Executive Summary

Oct 2019
Growth continues, but slows due to increasing maturity

Whilst consumer health continued to see retail current value growth in 2019, this was lower than in the previous three years due to increasing maturity. OTC is still heavily restricted compared with in other developed countries.

Product development important to maintain consumers’ interest

Consumer health in South Korea is seeing dynamic development. Product developments by manufacturers are informed by regular research and analysis of consumers’ purchasing habits.

Meeting the needs of local consumers ensures the lead of local players

Korea Ginseng Corp maintained its strong lead in consumer health in value terms in 2019. It was the only player to hold a double-digit value share, and continued to increase its value sales and share in this year.

Stricter control on OTC distribution than vitamins and dietary supplements

OTC products remain strictly controlled by the authorities, and they are mainly distributed through chemists/pharmacies after consultation with a pharmacist. Some specific milder OTC products are sold via convenience stores and grocery retailers.

Innovation and the health trend will ensure continued growth despite maturity

Consumer health is expected to continue to see current value growth in the forecast period. However, growth is expected to be slower than that seen in the review period, and a slowing growth trend is expected over the forecast period due to increasing maturity.

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Consumer Health in South Korea

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Overview

Discover the latest market trends and uncover sources of future market growth for the Consumer Health industry in South Korea with research from Euromonitor's team of in-country analysts.

Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.

If you're in the Consumer Health industry in South Korea, our research will save you time and money while empowering you to make informed, profitable decisions.

When you purchase this report, you also get the data and the content from these category reports in South Korea for free:

The Consumer Health in South Korea market research report includes:

  • Analysis of key supply-side and demand trends
  • Detailed segmentation of international and local products
  • Historic volumes and values, company and brand market shares
  • Five year forecasts of market trends and market growth  
  • Robust and transparent market research methodology, conducted in-country

Our market research reports answer questions such as:

  • What is the market size of Consumer Health in South Korea?
  • What are the major brands in South Korea?
  • What are the main trends in OTC Healthcare?

Why buy this report?

  • Gain competitive intelligence about market leaders
  • Track key industry trends, opportunities and threats
  • Inform your marketing, brand, strategy and market development, sales and supply functions

This industry report originates from Passport, our Consumer Health market research database.

Consumer Health in South Korea

EXECUTIVE SUMMARY

Growth continues, but slows due to increasing maturity
Product development important to maintain consumers’ interest
Meeting the needs of local consumers ensures the lead of local players
Stricter control on OTC distribution than vitamins and dietary supplements
Innovation and the health trend will ensure continued growth despite maturity

MARKET INDICATORS

Table 1 Consumer Expenditure on Health Goods and Medical Services: Value 2014-2019
Table 2 Consumer Expenditure on Health Goods and Medical Services: Value 2014-2019
Table 3 Life Expectancy at Birth 2014-2019

MARKET DATA

Table 4 Sales of Consumer Health by Category: Value 2014-2019
Table 5 Sales of Consumer Health by Category: % Value Growth 2014-2019
Table 6 NBO Company Shares of Consumer Health: % Value 2015-2019
Table 7 LBN Brand Shares of Consumer Health: % Value 2016-2019
Table 8 Distribution of Consumer Health by Format: % Value 2014-2019
Table 9 Distribution of Consumer Health by Format and Category: % Value 2019
Table 10 Forecast Sales of Consumer Health by Category: Value 2019-2024
Table 11 Forecast Sales of Consumer Health by Category: % Value Growth 2019-2024

APPENDIX

OTC registration and classification
Vitamins and dietary supplements registration and classification
Self-medication/self-care and preventive medicine
Switches

DEFINITIONS

SOURCES

Summary 1 Research Sources

Analgesics in South Korea

HEADLINES

PROSPECTS

Harsh environment positively affects demand for analgesics
Patch topical analgesics/anaesthetic dominates due to efficacy
New products come in liquid/gel format and tailored to distribution channels

COMPETITIVE LANDSCAPE

Domestic manufacturers enjoy a strong presence in analgesics
Slow new product development in analgesics due to maturity
Acetaminophen ER products face safety concerns

CATEGORY DATA

Table 12 Sales of Analgesics by Category: Value 2014-2019
Table 13 Sales of Analgesics by Category: % Value Growth 2014-2019
Table 14 NBO Company Shares of Analgesics: % Value 2015-2019
Table 15 LBN Brand Shares of Analgesics: % Value 2016-2019
Table 16 Forecast Sales of Analgesics by Category: Value 2019-2024
Table 17 Forecast Sales of Analgesics by Category: % Value Growth 2019-2024

Cough, Cold and Allergy (Hay Fever) Remedies in South Korea

HEADLINES

PROSPECTS

Fine dust stimulates demand for nasal sprays
Harsh weather supports cough, cold and allergy (hay fever) remedies
High reliance on prescribed medication and health insurance hampers OTC growth

COMPETITIVE LANDSCAPE

Local brands lead, but international players also perform well
Promotion by local and international brands to communicate product efficacy
Brand extension takes advantage of growth in nasal sprays

CATEGORY DATA

Table 18 Sales of Cough, Cold and Allergy (Hay Fever) Remedies by Category: Value 2014-2019
Table 19 Sales of Cough, Cold and Allergy (Hay Fever) Remedies by Category: % Value Growth 2014-2019
Table 20 NBO Company Shares of Cough, Cold and Allergy (Hay Fever) Remedies: % Value 2015-2019
Table 21 LBN Brand Shares of Cough, Cold and Allergy (Hay Fever) Remedies: % Value 2016-2019
Table 22 Forecast Sales of Cough, Cold and Allergy (Hay Fever) Remedies by Category: Value 2019-2024
Table 23 Forecast Sales of Cough, Cold and Allergy (Hay Fever) Remedies by Category: % Value Growth 2019-2024

Dermatologicals in South Korea

HEADLINES

PROSPECTS

Differences in performances, with haemorrhoid treatments particularly suffering
Branding affects dermatologicals, with advertising an important factor
Cosmetics manufacturers and brands act as disruptors, hampering growth

COMPETITIVE LANDSCAPE

Fucidin and Madecassol lead dermatologicals with product and packaging innovation
After a meteoric rise, Fulcare sees a declining share
Competitive landscape shows little movement, with no private label presence

CATEGORY DATA

Table 24 Sales of Dermatologicals by Category: Value 2014-2019
Table 25 Sales of Dermatologicals by Category: % Value Growth 2014-2019
Table 26 NBO Company Shares of Dermatologicals: % Value 2015-2019
Table 27 LBN Brand Shares of Dermatologicals: % Value 2016-2019
Table 28 LBN Brand Shares of Hair Loss Treatments: % Value 2016-2019
Table 29 Forecast Sales of Dermatologicals by Category: Value 2019-2024
Table 30 Forecast Sales of Dermatologicals by Category: % Value Growth 2019-2024

Dietary Supplements in South Korea

HEADLINES

PROSPECTS

Dietary supplements yet to reach maturity in South Korea
Focus on ingredients set to gain importance
Non-store retailing continues to develop thanks to wide variety and low prices

COMPETITIVE LANDSCAPE

Domestic players and direct sellers lead the way, with opportunities for private label
Strong growth for Chong Kun Dang Healthcare Corp thanks to probiotic supplements
Yuhan’s New Origin reflects global trends

CATEGORY DATA

Table 31 Sales of Dietary Supplements by Category: Value 2014-2019
Table 32 Sales of Dietary Supplements by Category: % Value Growth 2014-2019
Table 33 Sales of Dietary Supplements by Positioning: % Value 2014-2019
Table 34 NBO Company Shares of Dietary Supplements: % Value 2015-2019
Table 35 LBN Brand Shares of Dietary Supplements: % Value 2016-2019
Table 36 Forecast Sales of Dietary Supplements by Category: Value 2019-2024
Table 37 Forecast Sales of Dietary Supplements by Category: % Value Growth 2019-2024

Digestive Remedies in South Korea

HEADLINES

PROSPECTS

Herbal/traditional digestive remedies loses ground as consumers seek alternatives
Laxatives leads growth, but could face competition in the forecast period
Opportunities for growth through potentially wider distribution

COMPETITIVE LANDSCAPE

Domestic manufacturers lead digestive remedies
Few new brand launches leads to more marketing and advertising
Gaviscon sees an ongoing decline in its share due to company boycott

CATEGORY DATA

Table 38 Sales of Digestive Remedies by Category: Value 2014-2019
Table 39 Sales of Digestive Remedies by Category: % Value Growth 2014-2019
Table 40 NBO Company Shares of Digestive Remedies: % Value 2015-2019
Table 41 LBN Brand Shares of Digestive Remedies: % Value 2016-2019
Table 42 Forecast Sales of Digestive Remedies by Category: Value 2019-2024
Table 43 Forecast Sales of Digestive Remedies by Category: % Value Growth 2019-2024

Eye Care in South Korea

HEADLINES

PROSPECTS

Rising air pollution and use of contact lenses support sales
Prescription demand holds back allergy eye care
Trade war with Japan could hamper growth in the product range in eye care

COMPETITIVE LANDSCAPE

New launches early in the review period grow rapidly to take leading positions
Trade war could lead to changes in the competitive landscape
Few recent launches, with a focus on building relationships with retailers

CATEGORY DATA

Table 44 Sales of Eye Care by Category: Value 2014-2019
Table 45 Sales of Eye Care by Category: % Value Growth 2014-2019
Table 46 NBO Company Shares of Eye Care: % Value 2015-2019
Table 47 LBN Brand Shares of Eye Care: % Value 2016-2019
Table 48 Forecast Sales of Eye Care by Category: Value 2019-2024
Table 49 Forecast Sales of Eye Care by Category: % Value Growth 2019-2024

Herbal/Traditional Products in South Korea

HEADLINES

PROSPECTS

Belief in Traditional Chinese Medicine supports herbal/traditional products
More specific positioning for dietary supplements
Herbal/traditional combination supplements offer complexity

COMPETITIVE LANDSCAPE

Frequent launches contribute to increasing Korea Ginseng’s lead
Local direct selling brand Atomy meets consumers’ needs
Herbal/traditional hangover cures are popular, but will face challenges

CATEGORY DATA

Table 50 Sales of Herbal/Traditional Products by Category: Value 2014-2019
Table 51 Sales of Herbal/Traditional Products by Category: % Value Growth 2014-2019
Table 52 NBO Company Shares of Herbal/Traditional Products: % Value 2015-2019
Table 53 LBN Brand Shares of Herbal/Traditional Products: % Value 2016-2019
Table 54 Forecast Sales of Herbal/Traditional Products by Category: Value 2019-2024
Table 55 Forecast Sales of Herbal/Traditional Products by Category: % Value Growth 2019-2024

NRT Smoking Cessation Aids in South Korea

HEADLINES

PROSPECTS

Smoking ban fails to boost sales of NRT smoking cessation aids
Alternative methods of quitting hamper growth in NRT smoking cessation aids
Changing to new formats rather than giving up smoking

COMPETITIVE LANDSCAPE

High brand recognition ensures Johnson & Johnson’s dominance
Little activity and no new entrants in a small and unappealing category
Manufacturers turn to other options due to low sales

CATEGORY DATA

Table 56 Sales of NRT Smoking Cessation Aids by Category: Value 2014-2019
Table 57 Sales of NRT Smoking Cessation Aids by Category: % Value Growth 2014-2019
Table 58 NBO Company Shares of NRT Smoking Cessation Aids: % Value 2015-2019
Table 59 LBN Brand Shares of NRT Smoking Cessation Aids: % Value 2016-2019
Table 60 Forecast Sales of NRT Smoking Cessation Aids by Category: Value 2019-2024
Table 61 Forecast Sales of NRT Smoking Cessation Aids by Category: % Value Growth 2019-2024

Paediatric Consumer Health in South Korea

HEADLINES

PROSPECTS

Paediatric vitamins and dietary supplements drives growth
Health professionals affect growth in paediatric vitamins and dietary supplements
Product launches which cover both adults and children could hamper growth

COMPETITIVE LANDSCAPE

Korea Ginseng remains the key player
Vitamins and dietary supplements brands lead due to the strength of this category
Peer reviews inform purchasing decisions

CATEGORY DATA

Table 62 Sales of Paediatric Consumer Health by Category: Value 2014-2019
Table 63 Sales of Paediatric Consumer Health by Category: % Value Growth 2014-2019
Table 64 Sales of Paediatric Vitamins and Dietary Supplements by Type: % Value 2016-2019
Table 65 NBO Company Shares of Paediatric Consumer Health: % Value 2015-2019
Table 66 LBN Brand Shares of Paediatric Consumer Health: % Value 2016-2019
Table 67 Forecast Sales of Paediatric Consumer Health by Category: Value 2019-2024
Table 68 Forecast Sales of Paediatric Consumer Health by Category: % Value Growth 2019-2024

Sleep Aids in South Korea

HEADLINES

PROSPECTS

Herbal/traditional products dominate due to negative image of standard products
High reliance on prescriptions restrains growth potential of OTC products
Change in consumer perception may favour sleep aids in the forecast period

COMPETITIVE LANDSCAPE

Domestic dominance in sleep aids
A strong relationship with chemists/pharmacies is important for growth
Attempts to take share from Woo Hwang Chung Sim Won have been unsuccessful

CATEGORY DATA

Table 69 Sales of Sleep Aids: Value 2014-2019
Table 70 Sales of Sleep Aids: % Value Growth 2014-2019
Table 71 NBO Company Shares of Sleep Aids: % Value 2015-2019
Table 72 LBN Brand Shares of Sleep Aids: % Value 2016-2019
Table 73 Forecast Sales of Sleep Aids: Value 2019-2024
Table 74 Forecast Sales of Sleep Aids: % Value Growth 2019-2024

Sports Nutrition in South Korea

HEADLINES

PROSPECTS

More active consumers unlock sports nutrition
Expansion of the consumer base
Sports protein RTD has opportunities for expansion

COMPETITIVE LANDSCAPE

Strong growth for start-up Ignis and decline for Herbalife
Consumer distrust in local goods leads to an increase in directly imported goods
Players in protein/energy bars appeal with good flavour and texture

CATEGORY DATA

Table 75 Sales of Sports Nutrition by Category: Value 2014-2019
Table 76 Sales of Sports Nutrition by Category: % Value Growth 2014-2019
Table 77 NBO Company Shares of Sports Nutrition: % Value 2015-2019
Table 78 LBN Brand Shares of Sports Nutrition: % Value 2016-2019
Table 79 Forecast Sales of Sports Nutrition by Category: Value 2019-2024
Table 80 Forecast Sales of Sports Nutrition by Category: % Value Growth 2019-2024

Vitamins in South Korea

HEADLINES

PROSPECTS

Multivitamins dominates, but vitamin B sees strong growth
Consumers are attracted by delivery formats other than tablets
Strong online and offline sales of vitamins; challenge from overseas sales

COMPETITIVE LANDSCAPE

Direct selling player Amway leads, but could be challenged by new entrants
Trade war could affect the shares of Japanese players
Different product variants under one brand to attract different consumer groups

CATEGORY DATA

Table 81 Sales of Vitamins by Category: Value 2014-2019
Table 82 Sales of Vitamins by Category: % Value Growth 2014-2019
Table 83 Sales of Multivitamins by Positioning: % Value 2014-2019
Table 84 NBO Company Shares of Vitamins: % Value 2015-2019
Table 85 LBN Brand Shares of Vitamins: % Value 2016-2019
Table 86 Forecast Sales of Vitamins by Category: Value 2019-2024
Table 87 Forecast Sales of Vitamins by Category: % Value Growth 2019-2024

Weight Management and Wellbeing in South Korea

HEADLINES

PROSPECTS

Supplement nutrition drinks sees divergence of product types and purposes
Meal replacement declines as consumers prefer to eat well and take supplements
Launch of new formats and differentiation from sports nutrition stimulates interest

COMPETITIVE LANDSCAPE

Local start-up TGRN takes the lead from international player Herbalife
New entrants aim to develop brand loyalty
Blurred line between meal replacement and other categories causes confusion

CATEGORY DATA

Table 88 Sales of Weight Management and Wellbeing by Category: Value 2014-2019
Table 89 Sales of Weight Management and Wellbeing by Category: % Value Growth 2014-2019
Table 90 NBO Company Shares of Weight Management and Wellbeing: % Value 2015-2019
Table 91 LBN Brand Shares of Weight Management and Wellbeing: % Value 2016-2019
Table 92 Forecast Sales of Weight Management and Wellbeing by Category: Value 2019-2024
Table 93 Forecast Sales of Weight Management and Wellbeing by Category: % Value Growth 2019-2024

Wound Care in South Korea

HEADLINES

PROSPECTS

Strong popularity of gauze, tape and other wound care due to efficacy
Brands of sticking plasters/adhesive bandages appeal through licensing
Wider distribution for wound care

COMPETITIVE LANDSCAPE

Medifoam dominates due to its powerful positioning
Strong competition leads to in-store promotion
New launches sees different performances

CATEGORY DATA

Table 94 Sales of Wound Care by Category: Value 2014-2019
Table 95 Sales of Wound Care by Category: % Value Growth 2014-2019
Table 96 NBO Company Shares of Wound Care: % Value 2015-2019
Table 97 LBN Brand Shares of Wound Care: % Value 2016-2019
Table 98 Forecast Sales of Wound Care by Category: Value 2019-2024
Table 99 Forecast Sales of Wound Care by Category: % Value Growth 2019-2024