2014-01-24 19:42:05 - Skin Care in South Korea - a new market research report on companiesandmarkets.com
AmorePacific maintained second position in the South Korea skin care market in 2012 with a 26% value share. Its premium brand, Sulwhasoo continued to register a good performance increasing its value sales by 8%. The brand retained first place in both premium and mass brands in 2012. In the duty free channel, the brand´s power increased more based on the popularity of its products among tourists from other Asian countries. Even though Hera lost marginal value share in 2012, it also recorded 5% value sales growth and remained the third largest brand in skin care. In addition to its premium brands, its mass brands, such as LaneÃge and Mamonde, also registered a better performance thanks to the strong power of
beauty specialist retailer, Aritaum.
Skin care increased by 8% in current value terms in 2012 to reach Won4.5 trillion. Thanks to the positive growth rate of most categories, skin care recorded a good performance in 2012. Rather than premium skin care, mass skin care registered higher growth based on a decline in department stores and direct selling channels. On the other hand, beauty specialist retailers recorded a healthy growth rate in 2012 as well as in the previous year, which led to a strong performance of mass skin care.
Skin care is expected to increase by a CAGR of 4% in constant value terms over the forecast period. More diverse ingredients and functionality will lead to positive growth of skin care. The category is already mature, therefore manufacturers will try to introduce new product concepts, including new ingredients, packaging or new distribution channels.
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