Agribusiness and Information Management

Korean Society of Food and Agricultural Information Science (한국농식품정보과학회)
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A Comparative Analysis of the Institution and Market of Health Functional Food Between Korea and Japan

  • Seo, Soyoung (Food biz lab, Dept of Agricultural Economics & Rural Development, Seoul National University) ;
  • You, Jihye (Food biz lab, Dept of Agricultural Economics & Rural Development, Seoul National University) ;
  • Moon, Junghoon (Food biz lab, Dept of Agricultural Economics & Rural Development, Seoul National University)
  • Received : 2017.10.16
  • Accepted : 2017.11.15
  • Published : 2017.12.22
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Abstract

The aim of this study was to forecast the future Health Functional Food (HFF) market trends of Korea by studied about policies and market situation in Japan. The HFF is a food that is given an additional health function. In contrast with traditional foods, the HFF has unique characteristics in that it can be produced under the political regulations. The market size of the HFF was growing gradually due to the increased of an aging population and consumer need for high quality and diversified foods. The reason why the HFF market in Japan grew up earlier than other countries, Japan was the first country that institutionalized the HFF policies. Therefore, in this paper, by examining the policies and the market situation of Japan through literatures, we forecasted upcoming political and market situational changes of Korea's HFF market. We noticed that consumers needs about the HFFs which diversified, confidently ensured safety and ingredients will increase. In this regard, the government will reorganize legislation in order to increase the confidence of the safety of HFFs. In addition, the market size of domestic HFFs which are produced by major food companies will grow.

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References

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