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A customer checks out a JungKwanJangi red ginseng extract product at a Sprouts Farmers Market store. (KGC) |
Korea Ginseng Corporation announced Wednesday that it has signed a contract with US supermarket chain Sprouts Farmers Market to distribute its health supplement products under its red ginseng brand JungKwangJang in the US.
Sprouts Farmers Market is a supermarket chain headquartered in Phoenix, Arizona. The company offers a wide selection of natural and organic foods at its 415 offline stores in the US, and its annual sales reach some 9 trillion won ($6.4 billion), according to KGC.
“Improved sales of our health supplement products through Costco and Amazon helped to sign a new contract with Sprouts Farmers Market,” KGC said.
According to KGC, sales of its JungKwanJang products at Costco stores in the US increased by 150 percent on-year during the January-May period. JungKwanJang's red ginseng drink products, in particular, are gaining popularity in the caffeine-free drink market in the US, the company added.
Under the latest contract, KGC will supply three different types of JungKwanJang products: Everytime 2000mg, Everytime Powerful Deer Antler and Everytime Energy Boost. KGC said it has reduced the bitterness of its functional foods to meet local taste preferences.
“The latest contract with Sprouts Farmers Market is meaningful for KGC as it would provide KGC with a new opportunity to target the middle and upper-class population,” an official from KGC said. “KGC will continue to introduce new products for the US market and develop new partnerships with international retailers.”
