Boston, MA -- (ReleaseWire) -- 07/15/2014 -- In fragrances, the popularity of super premium brands continued in 2013 as well as 2012. Rather than designers' brands which had been popular during the review period, new brands attracted consumers. In 2013, Jo Malone, Diptyque, Annick Goutal, Creed and Acqua Di Prama appeared as hot brands in fragrances; meanwhile, brands that were steady sellers over the review period such as Anna Sui, Elizabeth Arden, Bvlgari, Ralph Lauren and Christian Diro lost value share. Due to the changing popular brands in fragrances, premium fragrances recorded more than 3% value growth in 2013.
In 2013, LG Household and Health Care led fragrances with 5% value share, overtaking Etude Corp. The company's sales within fragrances increased by almost Won5 billion in 2013, as the company has strengthened its presence in fragrances to expand its product portfolio in overall beauty and personal care. As a result, the company's ranking dramatically increased from 10th in 2009 to first in 2013.
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Fragrances is expected to increase by a CAGR of 6% in constant value terms over the forecast period. Premium fragrances will show a CAGR of almost 7% in constant value terms thanks to the continually strong performance of premium men's fragrances. Premium women's fragrances is also expected to record a CAGR of more than 6% in constant value terms. On the other hand, mass fragrances will continue to show a negative growth rate over the forecast period. Mass women's fragrances is predicted to decline more slowly than men's fragrances based on wide distribution of the Espoir brand through Aritaum (the leading beauty specialist retailer) and steady sales of shower cologne.
Discover the latest market trends and uncover sources of future market growth for the Fragrances industry in South Korea with research from Euromonitor's team of in-country analysts.
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The Fragrances in South Korea market research report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
- Historic volumes and values, company and brand market shares
- Five year forecasts of market trends and market growth
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Our market research reports answer questions such as:
- What is the market size of Fragrances in South Korea?
- What are the major brands in South Korea?
- What pricing movements are seen across premium and mass fragrances?
- What are the key product development trends?
- How are sales of unisex fragrances performing?
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Product coverage: Mass Fragrances, Premium Fragrances.
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