Korean red ginseng was the most popular product in the health functional foods market in South Korea in 2022. Health functional foods refers to specific products made by compacting elements that are beneficial to the human body into easily consumable packages. They are consumed for their promoted health benefits, such as improving eyesight, countering natural aging, and strengthening the immune system. As a result of the ongoing COVID-19 pandemic, demand for such foods was increased.
Popular health functional foods
Red ginseng products were the most popular health functional foods. Their sales value exceeded over one trillion South Korean won. Red ginseng is made by steaming and drying ginseng for preservation and it is reddish in color. Sales of red ginseng products accounted for almost 32 percent of the total, bolstering its marketing as a health supplement for all occasions. Another popular type of health functional food were probiotic products, with a steadily increasing sales value. A very common and well-known example is the Yakult drink.
Top health functional food producers
The leading companies producing health functional foods in South Korea were the two plants of the Korea Ginseng Corporation, in Wonju and Buyeo. Together, they generated around 800 billion won in sales, several times greater than the pharmaceutical company Chong Kun Dang. This shows the immense popularity of Korean ginseng as a health functional food. In fourth place was Korea Yakult, with sales of almost 190 billion won. Although it produces various beverages, Korea Yakult is perhaps best known for its Yakult, a popular probiotic drink originally invented in Japan but sold in various countries across Asia.
Distribution of health functional product sales in the South Korean market in 2022, by type
* According to the Ministry of Food and Drug Safety, approved ingredients, unlike notified ingredients, are the type of ingredients that be used for meal or replace conventional food and are approved by the Ministry of Food and Drug Safety of South Korea upon reviewing applications from individual business holders.
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MFDS (South Korea). (July 28, 2023). Distribution of health functional product sales in the South Korean market in 2022, by type [Graph]. In Statista. Retrieved September 19, 2024, from https://www.statista.com/statistics/791667/south-korea-health-functional-food-bestseller-market-share/
MFDS (South Korea). "Distribution of health functional product sales in the South Korean market in 2022, by type." Chart. July 28, 2023. Statista. Accessed September 19, 2024. https://www.statista.com/statistics/791667/south-korea-health-functional-food-bestseller-market-share/
MFDS (South Korea). (2023). Distribution of health functional product sales in the South Korean market in 2022, by type. Statista. Statista Inc.. Accessed: September 19, 2024. https://www.statista.com/statistics/791667/south-korea-health-functional-food-bestseller-market-share/
MFDS (South Korea). "Distribution of Health Functional Product Sales in The South Korean Market in 2022, by Type." Statista, Statista Inc., 28 Jul 2023, https://www.statista.com/statistics/791667/south-korea-health-functional-food-bestseller-market-share/
MFDS (South Korea), Distribution of health functional product sales in the South Korean market in 2022, by type Statista, https://www.statista.com/statistics/791667/south-korea-health-functional-food-bestseller-market-share/ (last visited September 19, 2024)
Distribution of health functional product sales in the South Korean market in 2022, by type [Graph], MFDS (South Korea), July 28, 2023. [Online]. Available: https://www.statista.com/statistics/791667/south-korea-health-functional-food-bestseller-market-share/