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Premium Beauty and Personal Care in South Korea
April 2021
2020 IMPACT
Premium colour cosmetics is hit hard by COVID-19 as face masks restrict demand
In 2020, premium beauty and personal care recorded an overall moderate decline as a result of the COVID-19 pandemic, however the impact of the global health crisis had a varied impact on the various categories in premium beauty and personal care. The worst hit in 2020, was premium colour cosmetics as demand for products in this category was restricted by the use of face masks.
Premium brands engage in unprecedented promotional activity to stimulate growth
During the COVID-19 pandemic, players in premium beauty and personal care sought to stimulate retail current value growth by engaging in unprecedented discounting and promotional activity for the category. Over the review period, the majority of promotional activity in premium beauty and personal care was restricted to the offer of additional ‘free gifts’ for consumers whose purchases reach a particular price threshold.
Offline sales stagnate as consumers avoid department stores
In South Korea, premium beauty and personal care brands are predominantly sold in department stores. During the COVID-19 pandemic, however, consumers avoided department stores in order to reduce their potential exposure to the COVID-19 virus.
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Overview:
Understand the latest market trends and future growth opportunities for the Premium Beauty and Personal Care 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 Premium Beauty and Personal 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.
The Premium Beauty and Personal Care 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 Premium Beauty and Personal Care 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?
Premium Beauty and Personal Care in South Korea - Category analysis
KEY DATA FINDINGS
2020 IMPACT
Premium colour cosmetics is hit hard by COVID-19 as face masks restrict demand
Premium brands engage in unprecedented promotional activity to stimulate growth
Offline sales stagnate as consumers avoid department stores
RECOVERY AND OPPORTUNITIES
Premium beauty and personal care rebounds swiftly as premium colour cosmetics lags behind
Customisation becomes a key trend in premium beauty and personal care as the subscription model gains traction
Digital revolution to shake up premium beauty and personal care
CATEGORY DATA
Table 1 Sales of Premium Beauty and Personal Care by Category: Value 2015-2020Table 2 Sales of Premium Beauty and Personal Care by Category: % Value Growth 2015-2020Table 3 NBO Company Shares of Premium Beauty and Personal Care: % Value 2016-2020Table 4 LBN Brand Shares of Premium Beauty and Personal Care: % Value 2017-2020Table 5 Forecast Sales of Premium Beauty and Personal Care by Category: Value 2020-2025Table 6 Forecast Sales of Premium Beauty and Personal Care 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 7 Sales of Beauty and Personal Care by Category: Value 2015-2020Table 8 Sales of Beauty and Personal Care by Category: % Value Growth 2015-2020Table 9 GBO Company Shares of Beauty and Personal Care: % Value 2016-2020Table 10 NBO Company Shares of Beauty and Personal Care: % Value 2016-2020Table 11 LBN Brand Shares of Beauty and Personal Care: % Value 2017-2020Table 12 Distribution of Beauty and Personal Care by Format: % Value 2015-2020Table 13 Distribution of Beauty and Personal Care by Format and Category: % Value 2020Table 14 Forecast Sales of Beauty and Personal Care by Category: Value 2020-2025Table 15 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:
Premium Beauty and Personal Care
Premium Baby and Child-specific Products
Premium Bath and Shower
Premium Eye Liner/Pencil
Premium Eye Shadow
Premium Mascara
Premium Other Lash and Brow Make-Up
Premium BB/CC Creams
Premium Blusher/Bronzer/Highlighter
Premium Foundation/Concealer
Premium Powder
Premium Other Facial Make-Up
Premium Lip Gloss
Premium Lip Liner/Pencil
Premium Lipstick
Premium Other Lip Products
Premium Nail Polish
Premium Nail Treatments/Strengthener
Premium Polish Remover
Premium Other Nail Products
Premium Colour Cosmetics Sets/Kits
Premium Deodorants
Premium Men's Fragrances
Premium Women's Fragrances
Premium Unisex Fragrances
Premium Fragrance Sets/Kits
Premium Hair Care
Premium Firming/Anti-Cellulite Body Care
Premium General Purpose Body Care
Premium Acne Treatments
Premium Face Masks
Premium Facial Cleansing Wipes
Premium Basic Moisturisers
Premium Anti-Agers
Premium Lip Care
Premium Liquid/Cream/Gel/Bar Cleansers
Premium Toners
Premium Hand Care
Premium Skin Care Sets/Kits
Premium Aftersun
Premium Self-Tanning
Premium Sun Protection
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This report originates from Passport, our Premium Beauty and Personal Care research and analysis database.
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