Demand and Trends Analysis of Dietary Supplements in Korea

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 USD 1,561.41 million in 2023, up from USD 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 USD 4,181.92 million.

Attributes	Details
Industry size for Korea in 2023	USD 1,561.41 million
Expected Industry Size for Korea by 2033	USD 4,181.92 million
Forecasted CAGR between 2023 to 2033	10.4%

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.

Category-wise Insights

Immunity-boosting Amino Acids Dominate Korea’s Dietary Supplement Landscape

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%

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	USD 1,561.41 million
Projected Industry Size by 2033	USD 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

Table of Content

• 1. Executive Summary
• 2. Market Overview
• 3. Market Background
• 4. Industry Analysis and Outlook 2018 to 2022 and Forecast, 2023 to 2033
• 5. Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Ingredients
  • 5.1. Amino Acid
  • 5.2. Animal Extract
  • 5.3. Botanical Extract
  • 5.4. Mineral
  • 5.5. Nucleotide
  • 5.6. Omega 3
  • 5.7. Probiotics
  • 5.8. Protein
  • 5.9. Sugar
  • 5.10. Vegetable Oil & Powder
  • 5.11. Vitamin
  • 5.12. Yeast Extract
• 6. Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Form
  • 6.1. Soft Gel/Pills
    • 6.1.1. Confectionery Products
    • 6.1.2. Pharmaceuticals Products
  • 6.2. Powder
  • 6.3. Liquid
• 7. Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Application
  • 7.1. Weight Loss
  • 7.2. Sports Nutrition’s
  • 7.3. General Well-Beings
  • 7.4. Immune & Digestive Health
  • 7.5. Bone & Joint Health
  • 7.6. Heart Health
  • 7.7. Others Specific Requirements (Supplements, Anti-Allergies & Eye Health)
• 8. Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Region
  • 8.1. South Gyeongsang
  • 8.2. North Jeolla
  • 8.3. South Jeolla
  • 8.4. Jeju
  • 8.5. Rest of Korea
• 9. South Gyeongsang Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033
• 10. North Jeolla Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033
• 11. South Jeolla Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033
• 12. Jeju Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033
• 13. Rest of Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033
• 14. Market Structure Analysis
• 15. Competition Analysis
  • 15.1. Amway Corp.
  • 15.2. Glanbia PLC
  • 15.3. Abbott
  • 15.4. Bayer AG
  • 15.5. Pfizer Inc.
  • 15.6. ADM
  • 15.7. Nu Skin Enterprises, Inc.
  • 15.8. GlaxoSmithKline plc
  • 15.9. Bionova
  • 15.10. Ayanda
• 16. Assumptions & Acronyms Used
• 17. Research Methodology