Beauty and personal care continues to show healthy growth in 2012
The beauty and personal care industry recorded health growth in 2012. In skin care, mass brands registered higher growth than their premium counterparts thanks to improvements in their quality and competitive pricing. On the other hand, in personal care, such as oral care, hair care and bath and shower categories, premium brands are regularly launched and tend to perform well, thanks to the diversification of these products. Since the onset of the economic downturn, many consumers have shifted from premium to mass brands. However, higher-income demographics still consider ingredients and product quality, such as functionality, to be important when they are choosing which brands to purchase.
Product variety in cosmetics and make-up have a positive impact on the category
New ingredients or new technologies in cosmetics led to positive growth in 2012. For instance, products such as, 100% organic skin care, stem cell skin care, vibrating facial make-up tools, cosmetic coolers for chilled cosmetics and smart cosmetic packages to keep the products fresh, were all introduced towards the end of the review period and attracted consumer demand in 2012. Manufacturers’ efforts to innovate in order to meet consumer demand resulted in positive growth in the beauty and personal care industry and consumers fully embraced the variety available in beauty and personal care products.
Domestic players continue to expand their share in beauty and personal care
Two leading domestic players maintained their solid positions by introducing new products and brands in 2012. In particular, LG Household & Health Care acquired a famous colour cosmetics brand and expanded its colour cosmetics line to compete with AmorePacific. Meanwhile, domestic beauty specialist retailers, The Faceshop, Etude, Innisfree, Nature Republic, Skin Food and Tony Moly continued to perform well, recording double-digit growth. On the other hand, growth of international players and domestic mid-sized players, which mainly distribute premium brands, contracted or stagnated.
Competitive power of beauty specialist retailers and homeshopping channels strengthens
Given the popularity of mass brands, beauty specialist retailers continued to show healthy growth in 2012. However, premium distribution channels, such as department stores and direct selling, stagnated. As a result, the brands that are mainly distributed via department stores also lost value share in 2012. Meanwhile, the homeshopping channel emerged as a dark horse for new brand entrants. In 2012 some products created a sensation solely through the homeshopping channel and within a short timeframe, and became a competitive tool for some players, while internet retailing also expanded its share of sales in 2012.
Sustainable growth anticipated in beauty and personal care over the forecast period
Over the forecast period, beauty and personal care is expected to record positive growth based on active new product launches. Premium personal care products, such as hair care and oral care, will show a strong performance with upgraded functionality. However, in skin care, mass brands are expected to achieve higher growth based on an expanding number of beauty specialist retailers’ outlets as well as growth in the numbers of foreigners from neighbouring Asian countries.
Samples (FAQs about samples):
Sample Beauty and Personal Care Market Research Report
Sample Beauty and Personal Care Data
Delivery: Files are delivered directly into your account within a few minutes of purchase.
Discover the latest market trends and uncover sources of future market growth for the Beauty and Personal Care industry in South Korea with research from Euromonitor's team of in-country analysts.
Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.
If you're in the Beauty and Personal Care industry in South Korea, our research will save you time and money while empowering you to make informed, profitable decisions.
When you purchase this report, you also get the data and the content from these category reports in South Korea for free:
The Beauty and Personal Care in South Korea market research report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
- Historic volumes and values, company and brand market shares
- Five year forecasts of market trends and market growth
- Robust and transparent market research methodology, conducted in-country
Our market research reports answer questions such as:
- What is the market size of Beauty and Personal Care in South Korea?
- What are the major brands in South Korea?
- How are sales of mass versus premium beauty products evolving?
- What are the key shifts in retail channel distribution?
Why 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 industry report originates from Passport, our Beauty and Personal Care market research database.