The South Korea Hair Care market size was USD 1.23 Billion in 2022 and is likely to reach USD 1.47 Billion by 2031, expanding at a CAGR of 2% during 2023–2031. The growth of the market is attributed to the growing awareness of the benefits of natural hair care products and women in country prefer a variety of hair care products, alternative to chemical treatments.
Hair care refers to the grooming and cosmetology of hair that develops from the scalp. Hair care techniques vary depending on the individual's culture and the physical characteristics of their hair. Shampoo, hair color, conditioner, hair styling products, and hair oil are just a few of the hair care products available. Hair care relates to the sanitary and cosmetic treatment of hair to maintain it healthy, clean, and stylish. Various treatments and products are used to treat hair on the scalp, facial hair, and hair on other parts of the body.
Hair is exposed to a variety of procedures in order to preserve its health, including cutting, plucking, waxing, and coloring. These treatments are used on hair depending on the kind of hair, the consumer's demands, and, of course, current fashion trends. Hair care items include hair spray, hair oil, conditioner, and shampoo. Hair gel, hair serum, hair mask, hair color, and a variety of additional products are also available. The hair care business has changed dramatically in the previous decade, with the advent of new hair styles, hair regeneration, and hair colorant treatments.
South Korea Hair Care Market Trends, Drivers, Restraints, and Opportunities
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Increasing demand for organic and natural hair care products with rising disposable income is expected to boost the market during the forecast period.
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Growing hair related problems like hair greying is major factors fueling the market.
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Growing urbanization and increasing young age population is likely to create demand for hair styling products during forecast period.
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Rising incidence of allergic reactions due to hair care products present as key challenges that can hamper the market growth during the forecast period.
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R&D investment and development of ethic products and natural hair styling products is expected to create immense opportunities for the market players.
Scope of South Korea Hair Care Market Report
The report on the South Korea hair care market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Attributes
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Details
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Report Title
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South Korea Hair Care Market - Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023–2031
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Segmentation
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Product Types (Shampoo, Conditioner, Hair Spray, Serum, and Others), and Distribution Channels (Supermarkets, Convenience Stores, Drug Stores, Specialty Stores, Online Retail Stores, and Others)
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Geography
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South Korea
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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Aekyung Industry Co. Ltd; Tony Moly; Amorepacific Corp; Nature Republic Inc.; and LG Household & Healthcare Ltd.
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South Korea Hair Care Market Segment Insights
The shampoo segment is projected to represent a major market share
Based on product types, the South Korea hair care market is divided into shampoo, conditioner, hair spray, serum, and others. The shampoo segment is expected to represent a key share of the market during the forecast period owing to variety of hair-strengthening substances, such as vitamins, plant extracts, minerals, oils, and other substances that stimulate the growth of scalp hair follicles.
Consumers are increasingly aware of the damage caused by irritating chemicals such as sulfates and parabens, which are commonly used in hair care products. In addition, shampoos with functional advantages such as anti-fouling, hair growth, non-dandruff, and organic certified shampoos are becoming popular in the market and occupy most of the retail shelf space.
The supermarkets segment is expected to grow at a significant pace
On the basis of distribution channel, the market is segregated into supermarkets, convenience stores, drug stores, specialty stores, online retail stores, and others. The supermarket segment is anticipated to hold a key share of the market during the forecast period owing to products having a wide range under one roof. The emergence of a large number of supermarket chains and the changing retail pattern around the world have prepared for increased sales of hair care products in supermarket sales channels. On the other hand, the online retail stores segment is anticipated to expand at a rapid pace during the forecast period due to wide distribution networks and high product availability.
Segments
The South Korea hair care market has been segmented on the basis of
Product Types
- Shampoo
- Conditioner
- Hair Spray
- Serum
- Others
Distribution Channels
- Supermarkets
- Convenience Stores
- Drug Stores
- Specialty Stores
- Online Retail Stores
- Others
Key Players
- Aekyung Industry Co. Ltd
- Tony Moly
- Amorepacific Corp
- Nature Republic Inc.
- LG Household & Healthcare Ltd.
Competitive Landscape
Key players competing in the South Korea hair care market include Aekyung Industry Co. Ltd; Tony Moly; Amorepacific Corp; Nature Republic Inc.; and LG Household & Healthcare Ltd.
Some of these players are using several market strategies such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to increase their market shares.
