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Boston, MA -- (ReleaseWire) -- 05/29/2014 --Herbal/traditional products recorded 4% value growth in 2013. Both herbal/traditional remedies and dietary supplements showed positive growth rate thanks to the good performance of Madecasol including herbal ingredients under topical germicidals/antiseptics. Herbal/traditional cough, cold and allergy (hay fever) remedies increased by 4% as liquid combination cough, cold and allergy remedies continued to perform well. Herbal/traditional digestive remedies, however, recorded marginal decline in current value terms due to the stagnation of liquid digestive enzymes including herbal ingredients.

Competitive Landscape

Korea Ginseng Corp maintained the leading position with a 34% value share in 2013. The company gained marginal value share with its Cheong-Kwan-Jang brand. Korea Ginseng Corp is developing diverse targeting strategies based on the luxury brand's reputation to compete with newly-introduced rivals in the category.

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Industry Prospects

Herbal/traditional products are expected to increase by a CAGR of 1% in constant value terms over the forecast period. Herbal/traditional calming and sleeping products will grow by 1% CAGR, as it is preferred to OTC products, thanks to fewer side effects. For the same reason, herbal/traditional dietary supplements, cough, cold and allergy (hay fever) will also enjoy positive growth. Herbal/traditional digestive remedies will increase marginally, with channel expansion to grocery retailers in 2011. Meanwhile, herbal/traditional smoking cessation aids will decline rapidly over the forecast period as consumers shift to electronic cigarettes.

Overview
Discover the latest market trends and uncover sources of future market growth for the Herbal/Traditional Products industry in South Korea with research from Euromonitor's team of in-country analysts.
Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.
If you're in the Herbal/Traditional Products industry in South Korea, our research will save you time and money while empowering you to make informed, profitable decisions.
The Herbal/Traditional Products in South Korea market research report includes:

- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
- Historic volumes and values, company and brand market shares
- Five year forecasts of market trends and market growth  
- Robust and transparent market research methodology, conducted in-country

Our market research reports answer questions such as:

- What is the market size of Herbal/Traditional Products in South Korea?
- What are the major brands in South Korea?

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