[건식투머로우] 함께 만들어가는 K-건강기능식품의 국제 경쟁력: 벤트크릭연구소 백현호 박사

Summary

The speaker from a nonprofit organization in North Carolina discusses their role in supporting businesses in the natural products sector, helping local companies expand globally and international businesses enter the U.S. market. They emphasize the importance of the U.S. health supplement market, especially for women’s health and functional mushrooms. Key insights include the need for affordable, effective products and strong clinical research to succeed. The speaker advises companies to have long-term strategies, use cost-effective promotion methods, and highlights the opportunities for Korean companies in the U.S. market, stressing collaboration and persistence.

Takeaways

• 🎶 BCI is a non-profit organization based in North Carolina, known for its work with natural products and collaboration with the community.
• 🌱 The speaker helps local businesses in North Carolina expand into U.S. and international markets, and also facilitates foreign companies entering the region.
• 🔬 The speaker has a background in developing pharmaceutical and food materials, starting with Samsung Precision Chemicals in 1990 and moving to health food and functional ingredients in 2007.
• 🌍 The U.S. is the largest market for health functional foods, holding a significant portion of the global market due to its healthcare system's limitations.
• 👩‍⚕️ Women's menopause products present a large opportunity in the U.S. market, with 2 million women entering menopause annually, providing growth potential for health supplement companies.
• 🍄 Mushrooms, particularly for their functional benefits such as immunity and cognitive support, are trending in the U.S. market, with products like mushroom coffee becoming popular.
• 💡 Companies should focus on creating affordable, effective products that consumers can take in small daily amounts to remain competitive in the market.
• 📊 Clinical studies and published research are crucial for product credibility in the U.S., yet many companies overlook this aspect.
• 🕰 Entering the U.S. market requires a long-term strategy, with a minimum of five years of preparation, especially for small and mid-sized businesses.
• 💻 Due to COVID-19, cost-effective strategies like online promotions have become more viable for market entry, and there is an intent to establish a BCI branch in Korea to assist local companies in the U.S. market.

Q & A

What is BCI, and where is it located?

BCI is a non-profit organization based in North Carolina, USA, that works closely with the local community to explore how natural resources can be developed and utilized.

What are the main responsibilities of the speaker at BCI?

The speaker's role at BCI includes helping local businesses expand within the US and internationally, as well as assisting foreign companies, particularly from Korea, Germany, and Brazil, in entering the US market.

What industries has the speaker previously worked in before joining BCI?

The speaker previously worked in the pharmaceutical industry at Samsung Fine Chemicals, developing medical materials, and later in the health and functional food industries, focusing on health supplement ingredients.

Why is the US market crucial for the health supplement industry?

The US market is vital because it represents about one-third of the global health supplement market. Its size and the increasing consumer interest in supplements due to the country's less robust healthcare system make it a key area for growth.

What opportunities exist for Korean companies in the US health supplement market?

There are significant opportunities for Korean companies in areas like women’s health, especially menopause-related products, as the market for such products is large, with around 2 million women entering menopause annually in the US.

What is driving the popularity of mushroom products in the US market?

Mushrooms are gaining popularity in the US due to their health benefits, including anti-cancer, immune-boosting, and cognitive-enhancing properties. Products like mushroom coffee are becoming trendy as consumers look for functional foods.

What two key strategies should companies focus on when developing health supplement products for the US market?

Companies should focus on (1) creating products that require lower daily dosages, and (2) publishing clinical research to validate product efficacy, which will help in gaining market competitiveness.

Why is it important to adopt a long-term approach when entering the US market?

A long-term approach of at least 5 years is essential because immediate success is unlikely. Sustained planning and efforts, such as cost-effective promotional strategies, are necessary to build a strong presence in the market.

What are the challenges companies face when using trade shows to enter the US market?

Trade shows can be overwhelming and expensive for companies entering the US market for the first time. The speaker suggests that online promotions and other cost-effective methods may offer better returns in the initial stages.

What are BCI's future plans to support Korean companies entering the US market?

BCI plans to establish a branch in Korea within the next five years to facilitate easier entry for Korean companies into the US market, providing a stronger support system for their expansion efforts.