South Korea Health Supplements Market Share, Size, Analysis, Growth, Forecast: By Type: Dietary Supplement, Eye Health Supplements, Others; By Ingredients: Enzymes, Botanicals, Amino Acids, Vitamins and Minerals, Others; By Application; By End Use; Market Dynamics; Competitive Landscape; Industry Events and Developments; 2024-2032

South Korea Health Supplements Market Outlook

The South Korea market for health supplements reached a value of more than USD 5.45 billion in 2023. The South Korea health supplements market is expected to grow at a CAGR of 5.2% between 2024 and 2032. The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach USD 9.38 billion by 2032.

News and Developments in the Market

According to the Korea Health Supplements Association, the market size for health supplements was approximately 3.56 trillion won ($3.18 billion) in 2016 and reached about 4.98 trillion won in 2020. According to the Health supplements association,  by 2030, the market would likely be worth more than 25 trillion won. As claimed by olive young, People in their 20s and 30s spent 32 per cent more on health supplements in 2021 than in 2020.

Customers can have one-on-one consultations with specialists and create their own health supplements using the "per pack" service that Pulmuone Health & Living started providing in July. The supplements are packaged in separate single packs in adequate quantities for the consumers to conveniently consume them every day. Similarly, a personalised health supplement service called "My Pack by Nutrilite" was developed by Amway Korea.

According to the Korea Health Supplements Association, the health supplement market crossed 4.3 trillion won  in 2018. Their sales are booming on e-commerce platforms. The demand for health supplements is augmenting due to the growing availability and sales on online channels. Tablets and pouch-type health drinks like ginseng drinks led the sales. retail stores are also one of the leading distribution channels, followed by pharmacies.

The fat reduction and weight loss products market are gradually flourishing. It reached 144.9 billion won in 2019 to 163 billion won in 2021. In response, Dongsung Pharmaceutical launched ‘GD diet synergy cut’ , a probiotic drink containing green coffee bean alcohol extract that aids in reducing body mass index, weight, and body fat healthily.

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The Health Functional Foods Association reports that between 2019 and 2021, the domestic market for products that help people lose body fat increased from 144.9 billion won to 163 billion won. In response to the growth, Dongsung Pharmaceutical introduced the probiotic supplement "GD Diet Synergy Cut." A human-derived Bifidobacterium called Bifidobacterium Breve B3 was cultured to produce 2 billion CFU of probiotics in the product. Prebiotics enhance the formation of lactic acid bacteria in the body. Additionally, it contains "Green Coffee Bean Alcohol Extract" to lower body fat.

CJ CheilJedang pledged to invest 10 trillion won ($8.41 billion) in four different sectors over the following three years and the health and supplement industry is one of them. In the long run, the company has planned to transform CJ Wellcare into a specialised health supplement provider by expanding its specialised and customised product line. According to the Korea Health Supplements Association, the market for health supplements reached 4.9 trillion won in 2020. As per Agriculture Ministry, around 80% of Korean families reported using at least one health supplement in 2020.

The demand for health supplements customized for female health is growing in the nation. Yuhan Care , a subsidiary of Yuhan corp., launched UREX, a probiotic supplement for women which prevents vaginitis or urinary infections. Probiotic health supplements are becoming more and more popular in South Korea sales are expanding at a pace of 12.4% annually. In 2018, the country earned 4.5 trillion won ($3.8 billion). As more women become conscious of the need to actively take care of their reproductive organs, the demand will only grow.

Key Trends in the South Korea Health Supplements Market

Health Supplements are nutritional supplements taken orally. They 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.

Growing preference for plant-based and sustainable health supplements

With increasing awareness of cruelty-free products, people are now moving towards plant-based proteins instead of animal-based ones. Also, plant-based vitamins and minerals are much healthier and are better absorbed in the body as compared to synthetic ones. Hence, they are opting for herbal health supplements and botanicals. Moreover, companies are now more inclined to launch eco-friendly and clean label products to meet the shifting consumer preferences and reduce the ecological footprint.

Cosmetic and pharmaceutical manufacturers are currently investing in research and development, leading to the launch of a wide variety of supplements in various forms like liquid, tablet, and many more. Manufacturers are investing in producing variants to cater for the diverse needs of the Korean population, which is also leading to the emergence of various market trends.

Excessive Dieting and Inclination Toward Skinny or Lean Body Type

The South Korean population is obsessed with slim body types. Fear of weight gain and body shaming compels people to do excessive dieting. Hence, they opt for health supplements to fulfil their nutritional needs. A wide variety of supplements are now available in the market in fancy packaging and at very competitive prices. This is one of the significant trends driving the health supplement market growth in South Korea.

Probiotics are one of the leading health supplements having significant share in the market

Probiotics are one of the most preferred supplements on the market. They are now included in various food and beverages to increase their nutritional content and digestibility. Probiotic juices, kefir water, and yoghurt are some of the beverages in which probiotics are added for daily supplementation required by the human body. The market for female probiotics is also gaining traction as certain brands launch female reproductive health-oriented probiotics that are believed to promote the growth of good bacteria in the gut, prevent urinary tract infections and protect the female reproductive organs. Since COVID-19, it has become a necessity as well as a trend to consume immunity-boosting food products and supplements. Therefore, the sales of probiotics have spiked in the health supplement industry in South Korea.

Opportunities in the South Korea Health Supplements Market

Increased internet usage and influence of social media to drive the market growth

According to the world bank, internet penetration in South Korea was approximately 96% in 2020. With the growing internet penetration and smartphone usage, more people are getting aware of the latest fitness trends and lifestyles, which is also boosting the health supplements market. 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 Health Supplements market growth.

Work-life Imbalance and Hectic-lifestyle and High disposable Income is augmenting the Market Growth

South Korea joined 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 out much time for their health and fitness, which is also a significant factor aiding the growth of the health supplement market in the country.

Benefits  of Consuming Health Supplements in Daily Life

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 makes 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. 

Celebrity Influence boosts the Health Supplement Market Sales

Lemona,  a vitamin C beverage-based supplement of Kyung Nam Pharmacy, is one of the most preferred vitamin C supplements in Korea. The sale 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 is due to the fact that BTS has become a global force, far beyond South Korea, with an impact that transcends the music world. People follow the lifestyle and preferences of their idols, which helped in popularising the drink in their home country as well as overseas, thereby aiding the health supplements industry of South Korea.

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Challenges in the Health Supplements Market in South Korea

Fake claims by numerous supplement brands

The desire to get a slim body type and tall height has created a niche market for growth hormones and health supplements. These over-the-counter supplements are readily available without any prescription and at affordable prices. So, in order to boost the consumption of their products, many manufacturers put up fake advertisements and customer reviews claiming benefits such as extreme fat reduction, weight loss, or tall height. This factor creates credibility issues among customers, which hampers the market growth. 

Strict certification rules and Inclination toward locally manufactured products

According to the Korean Food Code , there is a total of 25 items which are regarded as dietary supplements, such as fish oils, calcium, aloe vera and more. However, there are specific rules which prohibit several products in the market. Moreover, with strict regulations, it is difficult for overseas brands to get certification from the authorities. People of South Korea put extra emphasis on buying local products manufactured by Korean manufacturers, which further poses a hindrance for foreign manufacturers.

Market Analysis

Based on type the market can be segmented into: Dietary Supplements and Eye-Health Supplement among others. Based on ingredients market can be divided into: Enzymes, Botanicals, Amino Acids, Vitamins and Minerals, among others. On the basis of application, the market can be bifurcated into: Cardiology, Rheumatic Disorders, and Allergy, among others. Based on end-use, the health supplement market can be segmented into: Hospitals, Clinics, and Research Centres, among others. 

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the South Korea health supplement market, covering their competitive landscape and latest developments like mergers, acquisitions, investments and expansion plans. 

• DSM Nutritional Products AG

• NOVAREX

• Cellromax Co.,Ltd.

• Asianwhiteskin

• Biovea

• Others

Market Share by Type

The South Korea health supplement market is growing exponentially with the rising prevalence of e-commerce and the retail industry. The dietary supplement segment has a significant share in the industry due to increased demand from various end-users like hospitals, clinics, and research centres. Among dietary supplements, probiotics, Vitamin C, ginseng, and collagens are some of the most well-known supplements in the country. Eye-health supplement also has a fair share of the market in the industry, which is expected to grow further during the given forecast period.

Market Share by Ingredients

Vitamins and minerals, especially vitamin C, have a significant market share in the industry. COVID-19 outbreak has positively impacted the health supplement market, 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 enzymes, amino acids, and botanicals, among others, is moving on a positive trajectory.

Market Share by Application

The South Korea health supplement market has been thriving due to the growing demand for dietary supplements among consumers. Moreover, the health benefits of these supplements further boost their consumption. They are frequently prescribed by doctors to prevent or to aid healing during various diseases such as Omega-3 fatty acids, Vitamin D, folic acid, calcium  and many more are given to patients who suffer from cardiological disorders. Also, many supplements like Vitamin C, EPA/DHA fish oil, and multi-vitamins help people to overcome allergies. The rising health concerns along with easy access to supplements at affordable prices are propelling the health supplements market growth.

Market share by end-use

The end-users of health supplements in South Korea are hospitals, research centres, and clinics, among others. There are opportunities for the manufacturers with the hospitals, clinics, key players, and start-ups all investing in this industry. Pharmaceutical and food manufacturers are entering the health supplements market due to the high demand. South Korea has an ageing population, and chronic diseases are on the rise, increasing the consumption and demand for health supplements in the South Korean market.

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Competitive Landscape

Koninklijke DSM N.V.- The Dutch multinational firm Koninklijke DSM N.V., also known as Royal DSM or just DSM, is involved in the food, health, and materials industries. The three clusters of nutrition, materials, and innovation centre activities have been the division of DSM's activities since 2015. Royal DSM is a Science-based multinational company known for its products for human nutrition, animal nutrition, and medical devices, among others. 

Food enzymes, cultures, yeast extracts, savoury flavours, hydrocolloids, and other speciality ingredients are produced by DSM Food Specialties for the dairy, baking, beverage, and savoury markets. Royal DSM is a purpose-driven enterprise with a focus on sustainable living, nutrition, and health. 

Novarex Co. Ltd manufactures dietary supplements for people of all ages. The supplements are available in soft and hard capsules, tablets, powder, gummies and stick jelly. The company was established in 2008, formerly called Health Science CO., Ltd. The company specialises in food and nutrition, microbiology, engineering, and pharmaceuticals. The headquarter of Novarex is situated in Cheonju, South Korea.

Key Highlights of the Report

*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.