Dietary Supplements in South Korea

PROSPECTS

Dietary supplements yet to reach maturity in South Korea

Dietary supplements in South Korea is still developing in terms of product type and variety. International brands offer a wide range of products and benefits, but most domestic brands focus on a few popular types, such as probiotic supplements and eye health supplements.

Focus on ingredients set to gain importance

Domestically-manufactured products lack any type of claim, such as non-GMO or suitable for vegetarians. Rather, consumers are more focused on intuitive factors with regard to ingredients.

Non-store retailing develops

Non-store retailing is not seeing dynamic growth, but the channel is becoming crucial in terms of brand penetration in dietary supplements. As dietary supplements are consumed on a daily basis, more consumers are using internet retailing for routine, habitual purchases and homeshopping for bulk purchases.

COMPETITIVE LANDSCAPE

Domestic manufacturers and direct selling companies lead the way

Along with direct selling companies, domestic manufacturers lead dietary supplements in South Korea. Although local brands tend to carry higher prices than imported brands, consumers prefer to purchase locally-sourced products for gift purposes.

Opportunities for private label in dietary supplements

Private label is not significant in consumer health in South Korea. Nonetheless, dietary supplements is one of the categories where private label is a suitable option for retailers looking for significant development.

Yuhan’s New Origin reflects global trends

While Yuhan has a developed OTC portfolio, it lacks a strong brand in vitamins and dietary supplements. Thus, the company launched the New Origin brand in 2018, supported by a new concept store under the same name.

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