Herbal/traditional products is expected to record low but positive value growth (at constant 2022 prices) over the forecast period, as local consumers increasingly focus on their health, along with the rising health and wellness trend, boosted by the pandemic. In addition, the population in South Korea is ageing, and herbal/traditional products will remain a popular choice among this older demographic as they believe in the ingredients and functions of herbal/traditional products.
Demand for certain herbal/traditional products is expected to increase in line with a greater interest in natural solutions and a preventive health mindset post-pandemic, particularly driving up growth of herbal/traditional paediatric dietary supplements, and supporting stable demand for herbal/traditional dietary supplements and herbal/traditional tonics targeting adults. However, major brands have been increasing their retail prices in 2022, in line with supply chain issues and rising manufacturing costs.
Many local consumers are concerned about using prescription sleep aids that contain zolpidem, in particular. They are concerned about safety issues such as misuse and overdose in addition to an overreliance on these products.
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Understand the latest market trends and future growth opportunities for the Herbal/Traditional Products industry in South Korea with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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Botanicals or traditional remedies are products that have a long tradition of use, decades of established reputation, and are considered alternative remedies to standard medicine. Traditional medicine remedies such as Ayurveda, Traditional Chinese Medicine (TCM), Unani, Kampo, etc. are included. Homeopathic remedies are excluded. Only packaged products are tracked.See All of Our Definitions
This report originates from Passport, our Herbal/Traditional Products research and analysis database.
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