Due to COVID-19, sales of standard eye care products declined in current value terms in 2020, as schools closed and working from home increased. This led to more use of glasses and less use of contact lenses, in addition to less time spent outdoors, both of which are factors which can promote growth in standard eye care.
Allergy eye care also saw a current value decline in 2020, and unlike standard eye care, sales are expected to remain static in 2021 despite a very low sales base. This is partly due to more time spent indoors during COVID-19 for safety reasons, which has led to less exposure to allergens.
The eye care category still highly depends on products imported from the US or Japan, such as the leading brands Eyebon and Refresh, and fourth-placed Rohto. Domestic companies distribute these products in South Korea.
As the impact of COVID-19 passes, when consumers are able to increase the amount of time spent outside of the home, the demand for eye care products is set to recover slowly, with an increasing rate of current value growth expected over the course of the forecast period. The ongoing use of digital screens such as mobile phones and laptops will increase the demand for standard eye care products across the forecast period.
OTC eye care is expected to become increasingly saturated, and it may be harder to find new growth drivers in the category. One potential area for growth is offering new more hygienic packaging to appeal to consumers.
The competition in eye care intensified over the review period, and new brands were frequently launched, hoping to gain share in the active landscape. This is set to continue across the forecast period.
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Understand the latest market trends and future growth opportunities for the Eye Care industry in South Korea with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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If you're in the Eye Care industry in South Korea, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
This category includes artificial tears, eye ointments, eye washes, and eye drops used to treat eye allergies, red eyes, or dry eyes. Excludes all products related to contact lens use and care.See All of Our Definitions
This report originates from Passport, our Eye Care research and analysis database.
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