Instead of Chicken Coupons, Nutritional Supplements as Gifts... Growing Dietary Supplement Market Among Health-Investing Young Adults

Last Year, Health Functional Food Market Surpassed 5 Trillion Won
Increased Interest in Health Supplements Among Young People... Nutrient Supplement Subscription Services Also Popular

Photo by Pixabay.

[Asia Economy Reporter Heo Midam] # Seo Jimin (25, pseudonym), a third-year office worker, has been taking various nutritional supplements for a year. She takes more than five types of supplements daily, including probiotics, lutein, vitamin C, and collagen sticks. Seo said, "When I take supplements, I sometimes wonder if they really work, but when I don't take them, I definitely feel more tired," adding, "Currently, I take various supplements for stamina management, immunity, and skin care."

As the desire for a healthy life grows, the health functional food (HFF) market is expanding every year. In the past, HFF was considered the exclusive domain of middle-aged and older adults, but the COVID-19 pandemic has propelled the 20s and 30s age groups to become new major consumers in the HFF market. Accordingly, the distribution industry is also focusing on young consumers and actively launching HFF products.

Recently, more people are trying to supplement their lacking nutrients through HFF. According to the Korea Health Supplements Association, the domestic HFF market size grew from 4.1728 trillion KRW in 2017 to 5.0454 trillion KRW last year. The average household purchase amount for HFF was about 313,000 KRW.

The generation emerging as the main consumers in the HFF market is undoubtedly the MZ generation (Millennials + Generation Z). They are characterized by not sparing expenses on themselves and having a high interest in a healthy lifestyle. Especially after experiencing the COVID-19 pandemic, they have started paying more attention to HFF as an easy way to maintain health.

Consequently, nutritional supplement subscription services are gaining popularity, especially among young people. When subscribing, companies analyze each user's health status and recommend customized supplements. Unlike traditional supplements, which are often forgotten or skipped after purchase, these services help build a habit of taking supplements regularly, making them popular.

[Image source=Yonhap News]

Kim Eunhye (31, pseudonym), an office worker who has been using a supplement subscription service since May, said, "It's convenient because a simple test tells me what supplements I need, and the supplements are individually packed in one-pack servings, making them easy to take." She added, "Also, with regular subscriptions, there are discount benefits, so I can take all the necessary supplements at a relatively affordable price."

In some cases, vitamins or red ginseng supplements are given as gifts. In the past, young people mainly purchased supplements to gift middle-aged or elderly parents, but recently, there have been cases of giving them to friends or partners for their health. According to Kakao Commerce, the transaction amount in the health functional food category on KakaoTalk Gift increased by 51% compared to the previous year. Among them, the transaction growth rates for people in their 20s and 30s were 56% and 66%, respectively, showing rapid growth.

The HFF market is expected to grow even larger in the future. As society enters an aging era, demand for maintaining health for preventive purposes rather than curing diseases has increased. The Korea Health Supplements Association predicts that the domestic HFF market size will grow to 25 trillion KRW by 2030.

Meanwhile, the distribution industry is expanding the scale of the HFF business. CJ CheilJedang is strengthening its own HFF brand lineup, including Hanppuri, BYO Probiotics, and Return Up. Dongwon F&B launched the HFF brand 'Olinic' in February last year, and Binggrae is continuously expanding the product lineup of its health brand 'tft.'

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