South Korea Skincare - Market Assessment and Forecasts to 2024

South Korea Skincare - Market Assessment and Forecasts to 2024

  • March 2020 •
  • 107 pages •
  • Report ID: 5885576 •
  • Format: PDF
South Korea Skincare - Market Assessment and Forecasts to 2024

Summary
The South Korean skincare sector is led by facial care category in both value and volume terms, in 2019.Facial care category is also forecast to register the fastest value and volume growth during 2019-2024.

LG Corp, Amorepacific Corporation, L`Oreal S.A. are the top three companies in the South Korean skincare sector. Direct sellers accounted for the leading share in the distribution of slincare products. Rigid plastics is the most commonly used pack material in the country. Consumption of skincare is higher among females than males in the country.

Country Profile report on the Skincare sector in South Korea provides insights on high growth markets to target, trends in the usage of packaging materials, types and closures category level distribution data and companies market shares.

What else is contained?
- Sector data: Overall sector value and volume data with growth analysis for 2014-2024
- Category coverage: Value and growth analysis for body care, depilatories, facial care, hand care and make-up remover with inputs on individual segment share within each category and the change in their market share forecast for 2019-2024
- Leading players: Market share of compaines (in value terms) and private labels (in value terms) in 2019
- Distribution data: Percentage of sales within each category through distribution channels such as cash & carries & warehouse clubs, chemists/pharmacies, convenience stores, department stores, direct sellers, health & beauty stores, hypermarkets & supermarkets, parapharmacies/drugstores, “dollar stores”, variety stores & general merchandise retailers, e-retailers other general retailers.
- Packaging data: consumption breakdown for package materials and pack types in each category, in terms of percentage share of number of units sold. Pack material data for glass, flexible packaging, paper & board, rigid plastics, and rigid metal; pack type for: tube, jar, bottle, bag/sachet, tub, aerosol, carton-folding, speciality container and other pack type, closure type for: flip/snap top, dispenser, screw top, cap, film, lever closure, prize off, foil, twist off, stopper and other closure types, primary outer types for: carton - folding, blister pack, sleeve and shrink wrap.

Scope
- Value share of South Korea is expected to grow in the global skincare market, in the next five years
- The South Korean skincare sector is forecast to register third highest value growth amongst leading Asia-Pacific markets
- Both per capita consumption and per capita expenditure of skincare was higher in South Korea compared to both the global and regional levels in 2019
- South Korean consumers prefer premium products in the skincare sector
- The per capita consumption of facial care products was higher than other skincare categories in 2019
- Sulwhasoo, owned by Amorepacific Corporation is the leading brand in the South Korean skincare sector, in 2019
- Rigid plastics is the most commonly used pack material in the South Korean skincare sector
- Facial care is the most used category across leading cities in South Korea

Reasons to Buy
- Identify high potential categories and explore further market opportunities based on detailed value and volume analysis
- Existing and new players can analyze key distribution channels to identify and evaluate trends and opportunities
- Gain an understanding of the total competitive landscape based on detailed company share analysis to plan effective market positioning
- Our team of analysts have placed a significant emphasis on changes expected in the market that will provide a clear picture of the opportunities that can be tapped over the next five years, resulting in revenue expansion
- The packaging analysis report helps manufacturers, in identifying the most commonly used packaging materials in the sector
- Analysis on key macro-economic indicators such as real GDP, nominal GDP, consumer price index, household consumption expenditure, population (by age group, gender, rural-urban split, and employed people and unemployment rate. It also includes economic summary of the country along with labor market and demographic trends.
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