They outspend the rest of the world on male skin care, and are increasingly using hair care and colour cosmetics, but why are grooming products so important to South Korean men?
South Korean men are the biggest preeners on the planet, latest figures reveal. Sales of men’s skin care products grew 86% in the five years to 2015 – that’s $39 for every South Korean man each year.
Source: Euromonitor International
It may not sound much but, according to Euromonitor International, South Korean men have outspent the rest of the world, especially in comparison with Australian men, who spend on average $3.30 each.
The overall South Korean beauty industry is now estimated to be worth about $10bn – 10% of which is now coming from male products. Indeed, Euromonitor places the retail value of the men’s grooming market in South Korea in 2015 at US$1.096bn, which represents an impressive 6.1% rise on the previous year.
Men are continuing to focus on facial skin care and product launches are also skewed towards the category. Men’s skin care maintained its position as the most ...
This is a small extract of the full article which is available ONLY to premium content subscribers. Subscribers sign-in (top right) to read the article.
Subscribe now to premium content on Cosmetics Business