Market research on consumer products, commercial industries, demo...
Market research on consumer products, commercial industries, demographics trends and consumer lifestyles in South Korea.
Paediatric vitamins and dietary supplements remains by far the largest value category within paediatric consumer health. Despite a decline in retail volume sales in 2023, heightened health awareness since the pandemic and parents’ approach to…
Personal luxury retail value sales increased by 12% in 2023 to amount to KRW22.0 trillion, supported by growth recorded by leading brand providers, such as Louis Vuitton Korea Ltd and Richemont Korea Ltd. 2023 sales growth was fuelled by individuals…
Value sales of premium and luxury cars rose by 23% to total KRW28.0 trillion in 2023, as more higher-income consumers in South Korea opted to buy a new luxury vehicle despite macroeconomic headwinds. Wealth determines the degree of demand that exists…
The lingering impact of the pandemic, greater exposure to digital screens, and generally fast-paced lifestyles are continuing to affect the local population’s ability to relax and sleep, with heightened stress known to be a major factor impacting…
As local consumers continue to enjoy greater freedom outside of the home and participate in outdoor activities such as running or cycling, there is increasing demand for sports nutrition products which can be consumed on the go. This is driving the…
Despite some stabilising of retail volume growth in 2023, overall demand for vitamins in South Korea remains higher than pre-pandemic levels. Single vitamins, particularly vitamin C, have been popular since the emergence of COVID-19 as local…
Weight management and wellbeing is recording another positive performance in 2023 as local consumers continue on their weight loss journeys following the home seclusion trend of the pandemic, which resulted in sedentary lifestyles and weight gain for…
The smaller value category of sticking plasters/adhesive bandages continues to see further product differentiation and development through material diversification to attract consumers with innovative formats. For instance, JW Pharmaceutical has been…
In 2022, construction grappled with rising interest rates and living costs, affecting residential, industrial and commercial sectors. Government commitments to infrastructure drove demand. Despite cost surges, solid demand allowed passing expenses to…
In 2023, the government reformed its electric vehicles subsidy plan, considering factors like price, vehicle performance, warranty infrastructure and battery energy. This is set to boost the electric vehicle market, especially favouring local brands.…