Republic of Korea: Market for Hair Lotion and Preparation 2024

Market Size for Hair Lotion and Preparation in Republic of Korea

The South Korean hair lotion and preparation market was estimated at $X in 2021, with an increase of 9.2% against the previous year. In general, consumption continues to indicate a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2015 to 2021, the growth of the market failed to regain momentum.

Production of Hair Lotion and Preparation in Republic of Korea

In value terms, hair lotion and preparation production rose slightly to $X in 2021 estimated in export price. In general, production continues to indicate prominent growth. The most prominent rate of growth was recorded in 2019 when the production volume increased by 118% against the previous year. As a result, production attained the peak level of $X. From 2020 to 2021, production growth remained at a somewhat lower figure.

Exports of Hair Lotion and Preparation

Exports from Republic of Korea

In 2021, approx. X tons of hair lotion and preparation were exported from South Korea; with an increase of 20% compared with the year before. Overall, exports enjoyed a prominent increase. The pace of growth appeared the most rapid in 2015 when exports increased by 38%. The exports peaked in 2021 and are expected to retain growth in the immediate term.

In value terms, hair lotion and preparation exports totaled $X in 2021. Over the period under review, exports posted a strong increase. The pace of growth was the most pronounced in 2015 when exports increased by 72%. Over the period under review, the exports attained the peak figure in 2021 and are expected to retain growth in years to come.

Exports by Country

China (X tons), the United States (X tons) and Japan (X tons) were the main destinations of hair lotion and preparation exports from South Korea, with a combined 51% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by China (with a CAGR of +24.2%), while the other leaders experienced more modest paces of growth.

In value terms, China ($X) remains the key foreign market for hair lotion and preparation exports from South Korea, comprising 33% of total exports. The second position in the ranking was held by the United States ($X), with a 13% share of total exports. It was followed by Japan, with a 12% share.

From 2012 to 2021, the average annual growth rate of value to China amounted to +33.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+11.5% per year) and Japan (+19.4% per year).

Export Prices by Country

In 2021, the average hair lotion and preparation export price amounted to $X per ton, waning by -9.9% against the previous year. In general, export price indicated a noticeable expansion from 2012 to 2021: its price increased at an average annual rate of +4.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2015 an increase of 25% against the previous year. The export price peaked at $X per ton in 2020, and then contracted in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Japan ($X per ton), while the average price for exports to Kazakhstan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Japan (+10.3%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Hair Lotion and Preparation

Imports into Republic of Korea

In 2021, approx. X tons of hair lotion and preparation were imported into South Korea; increasing by 10% on 2020. Overall, total imports indicated a strong increase from 2012 to 2021: its volume increased at an average annual rate of +9.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +12.1% against 2019 indices. The most prominent rate of growth was recorded in 2013 with an increase of 53%. Over the period under review, imports attained the maximum at X tons in 2018; however, from 2019 to 2021, imports failed to regain momentum.

In value terms, hair lotion and preparation imports soared to $X in 2021. The total import value increased at an average annual rate of +4.7% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Thailand (X tons), Japan (X tons) and the United States (X tons) were the main suppliers of hair lotion and preparation imports to South Korea, with a combined 42% share of total imports. These countries were followed by China, Spain, Italy, India, France and Indonesia, which together accounted for a further 19%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by India (with a CAGR of +19.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest hair lotion and preparation suppliers to South Korea were Thailand ($X), the United States ($X) and Japan ($X), together comprising 51% of total imports. China, France, Italy, India, Spain and Indonesia lagged somewhat behind, together comprising a further 18%.

China, with a CAGR of +14.4%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average hair lotion and preparation import price amounted to $X per ton, with an increase of 6.5% against the previous year. In general, the import price, however, recorded a perceptible decrease. The most prominent rate of growth was recorded in 2019 when the average import price increased by 23%. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was France ($X per ton), while the price for Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (+1.7%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform