Demand and Trend Analysis of Anti-wrinkle Product in Korea
Demand Forecast for Anti-wrinkle Product in Korea, by Creams and Moisturizers Type, 2023 to 2033
Korea's Coveted Anti-wrinkle Product Shines in the K-Beauty Craze. Manufacturers and Suppliers Gear Up to Satisfy Soaring Demand for Timeless Beauty and Ageless Radiance
A Complete Study of Anti-wrinkle Product in Korea from 2023 to 2033
Our research indicates that the total industry value of anti-wrinkle products sold in Korea as of 2023 is likely to be around US$ 494.2 million. The demand for anti-wrinkle products is projected to increase at a 5.80% CAGR in Korea between 2023 and 2033. The report further predicts that the net worth of the anti-wrinkle product business in Korea could reach about US$ 867.3 million by the end of 2033.
Attributes
Details
Industry size of Korea in 2023
US$ 494.2 million
Expected Industry Size of Korea by 2033
US$ 867.3 million
Forecasted CAGR between 2023 to 2033
5.80%
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Key Insights of the Anti-wrinkle Product Sector in Korea
In recent years, there has been a surge in demand for anti-wrinkle solutions in Korea. This can be attributed to the increasing global awareness and emphasis on maintaining healthy skin.
Between 2018 and 2022, it was found that Korea's production of anti-wrinkle products amounted to around US$ 370 million and US$ 453.2 million, respectively, with a consistent 5.20% CAGR in product adoption.
The influence of Korean beauty trends has led to a notable surge in demand for innovative anti-aging products, particularly sheet masks and multi-step skincare routines.
Top 5 Key Trends Influencing Demand for Anti-wrinkle Product in Korea
Korea's Beauty Revolution for Every Generation:The increasing elderly population in Korea is a significant factor contributing to the demand for anti-wrinkle products. Women of all age groups in the country have a preference for superior, well-performing products that can lessen the visibility of wrinkles and fine lines.
Korea's Cosmetic Shift to Non-surgery:The general perception of natives against cosmetic treatments like Botox injections and dermal fillers has also increased the adoption of anti-wrinkle product in Korea. A significant number of individuals opt for cosmetics and pharmaceutical products that promise a more youthful appearance without the need for any surgical procedures.
Surging Sales of Anti-wrinkle Products Amidst Online Beauty Boom:Sales of anti-wrinkle products have also surged due to their easy availability on eCommerce websites, as well as in medicine and retail outlets. Rising living standards, coupled with rapid economic development and improving digital literacy, have all contributed to the increase in sales of skin-firming products in the country.
Influencers Drive Korea's Anti-wrinkle Revolution:Technological developments have also amplified the impact of social media trends, propelling regional demand for skin-plumping products. A noticeable change observed in Korea nowadays is the tendency to follow social media influencers for product suggestions and more information about anti-aging skincare.
Korea's Men Join the Wrinkle Battle:A significant portion of the male population in Korea has become a substantial consumer base for anti-wrinkle product companies in the country. Consequently, these companies are producing multipurpose skin care solutions in response to customer requests for a one-size-fits-all solution for all skin types.
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Comparative View of Anti-wrinkle Product Industry in Key Adjacent Regions
The anti-wrinkle product sector in Korea lags behind Japan, as the table below illustrates. The anti-wrinkle product industry in Japan has achieved a higher growth rate than Korea owing to its extensive distribution channels and favorable international trade relations. Meanwhile, the global market is experiencing a significant shift in business orientation due to the changing preferences of consumers according to their specific requirements.
Demand for Anti-wrinkle Product in Korea:
Attributes
Demand for Anti-wrinkle Product in Korea
CAGR (2023 to 2033)
5.80%
Valuation (2023)
US$ 494.2 million
Key Trend
A rising trend in Korea is the shift away from unnatural methods toward embracing practical and homemade skin treatment solutions
Key Challenge
The challenge is to continuously adapt to evolving customer demands and beauty trends while ensuring product effectiveness and safety.
Popularity of Anti-wrinkle Product in Japan:
Attributes
Popularity of Anti-wrinkle Product in Japan
CAGR (2023 to 2033)
6.30%
Valuation (2023)
US$ 1,176.7 million
Key Trend
Growing desire for non-invasive cosmetic procedures or skin tightening treatments has boosted product sales in Japan.
Key Challenge
Rising concern over the adverse effects of chemical-based anti-wrinkle creams on the natural skin.
Adoption Scenario of Anti-wrinkle Product in Global Context:
Attributes
Adoption Scenario of Anti-wrinkle Product in Global Context
CAGR (2023 to 2033)
6.50%
Valuation (2023)
US$ 10,255.60 million
Key Trend
A prominent trend worldwide is the profound influence of population aging on various aspects of the cosmetics and personal care industry.
Key Challenge
Procuring constraints and higher cost of raw materials required to produce anti-wrinkle products are limiting the production.
Category-wise insights
Creams & Moisturizers are the Higher Selling Anti-wrinkle Product in Korea
The creams and moisturizer segment contributes to about 60.3% of the total revenue generated in Korea in 2023. This segment is projected to experience substantial growth, holding onto its top spot over the projected years. The demand for cleansers and other products is also rising as people are becoming aware of the importance of following all steps for skin care.
Anti-wrinkle Product in Korea based on Product Type
Creams & Moisturizer
Total Share (2023)
60.3%
Retail Pharmacies Constitute the Leading Sales Channel Segment in Korea
Sales of anti-wrinkle products at pharmacies in Korea contributes to around 15.0% of the total sales achieved in the country in 2023. As Korean people prefer dermatologist-recommended skin care products more, pharmacy outlets have retained a greater share of the industry. However, with more people in the country now opting for online purchases, this segment is expected to grow at a faster rate. Online marketplaces offer convenient access to products from multiple companies and anticipated price breaks, which are likely to drive this segment's growth.
Anti-wrinkle Product in Korea based on Sales Channel
Pharmacies
Total Share (2023)
15.0%
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Competitive Landscape
The overall landscape for anti-wrinkle product in Korea has gradually turned highly competitive in the last few years. Furthermore, Korea has become one of the primary markets for anti-aging skin care products after the growing popularity of many regional players on a global scale. The development of new formulations and products with rare components is a primary approach used by the top businesses to popularize their brand.
Recent Developments in Anti-wrinkle Product in Korea
In September 2023, Hy, formerly known as Korea Yakult, introduced its new product line, Leti 7714 Triple Lift-up Up Anti-Aging Cream. It contains fermented lactic acid bacteria, and blended with it is a formulation that contains pink balls the size of micrometers. Natural components like Indian mulberry extract, moringa seed oil, and nasturtium extract are included in the composition with more than 10,000 skin lactobacillus capsules.
After the growing craze for K-beauty products worldwide, HK inno.N introduced its anti-aging skincare brand, bewants, along with a lifting cream in June 2023. This new skincare line, made with plant-based extracts, is aimed at those between the 20 and 30 age range in the international market.
Scope of the Report
Attribute
Details
Estimated Industry Size in 2023
US$ 494.2 million
Projected Industry Size by 2033
US$ 867.3 million
Anticipated CAGR between 2023 to 2033
5.80% CAGR
Historical Analysis of Demand for Anti-wrinkle Product in Korea
2018 to 2022
Demand Forecast for Anti-wrinkle Product in Korea
2023 to 2033
Report Coverage
Industry Size, Industry Trends, Analysis of key factors influencing Anti-wrinkle Product in Korea, Insights on Global Players and their Industry Strategy in Korea , Ecosystem Analysis of Local and Korea Providers
Key Companies Profiled
Amorepacific
LG Household & Health Care
Cosmax
Intercos
Kolmar Korea
Kolon Life Science
Medytox
Neopharm
Hansol BioScience
Huons
Cosderma
Abib
Benton
Dear, Klairs
Dr.Jart+
Etude House
Innisfree
Laneige
Missha
Nature Republic
Sulwhasoo
The Face Shop
Whoo
Key Players for Anti-wrinkle Product in Korea
Amorepacific
LG Household & Health Care
Cosmax
Intercos
Kolmar Korea
Kolon Life Science
Medytox
Neopharm
Hansol BioScience
Huons
Cosderma
Abib
Benton
Dear, Klairs
Dr.Jart+
Etude House
Innisfree
Laneige
Missha
Nature Republic
Sulwhasoo
The Face Shop
Whoo
Key Segments
By Product Type:
Creams & Moisturizers
Cleansers
Other Products
By Nature:
Natural or Herbal
Synthetic
Organic
By End User:
Men
Women
By Sales Channel:
Pharmacies
Specialty Outlets
Supermarkets or Hypermarkets
Convenience Stores
Beauty Stores
E-Retailers
Other Sales Channels
By Key Provinces:
South Gyeongsang
North Jeolla
South Jeolla
Jeju
Frequently Asked Questions
What is the Projected Growth Rate for the Anti-wrinkle Product Adoption in Korea?
The anticipated CAGR for the anti-wrinkle product industry in Korea through 2033 is 5.80%.
How big will the Anti-wrinkle Product Industry be in Korea?
The demand for anti-wrinkle product in Korea is expected to exceed US$ 867.3 million by 2033.
How Anti-wrinkle Product Companies are Driving Business?
Anti-wrinkle product suppliers are developing new product range frequently to boost sales.
Which is the Leading Anti-wrinkle Product Type Segment in Korea?
The creams and moisturizers segment is at the forefront of the industry in Korea, accounting for 60.3% of the revenue share in 2023.
Which is the Leading Distribution Channel for Anti-wrinkle Product in Korea?
The pharmacies segment currently holds the lead in Korea, comprising 15.0% of total sales.
Table of Content
1. Executive Summary
1.1. Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
3.3. Opportunity Map Analysis
3.4. Product Life Cycle Analysis
3.5. Supply Chain Analysis
3.5.1. Supply Side Participants and their Roles
3.5.1.1. Producers
3.5.1.2. Mid-Level Participants (Traders/ Agents/ Brokers)
3.5.1.3. Wholesalers and Distributors
3.5.2. Value Added and Value Created at Node in the Supply Chain
3.5.3. List of Raw Material Suppliers
3.5.4. List of Existing and Potential Buyer’s
3.6. Investment Feasibility Matrix
3.7. Value Chain Analysis
3.7.1. Profit Margin Analysis
3.7.2. Wholesalers and Distributors
3.7.3. Retailers
3.8. PESTLE and Porter’s Analysis
3.9. Regulatory Landscape
3.9.1. By Key Regions
3.10. Regional Parent Market Outlook
3.11. Production and Consumption Statistics
3.12. Import and Export Statistics
4. Industry Analysis and Outlook 2018 to 2022 and Forecast, 2023 to 2033
4.1. Historical Market Size Value (US$ Million) & Volume (Unit Pack) Analysis, 2018 to 2022
4.2. Current and Future Market Size Value (US$ Million) & Volume (Unit Pack) Projections, 2023 to 2033
4.2.1. Y-o-Y Growth Trend Analysis
4.2.2. Absolute $ Opportunity Analysis
5. Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Product Type
5.1. Introduction / Key Findings
5.2. Historical Market Size Value (US$ Million) & Volume (Unit Pack) Analysis By Product Type , 2018 to 2022
5.3. Current and Future Market Size Value (US$ Million) & Volume (Unit Pack) Analysis and Forecast By Product Type , 2023 to 2033
5.3.1. Creams & Moisturizers
5.3.2. Cleansers
5.3.3. Other Products
5.4. Y-o-Y Growth Trend Analysis By Product Type , 2018 to 2022
5.5. Absolute $ Opportunity Analysis By Product Type , 2023 to 2033
6. Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Nature
6.1. Introduction / Key Findings
6.2. Historical Market Size Value (US$ Million) & Volume (Unit Pack) Analysis By Nature , 2018 to 2022
6.3. Current and Future Market Size Value (US$ Million) & Volume (Unit Pack) Analysis and Forecast By Nature , 2023 to 2033
6.3.1. Natural/Herbal
6.3.2. Synthetic
6.3.3. Organic
6.4. Y-o-Y Growth Trend Analysis By Nature , 2018 to 2022
6.5. Absolute $ Opportunity Analysis By Nature , 2023 to 2033
7. Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By End-User
7.1. Introduction / Key Findings
7.2. Historical Market Size Value (US$ Million) & Volume (Unit Pack) Analysis By End-User , 2018 to 2022
7.3. Current and Future Market Size Value (US$ Million) & Volume (Unit Pack) Analysis and Forecast By End-User , 2023 to 2033
7.3.1. Men
7.3.2. Women
7.4. Y-o-Y Growth Trend Analysis By End-User , 2018 to 2022
7.5. Absolute $ Opportunity Analysis By End-User , 2023 to 2033
8. Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Sales Channel
8.1. Introduction / Key Findings
8.2. Historical Market Size Value (US$ Million) & Volume (Unit Pack) Analysis By Sales Channel , 2018 to 2022
8.3. Current and Future Market Size Value (US$ Million) & Volume (Unit Pack) Analysis and Forecast By Sales Channel , 2023 to 2033
8.3.1. Pharmacies
8.3.2. Specialty Outlets
8.3.3. Supermarkets/Hypermarkets
8.3.4. Convenience Stores
8.3.5. Beauty Stores
8.3.6. E-Retailers
8.3.7. Others
8.4. Y-o-Y Growth Trend Analysis By Sales Channel , 2018 to 2022
8.5. Absolute $ Opportunity Analysis By Sales Channel , 2023 to 2033
9. Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Region
9.1. Introduction
9.2. Historical Market Size Value (US$ Million) & Volume (Unit Pack) Analysis By Region, 2018 to 2022
9.3. Current Market Size Value (US$ Million) & Volume (Unit Pack) Analysis and Forecast By Region, 2023 to 2033
9.3.1. South Gyeongsang
9.3.2. North Jeolla
9.3.3. South Jeolla
9.3.4. Jeju
9.3.5. Rest of Korea
9.4. Market Attractiveness Analysis By Region
10. South Gyeongsang Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033
10.1. Historical Market Size Value (US$ Million) & Volume (Unit Pack) Trend Analysis By Market Taxonomy, 2018 to 2022
10.2. Market Size Value (US$ Million) & Volume (Unit Pack) Forecast By Market Taxonomy, 2023 to 2033
10.2.1. By Product Type
10.2.2. By Nature
10.2.3. By End-User
10.2.4. By Sales Channel
10.3. Market Attractiveness Analysis
10.3.1. By Product Type
10.3.2. By Nature
10.3.3. By End-User
10.3.4. By Sales Channel
10.4. Key Takeaways
11. North Jeolla Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033
11.1. Historical Market Size Value (US$ Million) & Volume (Unit Pack) Trend Analysis By Market Taxonomy, 2018 to 2022
11.2. Market Size Value (US$ Million) & Volume (Unit Pack) Forecast By Market Taxonomy, 2023 to 2033
11.2.1. By Product Type
11.2.2. By Nature
11.2.3. By End-User
11.2.4. By Sales Channel
11.3. Market Attractiveness Analysis
11.3.1. By Product Type
11.3.2. By Nature
11.3.3. By End-User
11.3.4. By Sales Channel
11.4. Key Takeaways
12. South Jeolla Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033
12.1. Historical Market Size Value (US$ Million) & Volume (Unit Pack) Trend Analysis By Market Taxonomy, 2018 to 2022
12.2. Market Size Value (US$ Million) & Volume (Unit Pack) Forecast By Market Taxonomy, 2023 to 2033
12.2.1. By Product Type
12.2.2. By Nature
12.2.3. By End-User
12.2.4. By Sales Channel
12.3. Market Attractiveness Analysis
12.3.1. By Product Type
12.3.2. By Nature
12.3.3. By End-User
12.3.4. By Sales Channel
12.4. Key Takeaways
13. Jeju Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033
13.1. Historical Market Size Value (US$ Million) & Volume (Unit Pack) Trend Analysis By Market Taxonomy, 2018 to 2022
13.2. Market Size Value (US$ Million) & Volume (Unit Pack) Forecast By Market Taxonomy, 2023 to 2033
13.2.1. By Product Type
13.2.2. By Nature
13.2.3. By End-User
13.2.4. By Sales Channel
13.3. Market Attractiveness Analysis
13.3.1. By Product Type
13.3.2. By Nature
13.3.3. By End-User
13.3.4. By Sales Channel
13.4. Key Takeaways
14. Rest of Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033
14.1. Historical Market Size Value (US$ Million) & Volume (Unit Pack) Trend Analysis By Market Taxonomy, 2018 to 2022
14.2. Market Size Value (US$ Million) & Volume (Unit Pack) Forecast By Market Taxonomy, 2023 to 2033
14.2.1. By Product Type
14.2.2. By Nature
14.2.3. By End-User
14.2.4. By Sales Channel
14.3. Market Attractiveness Analysis
14.3.1. By Product Type
14.3.2. By Nature
14.3.3. By End-User
14.3.4. By Sales Channel
14.4. Key Takeaways
15. Market Structure Analysis
15.1. Competition Dashboard
15.2. Competition Benchmarking
15.3. Market Share Analysis of Top Players
15.3.1. By Regional
15.3.2. By Product Type
15.3.3. By Nature
15.3.4. By End-User
15.3.5. By Sales Channel
16. Competition Analysis
16.1. Competition Deep Dive
16.1.1. Nature Republic
16.1.1.1. Overview
16.1.1.2. Product Portfolio
16.1.1.3. Profitability by Market Segments
16.1.1.4. Sales Footprint
16.1.1.5. Strategy Overview
16.1.1.5.1. Marketing Strategy
16.1.1.5.2. Product Strategy
16.1.1.5.3. Channel Strategy
16.1.2. COSMAX INC.
16.1.2.1. Overview
16.1.2.2. Product Portfolio
16.1.2.3. Profitability by Market Segments
16.1.2.4. Sales Footprint
16.1.2.5. Strategy Overview
16.1.2.5.1. Marketing Strategy
16.1.2.5.2. Product Strategy
16.1.2.5.3. Channel Strategy
16.1.3. Kolmar Korea
16.1.3.1. Overview
16.1.3.2. Product Portfolio
16.1.3.3. Profitability by Market Segments
16.1.3.4. Sales Footprint
16.1.3.5. Strategy Overview
16.1.3.5.1. Marketing Strategy
16.1.3.5.2. Product Strategy
16.1.3.5.3. Channel Strategy
16.1.4. Cosmecca Korea, Co. Ltd.
16.1.4.1. Overview
16.1.4.2. Product Portfolio
16.1.4.3. Profitability by Market Segments
16.1.4.4. Sales Footprint
16.1.4.5. Strategy Overview
16.1.4.5.1. Marketing Strategy
16.1.4.5.2. Product Strategy
16.1.4.5.3. Channel Strategy
16.1.5. KBL Cosmetics
16.1.5.1. Overview
16.1.5.2. Product Portfolio
16.1.5.3. Profitability by Market Segments
16.1.5.4. Sales Footprint
16.1.5.5. Strategy Overview
16.1.5.5.1. Marketing Strategy
16.1.5.5.2. Product Strategy
16.1.5.5.3. Channel Strategy
16.1.6. Black Bird Skincare
16.1.6.1. Overview
16.1.6.2. Product Portfolio
16.1.6.3. Profitability by Market Segments
16.1.6.4. Sales Footprint
16.1.6.5. Strategy Overview
16.1.6.5.1. Marketing Strategy
16.1.6.5.2. Product Strategy
16.1.6.5.3. Channel Strategy
16.1.7. Lotus Herbals Limited
16.1.7.1. Overview
16.1.7.2. Product Portfolio
16.1.7.3. Profitability by Market Segments
16.1.7.4. Sales Footprint
16.1.7.5. Strategy Overview
16.1.7.5.1. Marketing Strategy
16.1.7.5.2. Product Strategy
16.1.7.5.3. Channel Strategy
16.1.8. L'Oréal S.A.
16.1.8.1. Overview
16.1.8.2. Product Portfolio
16.1.8.3. Profitability by Market Segments
16.1.8.4. Sales Footprint
16.1.8.5. Strategy Overview
16.1.8.5.1. Marketing Strategy
16.1.8.5.2. Product Strategy
16.1.8.5.3. Channel Strategy
16.1.9. Kao Corporation
16.1.9.1. Overview
16.1.9.2. Product Portfolio
16.1.9.3. Profitability by Market Segments
16.1.9.4. Sales Footprint
16.1.9.5. Strategy Overview
16.1.9.5.1. Marketing Strategy
16.1.9.5.2. Product Strategy
16.1.9.5.3. Channel Strategy
16.1.10. Coty, Inc.
16.1.10.1. Overview
16.1.10.2. Product Portfolio
16.1.10.3. Profitability by Market Segments
16.1.10.4. Sales Footprint
16.1.10.5. Strategy Overview
16.1.10.5.1. Marketing Strategy
16.1.10.5.2. Product Strategy
16.1.10.5.3. Channel Strategy
16.1.11. Colgate Palmolive Company
16.1.11.1. Overview
16.1.11.2. Product Portfolio
16.1.11.3. Profitability by Market Segments
16.1.11.4. Sales Footprint
16.1.11.5. Strategy Overview
16.1.11.5.1. Marketing Strategy
16.1.11.5.2. Product Strategy
16.1.11.5.3. Channel Strategy
16.1.12. Clarins Group
16.1.12.1. Overview
16.1.12.2. Product Portfolio
16.1.12.3. Profitability by Market Segments
16.1.12.4. Sales Footprint
16.1.12.5. Strategy Overview
16.1.12.5.1. Marketing Strategy
16.1.12.5.2. Product Strategy
16.1.12.5.3. Channel Strategy
16.1.13. Biomod Concepts, Inc.
16.1.13.1. Overview
16.1.13.2. Product Portfolio
16.1.13.3. Profitability by Market Segments
16.1.13.4. Sales Footprint
16.1.13.5. Strategy Overview
16.1.13.5.1. Marketing Strategy
16.1.13.5.2. Product Strategy
16.1.13.5.3. Channel Strategy
17. Assumptions & Acronyms Used18. Research Methodology
