with K-pop, the hysteria snowballed with K-drama, and the uproar climaxed with K-beauty. Now comes K-candies, the proverbial icing on the cake. Lotte India, a subsidiary of South Korean multinational confectionery major Lotte, has rolled out ice candies ‘Subak’ & ‘Shark.’ While Subak--which means watermelon in Korean--combines watermelon and strawberry flavours with chocolate-coated peanut seeds in a slice-shaped design, Shark delivers a dual orange–strawberry fusion. Welcome to the world of Korean candies and ice-creams that promises to melt GenZ with its flavourful play.

THE BIG STORY

Okay, K-candies and ice-creams are here. More innovative products, in all probability, would follow soon. And just like all ‘K’ things--pop, drama, beauty, and foods—ice-creams too might end up scripting a blockbuster tale. So, what is the fuss all about? What’s the big story about?

The big story, interestingly, is not a K-drama. It’s an Indian drama that might unfold over the next few quarters. And what makes it captivating is the way the ice-cream market has exploded over the last decade. Industry reports suggest that there has been a fourfold increase in ice-cream consumption over the past ten years. Interestingly, it’s just the tip of the iceberg (read ice-cream). The market is likely to reach Rs 45,000 crore over the next three years, and more than Rs 90,000 crore in eight years, according to latest estimates by industry body Indian Ice Cream Manufacturing Association (IICMA).

There is a scramble for the Indian market. With Lotte pressing on the gas pedal, can it rattle the Indian biggies like Amul or Mother Dairy? While the legacy Indian players are the Goliaths in the domestic market, they need much more to offer to the next wave of consumers--yes, it’s GenZ and Alpha—who are bolder in taste and experimentative in choices.

RED FLAG, WAVE & TSUNAMI

Marketing experts reckon that Lotto might not be an immediate threat but the incumbents must sit up and take notice of the K-wave. “It’s (Lotto) not a real threat. But K-wave is definitely carving a niche,” says KS Narayanan, a food and beverage expert. Just like the ayurveda wave, which started small but ended up carving a big market in the FMCG space, the Indian ice-cream market too witnessed multiple ripples. One such tide was the march of ‘natural’ ice-creams. Then there were sugar-free, artisanal and gourmet brands, and plant-based products. “Korean ice-cream too are set to create a niche for themselves,” reckons Narayanan, adding that it’s not easy to unsettle the big daddies of the Indian ice-cream but the challengers can’t be taken lightly.

Agree branding experts. Look what happened to Colgate, which first ignored the herbal and ayurvedic space, later flirted with the segment, and then shunned it completely to focus on its core. The move delighted the challengers—Patanjali and Dabur—who ramped up their presence and increased their market share.

The Indians Goliaths must be vigilant. “There is a reason why they call it K-wave,” reckons Ashita Aggarwal, professor of marketing at SP Jain Institute of Management & Research. “The leaders in the ice-cream market should remember that a wave can morph into a tsunami in a blink,” she adds. Look at what some of the biggies in India have done to address the challenge of K-wave in their respective segments: Burger King rolled out Spicy Fest in April this year; ITC collaborated with South Korean rapper, singer and songwriter Aoora for Bingo; and Nestle India rolled out Korean noodles. “The magic lies in embracing the challenge and converting it into an opportunity,” underlines Aggarwal. There is no point, she adds, sticking head in the sand.

Can Amul, Mother Dairy and other Indian players get their scoop of happiness by dishing out their version of Korean flavour? Well, the proof of the ice-cream lies in eating it. Till then, just chill.

The rollout, interestingly, is not a one-off push. The launch of Subak & Shark comes on the back of the professed success of Lotte Krunch, India’s first Korean four-layered ice cream bar. Clearly, the Indian arm of the Korean giant is in no mood to take its foot off the innovation pedal. “Building on the success of Worldcone and Krunch, Subak & Shark embody Lotte’s next phase of product innovation for India,” reportedly reckoned Rishabh Verma, head of marketing for Lotte India. The ice candies, he underlined in a media release, fuse Korean innovation to create a multisensorial snacking experience.

The intent, clearly, is to woo young consumers and GenZ. “Today’s consumers seek more than flavour. They want relevance and connection,” Verma asserted, adding that Subak & Shark capture the essence of modern snacking, and the launch marks a key milestone in Lotte’s mission to bring the spirit of K-Culture to the world. Ankit Dubey, senior brand manager of Lotte India, gives us a peep into the marketing strategy, which is broad-based. Whether its kids enjoying the playful shapes, teens creating shareable moments, or adults indulging in nostalgia, ice candies are crafted to go beyond refreshment. “It is an immersive experience that connects emotionally with consumers,” says Dubey.