PROSPECTS AND OPPORTUNITIES
Scented premium categories set to perform well, but premium nail care will face competition
Premium beauty and personal care in South Korea is expected to see slow and stable retail growth rates at constant 2024 prices in the forecast period, with a stronger CAGR anticipated in the forecast period than was seen in the review period. The premiumisation trend, consumers’ strong interest in skin care, and the growing presence of premium K-beauty brands in the global market are likely to be key growth drivers.
Opportunities for selling premium products to men, but not necessarily male-specific products
Premium men’s skin care is anticipated to continue to struggle to achieve value growth at constant 2024 prices in the forecast period. Despite strong interest amongst Korean men in grooming, and the launch of various brands and new products, sales in premium men’s skin care remain underwhelming, and the review period constant value decline is set to continue.
Improving performance expected for premium face masks
Premium face masks is expected to return to a better performance in the forecast period, with a slowing of the rate of decline in retail value terms at constant 2024 prices. Leading this trend is likely to be Biodance Collagen Face Mask, which won two awards in the mask pack category at the 2024 Olive Young Awards, and the face mask pack category at the Global Awards.
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Overview:
Understand the latest market trends and future growth opportunities for the Premium Beauty and Personal Care industry in South Korea with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Premium Beauty and Personal Care industry in South Korea, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
The Premium Beauty and Personal Care in South Korea report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
- Historic volume and value sizes, company and brand market shares
- Five year forecasts of market trends and market growth
- Robust and transparent research methodology, conducted in-country
This report answers:
- What is the market size of Premium Beauty and Personal Care in South Korea?
- Which are the leading brands in South Korea?
- How are products distributed in South Korea?
- To what extent is e-commerce changing the retail environment and consumer demand?
- How are sales of mass versus premium beauty products evolving?
- Which products are seeing rising demand in the wake of COVID-19?
- Why are changing lifestyles and consumer behaviour patterns stimulating growth of some categories but not others?
- How is the macroeconomic environment shaping demand?
- Where is future growth expected to be most dynamic?
Premium Beauty and Personal Care in South Korea - Category analysis
KEY DATA FINDINGS
Solid growth, but performances vary significantly across categories
Brand image change for the two leaders
Steps made to address counterfeit products, but more will need to be done
Scented premium categories set to perform well, but premium nail care will face competition
Opportunities for selling premium products to men, but not necessarily male-specific products
Improving performance expected for premium face masks
Beauty and Personal Care in South Korea - Industry Overview
Beauty and personal care in 2024: The big picture
2024 key trends
Competitive landscape
Retail developments
What next for beauty and personal care ?
DISCLAIMER
The following categories and subcategories are included:
Premium Beauty and Personal Care
- Premium Baby and Child-specific Products
- Premium Bath and Shower
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- Premium Eye Liner/Pencil
- Premium Eye Shadow
- Premium Mascara
- Premium Other Lash and Brow Make-Up
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- Premium BB/CC Creams
- Premium Blusher/Bronzer/Highlighter
- Premium Foundation/Concealer
- Premium Powder
- Premium Other Facial Make-Up
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- Premium Lip Gloss
- Premium Lip Liner/Pencil
- Premium Lipstick
- Premium Other Lip Products
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- Premium Nail Polish
- Premium Nail Treatments/Strengthener
- Premium Polish Remover
- Premium Other Nail Products
- Premium Colour Cosmetics Sets/Kits
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- Premium Deodorants
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- Premium Body Mists
- Premium Men's Fragrances
- Premium Women's Fragrances
- Premium Unisex Fragrances
- Premium Fragrance Sets/Kits
- Premium Hair Care
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- Premium Firming Body Care
- Premium General Purpose Body Care
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- Premium Acne Treatments
- Premium Face Masks
- Premium Facial Cleansing Wipes
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- Premium Basic Moisturisers
- Premium Anti-Agers
- Premium Lip Care
- Premium Liquid/Cream/Gel/Bar Cleansers
- Premium Toners
- Premium Hand Care
- Premium Skin Care Sets/Kits
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- Premium Aftersun
- Premium Self-Tanning
- Premium Sun Protection
Premium Beauty and Personal Care
This is the aggregation of premium colour cosmetics, fragrances, deodorants, skin care, sun care, baby and child-specific products, bath and shower and hair care.
See all of our definitionsWhy buy this report?
- Gain competitive intelligence about market leaders
- Track key industry trends, opportunities and threats
- Inform your marketing, brand, strategy and market development, sales and supply functions
This report originates from Passport, our Premium Beauty and Personal Care research and analysis database.
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