Health & Fitness - South Korea
South Korea- The Health & Fitness market in South Korea is expected to generate a total revenue of US$20.29m in 2022.
- This represents a substantial growth potential for the country's health and fitness industry.
- The market is projected to show an annual growth rate of 9.86% between 2022 and 2027, resulting in a market volume of US$32.69m by 2027.
- In terms of revenue streams, the in-app purchase (IAP) segment is projected to reach US$9.35m in 2022, indicating a strong demand for virtual goods and services within the health and fitness sector.
- Meanwhile, the paid app revenue is expected to reach US$1.01m in 2022, highlighting the willingness of consumers to invest in premium health and fitness applications.
- Additionally, advertising revenue is projected to reach US$9.92m in 2022, indicating the potential for brands to target health-conscious individuals through targeted advertisements.
- The number of downloads in the South Korean Health & Fitness market is projected to reach 30.91m downloads in 2022, reflecting a significant user base interested in health and fitness applications.
- The average revenue per download is expected to be US$0.66, showcasing the potential monetization opportunities for app developers and businesses operating within this market.
- When compared globally, it is worth noting that China currently generates the highest revenue in the Health & Fitness market, reaching a staggering US$1.61bn in 2022.
- This highlights the dominance of the American market and the immense potential for growth in other regions, including in South Korea.
- Key regions:
- Europe,
- Germany,
- Japan,
- Asia,
- United States
Definition:
The Health & Fitness market contains apps for tracking health, working out, managing stress, and providing various home remedies. The scheduled and interactive nature of many of these apps encourages users to pursue and maintain healthy lifestyles. Workout apps such as Home Workout encourage regular exercise routines with increasing progressions of difficulty. Another app, MyFitnessPal, tracks diet and calorie consumption in order to achieve specific weight goals.Additional Information:
We consider three different sources of revenue:- Revenue from in-app purchases (IAP) that comes from the purchase of features, upgrades, and subscriptions within an app
- Paid app revenue from the one-time purchase of an app
- Advertising revenue obtained from showing ads within an app
In-Scope
- Apps that can be downloaded from major app stores such as Apple, Inc.'s App Store and the Google Play store, or in the case of China, from stores such as Huawei AppGallery and Tencent Appstore.
- Apps that are run on iPhones and Android phones.
Out-Of-Scope
- Apps exclusively offered by Microsoft Store and Amazon Appstore for Android.
- Custom-made apps not available from any official app store.
- B2B/C2C app sales of any kind.
- Subscription revenues outside of in-app purchases (for example, Netflix and Spotify use their own payment systems outside of their apps).
