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Country Report

Vitamins in

Vitamins in South Korea

22 pages, Feb 2019

US$990

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Executive Summary

New Report Guarantee

If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extract FREE!

PROSPECTS

Growing range of vitamins for an ageing population

The over 65-year-old population is considered the most profitable demographic in South Korea. The life expectancy of this demographic is increasing and senior consumers are investing more in their health as their disposable incomes rise.

Various formats gain popularity

While tablets continued to account for the majority of the market, various formats are gaining popularity in vitamins as the consumer base for these products widens. For example, chewable vitamins are a necessity in households with children and powder options appeal to consumers who wish to quickly and conveniently consume vitamins without water.

Strong online and offline retailing of vitamins

OTC products in South Korea are strictly controlled by regulation, and sold mainly via pharmacies under the guidance of pharmacists. On the other hand, vitamins enjoy much wider distribution through drugstores, department stores, modern grocery retailers, internet retailing and others.

COMPETITIVE LANDSCAPE

Korea Ginseng aims to widen its consumer base

Supported by its best-selling red ginseng root and extract offer, Korea Ginseng is seeking to develop as an innovative player at the forefront of vitamins in the country. The company is investing in marketing support for Cheong-Kwan-Jang, in order to appeal to consumers in their 20s and 30s, in particular.

Domestic manufacturers watch out for direct purchases from overseas

More consumers are using internet retailing to purchase vitamins from overseas markets. Incomparably low unit prices and a vast choice entice South Korean consumers to make such purchases.

New channel and format

The intake of vitamins is starting to be recognised as an important factor in maintaining health. As a result, some consumers are visiting medical clinics for vitamin injections when feeling below par or drowsy or to cure a hangover.

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Overview

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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.

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OVERVIEW

Discover the latest market trends and uncover sources of future market growth for the Vitamins 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 Vitamins industry in South Korea, our research will save you time and money while empowering you to make informed, profitable decisions.

The Vitamins 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 Vitamins in South Korea?
What are the major brands in South Korea?
Are combination products with acetaminophen still popular?

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.

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Vitamins in South Korea - Category analysis

HEADLINES

PROSPECTS

Growing range of vitamins for an ageing population

Various formats gain popularity

Strong online and offline retailing of vitamins

COMPETITIVE LANDSCAPE

Korea Ginseng aims to widen its consumer base

Domestic manufacturers watch out for direct purchases from overseas

New channel and format

CATEGORY DATA

Table 1 Sales of Vitamins by Category: Value 2013-2018
Table 2 Sales of Vitamins by Category: % Value Growth 2013-2018
Table 3 Sales of Multivitamins by Positioning: % Value 2013-2018
Table 4 NBO Company Shares of Vitamins: % Value 2014-2018
Table 5 LBN Brand Shares of Vitamins: % Value 2015-2018
Table 6 Forecast Sales of Vitamins by Category: Value 2018-2023
Table 7 Forecast Sales of Vitamins by Category: % Value Growth 2018-2023

Consumer Health in South Korea - Industry Overview

EXECUTIVE SUMMARY

Consumer preference and taste impacts performance

Consumer health posts more moderate retail value sales growth in 2018

Korea Ginseng leads consumer health in 2018

Dynamic distribution for vitamins and dietary supplements

Consumer health is approaching maturing

MARKET INDICATORS

Table 8 Consumer Expenditure on Health Goods and Medical Services: Value 2013-2018
Table 9 Life Expectancy at Birth 2013-2018

MARKET DATA

Table 10 Sales of Consumer Health by Category: Value 2013-2018
Table 11 Sales of Consumer Health by Category: % Value Growth 2013-2018
Table 12 NBO Company Shares of Consumer Health: % Value 2014-2018
Table 13 LBN Brand Shares of Consumer Health: % Value 2015-2018
Table 14 Distribution of Consumer Health by Format: % Value 2013-2018
Table 15 Distribution of Consumer Health by Format and Category: % Value 2018
Table 16 Forecast Sales of Consumer Health by Category: Value 2018-2023
Table 17 Forecast Sales of Consumer Health by Category: % Value Growth 2018-2023

Megatrends

Country Report

Vitamins in South Korea

New Report Guarantee

Executive Summary

New Report Guarantee

PROSPECTS

Growing range of vitamins for an ageing population

Various formats gain popularity

Strong online and offline retailing of vitamins

COMPETITIVE LANDSCAPE

Korea Ginseng aims to widen its consumer base

Domestic manufacturers watch out for direct purchases from overseas

New channel and format

Overview

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SAMPLES:

DELIVERY:

OVERVIEW

The Vitamins in South Korea market research report includes:

Our market research reports answer questions such as:

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Table of Contents

Vitamins in South Korea - Category analysis

HEADLINES

PROSPECTS

Growing range of vitamins for an ageing population

Various formats gain popularity

Strong online and offline retailing of vitamins

COMPETITIVE LANDSCAPE

Korea Ginseng aims to widen its consumer base

Domestic manufacturers watch out for direct purchases from overseas

New channel and format

CATEGORY DATA

Consumer Health in South Korea - Industry Overview

EXECUTIVE SUMMARY

Consumer preference and taste impacts performance

Consumer health posts more moderate retail value sales growth in 2018

Korea Ginseng leads consumer health in 2018

Dynamic distribution for vitamins and dietary supplements

Consumer health is approaching maturing

MARKET INDICATORS

MARKET DATA

APPENDIX

OTC registration and classification

Vitamins and dietary supplements registration and classification

Self-medication/self-care and preventive medicine

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