In 2021, rice cake production reached 430,000 tons, representing a significant increase of 36% compared to the 310,000 tons produced in 2020. This growth is even more remarkable when compared to the 230,000 tons produced in 2017, representing an increase of about 87%. Hangwa also reported a 25.8% increase in production to 58,988 tons in 2021, up from 46,901 tons in 2020. The production value was KRW 81.8 billion, up 5.7% from KRW 77.4 billion in the previous year. Hangwa production status is 12,944 tons for KRW 82.4 billion in 2017, 15,048 tons for KRW 91.6 billion in 2018, 44,249 tons for KRW 86.3 billion in 2019, and 46,901 tons for KRW 77.4 billion in 2020.
In 2021, the export volume of rice cakes and hangwa reached 20,551 tons, with a total export value of USD 71.82 million. Among them, rice cakes accounted for USD 65.85 million, accounting for 91.7% of the total, while traditional Korean sweets accounted for USD 5.97 million, accounting for 8.3%. Exports increased by 14.9% in volume and 20.1% in value compared to the previous year. Rice cakes accounted for 96.8% of total exports, while hangwa accounted for 3.2%. Both the volume and value of exports have been steadily increasing every year, with rice cakes experiencing the most significant growth. The share of rice cake exports increased by 10.4%, from 86.4% in 2017 to 96.8% in 2021, while the share of export value increased by 21.4%, from 70.3% in 2017 to 91.7% in 2021. It's noteworthy that the exports of rice cakes and hangwa have increased more than three times compared to 2017. The export value of hangwa in 2021 was USD 5.97 million, with an export volume of 648 tons.

In 2021, the revenue share among rice cake manufacturers was as follows: Pulmuone 26.9%, Stoa Brand 16.1%, Mijung 12.8%, Chilgap Nongsan 10.7%, and Songhak Food 5.6%. Among rice cakes, Tteokbokki rice cakes accounted for 71.6% with sales of KRW 1,121 billion, Tteokguk rice cakes accounted for 23.3% with sales of KRW 365 billion, and other varieties accounted for 5.0% with sales of KRW 79 billion in 2021. As for hangwa, three prominent companies stand out: Shinung Hangwa, Damyang Hangwa and Gyodong Hangwa. All three have received quality certification as traditional Korean food manufacturers that focus on master craftsmanship.
In terms of rice cake preferences, respondents favored Injeolmi (bean powder coated rice cake) at 48%, followed by Songpyeon (half-moon rice cake) at 35.5%, Sirutteok (steamed rice cake) at 33.2%, Baeksulgi (snow white rice cake) at 25.8%, and Jeolpyeon (patterned rice cake) at 24%. Hangwa preferences leaned toward yumilgwa at 11.4%, gangjeong (sweet rice puffs) at 10%, and jeonggwa (root in sweet sauce) at 3%. Products with high future purchase intentions included Injeolmi at 41.8%, Sirutteok at 31.4%, Songpyeon at 27.4%, Baeksulgi at 25.8% and yakshik at 22.2%. Hangwa preferences were Gangjeong at 13%, Yumilgwa at 12.2% and Jeonggwa at 6%.