Abstract
Summary
KEY FINDINGS
The South Korea skin care market is estimated to register a CAGR of 2.00% during the forecast period, 2022-2028. The regulatory framework, innovative technologies, and rising preference for vegan products propel market growth. However, market growth is restrained by mono-ethnic skin care culture hinders the market growth.
MARKET INSIGHTS
In South Korea, cosmetics fall under two categories, regular cosmetics and functional cosmetics. Functional cosmetics encompass tanning, sunscreen, anti-wrinkle, and whitening products, and now include cosmetics, hair nutrients, and colorants that protect damaged skin. The Ministry of Food and Drug Safety (MFDS) authorizes the Korea Pharmaceutical Traders Association (KPTA) to review and certify import permission requests by importers. Also, the MFDS lays down clear procedures, regulations, and guidelines for advertisement, labeling, brand holder, and manufacturers.
Furthermore, the increasing composition of active ingredients offers growth opportunities. Active ingredients are chemicals that actively target a particular skin concern, like fine lines, pigmentation, and acne. The most common active ingredients are hydroquinone, glycolic acid, avobenzone, salicylic acid, retinoids, zinc oxide, vitamin C, benzoyl peroxide, etc. Moreover, private label goods are becoming increasingly prevalent in South Korea. Such factors propel the South Korea skin care market growth.
COMPETITIVE INSIGHTS
Some of the key firms in the market are Elca Korea Co Ltd, COSRX Inc, Amorepacific, LG Household & Health Care Ltd, etc.
Our report offerings include:
• Explore key findings of the overall market
• Strategic breakdown of market dynamics (Drivers, Restraints, Opportunities, Challenges)
• Market forecasts for a minimum of 9 years, along with 3 years of historical data for all segments, sub-segments, and regions
• Market Segmentation caters to a thorough assessment of key segments with their market estimations
• Geographical Analysis: Assessments of the mentioned regions and country-level segments with their market share
• Key analytics: Porter’s Five Forces Analysis, Vendor Landscape, Opportunity Matrix, Key Buying Criteria, etc.
• Competitive landscape is the theoretical explanation of the key companies based on factors, market share, etc.
• Company profiling: A detailed company overview, product/services offered, SCOT analysis, and recent strategic developments
Table of Contents
1 RESEARCH SCOPE & METHODOLOGY
1.1 STUDY OBJECTIVES
1.2 SCOPE OF STUDY
1.3 METHODOLOGY
1.4 ASSUMPTIONS & LIMITATIONS
2 EXECUTIVE SUMMARY
2.1 MARKET SIZE & ESTIMATES
2.2 COUNTRY SNAPSHOT
2.3 COUNTRY ANALYSIS
2.4 KEY GROWTH ENABLERS
2.5 KEY CHALLENGES
3 KEY ANALYTICS
3.1 IMPACT OF COVID-19 ON SOUTH KOREA SKIN CARE MARKET
3.2 KEY MARKET TRENDS
3.2.1 RISING USE OF CLEAN PRODUCTS
3.2.2 INCREASING SKIN CARE ADOPTION BY MEN
3.2.3 GROWING INCLINATION TOWARDS ACTIVE INGREDIENTS IN SKIN CARE
3.2.4 USE OF UNIQUE INGREDIENTS
3.2.5 ENTRY OF PHARMACEUTICAL COMPANIES
3.3 PORTER’S FIVE FORCES ANALYSIS
3.3.1 BUYERS POWER
3.3.2 SUPPLIERS POWER
3.3.3 SUBSTITUTION
3.3.4 NEW ENTRANTS
3.3.5 INDUSTRY RIVALRY
3.4 OPPORTUNITY MATRIX
3.5 PESTLE ANALYSIS
3.6 VALUE CHAIN ANALYSIS
3.7 KEY BUYING CRITERIA
3.7.1 BRAND NAME
3.7.2 PRICE
3.7.3 PRODUCT FEATURES
3.7.4 PRODUCT LABEL
4 MARKET BY TYPE
4.1 BODY CARE
4.1.1 FIRMING/ANTI-CELLULITE BODY CARE
4.1.2 GENERAL PURPOSE BODY CARE
4.2 FACIAL CARE
4.2.1 ACNE TREATMENT
4.2.2 FACE MASKS
4.2.3 FACIAL CLEANSERS
4.2.4 MOISTURISERS AND TREATMENTS
4.2.5 LIP CARE
4.2.6 TONERS
4.3 HAND CARE
4.3.1 PREMIUM HAND CARE
4.3.2 MASS HAND CARE
4.4 SKIN CARE SETS/KITS
5 MARKET BY DISTRIBUTION CHANNEL
5.1 BEAUTY SPECIALISTS
5.2 DRUGSTORES/PARAPHARMACIES
5.3 DIRECT SELLING
5.4 HOMESHOPPING
5.5 E-COMMERCE
5.6 OTHER DISTRIBUTION CHANNELS
6 COMPETITIVE LANDSCAPE
6.1 MARKET SHARE ANALYSIS
6.1.1 SKIN CARE
6.2 BRAND SHARE ANALYSIS
6.2.1 SKIN CARE
6.3 COMPANY PROFILES
6.3.1 AMOREPACIFIC
6.3.2 COSRX INC
6.3.3 ELCA KOREA CO LTD
6.3.4 LG HOUSEHOLD & HEALTH CARE LTD
6.3.5 L'ORÉAL KOREA CO LTD