Our research indicates that the total industry value of anti-wrinkle products sold in Korea as of 2023 is likely to be around USD 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 USD 867.3 million by the end of 2033.
| Attributes | Details |
|---|---|
| Industry size of Korea in 2023 | USD 494.2 million |
| Expected Industry Size of Korea by 2033 | USD 867.3 million |
| Forecasted CAGR between 2023 to 2033 | 5.80% |
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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.
Principal Consultant
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% |
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% |
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
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| Attribute | Details |
|---|---|
| Estimated Industry Size in 2023 | USD 494.2 million |
| Projected Industry Size by 2033 | USD 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 |
The anticipated CAGR for the anti-wrinkle product industry in Korea through 2033 is 5.80%.
The demand for anti-wrinkle product in Korea is expected to exceed USD 867.3 million by 2033.
Anti-wrinkle product suppliers are developing new product range frequently to boost sales.
The creams and moisturizers segment is at the forefront of the industry in Korea, accounting for 60.3% of the revenue share in 2023.
The pharmacies segment currently holds the lead in Korea, comprising 15.0% of total sales.
1. Executive Summary 2. Market Overview 3. Market Background 4. Industry Analysis and Outlook 2018 to 2022 and Forecast, 2023 to 2033 5. Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Product Type 5.1. Creams & Moisturizers 5.2. Cleansers 5.3. Other Products 6. Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Nature 6.1. Natural/Herbal 6.2. Synthetic 6.3. Organic 7. Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By End-User 7.1. Men 7.2. Women 8. Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Sales Channel 8.1. Pharmacies 8.2. Specialty Outlets 8.3. Supermarkets/Hypermarkets 8.4. Convenience Stores 8.5. Beauty Stores 8.6. E-Retailers 8.7. Others 9. Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Region 9.1. South Gyeongsang 9.2. North Jeolla 9.3. South Jeolla 9.4. Jeju 9.5. Rest of Korea 10. South Gyeongsang Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033 11. North Jeolla Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033 12. South Jeolla Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033 13. Jeju Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033 14. Rest of Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033 15. Market Structure Analysis 16. Competition Analysis 16.1. Nature Republic 16.2. COSMAX INC. 16.3. Kolmar Korea 16.4. Cosmecca Korea, Co. Ltd. 16.5. KBL Cosmetics 16.6. Black Bird Skincare 16.7. Lotus Herbals Limited 16.8. L'Oréal S.A. 16.9. Kao Corporation 16.10. Coty, Inc. 16.11. Colgate Palmolive Company 16.12. Clarins Group 16.13. Biomod Concepts, Inc. 17. Assumptions & Acronyms Used 18. Research Methodology
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Demand and Trend Analysis of Anti-wrinkle Product in Korea
