There is an increasing number of cases where manufacturers are developing raw materials that were not previously available in the local market and are now receiving new certifications. This is a major factor in cost increases within some dietary supplements, and consequently, consumer prices are rising.
Parents, particularly those in their 30s and 40s with younger children and who usually purchase family products together, whilst having high loyalty to specific ingredients and brands, will have greater purchasing power to spend on dietary supplements over the forecast period. On the other hand, “active seniors”, referred to in South Korea as consumers in their 60s and older, are also likely to become a significant target audience for category players in the coming years, especially for protein supplements and eye health supplements, as they look to adopt a preventive approach to healthy ageing in an attempt to avoid serious illness or disease.
Recording dynamic value growth in 2023 following a particularly weak performance the previous year, Korea Ginseng is set to retain its solid leadership of dietary supplements over the forecast period, due to its dominance of ginseng, the largest value category. The player struggled following the emergence of the pandemic due to decreasing duty free sales as a result of travel restrictions, although its sales remained positive during this period as they shifted to e-commerce and other channels.
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Understand the latest market trends and future growth opportunities for the Dietary supplements industry in South Korea with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Dietary supplements industry in South Korea, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
Dietary supplements
It is the aggregation of all dietary supplements: Minerals, fish oils/omega fatty acids, garlic, ginseng, ginkgo biloba, evening primrose oil, Echinacea, St John's Wort, protein supplements, probiotic supplements, eye health supplements, co-enzyme Q10, glucosamine, combination herbal/traditional supplements, non-herbal/traditional supplements, and all other dietary supplements specific to country coverage.
See All of Our DefinitionsThis report originates from Passport, our Dietary supplements research and analysis database.
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