Jung Kwan Jang, a brand under Korea Ginseng Corporation (KGC), has solidified its position as a global leader in the health supplement industry by ranking first in the “Herbal Dietary Supplements” category, according to Euromonitor International's 2023 report. This achievement follows its impressive 46.6% market share in the 'Global Ginseng Retail Market' last year, marking its 10th consecutive year at the top.

 

The global retail market for 'Herbal Dietary Supplements' was valued at $29.88 billion last year, with Jung Kwan Jang recording sales of $1.16 billion, securing a market share of approximately 3.9%. The 'Herbal Dietary Supplements' category encompasses health supplements made from natural or traditional materials, including ginseng, aloe, ginkgo, cranberry, and various processed herbs.

 

"It has proven its status as a global comprehensive health company by ranking first in the “Herbal Dietary Supplements” category, following its 46.6% market share in the “Global Ginseng Retail Market” last year," stated a representative from Jung Kwan Jang.

 

Korea Ginseng Corporation is actively targeting overseas markets to become a global top-tier comprehensive health company. The company is developing customized products aimed at local consumers from a global one-market perspective and expanding its global online and offline distribution networks through collaborations with prominent local companies such as Costco and Amazon. Recently, it became the only Korean health functional food company to complete an entry contract with the premium market chain 'Sprouts Farmers Market' in the United States.

 

Furthermore, KGC is investing in research and development to discover new functional ingredients and health materials, such as ginseng oil and Eucommia ulmoides extract complex. This focus on innovation is expected to drive future growth and maintain the company's competitive edge in the global market.

 

As the demand for health and wellness products continues to rise worldwide, Jung Kwan Jang's strategic initiatives and robust product offerings position it well to capitalize on this trend. The company's commitment to quality and innovation ensures that it remains at the forefront of the herbal dietary supplements market, meeting the evolving needs of consumers globally.