"Post-Corona, Health is Wealth"... Seize the Dumbbell Economy

[Asia Economy Reporter Lee Seon-ae] #Office worker Kang Su-young has become increasingly interested in health management due to the impact of the novel coronavirus disease (COVID-19). To boost immunity, she takes protein and probiotics and consistently does home training exercises. She does not hesitate to spend on protein intake and home training equipment. Kang said, “Because of working from home, my weight has increased significantly, so I am consuming a lot of protein-based meal replacements to manage my figure. I have also purchased many home training products for exercising, and I don’t consider this spending a waste for my health.”

The ‘Dumbbell Economy,’ characterized by increased spending on health and fitness management, is booming due to the prolonged COVID-19 pandemic. As the work-life balance (WLB) culture encourages more consumers to engage in self-care activities like exercise, the Dumbbell Economy, which had been expanding, is now growing even more with rising interest in health.

◆ Dumbbell Economy Leading the Active Nutrition Market = According to industry sources on the 8th, as the Dumbbell Economy expands, the ‘Active Nutrition Market,’ which combines protein intake with exercise, is gaining attention. Instead of products consumed only by professional athletes, products that are easy and tasty to consume daily to maintain youth and health are being released one after another.

Nu Skin Korea’s health functional food brand Pharmanex recently launched ‘TRGO’ to target the active nutrition market. TRGO is composed of a set including ‘TRGO Pre Workout+,’ which helps with energy production, and ‘TRGO Post Workout+,’ which aids efficient protein intake after exercise. ‘TRGO Pre Workout+’ contains vitamin D and pantothenic acid to support energetic activities. ‘TRGO Post Workout+’ combines whey protein and casein protein, providing 20g of protein per serving (52g vanilla flavor, 53g chocolate flavor), allowing simultaneous intake of two high-quality proteins. It also contains glucosamine and vitamin D to help joint and bone health, which can be a concern during high-intensity workouts.

Binggrae introduced ‘Yoplait Protein,’ a high-protein yogurt containing more than 8% protein. Yoplait Protein is available in two drinkable types (plain and strawberry banana) and two spoonable types (plain and blueberry). The drinkable Yoplait Protein Plain contains 18g of protein per bottle, fulfilling 45% of the average daily protein requirement of 40g for women in their 30s, as suggested by the Korean Nutrition Society. The spoonable Yoplait Protein also contains 10g of protein per cup, about 2.6 times more than regular spoonable yogurt.

◆ Growth of the Athleisure Market = Demand for leggings and functional clothing is also increasing. According to Shinsegae Department Store, general fashion sales from June 1 to 25 decreased by 7.8% compared to the same period last year, while athleisure (Athletic + Leisure, clothing suitable for exercise yet comfortable for everyday wear) sales grew by 23.4%. The Korea Fashion Industry Research Institute forecasts that the domestic athleisure market will grow from 1.5 trillion won in 2016 to 3 trillion won this year.

Accordingly, companies are actively moving to capture the Dumbbell Economy market. Jeximix released biker shorts, short pants worn for cycling and popular among overseas celebrities as daily wear, in a 3.5-part cropped leggings style. The ‘Biker Shorts 3.5-Part Cropped Leggings’ have a short 3.5-part length reaching the thighs, making it easy to achieve the biker shorts fit regardless of height. Made with cotton-like material that is highly elastic and soft to the touch, it enhances mobility and features four-way stretch that stretches up, down, left, and right.

The North Face launched the ‘City Nuptse Short Sleeve Round Tee,’ which can be widely used not only for various summer sports activities but also in daily life. The City Nuptse Short Sleeve Round Tee features a trendy oversized fit and an adjustable string inside the hem for styling versatility. It is made of highly elastic cooling material with added water-repellent functionality.