Increasing priority towards health and wellness coupled with inclining demand for probiotics to Drive Nutraceuticals Market in Korea
The report titled “Korea Nutraceuticals Market Outlook to 2021 – Rising Trust over Herbal Ingredients with Increasing use of Ginseng in Functional Foods to Foster Future Growth” by Ken Research suggested that nutraceuticals market in Korea would showcase a steady growth during the forecast period owing to the fast aging rate of population of Korea. It is estimated that the most of the Koreans spend their leisure time in watching TV, resting and playing games on the internet, resulting in rapid aging effects. The per capita expenditure towards healthcare has also been one of the major driving forces for growing nutraceuticals market in Korea.
Traditional herbal medicines are based on classic Korean literature. In accordance with BMC Complementary and Alternative Medicine, 38.9% study participants reported the use of traditional Korean herbal medicines including the usage of herbal plants. The herbal and traditional ingredients are broadly classified into three sub-categories namely dietary supplements, medicated skin care and medicinal teas.
The most widely used herbal supplement is Korean ginseng, distributed across the whole country in the form of liquid, powders and capsules, and is considered to be an energizer, normalizer and stress reducer. The herb has a very positive effect in turning the whole body healthy. It has been used to lower cholesterol, treat diabetes, depression and sharpen the mind and memory. Kwangdong Pharmaceutical Co Ltd is one of the largest Korean traditional herbal medicine manufacturers.
Korean red ginseng is majorly used to ward off fatigue and stress, boost immune system, prevent ailments caused by viruses and bacteria and potentially improve erectile dysfunction in men with increased alertness. In addition, it is also used to treat impotence and can help in preventing colorectal cancer. Furthermore, traditional herbalists in Korea treat children whose growth is stunted with extracts of astragalus membranaceus, phlomis umbrosa and eleutherococcus senticosus, which collectively forms as HT042 in Korea, to create a positive impact by strengthening their bones.
The revenues of Korea nutraceuticals market are observed to continuously increase at a steady pace during the historical period. Priority towards health and wellness with the help of nutritional products has amplified demand for nutraceuticals in Korea during this period. Red ginseng has been observed as one of the major supplements sold in the Korean nutraceuticals market, which is consumed with the aim to strengthen the body’s ability to fight off infections, improve sexual performance and overall quality of life.
Key Topics Covered in the Report:
Competition in Korea Nutritional Supplement
Korea New Developments in Herbal Supplements Market
Herbalife Performance in Korea
Licorice Medicine Sales in Korea
Korea Nutritional Supplements Market Competition
Vitamins and Dietary Supplements in Korea
Korea Functional Beverage Market
Herbal Supplements Market in Korea
Future Korea Nutraceutical
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Ankur Gupta, Head Marketing & Communications