Health functional food bestseller market share in South Korea 2023, by type
Korean red ginseng was the most popular product in the health functional foods market in South Korea in 2023. 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.
Popular health functional foods
Red ginseng products were the most popular health functional foods. Their sales value hovered around one trillion South Korean won in the last years. 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 22 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 a large sales revenue, that was 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.
