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Colour Cosmetics in South Korea

South Korea colour cosmetics market: 3% CAGR growth forecast between 2012-17


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2014-01-24 20:01:01 - Colour Cosmetics in South Korea - a new market research report on companiesandmarkets.com

LG Household & Health Care, including The Faceshop brand, ranked first with a 25% value share in the South Korea colour cosmetics market. Existing brands by LG Household & Health Care recorded marginal growth or stagnation, however its newly acquired brands, such as VOV and VDL, expanded its category share thanks to support from its parent company. VOV achieved a 3% value share while VDL made an entrance into the category in 2012.

Most categories of colour cosmetics recorded a healthy growth rate in current value terms in 2012. Eye make-up grew by 15%, while facial make-up and lip products recorded growth of 8% and 6%, respectively. Nail products maintained the highest growth rate among colour cosmetics at 18% in current

 

 

value terms in 2012. Strong colours in make-up, such as burgundy, became popular again in 2012, which was a factor in the continuous healthy growth of colour cosmetics.

Colour cosmetics is expected to increase by 3% in constant value terms over the forecast period. In particular, nail products will record a healthy growth rate over the forecast period with a CAGR of 3% in constant value terms. As strong eye-make will continue to be popular, eye liner/pencil is predicted to record a CAGR of 4% in constant value terms and mascara will also maintain a positive growth rate. However, eye shadow will decline due to the fact that trends in specific colours can change rapidly depending on other fashion trends. Meanwhile, facial make-up will register positive growth to 2017, although the rate of growth will be slower than in 2012 when sales were boosted by the popularity of vibrating make-up puffs (sponges).

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