South Korea Anti-Aging Market Overview, 2028

South Korea Anti-Aging Market Overview, 2028

The anti-ageing market in South Korea is dominated by skincare products such as serums, creams, and masks. This is due to the cultural emphasis on achieving and maintaining clear and radiant skin. In addition to skincare products, South Korea is also home to many anti-ageing clinics and cosmetic surgery centres. These offer a wide range of treatments, from Botox and fillers to more invasive procedures like facelifts and fat transfers. South Korean consumers are very knowledgeable about anti-ageing products and treatments and are often early adopters of new technologies and ingredients. This has led to a highly competitive market, with many brands constantly innovating and improving their offerings. One popular trend in the South Korean anti-ageing market is the use of ""hanbang"" ingredients, which are traditional Korean herbs and plants. These are believed to have anti-inflammatory and anti-ageing properties and are often incorporated into skincare products. South Korea is often referred to as the ""global capital of plastic surgery,"" with a high demand for both surgical and non-surgical anti-ageing treatments. South Korean consumers are highly educated about skin care and anti-ageing products and are known for their 10-step skincare routines.

According to the research report ""South Korea Anti-Ageing Market Overview, 2028,"" published by Bonafide Research, The South Korea Anti-Aging market is projected to reach market size of above USD 2 Billion by 2028. Korea has experienced rapid ageing, and the forecasts predict that Korea will soon be one of the most aged countries in the world, so population ageing is often referred to as a major cause for the ever-growing anti-ageing in Korea. South Korea is known for its innovative skincare devices, such as LED light therapy devices, micro-needling devices, and ultrasound devices that enhance the effectiveness of skincare products. Furthermore, South Korean scientists have been researching the potential of stem cell therapy for anti-ageing. Stem cell therapy involves using the patient's own stem cells to regenerate damaged tissues and reverse the signs of ageing. Based on the product types, they include anti-wrinkle, hair colour, ultraviolet (UV) absorption, anti-stretch mark, and others (retinoids, peptides, antioxidants, and exfoliants). In South Korea, anti-wrinkle products have the highest market share in the country. Snail secretion filtrate is a popular ingredient in Korean skincare products, known for its anti-wrinkle and moisturising properties. Retinol is a form of vitamin A and is a popular ingredient in anti-wrinkle creams in South Korea. It helps to reduce the appearance of fine lines and wrinkles by promoting collagen production and increasing cell turnover. Based on the products distribution channel includes the Specialty Store, Pharmacy & Drug Stores, Hypermarket & Supermarket, Online and others. In South Korea the Speciality stores is leading the South Korea market.
Adult acne therapy holds the highest market share in the country among anti-pigmentation, hair restoration, breast augmentation, liposuction, chemical peels, and others (radiofrequency treatment). Acne is not just a problem for teenagers; it also affects adults, especially women, which is one of the main reasons. There is a strong cultural emphasis on having flawless skin in South Korea, and this applies to adults as well. Furthermore, numerous enemies of maturing skin likewise target skin breakout, as it very well may be an indication of maturing skin. Consequently, grown-up skin break-out treatment is viewed as a significant part of hostile to maturing treatment in South Korea, and this has prompted the development of this market. In particular, Korea's facial liposuction technology used to create a V-shaped facial line without reshaping the bones is unmatched. It’s no surprise that the country recorded the largest number of facial liposuction cases in the world. Based on the treatment distribution channel includes the Rejuvenation Centers, Dermatology Clinics, Hospitals, Pharmacies, Drugstores and Others (Beauty salons, Wellness centers, Plastic surgery clinics). In South Korea the Rejuvenation Centers are leading the treatment market. Some of the top rejuvenation center is JW Plastic Surgery, Banobagi Plastic Surgery, Dream Medical Group and ID Hospital.

Based on the demographic segments, these include generation X, generation Y, generation Z, and baby boomers. In South Korea, Generation X is leading the market. The Generation X population is more aware of the benefits of anti-ageing treatments, and they are willing to invest in products and services to maintain their youthful looks. This demographic group has a higher disposable income and can afford to spend more on anti-ageing products and services. In South Korea, where there is a lot of competition in the job market, looking young and attractive is seen as an advantage. This could be driving the demand for anti-ageing treatments among the Generation X population. The South Korean government has taken various initiatives to promote the anti-aging industry in the country. One such initiative is the ""Bio-Vision 2016"" project, which aims to promote the development of the biotechnology industry, including anti-aging research and development. The government has also established the Korea Health Industry Development Institute (KHIDI) to promote the development of the healthcare industry, including the anti-aging sector. In addition, the Ministry of Food and Drug Safety (MFDS) is responsible for regulating and approving anti-aging products in South Korea. The MFDS has implemented strict regulations to ensure the safety and efficacy of these products. The government also offers tax incentives and subsidies to companies involved in anti-aging research and development to encourage innovation in the industry. In South Korea the target group includes the Men and Women, in country the women is leading the anti-aging market.

Considered in this report

• Geography: South Korea
• Historic year: 2017
• Base year: 2022
• Estimated year: 2023
• Forecast year: 2028

Aspects covered in this report

• South Korea Anti-Ageing Market with its value and forecast along with its segments
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

By Products Types

• Anti-Wrinkle
• Hair Color
• Ultraviolet (UV) Absorption
• Anti-Stretch Mark

By products distribution channel

• Hypermarket & Supermarket
• Pharmacy & Drug Stores
• Specialty Store
• Online
• Others

By Treatment

• Hair Restoration
• Anti Pigmentation
• Adult Acne Therapy
• Breast Augmentation
• Liposuction
• Chemical Peel

By Treatment Distribution channel

• Hospitals
• Pharmacies
• Drugstores
• Dermatology Clinics
• Rejuvenation Centers
• Others

By Target Group

• Men
• Women

The Approach of the Report:

This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and list out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, and annual reports of companies, analyzing the government-generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers into regional aspects, tier aspects, age groups, and gender. Once we have primary data with us we started verifying the details obtained from secondary sources.

Intended audience

This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to the Office Chair industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.