South Korea Health Supplements Market Report and Forecast 2024-2032

South Korea Health Supplements Market Size

The South Korea health supplements market was valued at USD 5.45 billion in 2023, driven by the increasing aging population, growth of online distribution channels, and the rising demand for clean-label health supplement products. The market is expected to grow at a CAGR of 5.20% during the forecast period of 2024-2032, with the values likely to reach USD 8.60 billion by 2032.

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South Korea Health Supplements Market Outlook

• Increased focus on health and wellness and the rising preference for health supplements made from natural and locally sourced ingredients are major trends shaping the market dynamics in the South Korean market.

• The growing aging population in South Korea stimulates the market demand for health supplements that address age-related health including bone health, cognitive function, and general wellness.

• The market share is influenced by the increased internet penetration, rising disposable incomes, and growth of online sales platforms.

South Korea Health Supplements Market Overview

Health Supplements usually contain vitamins, minerals, enzymes, herbs, or any other dietary supplement to meet the nutritional demands of the human body. These are not medicines and are not used for treating any diseases. Health supplements ensure better physical as well as cognitive functions. The COVID-19 promoted the trend of consuming immunity-boosting food products and supplements. Therefore, the sales of many health supplements such as probiotics have spiked in the South Korean market in recent years.

The South Korea health supplements market is characterized by the increasing aging population, the growth of e-commerce platforms, and the rising demand for health supplements that are organic, natural, and free from artificial additives. Cosmetic and pharmaceutical manufacturers are actively engaged in research and development initiatives, leading to the launch of a wide variety of supplements in various forms like liquid and tablet, which also contributes to the expansion of the global health supplements market. They are also investing in producing variants of health supplements to cater for the diverse needs of the Korean population, which is also resulting in the emergence of several market trends. Moreover, factors such as rising disposable income and increased focus on preventive healthcare are poised to fuel the market growth in the forecast period.

South Korea Health Supplements Market Growth Drivers

Increased Internet Usage and Influence of Social Media to Drive Market Growth

According to the World Bank, internet penetration in South Korea is substantial. With the growing internet penetration and smartphone usage, more people are becoming aware of the latest fitness trends and lifestyles, which is also boosting the growth of the health supplements market in South Korea. Promotions done by social media influencers on platforms like Instagram, Facebook, Twitter, Kakao Story, Naver Band, and TikTok entice people to buy those products, thus aiding in the market expansion.

High Disposable Income and Hectic Lifestyle Augments South Korea Health Supplements Market Demand

South Korea joined the Organisation for Economic Co-operation and Development (OECD) in 1996 and has made several developments since then. The country is considered one of the most advanced economies in the world. This economic development has improved their disposable income and standard of living. Hence, people are willing to pay for quality and premium health supplements.

Working beyond an eight-hour shift is common in South Korea. People usually work 10–12 hours a day and sometimes even go to the office on weekends. Due to this poor work-life balance and busy lifestyle, people do not get to take much time for their health and fitness, which is also a significant factor aiding the growth of the health supplement market in the country.

Increased Recognition of Benefits Associated with Health Supplements Elevates the South Korea Health Supplements Market Value

Due to busy lifestyles, people do not get a balanced diet. As a result, consuming health supplements provides them with the necessary nutrients required and prevents nutritional deficiencies and some diseases. For example, spina bifida, a congenital defect, can be avoided by consuming folic acid in adequate amounts daily. Supplements like iron, omega-3 fatty acids, and folate are believed to help in overcoming depression and also uplift the mood. Moreover, some health supplements like Vitamin D, Creatine, and Vitamin B boost energy levels and make one feel less tired and lethargic throughout the day. Vitamins A, C, and D aid in strengthening the immune system of the human body and combat many diseases. The rising consumption of health supplements due to their associated benefits is anticipated to bolster market growth.

Celebrity Influence to Affect the South Korea Health Supplements Market Landscape

Lemona, a vitamin C beverage-based supplement of Kyung Nam Pharmacy, is one of the most preferred vitamin C supplements in Korea. The sales of this product skyrocketed when the brand collaborated with the boyband BTS in 2019. Lemona has now become a well-known product overseas as well. This shows that people are greatly influenced by the lifestyle and preferences of celebrities in the country, and continued endorsements from them are anticipated to play a significant role in the marketing and consumer acceptance of health supplements.

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South Korea Health Supplements Market Trends

The market is witnessing several trends and developments to improve the current scenario in South Korea. Some of the notable trends are as follows:

South Korea Health Supplements Market Segmentation

Market Breakup by Ingredients

• Vitamins

• Botanicals

• Minerals

• Protein & Amino Acids

• Fibers & Specialty Carbohydrates

• Omega Fatty Acids

• Probiotics

• Prebiotics & Postbiotics

• Others

Market Breakup by Form

• Tablets

• Capsules

• Soft gels

• Powders

• Gummies

• Liquids

• Others

Market Breakup by Application

• Energy & Weight Management

• Bone & Joint Health

• Gastrointestinal Health

• Immunity

• Diabetes

• Others

Market Breakup by End User

• Infants

• Children

• Adults

• Pregnant Women

• Geriatric

Market Breakup by Mode of Purchase

• OTC

Market Breakup by Distribution Channel

• Online

• Offline

South Korea Health Supplements Market Share

Vitamins and Minerals Segment Based on Ingredients is Anticipated to Witness Substantial Growth

The market segmentation by ingredients includes vitamins, botanicals, minerals, protein & amino acids, fibers & specialty carbohydrates, omega fatty acids, probiotics, and prebiotics & postbiotics, among others. Vitamins and minerals, especially vitamin C, have a significant market share in the market. The COVID-19 outbreak has positively impacted the health supplement market in the region, with Vitamin C being one of the most sold-out supplements. Along with skin and hair care supplements, people are now willing to spend more on immunity-boosting products daily, making the market very competitive and increasing the market opportunities for the key players as well as start-ups in the health supplements industry. Since people are now much more aware, they also spend on supplements other than vitamins and minerals. The market for amino acids, and botanicals, among others, is also moving on a positive trajectory in South Korea.

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South Korea Health Supplements Market Analysis by Region

In South Korea, the regional markets are shaped by economic conditions, cultural influences, and local demographics. Seoul, the capital of South Korea, is a major market owing to the growing demand for health supplements and high consumer awareness. The market also experiences an increasing preference for high-quality, scientifically-backed products, and benefits from well-established distribution channels including online platforms, specialty health stores, and department stores. Busan and Incheon also hold a high market value which can be attributed to the rising focus on health and wellness along with the increasing demand for natural and locally sourced ingredients in health supplements.

Leading Players in the South Korea Health Supplements Market

The key features of the market report comprise strategic initiatives by the leading key players including mergers & collaborations and new product launches. The major companies in the market are as follows:

DSM Nutritional Products AG

DSM Nutritional Products AG is a leading player in health, nutrition, and materials. It provides high-quality ingredients like vitamins and minerals that are used in health supplements. This global science-based company has extensive research and development capabilities and actively invests in introducing the latest nutritional innovations in the South Korean market.

Asianwhiteskin

Asianwhiteskin specializes in manufacturing beauty and health supplements that are designed with unique formulations. The company is known for its rigorous marketing campaigns that target beauty-conscious consumers through social media. Some of its key products include Aloe Vera Gel Capsules, Ashwagandha Gummies, and Biotin Gummies.

Biovea

Biovea, a prominent online retailer of health and wellness products, significantly contributes to the South Korea health supplements market growth. The company’s strong online marketing and sales strategy strengthens its position in the market.

Amway Corp.

Amway Corp. is one of the key players in the health and beauty supplements segment and is known for its focus on organic and natural ingredients. It offers a wide range of health supplement products under its Nutrilite brand such as NUTRILITE® Kids Calcium Magnesium Cocoa and NUTRILITE®Bilberry With Lutein.

Other key players in the market include Abbott, Herbalife Nutrition Ltd., NOW Foods, Nature's Bounty, DuPont de Nemours, Inc., and Glanbia plc.

Key Highlights of the Report

Key Questions Answered in the South Korea Health Supplements Market Report

• What was the South Korea health supplements market value in 2023?
• What is the South Korea health supplements market forecast outlook for 2024-2032?
• What is market segmentation based on ingredients?
• What is the market breakup based on form?
• Where do health supplements find their application in the South Korean market?
• What are the end users of the market?
• What is the market breakup by mode of purchase?
• What are the major distribution channels present in the market?
• What are the major factors aiding the South Korea health supplements market demand? 
• How has the market performed so far and how is it anticipated to perform in the coming years?
• What are the market's major drivers, opportunities, and restraints? 
• How does the rising disposable income in the region affect the market landscape?
• How does the rise in the geriatric population impact the market size?
• What are the major South Korea health supplements market trends?
• Which ingredient will dominate the market share?
• Which form is poised to lead the market share? 
• Which application area is expected to have a high market value in the coming years?
• Which end user is projected to contribute to the highest market growth?
• Which mode of purchase will experience the highest demand in the market segment?
• Which distribution channel is anticipated to have the highest impact on the market growth?
• Who are the key players involved in the South Korea health supplements market?
• What are the current unmet needs and challenges in the market?
• How are partnerships, collaborations, and mergers & acquisitions among the key market players shaping the market dynamics?