South Korea Deodorant Market Size, Share, and COVID-19 Impact Analysis, By Type (Spray, Roll-On, Stick, and Others), By Packaging Material (Metal, Plastic, and Others), By End-User (Men and Women), and South Korea Deodorant Market Insights Forecasts 2023 – 2033

Industry: Consumer Goods

RELEASE DATE Jan 2024
REPORT ID SI3486
PAGES 200
REPORT FORMAT PathSoft

South Korea Deodorant Market Insights Forecasts to 2033s

  • The South Korea Deodorant Market Size was valued at USD 37.42 Million in 2023
  • The Market Size is Growing at a CAGR of 4.81% from 2023 to 2033
  • The South Korea Deodorant Market Size is Expected to Reach USD 59.88 Million by 2033

South Korea Deodorant Market

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The South Korea Deodorant Market Size is Expected to Reach USD 59.88 Million by 2033, at a CAGR of 4.81% during the forecast period 2023 to 2033. 

 

Market Overview

A deodorant is a substance that is applied to the body to prevent body odor caused by the bacterial breakdown of perspiration in the foot, armpits, and groin, as well as in some cases vaginal secretions. Antiperspirants are a subclass of deodorants. Antiperspirants prevent sweating in the human body by blocking the sweat glands. Other types of deodorants allow sweating but prevent bacterial action on body sweat, so human sweat only has an odor when bacteria decompose it. Changing lifestyles and increased product availability are two factors driving sales in South Korea. Furthermore, rising hygiene awareness is driven by consumer awareness and socialization. Smelling good is indicative of good hygiene and etiquette. Consumers use deodorants regularly to maintain their hygiene, resulting in increased usage. As a consequence, companies are introducing low-cost, high-performance products for the middle class in South Korea. Women in South Korea did not have enough options to try out the various fragrances and deodorants assigned to them. The increase in population and adaptation of taste and preferences in women are forcing deodorant companies to think from new perspectives, and the companies introduced pocket-sized deodorant packages that were both compact and reasonably priced. The new technology also improved fragrance quality with a long-lasting impact, allowing consumers to stay fresh even on humid days.

 

Report Coverage

This research report categorizes the market for the South Korea deodorant market based on various segments and regions forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the South Korea deodorant market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the South Korea deodorant market.                 

 

South Korea Deodorant Market Report Coverage

Report CoverageDetails
Base Year:2023
Market Size in 2023:USD 37.42 Million
Forecast Period:2023-2033
Forecast Period 2023-2033 CAGR:4.81
Historical Data for:2019-2022
No. of Pages:200
Tables, Charts & Figures:110
Segments covered:By Type, By Packaging Material, By End- User
Companies Covered: GBSA, ETUDE CORPORATION, DESIZON CO., LTD, C&TECH CORPORATION, APC TECH CO., LTD., EAUCLAIRE, MPACPLUS and Other Key Vendors.
Pitfalls & Challenges:COVID-19 Empact,Challenges, Future, Growth, & Analysis

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Driving Factors

The economy's growth, combined with an increase in the number of dual-income families, resulted in lifestyle changes and an improvement in the standard of living. These factors are expected to help drive market growth during the forecast period. Furthermore, increasing promotional campaigns for cosmetic and fragrance products through television, radio, print media, and social media are playing an important role in raising awareness of the product's benefits. Many manufacturers are focusing on developing better and more innovative products that can meet the needs of the majority of people, thereby expanding their customer base. The launch of aluminum-free deodorants, as well as the growing demand for natural ingredients deodorants, will increase demand because they help to prevent the absorption of toxic chemicals into the body. Furthermore, the introduction of deodorant wipes in the form of wiping papers, which are lightweight, simple, and easy to use, is helping to drive the growth of this industry.

 

Restraining Factors

Most deodorants contain a variety of chemicals, including aluminum compounds, cyclomethycaine, and others. These chemicals have the potential to cause allergic reactions in sensitive skin, which limits market growth to some extent. Furthermore, excessive use of deodorants containing ethanol causes dry skin. Furthermore, dryness may cause itchiness, which can lead to skin irritation or swelling.

 

Market Segment

  • In 2023, the spray segment accounted for the largest revenue share over the forecast period.

Based on type, the South Korea deodorant market is segmented into spray, roll-on, stick, and others. Among these, the spray segment has the largest revenue share over the forecast period. The spray segment is projected to dominate the South Korea market by product type due to increased consumer demand for products with features such as instant drying, which helps to prevent stains on clothes. Furthermore, spray deodorant is not as sticky or wet as other products, so the segment is gaining traction. Furthermore, spray deodorant leaves no residue or flake on the skin, which attracts more customers to the product.

 

  • In 2023, the plastic segment is witnessing significant growth over the forecast period.

Based on packaging material, the South Korea deodorant market is segmented into metal, plastic, and others. Among these, the plastic segment is witnessing significant growth over the forecast period. Plastic containers are considered to be durable, which means they can withstand a shock or a drop when compared to other materials like glass or paper. This quality serves as a growing factor, increasing demand for the product. Furthermore, because of its lower cost relative to other raw materials, it is frequently preferred over other types of materials. Furthermore, plastic deodorant is lightweight and easy to carry, making it ideal for travel.

 

  • In 2023, the men segment accounted for the largest revenue share over the forecast period.  

Based on end-user, the South Korea deodorant market is segmented into men and women. Among these, the men segment has the largest revenue share over the forecast period. The men segment is expected to be the largest market shareholder due to the greater number of men participating in sports such as basketball, football, and others. These athletes are increasingly inclined to use deodorants to avoid the unpleasant odor of sweating.  Furthermore, men are expected to work in more physically demanding industries such as mining, construction, manufacturing, and others. This factor is expected to boost the segment's growth in the coming years.

 

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the South Korea deodorant market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

 

List of Key Companies

  • GBSA
  • ETUDE CORPORATION
  • DESIZON CO., LTD
  • C&TECH CORPORATION
  • APC TECH CO., LTD.
  • EAUCLAIRE
  • MPACPLUS
  • Others

 

Key Target Audience

  • Market Players
  • Investors
  • End-users
  • Government Authorities 
  • Consulting and Research Firm
  • Venture capitalists
  • Value-Added Resellers (VARs)

 

Market Segment

This study forecasts revenue at regional, and country levels from 2022 to 2033. Spherical Insights has segmented the South Korea Deodorant Market based on the below-mentioned segments:         

 

South Korea Deodorant Market, By Type

  • Spray
  • Roll-On
  • Stick
  • Others

 

South Korea Deodorant Market, By Packaging Material

  • Metal
  • Plastic
  • Others

 

South Korea Deodorant Market, By End User

  • Male
  • Female

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