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% |
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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% |
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% |
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
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| 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 |
The industry size of dietary supplement in Korea is valued at USD 1,561.41 million in Korea in 2023.
The dietary supplement industry is forecasted to develop at a rate of 10.4% in Korea from 2023 to 2033.
The industry size for dietary supplement is forecasted to reach USD 4,181.92 million in Korea by 2033.
Korea Ginseng Corporation, ChongKunDang Healthcare, Dong-A Pharmaceutical, and Kolmar Korea are some of the prominent companies that sell dietary supplement in Korea.
Dietary supplement is commonly taken in the form of soft gels/pills in Korea.
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
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Demand and Trends Analysis of Dietary Supplements in Korea
