Korea Ginseng Corporation and CJCJ are observed to dominate Korea dietary supplements, and functional foods and beverages market respectively in 2016
By distribution channel, convenience stores dominated the Korea nutraceuticals market in year 2016
Health segment dominated the functional food and beverages market segment in Korea.
Probiotics are expected to drive the dietary supplements market in Korea
The people of Korea have been observed to show growing concern towards their health and fitness by giving first preference to organic foods and rising disposable incomes leading to higher purchasing power, thus making nutraceuticals supplements affordable in Korea. The Korean Nutraceuticals industry has experienced a stable growth which showcases that they are open to new products to improve and as well as to maintain health. Along with organic juices, new products were launched within Ready to Drink (RTD) tea segment. Woongjin Food launched a new product called “sky barley” drink (bottled and canned) catering to the needs of children. Additionally, Kwang Dong Pharm also introduced a new type of lemon green tea constituting several anti-oxidants for boosting up the immune system of an individual.
Furthermore, food safety and other issues such as GMOs, BSE and high presence of trans-fats in daily lifestyle are some of the major concerns that are driving consumer interest towards consumption of natural foods for staying fit. The development in Korea Nutraceuticals sector is also supported by a five year development plan which aims at increasing the market share for eco-friendly products. In accordance with EU-Korea equivalence arrangement, European companies are showing high potential in Asian markets like Korea through organic foods and beverages segment carrying EU organic certification label.
Ken Research in its latest study, Korea Nutraceuticals Market Outlook to 2021 suggested herbal supplements in dietary supplements segment will continue to dominate the market during the forecast period. The preferred public interest towards herbal products being non-toxic in nature and their availability at affordable prices results in high demand for herbal supplements in Korea dietary supplements industry.
Korea nutraceuticals market is likely to showcase growth at a steady pace 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.
The report provided information on market size for Korea nutraceuticals market, Korea nutraceuticals market segmentations on the bases of dietary supplements, functional food & beverages and distribution channels, regulatory landscape, import and export scenario, trends and developments and competitive landscape.
Key Topics Covered in the Report:
Protein and Amino Acid Supplements Sales in Korea
Functional Foods Nutraceuticals and Medicines Korea
Korea Imported Nutraceutical Products
Korea Vitamin Supplement Market
Korea Market Growth Nutraceutical
Ginseng Sales in Korea
Korea Anti Oxidants Food Category Growth
Export Nutritional Supplements Korea
Omega 3 Fatty Acid Industry Size in Korea
For further information, kindly visit:
Related Reports by Ken Research
Ankur Gupta, Head Marketing & Communications