Market Forecast By Type (Product, Services), By Product Type (Shampoo, Hair Color, Conditioner, Hair Styling Product, Hair Oil, Hair Spray, Hair Gel, Others), By Distribution Channel (Online Stores, Hypermarkets, Direct Selling) and Competitive landscape
Product Code: ETC003576 | Publication Date: Aug 2020 | Updated Date: Sep 2024 | Product Type: Report | |
Publisher: 6Wresearch | No. of Pages: 70 | No. of Figures: 35 | No. of Tables: 5 | |
South Korea Hair Care market currently, in 2023, has witnessed an HHI of 1487, Which has decreased slightly as compared to the HHI of 1610 in 2017. The market is moving towards highly competitive. Herfindahl index measures the competitiveness of exporting countries. The range lies from 0 to 10000, where a lower index number represents a larger number of players or exporting countries in the market while a large index number means fewer numbers of players or countries exporting in the market.
Report Name | South Korea Hair Care Market |
Forecast period | 2024-2030 |
CAGR | 4% |
Growing Sector | Cosmetics |
The South Korea Hair Care Market report thoroughly covers the market by Type, Product Type, and Distribution Channel. The market report provides an unbiased and detailed analysis of the ongoing market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.
The South Korea Hair Care Market has witnessed growth in the past years and is expected to continue its growth at a steady rate in the coming years. This is due to rising disposable income, a rising economy, changing lifestyles, government initiatives, growing awareness, and the importance of grooming.
According to 6Wresearch, the South Korea Hair Care Market size is expected to grow at a significant CAGR of 4% during 2024-2030. One of the major drivers for the growth of the hair care market in South Korea is the rising disposable income of its consumers. As the economy continues to grow, more South Koreans are able to afford premium hair care products and treatments. Moreover, the changing lifestyles in South Korea have also contributed to the growth of the hair care market. With busy schedules and a focus on appearance, many South Koreans are looking towards easy-to-use and time-saving hair care solutions such as dry shampoo or multi-purpose styling products. Furthermore, the growing awareness and importance placed on personal grooming, have also driven the growth of the market.
The South Korean hair care market is highly competitive with numerous local and international brands, which is a major challenge for the market. Moreover, the high price of hair care products is another challenge for the market especially, for low-income consumers.
One of the leading players in the South Korea hair care market is Amorepacific Corporation. The company offers a wide range of hair care products. Another prominent player in the market is LG Household & Health Care Ltd., which offers various hair care products under brands like The Face Shop and Belif. Kolmar Korea Co., Ltd. is another major player, known for its high-quality hair care products enriched with natural extracts and oils. Other notable players in the South Korea hair care market include Procter & Gamble Co., L'Oreal SA, Johnson & Johnson Services Inc., and Unilever PLC.
One of the most prominent initiatives is the K-Beauty campaign, which aims to highlight and promote Korean beauty products, including hair care. Additionally, the government has implemented various regulations to ensure the quality and safety of hair care products in the market such as strict standards for ingredients, labeling requirements, and regular inspections of manufacturing facilities. Moreover, there are several financial support programs available to small and medium-sized businesses in the hair care industry. Furthermore, the government has also been focusing on developing new technologies and innovations in the hair care industry.
The South Korea Hair Care Market is expected to continue its growth trajectory in the coming years due to various factors such as increasing disposable income, changing consumer preferences, and technological advancements. Moreover, the demand for natural and organic hair care products is on the rise, leading to a shift towards more sustainable and eco-friendly options. The growing trend of men's grooming in South Korea is also expected to contribute to the market growth. Furthermore, with increasing awareness about scalp health and hair loss prevention, there has been a surge in demand for specialized hair care products.
According to Ravi Bhandari, Research Head, 6Wresearch, the product segment is growing in the South Korean hair care market. This can be attributed to the increasing demand for a variety of hair products such as shampoos, conditioners, and styling products among consumers.
Based on the product type, the hair color segment is expected to grow in the coming years due to the rising trend of hair coloring and experimentation with different shades and styles by both men and women.
In terms of distribution channels, online stores have shown significant growth in the market due to their convenience and wide range of options available to consumers
The report provides a detailed analysis of the following market segments:
Table of Contents |
1. Executive Summary |
2. Introduction |
2.1. Key Highlights of the Report |
2.2. Report Description |
2.3. Market Scope & Segmentation |
2.4. Research Methodology |
2.5. Assumptions |
3. South Korea Hair Care Market Overview |
3.1. South Korea Country Macro Economic Indicators |
3.2. South Korea Hair Care Market Revenues & Volume, 2020 & 2030F |
3.3. South Korea Hair Care Market - Industry Life Cycle |
3.4. South Korea Hair Care Market - Porter's Five Forces |
3.5. South Korea Hair Care Market Revenues & Volume Share, By Type, 2020 & 2030F |
3.6. South Korea Hair Care Market Revenues & Volume Share, By Product Type, 2020 & 2030F |
3.7. South Korea Hair Care Market Revenues & Volume Share, By Distribution Channel, 2020 & 2030F |
4. South Korea Hair Care Market Dynamics |
4.1. Impact Analysis |
4.2. Market Drivers |
4.3. Market Restraints |
5. South Korea Hair Care Market Trends |
6. South Korea Hair Care Market, By Types |
6.1. South Korea Hair Care Market, By Type |
6.1.1 Overview and Analysis |
6.1.2. South Korea Hair Care Market Revenues & Volume, By Type, 2020-2030F |
6.1.3. South Korea Hair Care Market Revenues & Volume, By Product, 2020-2030F |
6.1.4. South Korea Hair Care Market Revenues & Volume, By Services, 2020-2030F |
6.2. South Korea Hair Care Market, By Product Type |
6.2.1. Overview and Analysis |
6.2.2. South Korea Hair Care Market Revenues & Volume, By Shampoo, 2020-2030F |
6.2.3. South Korea Hair Care Market Revenues & Volume, By Hair Colour, 2020-2030F |
6.2.4. South Korea Hair Care Market Revenues & Volume, By Conditioner, 2020-2030F |
6.2.5. South Korea Hair Care Market Revenues & Volume, By Hair Styling Product, 2020-2030F |
6.2.6. South Korea Hair Care Market Revenues & Volume, By Hair Oil, 2020-2030F |
6.2.7. South Korea Hair Care Market Revenues & Volume, By Hair Spray, 2020-2030F |
6.2.8. South Korea Hair Care Market Revenues & Volume, By Others, 2020-2030F |
6.2.9. South Korea Hair Care Market Revenues & Volume, By Others, 2020-2030F |
6.3. South Korea Hair Care Market, By Distribution Channel |
6.3.1. Overview and Analysis |
6.3.2. South Korea Hair Care Market Revenues & Volume, By Online Stores, 2020-2030F |
6.3.3 South Korea Hair Care Market Revenues & Volume, By Hypermarkets, 2020-2030F |
6.3.4. South Korea Hair Care Market Revenues & Volume, By Direct Selling, 2020-2030F |
7. South Korea Hair Care Market Import-Export Trade Statistics |
7.1. South Korea Hair Care Market Export to Major Countries |
7.2. South Korea Hair Care Market Imports from Major Countries |
8. South Korea Hair Care Market Key Performance Indicators |
9. South Korea Hair Care Market - Opportunity Assessment |
9.1. South Korea Hair Care Market Opportunity Assessment, By Type, 2020 & 2030F |
9.2. South Korea Hair Care Market Opportunity Assessment, By Product Type, 2020 & 2030F |
9.3. South Korea Hair Care Market Opportunity Assessment, By Distribution Channel, 2020 & 2030F |
10. South Korea Hair Care Market - Competitive Landscape |
10.1. South Korea Hair Care Market Revenue Share, By Companies, 2023 |
10.2. South Korea Hair Care Market Competitive Benchmarking, By Operating and Technical Parameters |
11. Company Profiles |
12. Recommendations |
13. Disclaimer |