In 2022, total sales of health functional foods in Korea reached KRW 4.1695 trillion, an increase of 3.4% over the previous year. Domestic demand accounted for KRW 3,891.4 billion, while exports contributed KRW 278.1 billion. Over the past five years, there has been a steady upward trend in total sales, domestic sales and exports. The number of manufacturers also increased by 5.0%, reaching 566 locations. The average annual growth rate from 2014 to 2022 is 2.1% for professional manufacturers and 6.7% for venture manufacturers, resulting in an overall growth rate of 2.6%. The number of professional manufacturers increased from 439 in 2018 to 489 in 2022, while venture manufacturers increased from 61 in 2018 to 77 in 2021 and 2022.
The top five products in terms of sales in 2022 accounted for 78.6% of the total market. Red ginseng secured the top spot, accounting for 23.6% of total sales with KRW 984.8 billion. Probiotics took second place with sales of KRW 697.7 billion, followed by vitamins and minerals at KRW 460.6 billion, oil containing EPA and DHA at KRW 281.9 billion, and protein at KRW 170.1 billion. The share of these top five products' sales has declined moderately to 81.5% in 2021, 82.8% in 2019, 80.6% in 2020, 80.2% in 2021, and 78.6% in 2022. In terms of exports, probiotics accounted for KRW 63.8 billion, followed by red ginseng at KRW 55.1 billion, vitamins and minerals at KRW 36.6 billion, oil containing EPA and DHA at KRW 20.8 billion, and milk thistle extract at KRW 9.7 billion. Ginseng ranked sixth with KRW 6.5 billion.
Sales categorized by function showed that products aimed at improving blood circulation, memory, antioxidant properties, immune function and reducing fatigue accounted for 59.6% of the total. The highest sales were in the category of improving blood circulation, which accounted for 13.1% and was valued at KRW 1.3124 trillion. Memory improvement came in second with 12.9% or KRW 1.2811 trillion, followed by immune function improvement with 11.7% or KRW 1.16 trillion. Fourth place is antioxidant function at KRW 1.143 trillion and 11.1%. Fifth place is fatigue improvement at KRW 1.708 trillion or 10.8%.

In terms of sales by type, red ginseng ranked first with 11,925 tons worth USD 929.7 billion and exports of 519 tons worth USD 42.67 million. Probiotics topped the export category, with domestic sales second only to red ginseng at 57,863 tons valued at KRW 634 billion. Vitamins and minerals accounted for 12,397 tons worth KRW 424 billion, with exports reaching 852 tons worth USD 28.35 million. Oil containing EPA and DHA recorded sales of 2,872 tons, generating revenue of KRW 261 billion, and exports of 436 tons worth USD 16.13 million. Milk thistle extract was 836 tons worth KRW 52.2 billion, with exports of 91 tons worth USD 750,000.

In terms of sales, the leader is Korea Ginseng Corporation with KRW 770.8 billion. HY Co., Ltd. follows closely in second place with KRW 447 billion, Kolmar BNH Co., Ltd. is third with KRW 309.3 billion, and Novarex Co., Ltd. is fourth with KRW 267.6 billion. Chong Kun Dang Health Co., Ltd. ranks 5th with KRW 257.8 billion, followed by Seoheung Co., Ltd. (6th, KRW 202.9 billion), Ildong Foodis Co., Ltd. (7th, KRW 133.3 billion), Cosmax Bio Co., Ltd. (8th, KRW 123.5 billion), Cosmax NBT Co., Ltd. (9th, KRW 112.6 billion) and RP Bio Co., Ltd. (10th, KRW 75.9 billion). The average revenue per company decreased slightly by 1.3% year-on-year to KRW 7.4 billion. In 2018, the 500 companies achieved an average of KRW 5 billion, growing to KRW 5.8 billion in 2019, KRW 6.4 billion in 2020, and KRW 7.5 billion in 2021, reflecting a compound annual growth rate of 2.5% from 2018 to 2021. The growth rate of health functional foods over the past five years is 13.4%, and small companies with annual sales of less than KRW 1 billion account for 65.9% of the market over the same period.