Euromonitor Survey... Retail Market Leader
Market Share 3.9%
KGC Ginseng Corporation's comprehensive health supplement brand, CheongKwanJang, ranked first in the global retail market for 'Herbal/Traditional Dietary Supplements' according to Euromonitor International, a global market research firm.
According to Euromonitor's 2023 report on the 16th, the global retail market size for herbal health supplements last year was $29.88 billion (approximately 41.333 trillion KRW), with CheongKwanJang recording sales of $1.16 billion (approximately 1.6046 trillion KRW), capturing about 3.9% market share and ranking first worldwide.
An American consumer is looking at CheongKwanJang products at a local distribution channel. [Photo by KGC Ginseng Corporation]
The herbal health supplement category survey targeted supplements made from natural or traditional ingredients. Representative examples include health supplements processed and manufactured from various medicinal herbs such as ginseng, aloe, ginkgo, cranberry, and others.
CheongKwanJang leads the global market not only domestically but also overseas with its flagship products such as HongSamJeong Everytime, HongSamJeong, HwalGiRyuk, and HongSamWon, as well as brands like CheonNok and GoodBase that utilize natural ingredients like deer antler and pomegranate.
CheongKwanJang also ranked first for the tenth consecutive year last year with a 46.6% market share in the global ginseng retail market compiled by Euromonitor, and previously secured first place in the broader herbal health supplement category.
A representative from KGC Ginseng Corporation stated, "We will continue to advance as a global comprehensive health company loved by people worldwide through business development from a global one-market perspective."
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