Consumer Health in South Korea

Report
112 Pages
October 2023
Region: South Korea
Euromonitor International
ID: 2598293

The self-medication trend is growing in South Korea, supporting further sales growth for analgesics, and cough, cold and allergy (hay fever) remedies, especially since the prevalence of the “tripledemic” in the country, consisting of COVID-19, influenza and seasonal colds as consumers have greater contact with others.

The Consumer Health in South Korea report offers a comprehensive guide to the size and shape of the market at a national level. It provides the latest retail sales data 2018-2022, allowing you to identify the sectors driving growth. Forecasts to 2027 illustrate how the market is set to change.

Product coverage: Allergy Care, Herbal/Traditional Products, OTC, Paediatric Consumer Health, Sports Nutrition, Vitamins and Dietary Supplements, Weight Management and Wellbeing.

Data coverage: market sizes (historic and forecasts), company shares, brand shares and distribution data.

Why buy this report?

Get a detailed picture of the Consumer Health market
Pinpoint growth sectors and identify factors driving change
Understand the competitive environment, the market’s major players and leading brands
Use five-year forecasts to assess how the market is predicted to develop.

CONSUMER HEALTH IN SOUTH KOREA

EXECUTIVE SUMMARY

Consumer health in 2023: The big picture
2023 key trends
Competitive landscape
Retailing developments
What next for consumer health?

MARKET INDICATORS

Table 1 Consumer Expenditure on Health Goods and Medical Services: Value 2018-2023
Table 2 Life Expectancy at Birth 2018-2023

MARKET DATA

Table 3 Sales of Consumer Health by Category: Value 2018-2023
Table 4 Sales of Consumer Health by Category: % Value Growth 2018-2023
Table 5 NBO Company Shares of Consumer Health: % Value 2019-2023
Table 6 LBN Brand Shares of Consumer Health: % Value 2020-2023
Table 7 Distribution of Consumer Health by Format: % Value 2018-2023
Table 8 Distribution of Consumer Health by Format and Category: % Value 2023
Table 9 Forecast Sales of Consumer Health by Category: Value 2023-2028
Table 10 Forecast Sales of Consumer Health by Category: % Value Growth 2023-2028

APPENDIX

OTC registration and classification
Vitamins and dietary supplements registration and classification
Self-medication/self-care and preventive medicine
Switches

DISCLAIMERDEFINITIONS

SOURCES

Summary 1 Research Sources

ANALGESICS IN SOUTH KOREAKEY DATA FINDINGS

2023 DEVELOPMENTS

“Tripledemic” in South Korea ensures demand for analgesics remains high
Average unit price of acetaminophen continues to rise, pushing demand for alternatives
Convenience stores continues to make gains but pharmacies remains dominant distribution channel for analgesics

PROSPECTS AND OPPORTUNITIES

Slowing growth for systemic analgesics but new formats could emerge
Local consumers will continue to value topical options, driven by ageing population and greater participation in physical activity
Vending of analgesics could offer greater accessibility to consumers if new law is passed

CATEGORY DATA

Table 11 Sales of Analgesics by Category: Value 2018-2023
Table 12 Sales of Analgesics by Category: % Value Growth 2018-2023
Table 13 NBO Company Shares of Analgesics: % Value 2019-2023
Table 14 LBN Brand Shares of Analgesics: % Value 2020-2023
Table 15 Forecast Sales of Analgesics by Category: Value 2023-2028
Table 16 Forecast Sales of Analgesics by Category: % Value Growth 2023-2028

COUGH, COLD AND ALLERGY (HAY FEVER) REMEDIES IN SOUTH KOREAKEY DATA FINDINGS

2023 DEVELOPMENTS

Liquid format increasingly favoured for treating colds and coughs
Products with a focus on specific symptoms are popular in South Korea
More varied distribution for cough, cold and allergy (hay fever) remedies

PROSPECTS AND OPPORTUNITIES

Brands intensify marketing campaigns to expand target audience
Dynamic performance predicted for antihistamines/allergy remedies (systemic) as seasonality of allergies is expanding
New formats and ingredients set to add interest to category

CATEGORY DATA

Table 17 Sales of Cough, Cold and Allergy (Hay Fever) Remedies by Category: Value 2018-2023
Table 18 Sales of Cough, Cold and Allergy (Hay Fever) Remedies by Category: % Value Growth 2018-2023
Table 19 NBO Company Shares of Cough, Cold and Allergy (Hay Fever) Remedies: % Value 2019-2023
Table 20 LBN Brand Shares of Cough, Cold and Allergy (Hay Fever) Remedies: % Value 2020-2023
Table 21 Forecast Sales of Cough, Cold and Allergy (Hay Fever) Remedies by Category: Value 2023-2028
Table 22 Forecast Sales of Cough, Cold and Allergy (Hay Fever) Remedies by Category: % Value Growth 2023-2028

DIGESTIVE REMEDIES IN SOUTH KOREAKEY DATA FINDINGS

2023 DEVELOPMENTS

Changing lifestyles ensure solid demand for digestive remedies but paediatric niche requires further investment
Ongoing supply chain challenges for motion sickness remedies
Domestic brands dominate fairly consolidated competitive landscape

PROSPECTS AND OPPORTUNITIES

Herbal/traditional digestive remedies offers further growth potential
Accessible formats and clear instructions to help consumers understand the specific benefits of digestive remedies
Players focus on marketing to reach younger generations

CATEGORY DATA

Table 23 Sales of Digestive Remedies by Category: Value 2018-2023
Table 24 Sales of Digestive Remedies by Category: % Value Growth 2018-2023
Table 25 NBO Company Shares of Digestive Remedies: % Value 2019-2023
Table 26 LBN Brand Shares of Digestive Remedies: % Value 2020-2023
Table 27 Forecast Sales of Digestive Remedies by Category: Value 2023-2028
Table 28 Forecast Sales of Digestive Remedies by Category: % Value Growth 2023-2028

DERMATOLOGICALS IN SOUTH KOREAKEY DATA FINDINGS

2023 DEVELOPMENTS

Mixed performance for mature dermatologicals in South Korea
Competition for hair loss treatments encourages players to make greater investments in category
Social stigma continues to negatively impact OTC sales of haemorrhoid treatments

PROSPECTS AND OPPORTUNITIES

Dynamic growth for hair loss treatments over the forecast period
Blurring of categories and industries
Stronger performance for topical antifungals in line with greater mobility

CATEGORY DATA

Table 29 Sales of Dermatologicals by Category: Value 2018-2023
Table 30 Sales of Dermatologicals by Category: % Value Growth 2018-2023
Table 31 NBO Company Shares of Dermatologicals: % Value 2019-2023
Table 32 LBN Brand Shares of Dermatologicals: % Value 2020-2023
Table 33 LBN Brand Shares of Hair Loss Treatments: % Value 2020-2023
Table 34 Forecast Sales of Dermatologicals by Category: Value 2023-2028
Table 35 Forecast Sales of Dermatologicals by Category: % Value Growth 2023-2028

NRT SMOKING CESSATION AIDS IN SOUTH KOREAKEY DATA FINDINGS

2023 DEVELOPMENTS

Demand for NRT smoking cessation aids continues to fall due to negative perception and Rx competition
Rising competition from alternative devices
Nicostop strengthens leadership of consolidated competitive landscape

PROSPECTS AND OPPORTUNITIES

Review of e-vapour products as alternatives to tobacco smoking
Government support to help consumers quit smoking

CATEGORY INDICATORS

Table 36 Number of Smokers by Gender 2018-2023

CATEGORY DATA

Table 37 Sales of NRT Smoking Cessation Aids by Category: Value 2018-2023
Table 38 Sales of NRT Smoking Cessation Aids by Category: % Value Growth 2018-2023
Table 39 NBO Company Shares of NRT Smoking Cessation Aids: % Value 2019-2023
Table 40 LBN Brand Shares of NRT Smoking Cessation Aids: % Value 2020-2023
Table 41 Forecast Sales of NRT Smoking Cessation Aids by Category: Value 2023-2028
Table 42 Forecast Sales of NRT Smoking Cessation Aids by Category: % Value Growth 2023-2028

SLEEP AIDS IN SOUTH KOREAKEY DATA FINDINGS

2023 DEVELOPMENTS

Brand marketing focuses on impact of stress and noise on consumers’ sleep quality
Local population’s lack of sleep drives up interest in holistic approach
Herbal/traditional sleep aids dominate

PROSPECTS AND OPPORTUNITIES

Strong performance for sleep aids over forecast period but further price rises likely
Sleep aids set to see further development of formats
Paediatric space offers development potential

CATEGORY DATA

Table 43 Sales of Sleep Aids: Value 2018-2023
Table 44 Sales of Sleep Aids: % Value Growth 2018-2023
Table 45 NBO Company Shares of Sleep Aids: % Value 2019-2023
Table 46 LBN Brand Shares of Sleep Aids: % Value 2020-2023
Table 47 Forecast Sales of Sleep Aids: Value 2023-2028
Table 48 Forecast Sales of Sleep Aids: % Value Growth 2023-2028

EYE CARE IN SOUTH KOREAKEY DATA FINDINGS

2023 DEVELOPMENTS

Standard eye care dominates demand, supported by rising digital screen use and younger consumers wearing contact lenses
Dynamic allergy eye care remains a niche due to Rx preference
Eye care remains dominated by imports

PROSPECTS AND OPPORTUNITIES

Strong performance for standard eye care but population increasingly likely to take more holistic approach to supporting eye health
Potential changes to disrupt eye care over the forecast period
Players likely to explore new formats to expand category and audience

CATEGORY DATA

Table 49 Sales of Eye Care by Category: Value 2018-2023
Table 50 Sales of Eye Care by Category: % Value Growth 2018-2023
Table 51 NBO Company Shares of Eye Care: % Value 2019-2023
Table 52 LBN Brand Shares of Eye Care: % Value 2020-2023
Table 53 Forecast Sales of Eye Care by Category: Value 2023-2028
Table 54 Forecast Sales of Eye Care by Category: % Value Growth 2023-2028

WOUND CARE IN SOUTH KOREAKEY DATA FINDINGS

2023 DEVELOPMENTS

Sticking plasters/adhesive bandages sees ongoing development of materials
Medifoam aims to retain convincing leadership through further product diversification

PROSPECTS AND OPPORTUNITIES

Players will continue to invest in innovative formats to drive interest and value
Wide distribution will continue to support demand for wound care
Gel format likely to remain popular as consumers focus on healing and repairing

CATEGORY DATA

Table 55 Sales of Wound Care by Category: Value 2018-2023
Table 56 Sales of Wound Care by Category: % Value Growth 2018-2023
Table 57 NBO Company Shares of Wound Care: % Value 2019-2023
Table 58 LBN Brand Shares of Wound Care: % Value 2020-2023
Table 59 Forecast Sales of Wound Care by Category: Value 2023-2028
Table 60 Forecast Sales of Wound Care by Category: % Value Growth 2023-2028

VITAMINS IN SOUTH KOREAKEY DATA FINDINGS2023 DEVELOPMENTS

Heightened health awareness continues to drive demand for vitamin C

Vitamin B is gaining in popularity among local consumers
Direct purchases from overseas e-commerce shopping platforms continue to drive online sales

PROSPECTS AND OPPORTUNITIES

Vitamin C to continue driving growth over forecast period as consumers adopt preventive approach to health
Premium multivitamins to support value sales
Effective marketing essential to maintain differentiation for producers of single vitamins

CATEGORY DATA

Table 61 Sales of Vitamins by Category: Value 2018-2023
Table 62 Sales of Vitamins by Category: % Value Growth 2018-2023
Table 63 Sales of Multivitamins by Positioning: % Value 2018-2023
Table 64 NBO Company Shares of Vitamins: % Value 2019-2023
Table 65 LBN Brand Shares of Vitamins: % Value 2020-2023
Table 66 Forecast Sales of Vitamins by Category: Value 2023-2028
Table 67 Forecast Sales of Vitamins by Category: % Value Growth 2023-2028

DIETARY SUPPLEMENTS IN SOUTH KOREAKEY DATA FINDINGS

2023 DEVELOPMENTS

Heightened health awareness supports strong demand for ginseng and probiotic supplements
Ongoing dynamic performance by protein supplements supported by ageing population
Greater interest in eye health due to ageing population and rising digitalisation

PROSPECTS AND OPPORTUNITIES

Premiumisation trend within dietary supplements set to accelerate
Parents with young children and older consumers comprise major target audience of dietary supplements
Korea Ginseng likely to retain solid leadership of dietary supplements following the easing of travel restrictions

CATEGORY DATA

Table 68 Sales of Dietary Supplements by Category: Value 2018-2023
Table 69 Sales of Dietary Supplements by Category: % Value Growth 2018-2023
Table 70 Sales of Dietary Supplements by Positioning: % Value 2018-2023
Table 71 NBO Company Shares of Dietary Supplements: % Value 2019-2023
Table 72 LBN Brand Shares of Dietary Supplements: % Value 2020-2023
Table 73 Forecast Sales of Dietary Supplements by Category: Value 2023-2028
Table 74 Forecast Sales of Dietary Supplements by Category: % Value Growth 2023-2028

WEIGHT MANAGEMENT AND WELLBEING IN SOUTH KOREAKEY DATA FINDINGS

2023 DEVELOPMENTS

Body-conscious consumers continue to seek help with their weight loss goals
New disruptor to the weight loss space
E-commerce strengthens its position as leading distribution channel

PROSPECTS AND OPPORTUNITIES

South Korea’s rising obesity rates will help drive further demand for weight management products
Further dynamic growth for supplement nutrition drinks to be driven by ageing population
Targeting younger consumers with alternative meal replacement options and digital healthcare services

CATEGORY DATA

Table 75 Sales of Weight Management and Wellbeing by Category: Value 2018-2023
Table 76 Sales of Weight Management and Wellbeing by Category: % Value Growth 2018-2023
Table 77 NBO Company Shares of Weight Management and Wellbeing: % Value 2019-2023
Table 78 LBN Brand Shares of Weight Management and Wellbeing: % Value 2020-2023
Table 79 Forecast Sales of Weight Management and Wellbeing by Category: Value 2023-2028
Table 80 Forecast Sales of Weight Management and Wellbeing by Category: % Value Growth 2023-2028

SPORTS NUTRITION IN SOUTH KOREAKEY DATA FINDINGS

2023 DEVELOPMENTS

Consumers of sports nutrition seek greater convenience
Increasing interest in non-animal sources of protein help to expand category
Maeil Dairies strengthens lead of consolidated competitive landscape

PROSPECTS AND OPPORTUNITIES

Health and wellness trend set to drive further strong performance by sports nutrition
Dynamic sports protein RTD to continue expanding and diversifying
Developing personal healthcare services can help players expand their consumer base

CATEGORY DATA

Table 81 Sales of Sports Nutrition by Category: Value 2018-2023
Table 82 Sales of Sports Nutrition by Category: % Value Growth 2018-2023
Table 83 NBO Company Shares of Sports Nutrition: % Value 2019-2023
Table 84 LBN Brand Shares of Sports Nutrition: % Value 2020-2023
Table 85 Forecast Sales of Sports Nutrition by Category: Value 2023-2028
Table 86 Forecast Sales of Sports Nutrition by Category: % Value Growth 2023-2028

HERBAL/TRADITIONAL PRODUCTS IN SOUTH KOREAKEY DATA FINDINGS

2023 DEVELOPMENTS

Concept of functional foods continues to offer competition to herbal/traditional dietary supplements
Herbal/traditional sleep aids remain popular as consumers prefer natural solutions to improve sleep quality
Korea Ginseng strengthens leadership of herbal/traditional products due to resumption of travel and demand for its popular red ginseng brand

PROSPECTS AND OPPORTUNITIES

Herbal/traditional dietary supplements will continue to drive sales but competition from functional foods will slow growth potential
Ageing population to support demand for Traditional Chinese Medicine
Herbal/traditional tonics to address overindulgence likely to remain popular

CATEGORY DATA

Table 87 Sales of Herbal/Traditional Products by Category: Value 2018-2023
Table 88 Sales of Herbal/Traditional Products by Category: % Value Growth 2018-2023
Table 89 NBO Company Shares of Herbal/Traditional Products: % Value 2019-2023
Table 90 LBN Brand Shares of Herbal/Traditional Products: % Value 2020-2023
Table 91 Forecast Sales of Herbal/Traditional Products by Category: Value 2023-2028
Table 92 Forecast Sales of Herbal/Traditional Products by Category: % Value Growth 2023-2028

PAEDIATRIC CONSUMER HEALTH IN SOUTH KOREAKEY DATA FINDINGS

2023 DEVELOPMENTS

Expansion of paediatric dietary supplements that address height growth concerns
Paediatric acetaminophen struggles with stock issues, driving up demand for alternatives
Korea Ginseng Corp retains overall leadership as sales start to improve

PROSPECTS AND OPPORTUNITIES

Declining birth rate means parents are more willing to spend on their children
Zero sugar trend unlikely to gain strong momentum in paediatric consumer health
Improving demand for paediatric motion sickness remedies in line with more frequent travel occasions

CATEGORY DATA

Table 93 Sales of Paediatric Consumer Health by Category: Value 2018-2023
Table 94 Sales of Paediatric Consumer Health by Category: % Value Growth 2018-2023
Table 95 NBO Company Shares of Paediatric Consumer Health: % Value 2019-2023
Table 96 LBN Brand Shares of Paediatric Consumer Health: % Value 2020-2023
Table 97 Forecast Sales of Paediatric Consumer Health by Category: Value 2023-2028
Table 98 Forecast Sales of Paediatric Consumer Health by Category: % Value Growth 2023-2028

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