CheongKwanJang, the representative red ginseng brand of KGC (Korea Ginseng Corp.) ranks first in the global ginseng retail market sales record compiled by Euromonitor International, a global market research company. The brand has kept this title for 10 consecutive years.
According to Euromonitor's 2022 report, the global ginseng retail market last year was approximately USD 2.47 billion (KRW 3.139 trillion). Among them, CheongKwanJang recorded a market share of 41.9% with sales of about USD 1.038 billion (KRW 1.319 trillion).
CheongKwanJang, which ranked first in 2013 with sales of USD 731 million, achieved a sales growth rate of about 42% higher than 10 years ago according to this survey, and takes an honor in ranking No. 1 in market share in the global ginseng retail market for 10 consecutive years.
Overseas sales are gradually expanding from Mainland China, Taiwan, and Southeast Asia to Europe and the Middle East. In addition, KGC analysed that the 'global localisation strategy', such as rebuilding a local business model with marketing activities targeting local consumers and strengthening the competitiveness of the global online business by establishing a platform suitable for each country's digital market environment, led to improved overseas export performance.
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