South Korea: Leading the global health functional food market with domestic ingredients

The domestic health functional food market is growing at an average annual rate of about 9% in two years after surpassing the 5 trillion won market in early 2020, and is currently forming a 6 trillion won market. The global health functional food market has also grown at an average annual rate of about 6.9% over the past three years, reaching 230 trillion won as of 2022. With the high potential of the functional food market, it continues to grow rapidly compared to other food industries and is settling down as a new driving force for the future food industry. Breaking through the crisis of imported raw materials with functional agri-food is not as bright as the functional food industry. As the health functional food market grows, the proportion of imported raw materials and products exceeds 30%. Amidst such a crisis, the way to promote continuous mutual growth of the functional food industry and agriculture is to discover functional agri-food resources that can be produced ...