The outbreak of COVID-19 heightened consumer interest in enhancing their health and immune system, and this trend has boosted sales of these products. In 2020, the market for health functional foods in South Korea reached CHF 4.5 billion with a 6.6% growth year-on-year, according to the Korea Health Supplements Association.
More health-conscious consumers – how can Swiss suppliers benefit?
The association attributed this growth to an increase in health-conscious consumers amid a global pandemic, and new releases of diverse brands. In 2020, Korean households spent an average of CHF 290 on health functional foods, and 8 out of 10 households purchased such products at least once a year. Red ginseng, probiotics, vitamins including multi-vitamins, and edible oils containing EPA and DHA, known as omega-3 are the four best-selling items in 2020.
Fact sheet by our local experts
As the fact sheet provided by the Swiss Business Hub South Korea shows: Both local productions and imports of health functional foods have seen rapidly and continuous growth for the last five years. Find more insights on the following topics in the fact sheet:
- Market overview
- Opportunities and challenges
- Market development (distribution channels, major import products)
- Key players
- Support and contacts for Swiss food exporters