- The Korean health functional food market surpassed 5 trillion won for the first time in history last year, a 20% increase compared to 5 years ago
- Red Ginseng, with a 30% share in the Korean health functional food market, remains the undisputed No.1
SEOUL, South Korea, Oct. 24, 2022 /PRNewswire/ -- According to the Korea Health Supplements Association, Korea's health functional food market surpassed 5 trillion won for the first time last year. This is a 20% increase compared to five years ago. The product that occupies the top market share is red ginseng. Red ginseng, made by processing ginseng, is a favorite product, regardless of gender and age, with a market share of 30%.
Korea's leading red ginseng brand with a tradition of 123 years is 'CheongKwanJang' created by KGC (Korea Ginseng Corporation), accounting for about 70% of the total red ginseng market. In order to produce the highest quality red ginseng, 'CheongKwanJang' conducts 430 safety tests for a total period of 8 years before products are shipped, including 2 years of soil management and 6 years of cultivation, to produce premium red ginseng that customers can consume with confidence.
'Ginseng' is a representative regional specialty of Korea. In particular, ginseng grown in Korea is called 'Korean Ginseng' and has long been traded as a precious medicinal ingredient in various parts of the world. Although ginseng grows in many parts of the world, Korean ginseng differs greatly in terms of line, shape and composition. Ginseng from Korea is regarded as the best ginseng in the world based on quality and efficacy.
The original ginseng extracted from the ground is called fresh ginseng and it is difficult to store for long periods of time because it usually contains about 75% moisture. In the past, Korean ancestors invented the method of steaming and drying fresh ginseng with steam for long-term storage and distribution, and the processed product was called 'red ginseng.'
In Korea, red ginseng is produced in various forms of products such as a liquid, capsule, powder and root ginseng, and is also sold as food for enjoyment like candy, jelly and tea. Office workers, students and athletes take red ginseng to recover from fatigue, while children and the elderly seek red ginseng to boost their immunity.
Source: KGC (Korea Ginseng Corp.) Related Stocks: Korea:033780 OTC:KTCIY