Republic of Korea: Shaving Preparations Market 2024

Shaving Preparations Market Size in Republic of Korea

In 2021, the South Korean shaving preparations market decreased by -6.2% to $X, falling for the third consecutive year after seven years of growth. In general, the total consumption indicated a remarkable increase from 2012 to 2021: its value increased at an average annual rate of +5.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -28.0% against 2018 indices. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2021, consumption stood at a somewhat lower figure.

Shaving Preparations Exports

Exports from Republic of Korea

In 2021, approx. X tons of pre-shave, shaving and after-shave preparations (excluding soap in blocks) were exported from South Korea; increasing by 51% compared with 2020. Over the period under review, exports showed a temperate expansion. The growth pace was the most rapid in 2017 when exports increased by 154% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

In value terms, shaving preparations exports totaled $X in 2021. In general, exports saw resilient growth. The pace of growth was the most pronounced in 2017 when exports increased by 168% against the previous year. Over the period under review, the exports attained the peak figure in 2021 and are likely to see steady growth in the near future.

Exports by Country

Singapore (X tons) was the main destination for shaving preparations exports from South Korea, with a 28% share of total exports. Moreover, shaving preparations exports to Singapore exceeded the volume sent to the second major destination, the United States (X tons), fourfold. Canada (X tons) ranked third in terms of total exports with a 6.7% share.

From 2012 to 2021, the average annual growth rate of volume to Singapore totaled +6.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+13.9% per year) and Canada (+36.9% per year).

In value terms, the largest markets for shaving preparations exported from South Korea were Singapore ($X), the United States ($X) and Russia ($X), with a combined 42% share of total exports.

Russia, with a CAGR of +259.3%, saw the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average shaving preparations export price stood at $X per ton in 2021, shrinking by -25% against the previous year. Overall, the export price, however, posted a buoyant expansion. The growth pace was the most rapid in 2020 an increase of 125%. As a result, the export price reached the peak level of $X per ton, and then fell markedly in the following year.

Prices varied noticeably country of destination: the country with the highest price was Russia ($X per ton), while the average price for exports to Chile ($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 the United States (+22.2%), while the prices for the other major destinations experienced more modest paces of growth.

Shaving Preparations Imports

Imports into Republic of Korea

In 2021, overseas purchases of pre-shave, shaving and after-shave preparations (excluding soap in blocks) decreased by -13.2% to X tons, falling for the third consecutive year after seven years of growth. Over the period under review, imports, however, continue to indicate a buoyant increase. The most prominent rate of growth was recorded in 2013 when imports increased by 50% against the previous year. Over the period under review, imports hit record highs at X tons in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, shaving preparations imports totaled $X in 2021. The total import value increased at an average annual rate of +3.9% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2013 with an increase of 30%. Over the period under review, imports attained the peak figure at $X in 2017; however, from 2018 to 2021, imports remained at a lower figure.

Imports by Country

Germany (X tons), the United States (X tons) and Australia (X tons) were the main suppliers of shaving preparations imports to South Korea, with a combined 43% share of total imports. Thailand, Singapore, China, Turkey and France lagged somewhat behind, together accounting for a further 20%.

From 2012 to 2021, the biggest increases were recorded for Turkey (with a CAGR of +209.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Germany ($X) and Australia ($X) were the largest shaving preparations suppliers to South Korea, with a combined 40% share of total imports. Singapore, Thailand, France, China and Turkey lagged somewhat behind, together comprising a further 23%.

Turkey, with a CAGR of +202.8%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average shaving preparations import price stood at $X per ton in 2021, rising by 15% against the previous year. Overall, the import price, however, continues to indicate a pronounced setback. The pace of growth appeared the most rapid in 2019 when the average import price increased by 24% against the previous year. Over the period under review, average import prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by France (+11.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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