The outbreak of COVID-19 in South Korea led to consumers spending more time indoors, increasing their use of digital screens for entertainment purposes. This is set to support sales of standard eye care throughout the year; however, the bulk of sales is set to be driven by severe air pollution, and the high usage of contact lenses in the country.
Due to the outbreak of COVID-19 in the country, many consumers spent less time outside during the spring season when eye allergy cases traditionally rise. As such, even though eye care is set to record positive growth in 2020, allergy eye care will record a 2% decline.
Refresh by Samil Pharmaceutical Co Ltd is set to lead the market in 2020; however, the player is seeing growing competition as other brands have been actively promoting their products during 2020. In addition, the Ministry of Food and Drug Safety tested 49 standard eye care products and publicised that all 40 were safe for use, with no contamination present.
Growth in eye care is not predicted to be heavily impacted by the outbreak of COVID-19, with heightened levels of screen use set to support sales, which tend to be driven by the use of contact lenses and allergies. However, with consumers staying inside more during 2020, allergy eye care is set to record negative growth.
In South Korea, air pollution is getting worse each year, no longer being a short seasonal issue in the spring. As such, air pollution is expected to continue impacting consumers across the forecast period, with severe levels of fine dust now being seen at any time of the year.
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, as manufacturers are looking to enter eye care – an area where consumers are less likely to have a specific brand preference compared with other consumer health categories.
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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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This report originates from Passport, our Eye Care research and analysis database.
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