South Korea’s dermocosmetics market ranks 6th globally
It has attracted competition from „concept-dermo,” „dermo-inspired” and „pharma-dermo” brands.
South Korea ranked sixth in the global dermocosmetics market in 2023, according to Euromonitor’s latest Beauty and Personal Care research. This growth surpasses its overall beauty market position of 11th.
The rapid growth of dermocosmetics has attracted competition from “concept-dermo,” “dermo-inspired,” and “pharma-dermo” brands. These brands incorporate some aspects of dermocosmetics post-launch or by concept, challenging traditional dermocosmetics brands that require longer development due to extensive research and clinical trials.
“Brands that maintain a strict dermocosmetics identity are being outpaced by a rapid increase in “concept-dermo” brands in terms of both the pace of new launches and the amount of marketing buzz created,” the report noted.
Moreover, clean beauty brands are also competing with dermocosmetics by targeting sensitive skin and emphasizing natural ingredient potency without scientific backing.
The report said understanding consumer expectations is key to expanding the dermocosmetics market. South Korean consumers associate premium traits with proven efficacy and medical endorsements.
According to Euromonitor’s 2023 survey, 30% of South Korean consumers are concerned about blemish/acne-prone skin, a higher percentage than in many other countries. Sensitive skin and itchy scalp are also common concerns, providing a strong base for dermocosmetics.
To maintain market presence, dermocosmetics brands are urged to broaden their product categories beyond skin care and hair care to include color cosmetics and fragrances.
Retail Asia
Related news
Comprehensive survey on domestic cheese consumption
The objective of the Milk Interbranch Organisation and Dairy Board…
Read more >Many Hungarian companies are already using AI
In early August Hungarian Product conducted a survey among 260…
Read more >Most consumers believe AI will increase the risk of financial fraud
Americans are worried about an increase in financial fraud, which…
Read more >Related news
“Road to economic neutrality” – Eastern or Western opening?
An important element of the government’s economic strategy and communication…
Read more >The distributor of Rama and Flora margarines has changed its name
The domestic distributor of the well-known and popular Rama, Flora,…
Read more >Henkel Hungary also set out the pink ribbon this year
The “Pink October” campaign started last year continues. The movement…
Read more >