2014-04-15 17:31:01 - Sun Care in South Korea - a new market research report on companiesandmarkets.com
AmorePacific maintained the leading position with a 32% value share within the South Korea sun care market in 2012. In particular, Iope Air Cushion Sun Block created a sensation via the homeshopping channel and recorded frequent stock outages. Laneige increased its value sales by 23% and led to a positive growth rate in corporate sales. LG Household & Health Care retained the second largest value share in 2012 at 15%. Two leading domestic companies continuously accounted for half of sun protection sales.
Sun care increased by 7% in current value terms in 2012 to reach Won738.2 billion. Sun protection continued to be considered as one of the essential facial make-up/ skin care steps by Korean consumers, and maintained a healthy growth
rate. Even male consumers now also use sun protection in their daily lives and not just for outdoor activity. Base on this trend, manufacturers also actively introduced multifunctional sun protection combining skin care and facial make-up.
Sun care is expected to increase by a CAGR of 3% in constant value terms over the forecast period. Sun protection will continue to be consumed by consumers of all ages, such as skin care, and the category size is predicted to reach Won1 trillion in 2017. The constant unit price of sun protection will increase by a CAGR of less than 1% by 2017 thank to the continuous good performance of premium brands and their trusted functionality.
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