Herbal raw material market size in South Korea 2012-2018

In 2018, the market for raw materials used in herbal medicine in South Korea was worth approximately 327 billion South Korean won, around 11 percent higher than in the preceding year. The market size was largest in 2016, when it was worth approximately 348 billion won.

Size of the herbal medicine raw material market in South Korea from 2012 to 2018

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Source

Release date

December 2019

Region

South Korea

Survey time period

2012 to 2018

Supplementary notes

In order to calculate the market size of herbal medicine raw materials, the following formula was applied:
Market size = (Production value) - (Export value) + (Import value)

Note: 1,000 South Korean won equal 0.84 U.S. dollars and 0.76 euros (as of February 2020).

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