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Fragrances in South Korea
April 2021
2020 IMPACT
COVID-19 drove a shift in consumer spending from colour cosmetics to fragrances
In 2020, the COVID-19 pandemic and associated protection measures such as home seclusion and the use of face masks contributed to a decline in consumer demand for products in colour cosmetics. This decline benefited fragrances, leading to a slight surge in demand in retail current value sales in 2020, as consumers reassessed their spending patterns in the context of the global health crisis.
Airport sales drop as department stores redesign their fragrances sections
Premium fragrances was one of the most popular product areas for airport consumption from duty-free shops over the review period as consumers passing through airports tend to appreciate the lower prices in duty-free outlets. However, due to international travel restrictions during the COVID-19 pandemic, access to duty-free lounges was extremely limited for much of 2020, which meant that demand shifted to other retail channels.
The gender neutral trend emerges in South Korean fragrances
In 2020, the growing trend for gender neutral and gender flexible products made itself known in fragrances. This trend was noticeable in both mass fragrances and premium fragrances in 2020.
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Overview:
Understand the latest market trends and future growth opportunities for the Fragrances industry in South Korea with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Fragrances 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.
The Fragrances in South Korea report includes:
Analysis of key supply-side and demand trends
Detailed segmentation of international and local products
Historic volume and value sizes, company and brand market shares
Five year forecasts of market trends and market growth
Robust and transparent research methodology, conducted in-country
This report answers:
What is the market size of Fragrances in South Korea?
Which are the leading brands in South Korea?
How are products distributed in South Korea?
To what extent is e-commerce changing the retail environment and consumer demand?
How are sales of mass versus premium beauty products evolving?
Which products are seeing rising demand in the wake of COVID-19?
Why are changing lifestyles and consumer behaviour patterns stimulating growth of some categories but not others?
How is the macroeconomic environment shaping demand?
Where is future growth expected to be most dynamic?
Fragrances in South Korea - Category analysis
KEY DATA FINDINGS
2020 IMPACT
COVID-19 drove a shift in consumer spending from colour cosmetics to fragrances
Airport sales drop as department stores redesign their fragrances sections
The gender neutral trend emerges in South Korean fragrances
RECOVERY AND OPPORTUNITIES
Fragrances’ boost looks set to continue as COVID-19 lingers
Duty-free sales to pick up as airports prepare to reopen
Fashion brands turn to fragrances to generate growth
CATEGORY DATA
Table 1 Sales of Fragrances by Category: Value 2015-2020Table 2 Sales of Fragrances by Category: % Value Growth 2015-2020Table 3 NBO Company Shares of Fragrances: % Value 2016-2020Table 4 LBN Brand Shares of Fragrances: % Value 2017-2020Table 5 LBN Brand Shares of Premium Men's Fragrances: % Value 2017-2020Table 6 LBN Brand Shares of Premium Women's Fragrances: % Value 2017-2020Table 7 Forecast Sales of Fragrances by Category: Value 2020-2025Table 8 Forecast Sales of Fragrances by Category: % Value Growth 2020-2025
Beauty and Personal Care in South Korea - Industry Overview
EXECUTIVE SUMMARY
COVID-19 impact on beauty and personal care
COVID-19 country impact
Company response
Retailing shift
What next for beauty and personal care?
Chart 1 Beauty and Personal Care Value Sales Growth Scenarios: 2018-2025Chart 2 Beauty and Personal Care Impact of Soft Drivers on Value Sales: 2017-2025
MARKET DATA
Table 9 Sales of Beauty and Personal Care by Category: Value 2015-2020Table 10 Sales of Beauty and Personal Care by Category: % Value Growth 2015-2020Table 11 GBO Company Shares of Beauty and Personal Care: % Value 2016-2020Table 12 NBO Company Shares of Beauty and Personal Care: % Value 2016-2020Table 13 LBN Brand Shares of Beauty and Personal Care: % Value 2017-2020Table 14 Distribution of Beauty and Personal Care by Format: % Value 2015-2020Table 15 Distribution of Beauty and Personal Care by Format and Category: % Value 2020Table 16 Forecast Sales of Beauty and Personal Care by Category: Value 2020-2025Table 17 Forecast Sales of Beauty and Personal Care by Category: % Value Growth 2020-2025
GLOBAL MACROECONOMIC ENVIRONMENT
GLOBAL INDUSTRY ENVIRONMENT
DISCLAIMER
SOURCES
Summary 1 Research Sources
The following categories and subcategories are included:
Fragrances
Premium Men's Fragrances
Premium Women's Fragrances
Premium Unisex Fragrances
Premium Fragrance Sets/Kits
Mass Men's Fragrances
Mass Women's Fragrances
Mass Unisex Fragrances
Mass Fragrance Sets/Kits
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This report originates from Passport, our Fragrances research and analysis database.
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