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Learn moreFeb 2021
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Home care in South Korea experienced an upturn in demand across a number of categories in 2020, with the pandemic and a greater focus on the home supporting this performance. Despite a lack of an official lockdown in South Korea, social distancing measures and a general fear of spending too long outside due to concerns of exposure to the virus, meant that many consumers self-isolated or worked from home.
The South Korean authorities avoided lockdowns and instead pursued a strategy of early and aggressive mass testing, isolating anybody infected and tracking their movements to locate others who had come into contact with them. Within two weeks of its first case, the country was producing more than 100,000 test kits per day, and it had tested over 600,000 people by early May.
The competitive landscape of home care continued to be represented by domestic players, such as leaders LG Household & Health Care Co Ltd and Aekyung Industrial Co Ltd, which both gained value share in 2020, and multinationals such as Henkel, Procter & Gamble and SC Johnson Korea, which on the other hand, lost some ground to smaller players under “others” in the market in addition to other local names such as Yuhan Clorox Ltd. Smaller players are increasingly focusing on niche areas including green products, and benefit from the increasing penetration of e-commerce, a distribution channel which enables them to gain greater visibility amongst consumers, where they would normally struggle to gain shelf space in mainstream store-based retailers which tend to stock established brand names.
While the dominant distribution channel of modern grocery retailers, driven by hypermarkets, continued to operate during the pandemic, it lost notable value share to e-commerce in 2020, as consumers, concerned about the possibility of greater exposure to the virus in public spaces, turned to the latter due to its quick home delivery service. In addition, online platforms such Coupang are able to deliver single-product orders within one day without additional delivery costs if consumers are members.
Following a notable upturn in demand for home care in South Korea in 2020 as a direct result of the pandemic, the home seclusion trend and a greater focus on hygiene, the market is set to return to greater levels of normalisation in terms of consumer purchasing behaviour over the forecast period. Nevertheless, heightened awareness of the need to maintain strict cleaning routines will continue into 2021/2022 with the virus still in circulation.
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Overview
Discover the latest market trends and uncover sources of future market growth for the Home Care industry in South Korea with research from Euromonitor's team of in-country analysts.
Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.
If you're in the Home Care industry in South Korea, our research will save you time and money while empowering you to make informed, profitable decisions.
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This industry report originates from Passport, our Home Care market research database.
Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.