Maeil Dairies Boldly Expands 'Selex'... All-In on New Growth Engine 'Health Supplements'

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[Asia Economy Reporter Lee Seon-ae] Maeil Dairies is set to actively foster its health functional food business, leveraging the success of 'Selex,' which was introduced as part of its business diversification efforts. The company is seeking new growth engines by entering markets ranging from inner beauty to probiotics.

According to industry sources on the 10th, Maeil Dairies is currently conducting research and development to enter the probiotics market following new products related to inner beauty. The new product is expected to be launched as early as the first half of next year, either as a new Selex product or under a newly launched brand, with various options under consideration. A Maeil Dairies official explained, "We are conducting research and development on various new products and will cultivate health functional foods as a new growth engine business from a mid- to long-term perspective."

Maeil Dairies entered the adult nutrition food business in 2018 by launching Selex through its lifecycle nutrition specialist brand 'Maeil Health Nutrition.' This market was chosen as part of business diversification to respond to the shrinking powdered milk market, which was its existing core product, and the decline in milk consumption. The company sees the future of the food industry in the so-called 'dumbbell economy,' which refers to the increasing number of consumers focusing on health.

Selex created a sensational craze and firmly established itself in the market. Since its launch in November 2018, it has achieved sales of about 40 billion KRW within just over a year, earning a reputation for pioneering the domestic adult protein market. To date, cumulative sales have surpassed 50 billion KRW, and in August, it recorded the highest production volume of protein health functional foods in 2019 as announced by the Ministry of Food and Drug Safety, maintaining its position as the market leader. The number of products has steadily increased to 15 with continuous new product launches. This year, the sales target is 50 billion KRW, double last year's sales of 25 billion KRW.

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Recently, Maeil Dairies took its first step into the inner beauty market by launching 'Selex Milk Ceramide.' Ceramide is a component found in only 0.0003% of milk and plays a role in maintaining moisture on the skin surface. Overseas, it is a trend to consume collagen and ceramide together to keep skin texture and structure firm. Maeil Dairies targeted the ceramide market, noting that the domestic inner beauty market has been focused on collagen.

Selex Milk Ceramide is designed to allow simultaneous intake of milk ceramide (600 mg) and low molecular fish collagen (1000 mg), considering absorption rates, in line with global trends. Additionally, it includes vitamin C (100 mg), the recommended daily intake beneficial when taken with collagen, as well as hyaluronic acid and elastin. Earlier, the company also introduced Selex Slim25, a diet product. Slim25 was first launched on Tmall Global in March targeting young Chinese consumers. Following numerous requests from domestic consumers to release the product locally, sales have commenced in Korea as well.

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