South Korea Herbal Medicine Market Size, Share, and COVID-19 Impact Analysis, By Intervention (Ayurveda and Traditional Chinese Medicine), By Product Form (Tablet/Capsules and Powder), By Source (Roots and Leaves), and South Korea Herbal Medicine Market, Industry Trend, Forecasts to 2035

South Korea Herbal Medicine Market Insights Forecasts to 2035

• The South Korea Herbal Medicine Market Size Was Estimated at USD 2374.6 Million in 2024
• The Market Size is Expected to Grow at a CAGR of around 27.68% from 2025 to 2035
• The South Korea Herbal Medicine Market Size is Expected to Reach USD 34901.0 Million by 2035

According to a research report published by Spherical Insights & Consulting, The South Korea Herbal Medicine Market Size is anticipated to reach USD 34901.0 Million by 2035, growing at a CAGR of 27.68% from 2025 to 2035. Growing consumer interest in natural cures, growing health consciousness, and technological developments in the production and extraction of herbal medications.

Market Overview

The manufacturing, marketing, and distribution of goods made from plants (or plant parts) that are used medicinally are all included in the herbal medicine market. These goods, which are sometimes called natural health products or phytomedicines, can include herbal teas, vitamins, and treatments.  The market encompasses the full value chain, from the procurement and processing of raw materials to the manufacturing of completed goods and their sale at retail.  Less expensive healthcare options, herbal medicines are a more accessible option because they are typically less expensive than traditional drugs. Costs can be further decreased by purchasing locally grown or easily farmed herbs. With businesses like Amazon creating herbal product portfolios, online platforms are becoming increasingly important in the distribution of herbal items. It is essential to make research and development investments to confirm the medicinal potential of herbal remedies and create novel formulations. Incorporating traditional medicine techniques into mainstream healthcare institutions is an ongoing endeavor. Innovation and product development in herbal medicine depend heavily on government financing for research and development.

Report Coverage

This research report categorizes the market for South Korea herbal medicine market based on various segments and regions forecasts revenue growth, and analyses trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the South Korea herbal medicine market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment South Korea herbal medicine market.

Driving Factors

Increasing consumer preference for natural and organic products, due to concerns over the side effects of synthetic drugs, is leading to a shift towards herbal remedies. The rising prevalence of chronic diseases such as diabetes and cardiovascular conditions has further propelled the demand for herbal medicines, which are perceived as safer alternatives. Additionally, supportive government initiatives and favorable regulatory frameworks are encouraging the use and development of herbal products.

Restraining Factors

A significant issue is the lack of standardization and quality control, leading to variations in potency and efficacy among products. Many herbal medicines are not subjected to rigorous testing, resulting in inconsistencies and potential safety concerns.

Market Segmentation

The South Korea herbal medicine market share is classified into intervention, product form, and source.

• The ayurveda segment held a significant share in 2024 and is expected to grow at a significant CAGR during the forecast period.

The South Korea herbal medicine market is segmented by intervention into ayurveda and traditional chinese medicine. Among these, the ayurveda segment held a significant share in 2024 and is expected to grow at a substantial CAGR during the forecast period. An increased consumer desire for natural and comprehensive healthcare options, as well as more knowledge of and adherence to Ayurveda. Technology is being used by the market to boost productivity, improve customer satisfaction, and improve product quality.

• The tablet/capsules segment held a significant share in 2024 and is expected to grow at a significant CAGR during the forecast period.

The South Korea herbal medicine market is segmented by product form into tablet/capsules and powder. Among these, the tablet/capsules segment held a significant share in 2024 and is expected to grow at a significant CAGR during the forecast period. The demand for tablets and capsules was mostly driven by customers' growing desire for convenient dosage forms.  These forms accommodate the hectic lifestyles of contemporary customers by providing mobility, accurate dosing, and convenience of ingestion.  Furthermore, the effectiveness, stability, and bioavailability of herbal constituents in tablet and capsule formulations have been improved by developments in formulation technology, which has increased their acceptability among health-conscious consumers.

• The roots segment dominated a share in 2024 and is expected to grow at a significant CAGR during the forecast period.

The South Korea herbal medicine market is segmented by source into roots and leaves. Among these, the roots segment dominated a share in 2024 and is expected to grow at a significant CAGR during the forecast period. Their historical application in a variety of formulations and herbal medicines. Additionally, the growing body of scientific information supporting the pharmacological advantages of various root extracts has increased their attractiveness to contemporary customers looking for natural therapies supported by evidence.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the South Korea herbal medicine market, along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborate analysis focusing on the companies' current news and developments, including product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Korea Ginseng Corporation (KGC)
• Korea Yakult
• Hanmi Pharmaceutical
• Kyungpoong Pharmacy
• Yuhan Corporation
• Jeil Pharmaceutical
• Hankook Korus
• LG Life Sciences
• Korean Ginseng & Tobacco
• DongA ST
• Daedong Co.
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting and Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Market Segment

This study forecasts revenue at South Korea, regional, and country levels from 2020 to 2035. Spherical Insights has segmented the South Korea herbal medicine market based on the below-mentioned segments:

South Korea Herbal Medicine Market, By Intervention

• Ayurveda
• Traditional Chinese Medicine

South Korea Herbal Medicine Market, By Product Form

• Tablet/Capsules
• Powder

South Korea Herbal Medicine Market, By Source

• Roots
• Leaves