The market size reached 400 billion won, and the Korean children's nutrition market grew against the trend

Last year, Korea's population trend showed the "dead cross" phenomenon for the first time (the phenomenon that the number of deaths naturally decreased more than the number of births). Despite this , the Korean children's health functional food market continued to grow steadily .

According to industry estimates, the size of the domestic market for functional foods for children and adolescents' health was 400 billion won last year , showing a trend of continued growth .

According to analysis, South Korea's low birth rate has given rise to the "Tenpocket phenomenon" of focusing on one child, that is, not only parents, but also grandparents and relatives of both families, and even parents' friends spend money on the same child. Coupled with the epidemic, parents' concerns about their children's immunity have become a driving force for the growth of the children's health functional food market.

In fact, last year the Korea Health Functional Food Association conducted a multiple-choice questionnaire survey on 1,947 adult men and women with children. The results showed that the children's health issue that respondents were most concerned about was "improving immunity" (27.9%).

In addition, regarding the method of improving children's immunity, the largest number of people answered "letting children take health functional foods", accounting for 39.4%. In other words, as the focus on improving immunity has driven the scale of the domestic health functional food market, it has also had an impact on the expansion of the children's market.

This is indeed the case! The sales rate of children's health and nutrition products surged before and after the spread of the epidemic. According to data from eBay Korea's e-commerce platform , the sales of various children's vitamins on the Gmarket platform surged by 695% in May last year compared with the same period last year . In particular , the sales of children's propolis, which helps improve immunity, increased by 74%, and the sales of children's lactic acid bacteria increased by 28%.

Auction.Kr's children's vitamin sales also increased by 30% compared with the same period last year, and children's propolis and children's lactobacillus also increased by 126% and 7% respectively.

It’s not just eBay Korea . SSG.com’s sales of health functional foods increased by 25.3% from the previous year. Among them, nutritional supplements had the highest increase of 34% , followed by propolis ( 30.3%), healthy juice (17%) and red ginseng (15%). An official from SSG.com said : “This reflects the increased interest in health and immunity due to the epidemic . ”

Although South Korea's fertility rate in 2020 is 0.82, a record low, at the same time, the "VIB (Very Important Baby) tribe" and "Tenpocket" phenomenon are expanding. In the future, parents will pay more attention to their children's health, and the related market is expected to grow further. Relevant sellers can pay attention to it.

South Korea

Nutrition and Health

child