Skin Care in South Korea

PROSPECTS

Mature category seeks innovative ingredients to attract consumers

Skin care in South Korea is a highly mature category in terms of per capita spend, but development of innovative ingredients is still under way. Local ingredients such as ginseng and green tea extract are extremely developed, but general ingredients still follow global innovations.

Personalised demand impacts

Skin care is one of the most developed categories in South Korea and so are the consumers. Many consumers have detailed knowledge and interest in skin care products.

Dermocosmetics’ continued popularity to expand at fast pace

Functional expectations in skin care expand from moisturising, anti-ageing and now to repairing. Dermocosmetics is a global phenomenon and South Korea also shows frequent product development in this area.

COMPETITIVE LANDSCAPE

Direct selling brands show considerable penetration

Direct selling brands show strong penetration in South Korea, especially in skin care. The two leading manufacturers, LG Household & Health Care Ltd and AmorePacific Corp both operate in the direct selling channel and several direct selling brands such as Amway, Atomy and Nu Skin are included among the top 10 manufacturers in skin care.

Non-cosmetics manufacturing companies take measures to grow revenue

With competition becoming intense in skin care, more innovation is yet to come from manufacturers and retailers. Unique ingredients are discovered by manufacturers, but not always by beauty and personal care companies.

Small brands target young generation

Brands identify themselves with the retailing channel they focus on. Brands such as isoi, Manyo and Miguhara are distributed mainly through internet retailing and some drugstores.

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