Colour Cosmetics in South Korea

PROSPECTS

Young generation emerges as a core consumer base

Age in using colour cosmetic products is getting much younger and social media is considered the main reason for this. Young students are heavily influenced not only by their favourite celebrities, but also easily affected by peer and influencer reviews.

Players seek “next cushion foundation”

Cushion foundation has set its own standards and ruled the global colour cosmetics market. After a decade has passed, market players in South Korea are now seeking the next “hit” product to lead the market.

Nail products suffer decline due to artificial nails

Nail products are not picking up growth after the sharp decline in do-it-yourself nail gel. Moreover, rapid growth in artificial nails and false nail kits is undermining sales of nail products.

COMPETITIVE LANDSCAPE

Private label brands start to stand out

While AmorePacific Corp leads colour cosmetics with an exceptional brand line-up including Hera, Sulwhasoo, Iope and Laneíge, private label brands are starting to show presence in South Korea. Olive Young, the leading drugstore brand in South Korea has already seen significant performance with its colour cosmetics brand WakeMake.

Both international and domestic brands show strong presence in colour cosmetics

International brands continue to show dominance in premium colour cosmetics while domestic brands grow in mass colour cosmetics. International premium brands still have higher dominance and power in setting general trends and currently focus on department store retailing.

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