​Discover Korea’s USD 3.6 billion nutraceuticals market at Vitafoods Asia 2019

11 September 2019, SINGAPORE - South Korea’s nutraceuticals market is worth some USD 3.6 billion. 89.3 percent of Korean households take health supplements, particularly vitamins and minerals. Senior citizens prefer the herbal ginseng supplements, whereas teenagers are taking lactic and probiotic supplements, and sales grow by word-of-mouth referrals. Popular nutraceuticals also include health and nutritional supplements, herbal supplements, fibre supplements and probiotics, which aim to address a high prevalence of obesity and cardiovascular problems. Growth opportunities exist for nutraceuticals that aid with weight loss or hair loss, and there is market interest in nutricosmetics.

At Vitafoods Asia, a main regional event that helps shape the food industry for optimal health through science and innovation, key Korean nutraceutical trends are addressed. Some 55 Korean vendors showcase their products to buyers from across the Asia Pacific, and Korean buyers can discover the highest quality functional ingredients, contract manufacturers and finished products, sourced from across the globe.

Herbal medicines

Koreans prefer herbal medicines because they lack toxicity and are affordable. Particularly prevalent is the traditional Korean ginseng, which is distributed in liquid, powder and capsule form and is said to offer energy, a normalizing effect, and reduce stress, in addition to boosting overall health. Ginseng may also lower cholesterol and treat diabetes and depression, give mental clarity and help memory retention. Exhibitors at Vitafoods Asia for ginseng products include BTC Corporation, Capsula Gmbh, Glucan Corporation, Lustrel Laboratoires. The exhibition includes a multitude of exhibitors that showcase Functional Beverages as well as natural and herbal medicines.

Obesity, Cardiovascular Issues

Obesity is on the rise particularly among Korean males, in fact, a third of Korean adults are overweight or obese. This is impacting the high prevalence of cardiovascular disease, diabesity, and high blood pressure in Koreans and is driving growth of the lipid nutrition market. Vitafoods Asia has an Omega-3 Resource Centre where visitors can learn about the latest innovations and product development initiatives with Omega-3's and consult with experts from the field.

Diabetes

The Korean Diabetes Association has estimated that as many as 5 million Koreans have diabetes, and at least 3 million sought medical treatment in 2018. Disturbingly, the number of young diabetics is growing at double the rate of those over 40 years old and has been attributed to the rise of obesity. Some of the exhibitors at Vitafoods Asia that showcase their product development initiatives for the use in addressing and preventing diabetes include Kunpoong Bio Co Ltd, Nutribio, and Synergia Life Sciences Pvt. Ltd.

Immunity

Young Koreans are consuming vitamins and minerals segment to help boost their immunity. Popular vitamins consumed include A, C and D. Kappa Bioscience is a key exhibitor for vitamins at Vitafoods Asia. Maker of K2VITAL® vitamin K2 MK-7, Kappa Bioscience will introduce the 4th edition K2 Formulation LookBook to Asian markets at Vitafoods Asia 2019 in Singapore. The LookBook has also been named a finalist in the NutraIngredients Awards-Asia Innovation category.

Healthy Ageing

With one the world's fastest ageing population, South Korea is having to get creative through product innovation to develop products that aid healthy ageing. According to the Mintel APAC Food and Drink Landscape 2019 report, South Korean dairy and beverage producer Maeil Dairies Co. has opened a sarcopenia research and development centre

to invest more in products that meet the dietary needs of seniors. For example, Mecol’s Black Rice Sparkling Drink, is made of black rice which is said to be rich in anthocyanin and is a great source of antioxidants. This grain-based sparkling drink is made from 10% roasted black brown rice and contains 70% of the daily adult requirement of vitamin C.

South Korean exhibitors at Vitafoods Asia include Alpha BNH, BIFIDO Co Ltd, Bio-synectics, Inc, Cosmax Bio, Han Wha Pharma Co., Ltd., and Huons Natural Co.

Vitafoods Asia is the key event in Asia to connect buyers to suppliers of key ingredients, contract manufacturers, finished goods, service providers, and researchers. Attendees will gain insights into regulatory matters, marketing, product formulation and packaging design.

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