1. Market Research
  2. > Food
  3. > Packaged Food
  4. > Functional Food
  5. > Nutraceutical Market Trends

South Korea Nutraceuticals Industry Outlook to 2017- Sales of Ginseng Products to Drive Revenues

  • April 2014
  • 54 pages
  • Ken Research Private Limited
Report ID: 2153932

Summary

Table of Contents

EXECUTIVE SUMMARY

The report titled “South Korea Nutraceuticals Industry Outlook to 2017- Sales of Ginseng Products to Drive Revenues” provides a detailed analysis of the industry covering various aspects including market size in terms of revenues, market segmentation on the basis of ingredients, distribution channels and types of establishments and industry developments in the past. The report also includes competitive landscape and market share of the major players operating in the industry. The future projections are included to provide an insight on the prospects in the South Korea nutraceuticals market.

South Korea has been amongst the major nations for functional products in the Asia-Pacific market. The consumption of the functional food as well as the nutritional supplements in South Korea is primarily ingredient-oriented. Red Ginseng has been the major selling functional food and supplement ingredient in the country for several years and accounts for more than half of the market revenues. Apart from this, vitamin and mineral supplements, aloe and omega-3 fatty acids having also been gaining increasing market shares.

The growth of the nutraceuticals industry in South Korea is largely supported by the historical familiarity with herbal medicines and growing consumption of fortified food for health benefits. Additionally, utilizing food as medicines and practice of preventive medicines has been a part of the culture. The supportive macroeconomic environment prevailing in the developed and a high income South Korean economy has helped to fortify the revenues of the nutraceuticals industry over the years. The country is also characterized by a comparatively low level of unemployment, although the current age structure predominantly features young population. In the next ten years, the proportion of old age people is expected to soar significantly. Additionally, the large metropolitan environment of Seoul and Busan has been considered ideal for selling of the nutraceuticals products by several companies.

The marketplace of the health functional food market in South Korea is inhabited by both the domestic and international players. However, as the Korean economy is trade-oriented, a significant percentage of the ingredients and food products are imported. People have developed growing affinity towards safe and healthy food, which has been evident from the surging demand for organic and functional food in the country.

The fast ageing rate of the population in South Korea is expected to be the prime growth driver of the burgeoning growth of the nutraceuticals industry. Vitamins and other dietary supplements are anticipated to be the epicenter of the increasing traction of the nutraceutical sector in the country. This segment of nutraceuticals is expected to register the maximum growth in consumption, largely due to the rising old population of South Korea. The trend of utilizing supplements for meal-replacement, weight-loss and sports nutrition purposes is rapidly gaining acceptance and is expected to widen the scope of the market.

KEY TOPICS COVERED IN THE REPORT


- The market size of the South Korea Nutraceuticals industry on the basis of revenues and number of establishments
- Market segmentation of the South Korea Nutraceuticals industry on the basis of Distribution, Types of Establishments and Ingredients
- Consumer Buying Behavior of Nutraceuticals
- Competitive landscape and market shares of the major players in the South Korea Dietary Supplements market
- Imports and Exports of Nutraceuticals in South Korea
- Trends and Developments prevailing in the South Korea Nutraceuticals industry
- Future outlook and projections of the South Korea Nutraceuticals industry on the basis of revenues.
- Macroeconomic Variables affecting South Korea Nutraceuticals Industry

Get Industry Insights. Simply.

  • Latest reports & slideshows with insights from top research analysts
  • 60 Million searchable statistics with tables, figures & datasets
  • More than 25,000 trusted sources
  • Single User License — provides access to the report by one individual.
  • Department License — allows you to share the report with up to 5 users
  • Site License — allows the report to be shared amongst all employees in a defined country
  • Corporate License — allows for complete access, globally.

Ahmad helps you find the right report:

Testimonials

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

We were impressed with the support that ReportLinker’s research specialists’ team provided. The report we purchased was useful and provided exactly what we want.

Category Manager at
Ikea

ReportLinker gave access to reliable and useful data while avoiding dispersing resources and spending too much time on unnecessary research.

Executive Director at
PwC Advisory

The customer service was fast, responsive, and 100% professional in all my dealings (...) If we have more research needs, I'll certainly prioritize working with ReportLinker!

Scott Griffith

Vice President Marketing at
Maurice Sporting Goods

The research specialist provided prompt, helpful instructions for accessing ReportLinker's product. He also followed up to make sure everything went smoothly and to ensure an easy transition to the next stage of my research

Jessica P Huffman

Research Associate at
American Transportation Research Institute

Excellent customer service. Very responsive and fast.

Director, Corporate Strategy at
Ingredion

I reached out to ReportLinker for a detailed market study on the Air Treatment industry. The quality of the report, the research specialist’s willingness to solve my queries exceeded my expectations. I would definitely recommend ReportLinker for in-depth industry information.

Mariana Mendoza

Global Platform Senior Manager at
Whirlpool Corporation

Thanks! I like what you've provided and will certainly come back if I need to do further research works.

Bee Hin Png

CEO at
LDR Pte Ltd

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

Purchase Reports From Reputable Market Research Publishers

Nutraceuticals: Global Markets

  • $ 6650
  • Industry report
  • March 2017
  • by BCC Research

Use this report to: - Analyze market strategies, patent evaluation and driving forces of the nutraceutical market. - Assess projections for nutraceuticals for various geographical regions. - Compare premium ...

Nutraceuticals Market - U.S. Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 - 2025

  • $ 5795
  • Industry report
  • April 2017
  • by Transparency Market Research

U.S. Nutraceuticals Market: Overview Transparency Market Research offer an 8-year forecast for the U.S nutraceuticals market between 2016 and 2024. In terms of value, the market is expected to registe ...

Global Nutraceutical Ingredient Market Forecast 2017-2025

  • $ 2475
  • Industry report
  • June 2017
  • by Inkwood Research

KEY FINDINGS The Global Nutraceutical Ingredient market was worth $29540 million in 2016. It is expected to grow at a CAGR of 7.57% during the forecast period of 2017-2025 and is estimated to be worth ...


ref:plp2014

Reportlinker.com © Copyright 2017. All rights reserved.

ReportLinker simplifies how Analysts and Decision Makers get industry data for their business.