Kolmar BNH is striving to become a global hub for health supplements. In response to the growing demand in the global market, which has started to expand, it is strengthening investments in raw materials and production infrastructure instead of focusing on the low-growth domestic market.
According to industry sources on the 3rd, Kolmar BNH has partnered with the global healthcare company Hailion since 2021 to produce the comprehensive vitamin "Centrum," expanding the entrusted volume from about 10% in the first year to over 60% last year. Since May of this year, it has been exporting "Centrum Immune Boost," using its self-developed "Cool Melting Powder" technology, to China.
In Japan, it has collaborated with a local major pharmaceutical company to introduce inner beauty (eat-to-beautify) products with dual formulations at major drugstores. Additionally, it plans to produce products utilizing independently developed formulations in partnership with a distribution company under a Malaysian conglomerate.
Furthermore, a contract for transferring the manufacturing of multivitamin brand products for health supplement corporations under a global pharmaceutical group to Kolmar BNH is in the final stages. Through this, it aims to lead the diversification of its export markets from a focus on China to Japan and Southeast Asia, stepping forward as a leader in K health supplements.
Last year, Kolmar BNH's overseas business revenue increased by 13.4% compared to the previous year. The proportion of overseas sales reached 37% of total sales. The company noted that focusing on enhancing its overseas business capabilities through indirect exports with major clients has been effective. This year, it aims to grow annual overseas business revenue by 50% compared to last year.
According to the Korea Health Supplements Association, the domestic health supplement market size grew from 5.175 trillion won in 2020 to 6.1498 trillion won in 2022. Last year, it recorded 6.064 trillion won, marking a decline for the second consecutive year following 2023. In contrast, health supplement exports have been on the rise, increasing from $722.7 million (about 1.005 trillion won) in 2021 to $90.47 million (about 1.2534 trillion won) last year.
Kolmar BNH has prepared for the expansion of global demand by increasing new formulations and independently developed raw materials, pre-investing in its Sejong Plant 3, and obtaining key global certifications such as the U.S. FDA, Australia TGA, and halal. CEO Yoon Ye-won remarked, "It requires a long preparation to have the production capabilities that global healthcare companies demand."
Yoon, who joined the marketing team of Kolmar Korea in 2001, has led Kolmar BNH as its sole CEO since last year. He also serves as vice president of the Korea Health Supplements Association and the Korea Importers Association, strengthening responses to global regulations and networking.