South Korea Hair Care market is projected to witness a CAGR of 3.33% during the forecast period (2020 - 2025).
- Salon professional hair care in South Korea is becoming more consumer-friendly, by expanding its retail coverage and frequently introducing new products. Consumers believe salon professional hair care can satisfy more detailed concerns regarding the condition of their hair.
- Efforts to seek better options for maintaining healthy hair has led to more purchases among Koreans of either salon hair care or standard shampoos with extra functions. Korean consumers' desire to maintain healthy and smooth hair is also leading conditioners and treatments to see positive growth.
Key Market Trends
Consumers Seeking Natural and Organic Products for their Hair Care
Haircare products that go beyond their basic beautifying function to add “improvised care,“ such as products that go past moisturizing and therefore provide natural humectant properties, are growing in popularity. Therefore, manufacturers are capitalizing on this trend and offering products with special formulations and exclusive ingredients in their shampoos and conditioner. It’s a combination of Mayo, Shea Butter, Macadamia Seed Oil with a smell of sweet blend of vanilla and macadamia nuts, which helps in defeating the fizziness of the hair by supplying ultimate hydration.
Increasing Demand for Quick to Use, Convenient, and Simplified Haircare Products
Rising sophisticated demand for hair care products is inspiring busy South Korean consumers to look for simpler, time-saving beauty regimens. This has led to an increased demand for multi-functional products. Therefore, multi-functional products can be used to treat a number of adverse issues in haircare with less attention, time, and regular demands. This “more than one benefit” approach has motivated manufacturers to expand and innovate in the segment and introduce a plethora of hair care products with multiple benefits. For instance, Moltobene Clay Esthe EX Scalp Essence is a lightweight essence or leave in the fluid which helps dry as well as oily hair by providing hydration as well as cleaning the scalp oil respectively, allowing easy-to-use and mess-free haircare even on-the-go.
LG Household & Health Care Ltd and AmorePacific Corpl are one of the leading hair care companies in South Kores. Even though these two manufacturers have a large presence in the category, they maintain aggressive promotions and occasional advertisements in order to compete with each other. The two other companies or road-shop brands, which is expanding its in the country, are Tony Moly and the Nature Republic, due to its strong product expansions and easy to use packaging.
Also, AmorePacific owns powerful haircare brands, such as Mise-en-scene and Ryo. Personal care giants still dominate hair care, but indie haircare brands are starting to stand out as consumers’ needs are becoming more specific and diverse.
- The market estimate (ME) sheet in Excel format
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Table of Contents
1.2 Study Assumptions
1.3 Scope of the Study
4.2 Market Restraints
4.3 Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5.1.4 Hair Spary
5.1.5 Other Product Types
5.2 By Distribution Channel
5.2.1 Specialist Retail Stores
5.2.3 Convenience Stores
5.2.4 Pharmacies/Drug Stores
5.2.5 Online Retail Channels
5.2.6 Other Distribution Channels
6.2 Market Position Analysis
6.3 Company Profiles
6.3.1 Amorepacific Corporation
6.3.2 LG Household & Health Care Ltd
6.3.3 Tony Moly
6.3.4 Nature Republic Inc.
6.3.5 Kao Corporation
6.3.6 Procter & Gamble Co.
6.3.7 AEKYUNG Industry Co. Ltd
6.3.8 Shiseido Company Limited