Surface Care in South Korea

PROSPECTS

Steady growth expected over the forecast period

After the decline in sales recorded in 2016 in the wake of the Oxy scandal, followed by the stagnating sales registered in 2017, 2018 saw a return to positive current value growth. Despite the chemophobia phenomenon in South Korea, in part due to the Oxy scandal, sales are expected to continue growing in current value terms over the forecast period, but South Korean consumers are now much more careful when buying products in terms of ingredients they contain.

All-purpose cleaning wipes to record strong growth

All-purpose cleaning wipes will be among the most dynamic product areas in surface care over the forecast period. These wipes are selling at reasonable prices and can be useful in different places and for various occasions.

Hypermarkets is the major distribution channel for surface care

Hypermarkets will continue to be the main channel for purchasing surface care products over the forecast period, not least due to the popularity of private label lines and the large number of hypermarkets in South Korea. These players are also displaying their private label surface care products on e-commerce and m-commerce, so that the internet retailing share is expected to increase gradually over the forecast period.

COMPETITIVE LANDSCAPE

LG Household & Health Care Ltd continues to hold the leading position

LG Household & Health Care is in a very strong position thanks to the brand power of Homestar in surface care, with the brand continuing to gain ground in 2018. The company is particularly strong in bathroom cleaners, which is a category that has seen the entry of more natural products.

Aekyung ST Co Ltd increases its share with new brands

Aekyung ST Co Ltd has introduced two surface care brands, Mom’s Selection and Quick Clean. Three types of Mom’s Selection surface care products consist of three ingredients: baking soda, sodium percarbonate and citric acid.

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