Depilatories in South Korea

PRE-COVID-19 PERFORMANCE

Depilatories see weak demand, facing competition from more convenient and competitively priced alternatives

Depilatories continued to lack growth potential in 2019. Alternatives constrain the performance of depilatories.

Ministry of Food and Drug Safety implements regulations classifying wax depilatories as cosmetic products

From December 2019, wax-type hair removers were regulated as cosmetic products, under Ministry of Food and Drug Safety (MFDS) regulations. Such products were previously beyond the MFDS’ scope, leaving too much leeway for manufacturers and retailers.

Schick remains leading brand, but sees share eroded as smaller players make gains

Schick continued to lead the depilatories environment in 2019, thanks to its reputation and convenience. However, as the category is fragmented, with small brands sold in drugstores and via internet retailing, its share declined considerably in 2019.

2020 AND BEYOND

COVID-19 impact

Sales of depilatories are now expected to see negative growth of 3% in 2019 constant value terms in 2020 overall in light of the impact of COVID-19. This is unchanged on the 2020 edition of tissue and hygiene published in February 2020 (pre-COVID-19).

Affected products within depilatories

At COVID-19 took hold, depilatories saw an immediate spike in growth followed by normalisation. Consumers made panic purchases, fearing stock shortages, and also to maintain home stocks in the face of lockdown.

Recovery and opportunities

In coming years depilatories should see uptake due to switches from salon visits to home alternatives. As lockdown conditions ease and consumers are able to resume outdoor activities, there may be increased demand for products offering a high level of convenience.

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