Korea Nutraceuticals Market Outlook to 2021: Ken Research

1
Korea Nutraceuticals Market Outlook to 2021 Ken
Research
2
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 focuses
on overall market size for Korea nutraceuticals
market, market segmentations on the bases of
dietary supplements, functional food beverages
and distribution channels, dietary supplements
sub-segmentation by type of supplements,
functional foods and beverages sub-segmentation
by product category.
3

• The report also covers Government regulations for
  nutritional and dietary supplements in Korea,
  import and export scenarios of nutritional and
  dietary supplements in Korea, trends
  developments in the market and competitive
  landscape of major players in Korea
  nutraceuticals market. The report concludes with
  market projection for future and analyst
  recommendation highlighting the major
  opportunities and cautions.
• Korea Nutraceuticals Market Size
• The overall nutraceuticals industry of Korea
  generated revenue worth USD million in 2016.
  The market recorded growth at a CAGR of
  inclining from USD million in the year 2011.
  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 bodys ability to fight off
  infections, improve sexual performance and
  overall quality of life.

4
Tendency to work for longer shifts and spending
more than average annual hours on work has
accentuated the requirement to adopt a healthy
lifestyle in Korea. Korean consumers strongly
consider that the regular use of dietary
supplements create a positive impact on their
health and hence, driving the overall market. By
Dietary Supplements, and Functional Foods and
Beverages Dietary supplements dominated the Korea
nutraceuticals industry with revenue share of
in 2016. The growth behind dietary supplements
market is largely supported by increasing trust
over herbal or traditional ingredients. With the
growing demand for healthy lifestyle among the
Korean population, people prefer to choose herbal
category products over non-herbal products
because of lesser or no side effects and their
historical familiarity with herbal medicines.
Additionally, the aging population of Korea and
workaholic culture among people has resulted in
various indigestive disorders in the country,
which further demands for dietary supplements
especially probiotics for digestion, driving the
overall dietary supplements market in the
country.
5
The intake rate of dietary supplements in Korea
was recorded in between to in adults and in
between to in children between one to six
years old in year 2012, clearly advocating the
high intake of dietary supplements and reason
behind its dominating share. By Distribution
Channel Convenience stores segment dominated the
Korea nutraceuticals sectors distribution
network with revenue share of , thus generating
revenue worth USD million in 2016. In Korea,
number of convenience stores have surpassed in
the year 2016. These stores responded well
towards selling nutritional supplements in the
market. Other major distribution channels include
mass merchandisers, door-to-door sales,
pharmacies, and mail orders. Dietary Supplements
Segmentation by Type of Supplements Herbal
supplements dominated the Korea nutraceuticals
market with segment capturing revenue share of
in 2016. The preferred public interest towards
herbal products being non-toxic in nature and
their
6
availability at affordable prices results in high
demand for herbal supplements in Korea dietary
supplements industry. Vitamins and minerals
follow herbal supplements with market share of
in 2016. The use of vitamins and minerals segment
is increasingly witnessed among the teenage
population to boost up their immune system. In
Korea, regular selling vitamins and minerals
supplements constituted vitamin A, vitamin C and
vitamin D. Functional Foods and Beverages Market
Segmentation by Food Category Health segment
dominated the functional food and beverages
market with a revenue share worth in Korea
functional foods and beverages market in year
2016. It is witnessed that in the estimated time
period of six years from 2011 to 2016, Korea has
developed a busy working lifestyle involving long
working duration per year. Energy boosters
segment followed the health functional foods with
revenue share of in 2016. Sports drinks with
energy boosters with major ingredients such
7
as ginseng or green tea and the energy boosters
in form of herbal processed foods are observed to
be majorly driving the Korean energy boosters
market. Competitive Landscape Korea Ginseng
Corporation dominated the Korea dietary
supplements market by capturing revenue share
worth in 2016 majorly due to high demand for
Korean red ginseng extract plus, Korean red
ginseng tonic, womens balance tonic and
energetic tonics in Korea. Amway, Korea Yakult,
Korea Eundan, and Novarex are other major players
operating in the market. However, CJCJ dominated
the Korea functional foods and beverages market
by capturing revenue share in the year 2016.
Future Outlook and Projections Korea
nutraceuticals market is likely to witness a
growth at a CAGR of during the forecast period
of four years from 2016 to 2019. 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.
8
The per capita expenditure towards healthcare has
also been one of the major driving forces for
growing nutraceuticals market in Korea. The
rising disposable income amongst the Korean
population tends to consume more towards health
supplements. Apart from health-improving
nutritional supplements, there is an increasing
demand for herbal supplements, fiber supplements
and probiotics in Korea, which are aiming to cure
high prevalence of obesity and cardiovascular
problems in near future. Key Topics Covered in
the Report Introduction to Korea Nutraceuticals
Market Korea Nutraceutical Market Nutritional
Supplement Drinks Korea Digestive Food Market
Growth in Korea Korea Functional Food
Industry Korea Nutraceuticals market size,
2011-2016 Dietary Supplements segmentation by
type of supplements Foods and Beverages Market
Segmentation by Product Category
9

• Blackmores Vitamins and Supplements Korea
• Future Functional Food Nutraceutical Products
  Korea
• Regulatory Landscape of Korea
• Competitive Landscape of Major Players in Korea
  Nutraceuticals Market
• Korea Swisse Wellness Nutrition Multi Vitamin
  Brand
• Import Export Scenario of Nutritional and
  Dietary Supplements in Korea
• Korea Ginseng Market
• Korea Dietary Supplements Market Trends
• Major Trends and developments
• Korea Nutritional Supplements Market
• Probiotic Nutrition Market Korea
• Analyst Recommendations
• Korea Nutraceuticals Future Outlook and
  Projections, 2016-2021
• For further information, kindly visit
• https//www.kenresearch.com/healthcare/pharmaceuti
  cals/korea-nutritional-supplements-market/123858-9
  1.html

10
Related Reports by Ken Research https//www.kenres
earch.com/healthcare/pharmaceuticals/asia-pacific-
nutraceuticals-market-report/118296-91.html https
//www.kenresearch.com/healthcare/pharmaceuticals/
china-nutritional-supplements-market/123729-91.htm
l https//www.kenresearch.com/healthcare/pharmace
uticals/australia-nutraceuticals-market-report/121
465-91.html Contact Ken Research Ankur Gupta,
Head Marketing Communications query_at_kenresearch.
com 91-124-4230204
11
(No Transcript)