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.
Consumer health in South Korea is seeing dynamic development. Product developments by manufacturers are informed by regular research and analysis of consumers’ purchasing habits.
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.
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.
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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This industry report originates from Passport, our Consumer Health market research database.