KGC Insamgongsa Unveils 'Hong Sam World Map'... Asia Prefers Convenient Consumption, USA Prefers Original Taste

[Asia Economy Reporter Seungjin Lee] KGC Ginseng Corporation’s red ginseng is establishing itself as a representative popular gift in Asian regions celebrating the New Year holidays, with demand increasing across overseas markets.

On the 5th, KGC Ginseng Corporation revealed the ‘Red Ginseng World Map,’ which selects bestsellers by country based on overseas sales of Jeong Kwan Jang red ginseng. The stick-type red ginseng product ‘Everytime,’ which is convenient to carry and consume, ranked first in sales in six Asian regions including Japan, Taiwan, Hong Kong, Malaysia, Singapore, and Vietnam.

China Ranks First in Sales by Country

The largest share of the overseas red ginseng market is China. Jeong Kwan Jang’s Root Sam sold in China is priced about three times higher than Chinese products, yet demand for personal health and gifts continues to steadily increase.

Especially in China, where the Lunar New Year (Chunjeol) culture is prevalent, sales in January and February exceed 20% of annual sales. The top-selling product, Root Sam, also accounted for more than 20% of sales during the Lunar New Year period.

The regions next most in demand for red ginseng after China are Taiwan and Hong Kong. While red ginseng was previously perceived as a product for the elderly, KGC Ginseng Corporation analyzed that the image of red ginseng has changed with the launch of Everytime.

In Taiwan, Everytime recorded a 38% market share, ranking first in sales and playing a role in shifting the market from being root Sam-centered to product-centered. Sales in Taiwan surged 259% in 2020 compared to 2017, with Lunar New Year sales accounting for 19-20% of annual sales, showing a high proportion.

Japanese consumers tend to prioritize product quality and purchase small quantities for trial; only after determining suitability do they make regular purchases.

Hong Sam Jeong Everytime

Growth in Singapore, Vietnam, and Others Fueled by Korean Wave

Among countries exporting red ginseng, the fastest-growing markets recently are Southeast Asian regions such as Singapore, Vietnam, and Malaysia. Thanks to the Korean Wave, various K-content is gaining popularity, and Korean red ginseng products are also well received by locals.

In Singapore and Malaysia, the Chinese ethnic group is the main consumer base and generally has a good understanding of ginseng. In Singapore, Everytime also showed the highest sales proportion.

In Malaysia, the Chinese ethnic group is also the main consumer base, with the largest sales occurring during the biggest holiday, Lunar New Year. The top-selling product locally was Everytime. The popularity of Korean dramas and frequent appearances of Everytime as product placement (PPL) in these shows increased interest.

Vietnam has a high preference for Korean ginseng and considers it a luxurious health gift. Everytime gained popularity as a health gift during Tet (Lunar New Year, January 1st) and ranked first among ginseng products in the Vietnamese online market.

United States Prefers Large Volume... Red Ginseng Extract Tops Sales

The United States is the second-largest ginseng export market after Asian countries. In September last year, Jeong Kwan Jang opened an experiential store called the ‘Ginseng Museum Cafe’ in Manhattan, New York, to explain the history and benefits of red ginseng to those unfamiliar with it and provide a hands-on experience.

The most popular product in the local market is red ginseng concentrate, Hong Sam Jeong. Although about 30 stores operate locally, the number of stores is not large compared to the vast territory, so consumers prefer products that can be purchased once and consumed over a long period.

In Australia and Russia, pouch-type drinkable Hong Sam Won is popular. In Russia, it is known to have a taste similar to the traditional beverage kvass and is considered healthy, with high demand among women over 40.

In the Middle East, Hong Sam Jeong is popular, and red ginseng is known to be good for male stamina, making it preferred by middle-aged men.

KGC Ginseng Corporation analyzed that since COVID-19, online shopping has become active, significantly increasing red ginseng sales centered on e-commerce. Leveraging this, overseas export performance also increased, with export results up 20% through the third quarter of 2021 compared to 2019.

Kim Naesu, Executive Director of KGC Ginseng Corporation’s Global CIC, stated, “As global interest in immunity increased last year and we are achieving good results overseas, we will continue to do our best with the mission of representing Korea to promote our red ginseng worldwide.”

This content was produced with the assistance of AI translation services.