South Korea Dietary Supplements Market 2023 To Show Startling Growth During Forecast Period 2023-2028

The South Korea Dietary Supplements Market 2023 Report makes available the current and forthcoming technical and financial details of the industry. It is one of the most comprehensive and important additions to the Prudent Markets archive of market research studies. It offers detailed research and analysis of key aspects of the global South Korea Dietary Supplements market. This report explores all the key factors affecting the growth of the global South Korea Dietary Supplements market, including demand-supply scenario, pricing structure, profit margins, production, and value chain analysis.

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Report Overview

The South Korea dietary supplements market size stood at around USD xx billion in 2019 and is projected to reach xx billion by 2028, exhibiting a CAGR of around 2.24% during the forecast period.

Consumption of dietary supplements increases the nutrient intake and help to get the recommended amount of vitamins and minerals when the requirement is not met by food alone. People who are on low calorie diet, have a poor appetite or avoid certain foods (strict vegetarians, vegans) opt to take dietary supplements. Healthcare providers also recommend multivitamins and mineral supplements to patients with certain medical conditions such as osteoporosis, anaemia, and others. Poor diet quality rather than quantity is the major determinant of inadequate micronutrient status. Nutrient shortfalls have consequences that could impact daily life and overall well-being.

Market Drivers

The working population is struggling to achieve the daily nutrient requirements because of hectic work schedules and changing lifestyles. This is increasing their reliance on dietary supplements to comply with the nutrient needs, which is expected to drive the market over the forecast period.

Another key factor driving the growth of the market is increasing adoption of multivitamin and mineral supplements by the growing aging population. It is estimated that by 2050 Korea will be a super aged population. With aging population chronic diseases like obesity, cardiac problems and other are also on rise wherein the patient needs additional nutrition support.

Stringent government rules and regulations for labelling of dietary supplements impede the growth of market.

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Market Segmentation

By Ingredients:

On the basis of ingredients, the market is segmented into vitamins, calcium, minerals, proteins and amino acids, probiotics, red ginseng, omega-3 fatty acids, lutein.

The top five products, sales which were worth USD 2.71 billion, comprised 65 percent of the entire market in 2020. The top sellers included red ginseng, vitamins, probiotics, Omega-3 fatty acids, and lutein, among which sales of probiotics products soared to USD 0.58 billion won, up by 38.4 percent over the past two years. The market for lutein, a popular eye health supplement, expanded by 67.8 percent. Vitamins, on the contrary went down by 4.1 percent in 2019 and 2020. Calcium also dropped by 20 percent.

By Application:

According to clinical application market is segmented as general health (immunity), bone and joint health, cardiac health, gastrointestinal health, and others.

By Form:

According to the form of dietary supplements the market is segmented into tablets, capsules, soft gels, powders, liquids, and others.

Top Players

Major players operating in the dietary supplements market are Korea Ginseng Corporation, Amway, Korea Yakult, Korea Eundan, and Novarex. Other domestic players in market include Huons Natural, Well-being LS, Tobico Inc., MK Bio Science, Biogenics Korea, Mediogen, Alchemy, Hanmi Pharmaceuticals, and others.

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The report covers the competitive analysis of the market. As the demand is driven by a buyer's paying capacity and the rate of item development, the report shows the important regions that will direct growth. This section exclusively shares insight into the budget reports of big-league members of the market helping key players and new entrants understand the potential of investments in the Global South Korea Dietary Supplements Market. It can be better employed by both traditional and new players in the industry for complete know-how of the market.

Strategic Points Covered in Table of Content of Global South Korea Dietary Supplements Market:

Chapter 1: Introduction, market driving force product Objective of Study and Research Scope the South Korea Dietary Supplements market
Chapter 2: Exclusive Summary - the basic information of the South Korea Dietary Supplements Market.
Chapter 3: Displaying the Market Dynamics- Drivers, Trends and Challenges & Opportunities of the South Korea Dietary Supplements
Chapter 4: Presenting the South Korea Dietary Supplements Market Factor Analysis, Porters Five Forces, Supply/Value Chain, PESTEL analysis, Market Entropy, Patent/Trademark Analysis.
Chapter 5: Displaying the by Type, End User and Region/Country
Chapter 6: Evaluating the leading manufacturers of the South Korea Dietary Supplements market which consists of its Competitive Landscape, Peer Group Analysis, BCG Matrix & Company Profile
Chapter 7: To evaluate the market by segments, by countries and by Manufacturers/Company with revenue share and sales by key countries in these various regions
Chapter 8 & 9: Displaying the Appendix, Methodology and Data Source

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In conclusion, the South Korea Dietary Supplements Market report is a genuine source for accessing the research data which is projected to exponentially grow your business. The report provides information such as economic scenarios, benefits, limits, trends, market growth rates, and figures. SWOT analysis and PESTLE analysis is also incorporated in the report.

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