South Korea Hair Care Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 3.33 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
South Korea Hair Care Market Analysis
South Korea Hair Care market is projected to witness a CAGR of 3.33% during the upcoming five years.
Salon professional hair care in South Korea is becoming more consumer-friendly, by expanding its retail coverage and frequently introducing new products. Consumers believe salon professional hair care can satisfy more detailed concerns regarding the condition of their hair. Efforts to seek better options for maintaining healthy hair have led to more purchases among Koreans of either salon hair care or standard shampoos with extra functions. South Korean consumers' desire to maintain healthy and smooth hair is also leading conditioners and treatments to see positive growth. Customers in South Korea are looking for haircare products that are novel and can give them a sense of luxury and a soothing experience. On the other hand, an increasing number of South Korean women are searching for creative haircare solutions, color combinations, and new textures. This factor has been driving the hair care market in the region.
In addition, the changing consumer dynamics, coupled with increasing product awareness, have been identified as the major drivers of the market. Increasing millennial consumers, migration toward cities, and rising women's employment are further augmenting the market demand. Additionally, migration to cities has directly impacted the market for traditional hair care products. Furthermore, the existing population of cities is driving sales from specialty stores, e-commerce websites, and salons in particular.
South Korea Hair Care Market Trends
Rising Incidence Of Hair-Related Problems
The rising incidences of hair-related problems, such as Alopecia areata, Telogen effluvium, and other issues among consumers, have led to the demand for effective hair care products across the region. Hair care products are commonly used by the consumer to avoid problems such as hair fall, dandruff, scalp itching, and other hair-related issues. There has been a growing awareness regarding the large availability of various hair care products, mainly in the hair oil, shampoo, and conditioner segment. Hair oils help increase the hair's strength and length; therefore, consumers are looking for hair oil according to their hair type, and the manufacturing is focusing on these areas of business which are fueling the sale of hair oil in the market.
Haircare products that go beyond their basic beautifying function to add 'improvised care,' such as products that go past moisturizing and provide natural humectant properties, are growing in popularity. Therefore, manufacturers are capitalizing on this trend and offering products with special formulations and exclusive ingredients in their shampoos and conditioner. Consumers are actively looking for products that contain products with a combination of Mayo, Shea Butter, Macadamia Seed Oil and macadamia nuts, which helps in defeating the fizziness of the hair by supplying ultimate hydration.
Moreover rising concerns regarding the harmful effects of pollution, increased direct exposure to ultraviolet sun rays, excessive use of hair care tools, such as hair straighteners and hair curlers, and frequent use of shampoos with harsh chemicals are expected to drive the demand for nourishing hair care products.
Online Retail Channel Is Expected To Be The Fastest Growing Segment
In recent years, there has been a surge in the online penetration of beauty and personal care products. Factors attributed to the growth include reasonable prices and various promotions used by online shopping portals, discounts and coupons available for the latest launched products, and online portals offering insights about new makeovers and beauty ideas.
The online retail channel is witnessing one of the highest growth rates in South Korea as the trend of online shopping is gaining momentum, as it is convenient for consumers to buy products online, thereby avoiding crowded stores. Also, consumers have the luxury of browsing and shopping for products 24x7 from the comfort of their homes. The trend gained momentum, particularly after the COVID-19 pandemic to purchase a variety of hair care products online to save time.
As per L'Oréal's 2021 annual results, the company's sales increased by 62% for e-commerce across all divisions and all regions, accounting for about 26.6% of the total company's sales for 2020. Therefore, players operating in the beauty market focused on streamlining their supply chain during the pandemic period with an increased focus on online marketing
As online marketing and advertising is more economical and profitable, it has been observed that hair care brands have started using e-commerce to launch their new products, increase their consumer base and gain profitability, in addition to gaining brand loyalty and offering customer satisfaction.
For instance, in September 2021, Drunk Elephant, a Shiseido Company Limited brand, expanded its distribution channels by introducing its product lines to ultra-beauty stores online and offline in the region.
South Korea Hair Care Industry Overview
LG Household & Health Care Ltd and AmorePacific Corpl are some of the leading hair care companies in South Korea. Even though these two manufacturers have a large presence in the category, they maintain aggressive promotions and occasional advertisements in order to compete with each other. The two other companies or road-shop brands, which are expanding in the country, are Tony Moly and the Nature Republic, due to their strong product expansion strategies and easy-to-use packaging. Also, AmorePacific owns powerful haircare brands, such as Mise-en-scene and Ryo. Personal care giants still dominate hair care, but indie haircare brands are starting to stand out as consumers' needs are becoming more specific and diverse. These players sell their products on a global scale and are known to invest significantly in product innovations, R&D, and brand building. Brand identity plays a vital role in determining end-user behavior as they consider strong brands to be synonymous with high quality.
South Korea Hair Care Market Leaders
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Amorepacific Corporation
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LG Household & Health Care Ltd
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Tony Moly
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AEKYUNG Industry Co., Ltd.
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Mandom Corporation
*Disclaimer: Major Players sorted in no particular order
South Korea Hair Care Market News
- In September 2022, Duopharma Biotech Bhd, via wholly-owned Duopharma Consumer Healthcare Sdn Bhd, signed a product distribution agreement with South Korea-based stem cell technology company SCM Lifescience Inc to distribute a range of anti-hair loss products in Malaysia.
- In June 2022, South Korean cosmetic titans Amorepacific and LG Household & Healthcare (LG H&H) both launched shampoos that can conceal grey hairs to great success, signaling a huge demand for anti-aging hair care products.
- In May 2022, South Korean firm CJ OnStyle launched a new personalized beauty brand with a bespoke shampoo it developed in collaboration with K-beauty ODM giant Cosmax.
South Korea Hair Care Market Report - Table of Contents
1. INTRODUCTION
1.1 Market Definition & Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Product Type
5.1.1 Shampoo
5.1.2 Conditioner
5.1.3 Hair Gel
5.1.4 Hair Colorant
5.1.5 Other Product Types
5.2 By Distribution Channel
5.2.1 Supermarkets/Hypermarkets
5.2.2 Convenience Stores
5.2.3 Specialty Retail Stores
5.2.4 Online Retail Channels
5.2.5 Other Distribution Channels
6. COMPETITIVE LANDSCAPE
6.1 Most Adopted Strategies
6.2 Market Share Analysis
6.3 Company Profiles
6.3.1 Amorepacific Corporation
6.3.2 LG Household & Health Care Ltd
6.3.3 Tony Moly
6.3.4 Nature Republic Inc.
6.3.5 Kao Corporation
6.3.6 Procter & Gamble Co.
6.3.7 AEKYUNG Industry Co. Ltd
6.3.8 Mandom Corporation
6.3.9 Henkel AG & Co. KGaA
6.3.10 Shiseido Company Limited
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
8. ABOUT US
South Korea Hair Care Industry Segmentation
Hair care products are applied to provide natural solutions for common hair troubles, such as itchy scalp, hair loss, dandruff, frizzy hair, split ends, etc. They are also used to provide hair styling hair cleansing and conditioning. South Korean haircare market is segmented by product types, such as shampoo, conditioner, Hair Gel, Hair Colorant, and others product types. By distribution channel, the market is segmented into specialist retail stores, supermarkets/hypermarkets, convenience stores, online retail channels, Specialty retail stores, and Other distribution channels. For each segment, the market sizing and forecasts have been done on the basis of value (in USD million).
| By Product Type | |
| Shampoo | |
| Conditioner | |
| Hair Gel | |
| Hair Colorant | |
| Other Product Types |
| By Distribution Channel | |
| Supermarkets/Hypermarkets | |
| Convenience Stores | |
| Specialty Retail Stores | |
| Online Retail Channels | |
| Other Distribution Channels |
South Korea Hair Care Market Research FAQs
What is the current South Korea Hair Care Market size?
The South Korea Hair Care Market is projected to register a CAGR of 3.33% during the forecast period (2024-2029)
Who are the key players in South Korea Hair Care Market?
Amorepacific Corporation, LG Household & Health Care Ltd, Tony Moly, AEKYUNG Industry Co., Ltd. and Mandom Corporation are the major companies operating in the South Korea Hair Care Market.
What years does this South Korea Hair Care Market cover?
The report covers the South Korea Hair Care Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the South Korea Hair Care Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
South Korea Hair Care Industry Report
Statistics for the 2024 South Korea Hair Care market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. South Korea Hair Care analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
South Korea Hair Care Market Report Snapshots
