An In-depth Look at Sale of Dietary Supplement in Korea from 2023 to 2033
The demand for dietary supplement in Korea is expected to be worth US$ 1,561.41 million in 2023, up from US$ 1,408.34 million in 2022. The demand in Korea is projected to continue at a robust rate over the 2023 to 2033 forecast period, with a CAGR of 10.4%. By 2033, the sales of dietary supplement in Korea are anticipated to reach a valuation of US$ 4,181.92 million.
Attributes
Details
Industry size for Korea in 2023
US$ 1,561.41 million
Expected Industry Size for Korea by 2033
US$ 4,181.92 million
Forecasted CAGR between 2023 to 2033
10.4%
Don't pay for what you don't need
Customize your report by selecting specific countries or regions and save 30%!
Key Insights for Dietary Supplement in Korea
In Korea, the variety of dietary supplement is ever-increasing. The Korean population is responding positively to the launch of new supplements, thus contributing to the growing demand for the product.
Red ginseng and probiotic supplements are two of the highly popular supplements in Korea. However, the consumption of vitamin and collagen supplements is also rising in the country.
eCommerce has added a new dimension to the demand for dietary supplement in Korea. A large number of Korean consumers are turning to the online mode to obtain dietary supplements.
Key Trends Shaping the Demand for Dietary Supplement in Korea
Rising disposable income among the young population is helping advance dietary supplement sales in Korea. Due to affluence, young individuals are not hesitant to spend money on improving their appearances, accelerating the demand for dietary supplement in Korea.
As fitness trends emerge in Korea, there has been a shift among a considerable chunk of the population toward plant-based products. Plant-based dietary supplement is also finding a significant consumer base in Korea.
Consumers in Korea are wary of false claims and forged products when it comes to dietary supplements. The government has implemented several measures to curb inauthenticity in dietary supplements. This provides consumers in the country with greater assurance regarding the products.
Sports nutrition supplements are growing in demand in Korea. With popular sports such as football, badminton, and skating in Korea, a significant number of people have taken up sports. Sports nutrition supplements are being consumed to augment practice.
Pets are becoming increasingly commonplace in Korea. According to the Korean Ministry of Agriculture, Food and Rural Affairs, the number of households with dogs or cats nearly doubled from 2012 to 2022. Thus, there is a significant opportunity for pet dietary supplement in Korea.
Find your sweet spots for generating winning opportunities in this market.
Comparative View of Dietary Supplement in Key Markets
Two regions other than Korea, namely Japan and Western Europe, are studied for dietary supplements. Trends and challenges in the sale of dietary supplement are provided for all three regions. It is evident, with the projected CAGRs of these three regions, that dietary supplement is set to progress faster in Korea than in the other two regions.
Demand for Dietary Supplement in Korea:
Attributes
Demand for Dietary Supplement in Korea
CAGR (2023 to 2033)
10.4%
Valuation (2023)
US$ 1,561.41 million
Key Trend
Young individuals with ample income favor the use of dietary supplements
Key Challenge
Fear of counterfeit dietary supplement products persists
Demand for Dietary Supplement in Japan:
Attributes
Demand for Dietary Supplement in Japan
CAGR (2023 to 2033)
6.2%
Valuation (2023)
US$ 1,266.09 million
Key Trend
Elderly population of Japan are relying on dietary supplement
Key Challenge
Stringent regulations on introduction of new products
Demand for Dietary Supplement in Western Europe:
Attributes
Demand for Dietary Supplement in Western Europe
CAGR (2023 to 2033)
8.2%
Valuation (2023)
US$ 16,185.60 million
Key Trend
Growing popularity of sports nutrition supplements
Key Challenge
Consumer reluctance due to fear of misleading advertisements
Amino acid is the ingredient commonly found in dietary supplement in Korea. For 2023, amino acids segment is expected to account for 42.7% of the industry share by ingredients in Korea.
Amino acids are considered essential for immunity boosting. As the function of dietary supplement is to augment natural diets, supplements with amino acids are increasing in popularity across Korea. In addition, amino acids are also considered helpful in improving memory and mental health.
Demand for Dietary Supplement in Korea Based on Ingredients
Amino Acids
Industry Share in 2023
42.7%
Ease Provided by Soft Gel/Pills is Still Winning over Consumers in Korea
Soft gels/pills still rule the roost in Korea. In 2023, the soft gels/pills segment is expected to hold 58.7% of the industry share by form. Soft gels/pills are easy to swallow. Consumers in Korea are drawn to the comfort provided by the pills, making gels/pills the dominant form in which dietary supplement is taken in Korea.
Demand for Dietary Supplement in Korea Based on Form
Soft Gel/Pills
Industry Share in 2023
58.7%
Get the data you need at a Fraction of the cost
Personalize your report by choosing insights you need and save 40%!
Competitive Landscape
Diversity in products is a predominant concern among players in Korea. By introducing new products, Korean producers hope to maintain a hold on the industry in the nation. Consumers in this country show a preference for Korean-made products. Therefore, Korean local players are thriving. However, international brands have also made their mark in the nation.
Recent Developments Observed in Dietary Supplement in Korea
In August 2023, Hyundai Department Store agreed to a deal with Nestle to sell the latter’s dietary supplement in Korea. The two brands are also considering joint production in Korea.
In October 2023, TSI Group’s myHMB product received label approval from the Korean Ministry of Food and Drug Safety (MFDS). Thanks to this decision, TSI Group can now advertise the health benefits of myHMB in dietary supplements.
Some of the Key Players with Dietary Supplement in Korea
Korea Ginseng Corporation
ChongKunDang Healthcare
Dong-A Pharmaceutical
Kolmar Korea
Nongshim Health
Il-Yang Pharm
Pulmuone Health & Living
Amway Korea
GNC Korea
Viva Health
USANA Health Sciences
Kyani
DSM Nutritional Products
NOVAREX
Cellromax
Biovea
Nestlé
GlaxoSmithKline
Scope of the Report
Attribute
Details
Estimated Industry Size in 2023
US$ 1,561.41 million
Projected Industry Size by 2033
US$ 4,181.92 million
Anticipated CAGR between 2023 to 2033
10.4% CAGR
Historical Analysis of Demand for Dietary Supplement in Korea
2018 to 2022
Demand Forecast for Dietary Supplement in Korea
2023 to 2033
Report Coverage
Industry Size, Industry Trends, Key Insights for Dietary Supplement in Korea, Insights on Global Players and Leading Industry Strategy in Korea, Ecosystem Analysis of Local and Regional Korea Providers
Key Companies Profiled
Korea Ginseng Corporation
ChongKunDang Healthcare
Dong-A Pharmaceutical
Kolmar Korea
Nongshim Health
Il-Yang Pharm
Pulmuone Health & Living
Amway Korea
GNC Korea
Viva Health
USANA Health Sciences
Kyani
DSM Nutritional Products
NOVAREX
Cellromax
Biovea
Nestlé
GlaxoSmithKline
Key Provinces Profiled
South Gyeongsang
North Jeolla
South Jeolla
Jeju
Key Segments
By Form:
Soft Gel or Capsules
Confectionary Products
Gummies
Chews
Others
Pharmaceutical Products
Chewable Pills and Pills
Soft Gel
Powder
Liquid
By Ingredient:
Vitamins & Minerals
Amino Acids
Botanical Supplements
Others
By End Use:
Men
Women
Senior Citizen
Others
By Application:
Weight Loss
Sports Nutrients
General Well Being
Immune Health and Digestive Health
Bone and Joint Health
Heart Health
Others
By Distribution Channel:
Pharmacies Drug Store
Health & Beauty Stores
Immune Health and Digestive Health
Bone and Joint Health
Heart Health
Other
By Province:
South Gyeongsang
North Jeolla
South Jeolla
Jeju
Frequently Asked Questions
What is the Industry Size of Dietary Supplement in Korea?
The industry size of dietary supplement in Korea is valued at US$ 1,561.41 million in Korea in 2023.
At What Rate is the Dietary Supplement Industry Growing in Korea?
The dietary supplement industry is forecasted to develop at a rate of 10.4% in Korea from 2023 to 2033.
What will be the Industry Size of Dietary Supplement in Korea by 2033?
The industry size for dietary supplement is forecasted to reach US$ 4,181.92 million in Korea by 2033.
Who are the Prominent Companies in Korea That Sell Dietary Supplements?
Korea Ginseng Corporation, ChongKunDang Healthcare, Dong-A Pharmaceutical, and Kolmar Korea are some of the prominent companies that sell dietary supplement in Korea.
How is Dietary Supplement Predominantly Taken in Korea?
Dietary supplement is commonly taken in the form of soft gels/pills in Korea.
Table of Content
1. Executive Summary
1.1. Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
3.3. Opportunity Map Analysis
3.4. Product Life Cycle Analysis
3.5. Supply Chain Analysis
3.5.1. Supply Side Participants and their Roles
3.5.1.1. Producers
3.5.1.2. Mid-Level Participants (Traders/ Agents/ Brokers)
3.5.1.3. Wholesalers and Distributors
3.5.2. Value Added and Value Created at Node in the Supply Chain
3.5.3. List of Raw Material Suppliers
3.5.4. List of Existing and Potential Buyer’s
3.6. Investment Feasibility Matrix
3.7. Value Chain Analysis
3.7.1. Profit Margin Analysis
3.7.2. Wholesalers and Distributors
3.7.3. Retailers
3.8. PESTLE and Porter’s Analysis
3.9. Regulatory Landscape
3.9.1. By Key Regions
3.10. Regional Parent Market Outlook
3.11. Production and Consumption Statistics
3.12. Import and Export Statistics
4. Industry Analysis and Outlook 2018 to 2022 and Forecast, 2023 to 2033
4.1. Historical Market Size Value (US$ Million) & Volume (Units Pack) Analysis, 2018 to 2022
4.2. Current and Future Market Size Value (US$ Million) & Volume (Units Pack) Projections, 2023 to 2033
4.2.1. Y-o-Y Growth Trend Analysis
4.2.2. Absolute $ Opportunity Analysis
5. Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Ingredients
5.1. Introduction / Key Findings
5.2. Historical Market Size Value (US$ Million) & Volume (Units Pack) Analysis By Ingredients , 2018 to 2022
5.3. Current and Future Market Size Value (US$ Million) & Volume (Units Pack) Analysis and Forecast By Ingredients , 2023 to 2033
5.3.1. Amino Acid
5.3.2. Animal Extract
5.3.3. Botanical Extract
5.3.4. Mineral
5.3.5. Nucleotide
5.3.6. Omega 3
5.3.7. Probiotics
5.3.8. Protein
5.3.9. Sugar
5.3.10. Vegetable Oil & Powder
5.3.11. Vitamin
5.3.12. Yeast Extract
5.4. Y-o-Y Growth Trend Analysis By Ingredients , 2018 to 2022
5.5. Absolute $ Opportunity Analysis By Ingredients , 2023 to 2033
6. Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Form
6.1. Introduction / Key Findings
6.2. Historical Market Size Value (US$ Million) & Volume (Units Pack) Analysis By Form, 2018 to 2022
6.3. Current and Future Market Size Value (US$ Million) & Volume (Units Pack) Analysis and Forecast By Form, 2023 to 2033
6.3.1. Soft Gel/Pills
6.3.1.1. Confectionery Products
6.3.1.2. Pharmaceuticals Products
6.3.2. Powder
6.3.3. Liquid
6.4. Y-o-Y Growth Trend Analysis By Form, 2018 to 2022
6.5. Absolute $ Opportunity Analysis By Form, 2023 to 2033
7. Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Application
7.1. Introduction / Key Findings
7.2. Historical Market Size Value (US$ Million) & Volume (Units Pack) Analysis By Application , 2018 to 2022
7.3. Current and Future Market Size Value (US$ Million) & Volume (Units Pack) Analysis and Forecast By Application , 2023 to 2033
7.3.1. Weight Loss
7.3.2. Sports Nutrition’s
7.3.3. General Well-Beings
7.3.4. Immune & Digestive Health
7.3.5. Bone & Joint Health
7.3.6. Heart Health
7.3.7. Others Specific Requirements (Supplements , Anti -Allergies & EyeHealth)
7.4. Y-o-Y Growth Trend Analysis By Application , 2018 to 2022
7.5. Absolute $ Opportunity Analysis By Application , 2023 to 2033
8. Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Region
8.1. Introduction
8.2. Historical Market Size Value (US$ Million) & Volume (Units Pack) Analysis By Region, 2018 to 2022
8.3. Current Market Size Value (US$ Million) & Volume (Units Pack) Analysis and Forecast By Region, 2023 to 2033
8.3.1. South Gyeongsang
8.3.2. North Jeolla
8.3.3. South Jeolla
8.3.4. Jeju
8.3.5. Rest of Korea
8.4. Market Attractiveness Analysis By Region
9. South Gyeongsang Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033
9.1. Historical Market Size Value (US$ Million) & Volume (Units Pack) Trend Analysis By Market Taxonomy, 2018 to 2022
9.2. Market Size Value (US$ Million) & Volume (Units Pack) Forecast By Market Taxonomy, 2023 to 2033
9.2.1. By Ingredients
9.2.2. By Form
9.2.3. By Application
9.3. Market Attractiveness Analysis
9.3.1. By Ingredients
9.3.2. By Form
9.3.3. By Application
9.4. Key Takeaways
10. North Jeolla Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033
10.1. Historical Market Size Value (US$ Million) & Volume (Units Pack) Trend Analysis By Market Taxonomy, 2018 to 2022
10.2. Market Size Value (US$ Million) & Volume (Units Pack) Forecast By Market Taxonomy, 2023 to 2033
10.2.1. By Ingredients
10.2.2. By Form
10.2.3. By Application
10.3. Market Attractiveness Analysis
10.3.1. By Ingredients
10.3.2. By Form
10.3.3. By Application
10.4. Key Takeaways
11. South Jeolla Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033
11.1. Historical Market Size Value (US$ Million) & Volume (Units Pack) Trend Analysis By Market Taxonomy, 2018 to 2022
11.2. Market Size Value (US$ Million) & Volume (Units Pack) Forecast By Market Taxonomy, 2023 to 2033
11.2.1. By Ingredients
11.2.2. By Form
11.2.3. By Application
11.3. Market Attractiveness Analysis
11.3.1. By Ingredients
11.3.2. By Form
11.3.3. By Application
11.4. Key Takeaways
12. Jeju Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033
12.1. Historical Market Size Value (US$ Million) & Volume (Units Pack) Trend Analysis By Market Taxonomy, 2018 to 2022
12.2. Market Size Value (US$ Million) & Volume (Units Pack) Forecast By Market Taxonomy, 2023 to 2033
12.2.1. By Ingredients
12.2.2. By Form
12.2.3. By Application
12.3. Market Attractiveness Analysis
12.3.1. By Ingredients
12.3.2. By Form
12.3.3. By Application
12.4. Key Takeaways
13. Rest of Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033
13.1. Historical Market Size Value (US$ Million) & Volume (Units Pack) Trend Analysis By Market Taxonomy, 2018 to 2022
13.2. Market Size Value (US$ Million) & Volume (Units Pack) Forecast By Market Taxonomy, 2023 to 2033
13.2.1. By Ingredients
13.2.2. By Form
13.2.3. By Application
13.3. Market Attractiveness Analysis
13.3.1. By Ingredients
13.3.2. By Form
13.3.3. By Application
13.4. Key Takeaways
14. Market Structure Analysis
14.1. Competition Dashboard
14.2. Competition Benchmarking
14.3. Market Share Analysis of Top Players
14.3.1. By Regional
14.3.2. By Ingredients
14.3.3. By Form
14.3.4. By Application
15. Competition Analysis
15.1. Competition Deep Dive
15.1.1. Amway Corp.
15.1.1.1. Overview
15.1.1.2. Product Portfolio
15.1.1.3. Profitability by Market Segments
15.1.1.4. Sales Footprint
15.1.1.5. Strategy Overview
15.1.1.5.1. Marketing Strategy
15.1.1.5.2. Product Strategy
15.1.1.5.3. Channel Strategy
15.1.2. Glanbia PLC
15.1.2.1. Overview
15.1.2.2. Product Portfolio
15.1.2.3. Profitability by Market Segments
15.1.2.4. Sales Footprint
15.1.2.5. Strategy Overview
15.1.2.5.1. Marketing Strategy
15.1.2.5.2. Product Strategy
15.1.2.5.3. Channel Strategy
15.1.3. Abbott
15.1.3.1. Overview
15.1.3.2. Product Portfolio
15.1.3.3. Profitability by Market Segments
15.1.3.4. Sales Footprint
15.1.3.5. Strategy Overview
15.1.3.5.1. Marketing Strategy
15.1.3.5.2. Product Strategy
15.1.3.5.3. Channel Strategy
15.1.4. Bayer AG
15.1.4.1. Overview
15.1.4.2. Product Portfolio
15.1.4.3. Profitability by Market Segments
15.1.4.4. Sales Footprint
15.1.4.5. Strategy Overview
15.1.4.5.1. Marketing Strategy
15.1.4.5.2. Product Strategy
15.1.4.5.3. Channel Strategy
15.1.5. Pfizer Inc.
15.1.5.1. Overview
15.1.5.2. Product Portfolio
15.1.5.3. Profitability by Market Segments
15.1.5.4. Sales Footprint
15.1.5.5. Strategy Overview
15.1.5.5.1. Marketing Strategy
15.1.5.5.2. Product Strategy
15.1.5.5.3. Channel Strategy
15.1.6. ADM
15.1.6.1. Overview
15.1.6.2. Product Portfolio
15.1.6.3. Profitability by Market Segments
15.1.6.4. Sales Footprint
15.1.6.5. Strategy Overview
15.1.6.5.1. Marketing Strategy
15.1.6.5.2. Product Strategy
15.1.6.5.3. Channel Strategy
15.1.7. Nu Skin Enterprises, Inc.
15.1.7.1. Overview
15.1.7.2. Product Portfolio
15.1.7.3. Profitability by Market Segments
15.1.7.4. Sales Footprint
15.1.7.5. Strategy Overview
15.1.7.5.1. Marketing Strategy
15.1.7.5.2. Product Strategy
15.1.7.5.3. Channel Strategy
15.1.8. GlaxoSmithKline plc
15.1.8.1. Overview
15.1.8.2. Product Portfolio
15.1.8.3. Profitability by Market Segments
15.1.8.4. Sales Footprint
15.1.8.5. Strategy Overview
15.1.8.5.1. Marketing Strategy
15.1.8.5.2. Product Strategy
15.1.8.5.3. Channel Strategy
15.1.9. Bionova
15.1.9.1. Overview
15.1.9.2. Product Portfolio
15.1.9.3. Profitability by Market Segments
15.1.9.4. Sales Footprint
15.1.9.5. Strategy Overview
15.1.9.5.1. Marketing Strategy
15.1.9.5.2. Product Strategy
15.1.9.5.3. Channel Strategy
15.1.10. Ayanda
15.1.10.1. Overview
15.1.10.2. Product Portfolio
15.1.10.3. Profitability by Market Segments
15.1.10.4. Sales Footprint
15.1.10.5. Strategy Overview
15.1.10.5.1. Marketing Strategy
15.1.10.5.2. Product Strategy
15.1.10.5.3. Channel Strategy
16. Assumptions & Acronyms Used17. Research Methodology
