South Korea Cosmetic Products Market - Growth, Trends, and Forecasts 2017 - 2022

  • ID: 4385499
  • Report
  • Region: South Korea
  • 78 pages
  • Mordor Intelligence
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The South Korea Cosmetic Products Market was valued at USD 4.02 in 2015 and is projected to reach USD 7.15 by 2020, at a CAGR of 12.22% during the forecast period from 2015 to 2020.

The South Korea cosmetic products market can be segmented on the basis of product into hair care products, skin care products, oral care products, color cosmetics products, fragrances, soaps and shower gels, sun care products, and others. On the basis of distribution channel, the market is segmented into direct selling, supermarkets, specialty stores, e-commerce, departmental stores, pharmacies, and others.

South Korea is the center of cosmetics innovation in the world. A number of new innovations, such as BB creams and cushions foundation among others, have made their way to the rest of the world after having originated here. South Korea has a thriving cosmetics manufacturing industry, with a large and increasing proportion of exports to other countries. Famous brands popular with the South Korean middle income bracket are Laneige, SK II, Etude House, Skin Food, and others. Premium products by La Prairie, Dior, Guerlain, Clarins, Clinique, Lancôme, Estee Lauder, Shiseido, and others are also high in demand owing to the high purchasing power and an inclination to look good. South Korea is now the birthplace of the budding trend of makeup for men, as well, which represents a potential growth area in South Korea’s market space.

The cosmetics or beauty products industry in the world is a sector, which remains impervious to the ups and downs of the world economy. Overall sales are indeed affected in the event of an economic downturn, but one can always count on the sales of cosmetics to maintain a certain overall volume. This could be contributed to the continuing and growing usage of cosmetic products by women and men alike, across the world.

The predominant trends for cosmetics include lasting power and new colour palettes, increasing market share for ethnic products, and an increased preference for vegan, organic, and natural beauty products, which are enhanced through the usage of other ingredients to mitigate the harmful effects of pollution, sun, dust, and harmful ingredients that are typically a part of cosmetic products.

Distribution is pervasive through exclusive stores of luxury products in malls or standalone, while e-commerce is emerging as a competitor to direct sales for all mass and premium brands. Customers are increasingly looking for value for money products, which are natural and beneficial for the skin, and which provide a range of combined benefits of high priced premium products at a lower than premium cost. This product class has been dubbed as masstige. Mid-income customers are trading down from premium to masstige, and from masstige to mass market, depending on their purchasing power and multi-benefits offered in products.

Some major players in the South Korea cosmetic products are Unilever, L’Oréal, Beiersdorf, MAC, Revlon, Olay, Avon, Boots No 7, Maybelline, and Neutrogena among others.

Key Deliverables:

Market analysis for the South Korea Cosmetic Products Market, with region specific assessments and competition analysis on global and regional scales
Market definition along with the identification of key drivers and restraints
Identification of factors instrumental in changing the market scenarios, rising prospective opportunities, and identification of key companies that can influence this market on a global and regional scale
Extensively researched competitive landscape section with profiles of major companies along with their market shares
Identification and analysis of the macro and micro factors that affect the South Korea cosmetic products market on both global and regional scales
A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information
A wide-ranging knowledge and insights about the major players in this industry and the key strategies adopted by them to sustain and grow in the studied market
Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped
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1. Introduction
1.1 Study Deliverables
1.2 Study Assumptions
2. Research Methodology
3. Executive Summary
4. Market Overview
4.1 Introduction
4.2 Industry Value Chain Analysis
4.3 Industry Attractiveness - Porter's Five Forces Analysis
4.3.1 Bargaining Power of Suppliers
4.3.2 Bargaining Power of Consumers
4.3.3 Threat from new entrants
4.3.4 Threat from substitute Products
4.3.5 Competitive rivalry within the industry
4.4 Industry Policies
5. Market Dynamics
5.1 Drivers
5.1.1 Innovation in Packaging and Design
5.1.2 Aging population
5.1.3 Growth of E-Commerce
5.1.4 Increasing access to Middle-bottom segment of pyramid consumers
5.2 Restraints
5.2.1 New medical technologies for beauty enhancements
5.2.2 Volatile Raw Material Prices
5.3 Opportunities
5.3.1 Growing Demand for Organic Products
6. South Korea Cosmetics Market Segmentation
6.1 By Product Types
6.1.1 Hair care products
6.1.2 Skin care products
6.1.3 Oral care products
6.1.4 Make up & Color Cosmetics products
6.1.5 Fragrances & Deodorants
6.1.6 Soaps and shower gels
6.1.7 Sun care products
6.1.8 Others
6.2 by Distribution Channel
6.2.1 Direct selling
6.2.2 Hypermarkets/ Retail Chains
6.2.3 E-Commerce
6.2.4 Specialty stores
6.2.5 Pharmacies
6.2.6 Salon
6.2.7 Others
7. Vendor Market Share Analysis
8. COMPANY PROFILES
8.1 L'Oreal Group
8.2 Procter & Gamble
8.3 Beiersdorf AG
8.4 Avon Products, Inc.
8.5 Unilever
8.6 The Estée Lauder Companies Inc.
8.7 Shiseido
8.8 Kao Corp.
8.9 Revlon Inc.
8.10 Mary Kay
8.11 Yves Rocher
8.12 Oriflame Cosmetics S.A
8.13 Alticor
9. Investment Analysis
9.1 Recent Mergers & Acqisitions
9.2 Strategic Alliances
9.3 Investment Scenario
10. Future Of South Korea Cosmetic Products Market

List of Tables

1: Asia Pacific Cosmetic market Revenue, 2014-2020 ($Billion)
2: South Korea Cosmetic Market By Product Types ($Billion), 2014-2020
3: South Korea Cosmetic Market By Product Types - Hair care Products ($Billion), 2014-2020
4: South Korea Cosmetic Market By Product Types - Skin care Products ($Billion), 2014-2020
5: South Korea Cosmetic Market By Product Types - Oral Care Products ($Billion), 2014-2020
6: South Korea Cosmetic Market By Product Types - Color Cosmetic Products ($Billion), 2014-2020
7: South Korea Cosmetic Market By Product Types - Fragrances ($Billion), 2014-2020
8: South Korea Cosmetic Market By Product Types - Soaps and shower gels ($Billion), 2014-2020
9: South Korea Cosmetic Market By Product Types - Sun care Products ($Billion), 2014-2020
10: South Korea Cosmetic Market By Product Types - Others ($Billion), 2014-2020
11: South Korea Cosmetic Market By Distribution Channel ($Billion), 2014-2020
12: South Korea Cosmetic Market By Distribution Channel - Direct Selling ($Billion), 2014-2020
13: South Korea Cosmetic Market By Distribution Channel - Supermarkets ($Billion), 2014-2020
14: South Korea Cosmetic Market By Distribution Channel - Specialty Stores ($Billion), 2014-2020
15: South Korea Cosmetic Market By Distribution Channel - Pharmacies ($Billion), 2014-2020
16: South Korea Cosmetic Market By Distribution Channel - Salon ($Billion), 2014-2020
17: South Korea Cosmetic Market By Distribution Channel - Others ($Billion), 2014-2020
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