Forecast Period | 2025-2029 |
Market Size (2023) | USD 1175.25 Million |
Market Size (2029) | USD 1772.74 Million |
CAGR (2024-2029) | 7.05% |
Fastest Growing Segment | Vitamin |
Largest Market | Northern |
Market Overview
South
Korea Dietary Supplements Market was valued at USD 1175.25 Million in 2023 and
is anticipated to project impressive growth in the forecast period with a CAGR
of 7.05% through 2029. The South Korea Dietary Supplements Market is a vibrant
and rapidly advancing sector, marked by strong growth driven by heightened
health awareness, an aging population, and increasing lifestyle-related health
challenges. The market is witnessing significant expansion, underpinned by
growing consumer demand for health and wellness products. This rising market
value reflects a broader recognition of dietary supplements as essential to
maintaining a healthy lifestyle.
The
market is evolving with notable trends such as the growth of online sales and a
rising interest in personalized supplements. Despite facing challenges like
regulatory constraints, market saturation, and consumer skepticism, the sector
offers substantial opportunities for growth and innovation. Companies that
navigate these challenges effectively and align with shifting consumer
preferences are positioned to thrive in this dynamic market.
Key Market Drivers
Increasing Health and Wellness
Awareness
South
Koreans are increasingly adopting a proactive approach to managing their
health, driven by growing awareness of the importance of nutrition and overall
wellness. This shift is evidenced by a heightened interest in preventive
measures rather than reactive treatments. Koreans are increasingly
health-conscious, with over 30% expressing a desire to reduce their meat
consumption. Additionally, nearly 75% of meat eaters are open to incorporating
plant-based foods into their diets. According to our survey, 91% of respondents
indicated a willingness to choose plant-based options over meat in the future.
Dietary supplements are seen as a crucial component of this proactive health
management, as they provide essential nutrients that might be lacking in daily
diets. The proliferation of health-related media content, including television
programs, online articles, and social media posts, has significantly raised
public awareness about the benefits of dietary supplements. Health experts,
nutritionists, and influencers frequently discuss the advantages of various
supplements, making consumers more informed about their choices. Public health
campaigns that emphasize the importance of balanced nutrition and preventive
health also contribute to the growing demand for supplements.
There
is a notable shift from reactive healthcare, which focuses on treating existing
conditions, to preventive care, which aims to avoid the onset of health issues.
This shift aligns with the growing recognition that maintaining optimal health
through proper nutrition can prevent chronic diseases and enhance overall
well-being. Dietary supplements are integral to this preventive approach, as
they help address potential nutritional deficiencies and support various
aspects of health. The increasing popularity of wellness trends, such as
holistic health and mindfulness, has further driven interest in dietary
supplements. Consumers are more inclined to invest in products that support
their mental, physical, and emotional well-being. Supplements that promote
stress relief, mental clarity, and overall vitality align with these wellness
trends, thereby boosting their demand in the market. The rise of digital health
resources, including health apps, online forums, and virtual consultations, has
made information about dietary supplements more accessible to consumers. These
platforms provide valuable insights into the benefits and proper usage of
supplements, helping consumers make informed decisions. The availability of
online reviews and ratings also influences consumer preferences and purchasing
behavior. As health literacy improves, consumers are better equipped to
understand the role of dietary supplements in maintaining health. Educational
content from reputable sources, such as health organizations and research
institutions, enhances consumer knowledge about the scientific basis for
supplement efficacy. This increased literacy fosters greater confidence in
using supplements as part of a healthy lifestyle.
With
the increasing awareness of personalized health, consumers are seeking
supplements tailored to their specific needs. Personalized nutrition, which
considers individual health profiles, genetic predispositions, and lifestyle
factors, is becoming more prevalent. Consumers are willing to invest in
customized supplement regimens that address their unique health concerns and
nutritional requirements, driving growth in this segment of the market. Advancements
in technology, such as DNA testing and health tracking devices, facilitate
personalized nutrition. These technologies enable consumers to receive
personalized supplement recommendations based on their health data. The
integration of technology with dietary supplements enhances the appeal of
tailored solutions and supports the market's growth. Modern lifestyles,
characterized by high stress, irregular eating habits, and sedentary behavior,
contribute to an increased reliance on dietary supplements. Consumers are
turning to supplements to address nutritional gaps caused by these lifestyle
factors. For example, supplements that support energy levels, immune function,
and stress management are in high demand as people seek ways to mitigate the
adverse effects of their busy lives. The growing emphasis on fitness and
wellness, driven by cultural and social trends, also drives demand for dietary
supplements. Fitness enthusiasts and health-conscious individuals often use
supplements to enhance their performance, support recovery, and achieve their
health goals. This cultural shift towards a healthier lifestyle further fuels
the growth of the dietary supplements market.
Aging Population
The
aging population in South Korea significantly drives the growth of the Dietary
Supplements Market. This demographic shift creates specific needs and
opportunities for dietary supplements designed to address age-related health
concerns. As the South Korean population ages, there is a heightened demand for
dietary supplements that support the management of age-related health
conditions. South Korea is experiencing a severe shortage of healthcare
workers, with only 2.6 doctors per 1,000 people in 2020, significantly below
the OECD average of 3.7 (OECD Health Statistics, 2022). This shortage is driven
by a combination of demographic, geographic, political, and professional
factors. The challenges in healthcare are further compounded by the rapid aging
of the South Korean population, leading to a substantial increase in chronic
diseases and co-morbidities. By 2030, nearly a quarter of South Koreans are
projected to be 65 years of age or older (Korea Employment Information Service,
2021). This demographic shift underscores the growing demand for medical
personnel, particularly in geriatrics and primary care. Common issues among
older adults include bone density loss, joint pain, cognitive decline, and
cardiovascular health concerns. Supplements such as calcium, vitamin D,
glucosamine, omega-3 fatty acids, and antioxidants are increasingly sought
after for their potential to address these issues and support overall health. Older
adults are more focused on preventive health measures to maintain their quality
of life and reduce the risk of chronic diseases. Dietary supplements are viewed
as a proactive approach to health management, helping to prevent or alleviate
symptoms associated with aging. This focus on prevention rather than treatment
drives the demand for supplements that can support long-term health and
well-being. Health concerns are prompting South Korean consumers to boost
their consumption of plant-based foods and sports nutrition products. Although
the purchase rates for meat substitutes and dairy alternatives remain below the
global average, a growing number of consumers are opting for plant-based
alternatives. Furthermore, 32% of South Korean consumers have purchased sports
and functional nutrition products, surpassing the global average of 28%.
The
South Korean government has recognized the challenges associated with an aging
population and has implemented policies to promote healthy aging. Government
initiatives often include funding for research on aging, public health
campaigns emphasizing the importance of nutrition, and subsidies for health and
wellness products. These policies create a favorable environment for the growth
of the dietary supplements market by raising awareness and supporting consumer
access to supplements. The healthcare system in South Korea is adapting to meet
the needs of an aging population, with a growing emphasis on preventive care
and management of chronic conditions. Dietary supplements play a crucial role
in this strategy, providing supplementary nutrition that supports health
outcomes. As the healthcare system integrates these approaches, the demand for
dietary supplements is likely to increase. Older adults in South Korea are
becoming more health-conscious and are actively seeking ways to enhance their
well-being. This demographic is increasingly educated about the benefits of
dietary supplements and is more willing to invest in products that support
their health needs. Supplements that offer benefits such as improved bone
health, enhanced cognitive function, and better cardiovascular health resonate
strongly with this group. The dietary supplements market is responding to the
specific needs of older adults by offering specialized products tailored to
age-related health concerns. Innovations in supplement formulations, such as
those focusing on bone strength, joint health, and cognitive support, cater to
the evolving preferences of older consumers. Companies that develop and market
these targeted products are better positioned to capture the growing demand
from this demographic.
Older
adults often have more disposable income compared to younger demographics,
particularly those who are retired or have accumulated savings over their
lifetime. This financial stability allows them to spend more on health and
wellness products, including dietary supplements. The willingness to invest in
quality supplements to maintain health and manage aging-related issues drives
market growth. Expenditure on health and wellness is a priority for many older
adults, who view dietary supplements as a valuable investment in their quality
of life. This spending trend supports the growth of the dietary supplements
market, as older consumers prioritize products that offer tangible health
benefits. In South Korean culture, there is a strong emphasis on longevity and
maintaining vitality as one ages. Dietary supplements that promise to enhance
life quality, support active lifestyles, and contribute to a youthful
appearance align with these cultural values. This cultural focus on longevity
and well-being boosts the demand for supplements among older adults. Family and
social networks also play a role in the dietary supplement choices of older
adults. Recommendations from family members and peers, along with social norms
and expectations, influence purchasing decisions. Supplements that are
perceived as beneficial for maintaining health and social engagement are
favored in this demographic.
Rise of Lifestyle-Related
Health Issues
The
rise of lifestyle-related health issues is a significant driver of growth in
the South Korea Dietary Supplements Market. This trend is influenced by changes
in lifestyle patterns, increased prevalence of chronic diseases, and growing
consumer awareness about the role of supplements in managing health. South
Korea is experiencing a rising incidence of chronic diseases such as
cardiovascular diseases, diabetes, and hypertension, largely attributed to
lifestyle factors such as poor diet, lack of physical activity, and high-stress
levels. According to the Ministry of Health and Welfare, chronic illnesses
constitute the majority of diseases in South Korea, a situation worsened by the
healthcare system's emphasis on treatment rather than prevention. The
prevalence of chronic diseases in the country stands at approximately 24%. This
prevalence increases markedly with age, with the highest rates observed for
hypertension at 26.04%, followed by dyslipidemia at 15.59%, arthritis at
13.46%, diabetes at 10.41%, heart disease at 3.26%, and stroke at 2.21%. These
conditions create a growing demand for dietary supplements that can help manage
symptoms and prevent further health complications. Supplements such as omega-3
fatty acids, antioxidants, and vitamins are increasingly sought after for their
potential to support heart health, metabolic function, and overall well-being. Obesity
and metabolic syndrome are becoming more common due to sedentary lifestyles and
high-calorie diets. Supplements that support weight management, boost
metabolism, and promote fat loss are in high demand. Products such as fat
burners, appetite suppressants, and metabolic enhancers cater to consumers
looking to manage their weight and improve metabolic health.
The
fast-paced and high-pressure environment in South Korea contributes to elevated
stress levels, which are linked to various health issues including anxiety,
depression, and insomnia. Dietary supplements that address stress management,
enhance mood, and support cognitive function are becoming more popular.
Ingredients like adaptogens, B vitamins, and herbal extracts that promote
relaxation and mental well-being are gaining traction among consumers seeking
relief from stress-related health problems. In recent decades, mental health
has emerged as a growing concern in South Korea. A 2021 survey by the Ministry
of Health and Welfare revealed that 32.7% of males and 22.9% of females in
South Korea have experienced symptoms of mental illness at least once in their
lives. As stress and mental health issues become more prevalent, there is a
growing interest in supplements that support cognitive function and mental
clarity. Products containing nootropic ingredients, such as ginkgo biloba,
ginseng, and omega-3 fatty acids, are designed to enhance cognitive
performance, memory, and overall mental health. This trend reflects a broader
focus on maintaining cognitive health amidst the pressures of modern life. Modern
dietary patterns, characterized by convenience foods, high sugar and fat
intake, and low consumption of fresh fruits and vegetables, contribute to
nutritional deficiencies and imbalances. Several studies have indicated that
Korean eating patterns have shifted over the past decade. Between 2011 and
2019, there was a decline in the consumption of grains, vegetables, fruits, and
alcoholic beverages, while the intake of beverages and meat increased. As
consumers become more aware of these deficiencies, there is increased demand
for dietary supplements that provide essential nutrients. Multivitamins,
minerals, and specific nutrient supplements like vitamin D and omega-3 fatty
acids are popular among those seeking to correct dietary imbalances and improve
overall nutrition. There is a growing interest in functional foods that offer
health benefits beyond basic nutrition. Dietary supplements that are fortified
with functional ingredients, such as probiotics for gut health, and dietary
fibers for digestive support, cater to consumers looking for products that
enhance their well-being. This trend towards functional nutrition supports the
expansion of the dietary supplements market.
In
South Korea, there is a strong cultural emphasis on health and wellness, driven
by both traditional beliefs and modern lifestyle trends. Consumers are
increasingly adopting holistic approaches to health, including the use of
dietary supplements as part of a broader wellness regimen. This cultural focus
on maintaining optimal health and managing lifestyle-related issues contributes
to the growth of the dietary supplements market. The rise of fitness and beauty
trends also drives demand for dietary supplements. Consumers interested in
improving their physical appearance and fitness levels often turn to
supplements that support muscle growth, energy levels, and skin health. Products
like protein powders, collagen supplements, and energy boosters align with
these trends and cater to consumers seeking to enhance their fitness and beauty
regimens. The increased accessibility of health information through digital
platforms has raised consumer awareness about the role of dietary supplements
in managing lifestyle-related health issues. Health apps, online health forums,
and social media provide valuable information on the benefits and proper use of
supplements. This heightened awareness drives informed purchasing decisions and
contributes to market growth. As consumers become more educated about the
health benefits of dietary supplements, they are more likely to incorporate
these products into their daily routines. This education fosters greater trust
in supplements as effective tools for managing health and preventing
lifestyle-related diseases.
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Key Market Challenges
Regulatory Hurdles
The
South Korean government imposes strict regulations on the production,
marketing, and sale of dietary supplements. While these regulations ensure
product safety and quality, they also create significant barriers for market
entry and expansion. Companies must navigate complex approval processes and
adhere to rigorous standards, which can be time-consuming and costly. This
regulatory burden can stifle innovation and discourage new entrants from
entering the market.
Frequent
changes in regulatory policies can create uncertainty for businesses. Keeping
up with evolving regulations requires continuous monitoring and adaptation,
which can strain resources, especially for smaller companies. The need to
constantly update product formulations, labeling, and marketing strategies to
comply with new rules can disrupt business operations and slow down market
growth. International brands face additional challenges when entering the South
Korean market due to regulatory differences. They must ensure that their
products meet local standards, which may differ significantly from those in
their home countries. This often involves reformulating products, changing
packaging, and undergoing local testing and certification processes, all of
which can be costly and time-consuming.
Market Saturation and
Competition
The
South Korea dietary supplements market is highly competitive, with numerous
local and international brands vying for market share. Established players with
strong brand recognition and extensive distribution networks dominate the
market, making it difficult for new entrants to gain traction. Intense
competition can lead to price wars and reduced profit margins, which can deter
investment and innovation.
Certain
segments of the dietary supplements market, such as vitamins and minerals, are
nearing saturation. With a plethora of products available, consumers have a
wide range of choices, leading to brand loyalty challenges for companies.
Market saturation can also result in slower growth rates as the demand reaches
a plateau, making it challenging for businesses to sustain high growth levels. In
a saturated market, differentiation becomes crucial for success. Companies must
continuously innovate to stand out from the competition. However, developing
new and unique products requires significant investment in research and
development. The pressure to innovate can strain resources and may not always
result in successful products, adding financial risk to companies.
Consumer Skepticism Regarding
Product Efficacy and Safety
The
proliferation of misinformation and misleading claims about dietary supplements
can lead to consumer skepticism. Exaggerated marketing claims and unverified
testimonials can erode trust in the industry. Consumers may become wary of the
efficacy and safety of supplements, leading to reduced demand and slower market
growth.
Reports
of adverse events related to dietary supplements can significantly impact
consumer confidence. Negative publicity from product recalls, contamination
incidents, or health scares can damage the reputation of the entire industry.
Even isolated incidents can create widespread apprehension among consumers,
leading to a decline in sales. A lack of comprehensive consumer education on
the benefits and proper use of dietary supplements contributes to skepticism.
Many consumers are unaware of the scientific evidence supporting the efficacy
of certain supplements or how to use them correctly. This lack of knowledge can
result in misuse, ineffective results, and ultimately, disillusionment with
dietary supplements.
Key Market Trends
Personalized Nutrition
The
trend towards personalized nutrition is revolutionizing the dietary supplements
market in South Korea. Consumers are increasingly seeking supplements tailored
to their specific health needs, genetic profiles, and lifestyle choices.
Advances in technology, such as genetic testing and AI-driven health
assessments, enable the creation of customized supplement regimens. This
personalization ensures that consumers receive targeted nutrients, enhancing
the efficacy and appeal of dietary supplements.
The
demand for unique, individualized products is particularly strong among
health-conscious South Koreans who prioritize optimal wellness. Personalized
supplements, often delivered through subscription models, cater to this demand
by providing convenience and specificity. Companies that invest in personalized
nutrition platforms are likely to see higher customer loyalty and satisfaction,
driving market growth. The integration of dietary supplements with wearable
health technology further fuels this trend. Wearable devices that track health
metrics such as sleep patterns, activity levels, and nutrient intake provide
valuable data for tailoring supplement recommendations. This synergy between
technology and nutrition enhances consumer engagement and fosters a more
proactive approach to health management.
Increasing E-Commerce
Penetration
The
rise of e-commerce is significantly transforming the dietary supplements market
in South Korea. Online platforms offer unparalleled convenience, allowing
consumers to easily browse, compare, and purchase a wide range of supplements
from the comfort of their homes. The accessibility of e-commerce platforms
caters to the fast-paced lifestyles of South Koreans, driving the popularity of
online shopping for dietary supplements.
Digital
marketing and social media play a crucial role in promoting dietary
supplements. Influencers, health bloggers, and online reviews influence
consumer purchasing decisions, making social media a powerful tool for
supplement brands. Companies leverage these platforms to reach a broader
audience, create brand awareness, and build trust with consumers. E-commerce
platforms facilitate subscription and auto-replenishment models, which are
gaining traction among consumers seeking convenience and consistency. These
models ensure a steady supply of supplements, reducing the likelihood of
consumers running out of their preferred products. This recurring revenue
stream benefits companies by enhancing customer retention and lifetime value.
Growing Emphasis on Preventive
Healthcare
There
is a growing emphasis on preventive healthcare in South Korea, driven by
increasing awareness of the long-term benefits of maintaining good health. This
cultural shift towards wellness is supported by government initiatives, public
health campaigns, and media coverage that highlight the importance of
preventive measures, including the use of dietary supplements.
The
aging population in South Korea is a significant factor driving the focus on
preventive healthcare. Older adults are more prone to chronic diseases and
health conditions that can be mitigated through proper nutrition and
supplementation. Vitamins, minerals, and other dietary supplements play a vital
role in preventing deficiencies and supporting overall health in this
demographic. Corporate wellness programs are also contributing to the emphasis
on preventive healthcare. Employers are increasingly recognizing the importance
of employee health and are incorporating dietary supplements into their
wellness initiatives. These programs not only improve employee well-being but
also enhance productivity and reduce healthcare costs, benefiting both
employees and employers.
Segmental Insights
Product Type Insights
Based
on the category of Product Type, the Vitamin segment emerged as the dominant in
the market for South Korea Dietary Supplements in 2023. In South Korea, there
is a strong cultural emphasis on preventive healthcare and maintaining overall
well-being. Vitamins, being essential nutrients, are widely recognized for
their role in supporting immune function, enhancing energy levels, and preventing
deficiencies. This awareness drives consumers to incorporate vitamins into
their daily routines to proactively manage their health. Modern lifestyles,
characterized by high stress levels, irregular eating habits, and limited
exposure to natural sunlight, have led to an increase in vitamin deficiencies
among the South Korean population. For instance, Vitamin D deficiency is common
due to limited sun exposure. Similarly, urban diets often lack sufficient
amounts of essential vitamins such as Vitamin B and Vitamin C. This prevalence
of lifestyle-related health issues fuels the demand for vitamin supplements as
a means to counteract these deficiencies.
South
Korea has one of the fastest-aging populations in the world. As people age,
their nutritional needs change, and they become more susceptible to various
health conditions that can be mitigated by adequate vitamin intake. Vitamins
such as B12, D, and calcium are particularly important for the elderly to
maintain bone health, cognitive function, and overall vitality. The aging
demographic significantly contributes to the sustained demand for vitamin
supplements. The South Korean government has implemented stringent regulations
to ensure the safety and efficacy of dietary supplements. These regulations
instill confidence among consumers regarding the quality and authenticity of
vitamin supplements available in the market. Additionally, government
initiatives promoting public health and nutrition often emphasize the
importance of vitamins, further driving consumer trust and adoption.
The
vitamin segment benefits from continuous innovation and product
diversification. Companies invest in research and development to create
advanced formulations that cater to specific health needs, such as
multivitamins tailored for women, men, children, and seniors. There is also a
growing trend towards organic and natural vitamin supplements, which appeals to
health-conscious consumers seeking clean and sustainable options. Vitamins are
heavily marketed through various channels, including television, online
platforms, and in-store promotions. Celebrity endorsements and influencer
partnerships play a significant role in shaping consumer preferences and
driving sales. The visibility and persuasive power of these marketing efforts
amplify the appeal of vitamin supplements among South Koreans. These factors
are expected to drive the growth of this segment.
End User Insights
The
Adults segment is projected to experience rapid growth during the forecast
period. Adults in South Korea are increasingly health-conscious and proactive
about maintaining their well-being. This demographic is highly aware of the
benefits of dietary supplements in supporting overall health, preventing
diseases, and enhancing quality of life. Health awareness campaigns, government
initiatives, and media coverage on the importance of nutrition and supplements
contribute to this heightened awareness. The fast-paced, high-stress lifestyle
prevalent among South Korean adults, especially those living in urban areas,
leads to increased reliance on dietary supplements. Busy work schedules,
irregular eating habits, and limited time for balanced meals result in
nutritional gaps that supplements can effectively fill. Vitamins, minerals, and
other supplements are seen as convenient solutions to ensure adequate nutrient
intake amidst hectic routines. As the South Korean population ages, adults
become more focused on addressing age-related health concerns such as weakened
immune systems, joint and bone health, and cognitive function. Dietary
supplements tailored to these specific needs, such as calcium, omega-3 fatty
acids, and antioxidants, are in high demand. The adult segment, particularly
those in their middle ages and beyond, prioritizes supplements to manage and
mitigate the effects of aging.
Fitness
and physical appearance are significant motivators for South Korean adults to
use dietary supplements. The cultural emphasis on maintaining a youthful and
fit appearance drives the demand for products that support weight management,
muscle building, and skin health. Protein powders, collagen supplements, and
fat burners are particularly popular among adults aiming to enhance their
physical fitness and aesthetic appeal. Adults typically have higher disposable
incomes compared to younger demographics, enabling them to spend more on health
and wellness products. Economic stability allows for discretionary spending on
dietary supplements, often considered non-essential yet highly beneficial. This
financial capability drives the purchase of premium and specialized supplements
that promise superior health benefits.
The
South Korean government’s stringent regulations ensure the safety, efficacy,
and quality of dietary supplements. This regulatory environment builds trust
among adult consumers, who are more likely to invest in supplements that are
government-approved and scientifically validated. Trust in product safety and
effectiveness is crucial for sustained market growth within the adult segment. Advancements
in technology and the rise of personalized nutrition have significantly
influenced the adult segment’s consumption of dietary supplements. Personalized
supplements, based on individual health profiles, genetic predispositions, and
lifestyle factors, cater specifically to the unique needs of adults. This
customization enhances the appeal of dietary supplements, making them more
relevant and effective for adult consumers. These factors collectively
contribute to the growth of this segment.
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Regional Insights
Northern
emerged as the dominant in the South Korea Dietary Supplements market in 2023,
holding the largest market share in terms of value. The Northern Region is home
to a significantly higher population density compared to other parts of South
Korea. Seoul, the capital city, along with its neighboring cities, constitutes
a vast urbanized area with millions of residents. This high population density
creates a substantial consumer base, driving the demand for dietary
supplements. Urban residents are generally more health-conscious, with a
greater inclination towards preventive healthcare and wellness products,
including dietary supplements. Seoul and its metropolitan area are economic
powerhouses, contributing a major portion of the country’s GDP. The region's
economic prosperity translates into higher disposable incomes for its
residents. With greater financial capability, consumers in the Northern Region
can afford to spend more on health and wellness products, including
high-quality and premium dietary supplements. This economic advantage fosters a
thriving market for such products.
The
Northern Region boasts advanced healthcare infrastructure with numerous
hospitals, clinics, and wellness centers. This infrastructure not only provides
easy access to healthcare services but also promotes a culture of health
awareness and preventive care. Healthcare professionals in this region are more
likely to recommend dietary supplements to their patients, contributing to
increased consumption. Residents of the Northern Region typically have higher
education levels, which correlate with greater awareness of health and wellness
trends. Educated consumers are more likely to understand the benefits of
dietary supplements and are proactive in incorporating them into their daily
routines. Additionally, the presence of numerous educational institutions and
research centers in Seoul fosters a culture of continuous learning and
awareness about the latest health trends and products.
The
Northern Region has a well-developed retail infrastructure with numerous health
and wellness stores, pharmacies, and supermarkets offering a wide range of
dietary supplements. Additionally, the region leads in e-commerce penetration,
with consumers increasingly purchasing supplements online. The convenience and
accessibility of both physical and online retail channels significantly boost
the dietary supplements market. Due to its large and affluent consumer base,
the Northern Region is a prime target for marketing and promotional activities
by dietary supplement companies. These companies invest heavily in advertising,
both online and offline, to capture the attention of health-conscious
consumers. The high visibility of these marketing campaigns further drives
consumer interest and sales in the region.
Recent Developments
- In
May 2024- Leading dietary supplement companies, including CJ Wellcare and CKD
Health, are introducing new products in both pill and shot formats throughout
South Korea.
- In
May 2024, Researchers in Korean ginseng are developing new varieties and
farming tools, while ginseng companies are investing in international marketing
efforts to boost demand for the crop. According to South Korea’s Rural
Development Administration (RDA) and the Korean Ginseng Corporation (KGC),
ginseng sales have been sharply declining due to factors such as extreme
weather caused by climate change, which affects crop growth, and a saturated
global health-supplement market.
- In
January 2024, Boston-based startup Ayana Bio has entered into a seven-figure
joint development agreement with Wooree Green Science, a biotech firm and
subsidiary of Korean conglomerate Wooree Bio, to develop saffron and other
bioactives through plant cell culture. Founded in 2021 with $30 million in
funding, Ayana Bio emerged from synthetic biology specialist Ginkgo Bioworks
and represents a new wave of startups focused on producing high-value
ingredients from plant cell lines in bioreactors. This method is touted for its
potential to ensure a consistent supply of botanicals, such as aloe vera,
vanilla, cocoa polyphenols, echinacea, and lemon balm, while mitigating the
supply chain challenges inherent in traditional agriculture.
Key Market Players
- Bayer
Middle East FZE
- Nestlé Middle East FZE
- New Country Healthcare LLC
- Abbott Laboratories S.A.
- Ultramade Nutrition and beverages
Factory
- Quest Vitamins Middle East FZE
- MicroSynergy Pharmaceuticals FZCO
- Geltec Pharmacare FZCO
- Pharmatrade LLC
- Medysinal FZCO
|
By
Product Type
|
By
Form
|
By
Application
|
By
End User
|
By
Distribution Channel
|
By
Region
|
- Vitamin
- Combination
Dietary Supplement
- Herbal
Supplement
- Fish
Oil & Omega Fatty Acid
- Protein
- Others
|
- Tablets
- Capsules
- Powder
- Liquids
- Soft
Gels
|
- Energy
& Weight Management
- General
Health
- Bone
& Joint Health
- Immunity
- Others
|
- Infants
- Children
- Adults
- Pregnant
Females
- Geriatric
|
- Pharmacies
and Drug Stores
- Supermarkets
and Hypermarkets
- Online
- Others
|
|
Report Scope:
In this report, the South Korea Dietary Supplements
Market has been segmented into the following categories, in addition to the
industry trends which have also been detailed below:
- South Korea Dietary Supplements Market, By Product Type:
o Vitamin
o Combination Dietary Supplement
o Herbal Supplement
o Fish Oil & Omega Fatty Acid
o Protein
o Others
- South Korea Dietary Supplements Market, By Form:
o Tablets
o Capsules
o Powder
o Liquids
o Soft Gels
- South Korea Dietary Supplements Market, By Application:
o Energy & Weight
Management
o General Health
o Bone & Joint Health
o Immunity
o Others
- South Korea Dietary Supplements Market, By End User:
o Infants
o Children
o Adults
o Pregnant Females
o Geriatric
- South Korea Dietary Supplements Market, By Distribution Channel:
o Pharmacies and Drug Stores
o Supermarkets and
Hypermarkets
o Online
o Others
- South Korea Dietary Supplements Market, By
Region:
o Northern
o Southern
o Central
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in the South
Korea Dietary Supplements Market.
Available Customizations:
South Korea
Dietary Supplements market report with the given market data, Tech Sci
Research offers customizations according to a company's specific needs. The
following customization options are available for the report:
Company Information
- Detailed analysis and profiling of additional
market players (up to five).
South Korea
Dietary Supplements Market is an upcoming report to be released soon. If you
wish an early delivery of this report or want to confirm the date of release,
please contact us at [email protected]