South Korea bath products market: LG Household & Health Care the leading player during 2012
Bath and Shower in South Korea - a new market research report on companiesandmarkets.com
PR-Inside.com: 2014-04-15 17:45:01
LG Household & Health Care maintained the leading position in the South Korea bath products market and shower products industry during 2012 with a 27% value share. The company witnessed a strong performance within body wash/shower gel and bar soap recording 27% and 38% value shares, respectively, in 2012. The company diversified its brand line in bath and shower from mass brands including Say to premium brands including Beyond and On The Body. As a result, it increased its sales in bath and shower by 16% in 2012.
Consumer lifestyles and subsequent demand for bath and shower has changed, principally thanks to the influence of multiculturalism in South Korea. In the past, Koreans simply used bar soap when visiting public baths. However, young consumers now prefer to take a shower as opposed to a bath which has rapidly boosted the popularity of body wash/shower gel. By the end of the review period, the private spa culture was popular among young consumers who prefer to use bath additives or premium body wash/shower gel, including bath foam, for its functionality. Based on this changing trend, bar soap declined over the review period, while bath additives registered positive growth since 2009 and body wash/shower gel has shown a strong performance continually.
Bath and shower is expected to increase by a CAGR of 3% in constant value terms over the forecast period. Body wash/shower gel will record a CAGR of 5% in constant value terms, while intimate washes will also register a good performance with a CAGR of 4% in constant value terms.
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