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South Korea hair care market: 3% CAGR growth forecast between 2012-17

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PR-Inside.com: 2014-04-15 17:39:01
AmorePacific maintained first position in the South Korea hair care market with a 24% value share in 2012. Its premium brand, Ryeo continued to perform well and ranked first in standard shampoos. Mise-en-scene also registered a positive growth rate in all the hair care categories in which it was present.

The strengthening functionality of leading brands of hair loss treatment continued to perform well in 2012. The share of the top two functional shampoos (Ryeo and ReEn)´ within standard shampoos reached 27% in 2012 from less than 18% in 2009. Moreover, salon hair care increased by 5% while diversity in premium products within conditioners also helped the entire hair care category to record 6% value growth in 2012.

Hair care is expected to increase by a CAGR of 3% in constant value terms over the forecast period. Salon hair care is predicted to show a higher growth rate than other hair care categories based on premiumisation. The number of young consumers who are concerned about hair loss is increasing, and they tend to purchase salon hair care products which they consider to be more professional. As brands of salon hair care are also becoming more diverse, consumer options are also becoming wider than before. The value share of "others" within salon hair care increased to 17% in 2012.

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