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SOUTH KOREA ANTI-ACNE DERMAL PATCH MARKET FORECAST 2023-2030

SCOPE OF THE REPORT

South Korea Anti-acne Dermal Patch Market by Ingredient Type (Chemical-based, Herbal-based) Market by Age Group (10 to 17, 18 to 44, 45 to 64, Above 65) Market by Distribution Channel (Pharmacies & Drug Store, E-commerce Platforms, Retail Stores)


MARKET OVERVIEW

The South Korea anti-acne dermal patch market is predicted to record a CAGR of 7.42% during the forecast period, 2023-2030, and is expected to reach a revenue of $57.41 million by 2030.

The anti-acne dermal patches enhance the absorption of the active ingredients into the skin, thereby minimizing redness, bumps, and pain. The increasing incidences of skin conditions like severe acne are estimated to drive the South Korea anti-acne dermal patch market growth. 

Further, teenagers and young adults are increasingly preferring anti-acne dermal patches due to their marketing on a mass scale in social media. In addition, the South Korean market is projected to be a key revenue-generating center for anti-acne dermal patches. Besides, the booming Korean skin care movement and significant growth rates are accredited to shifting lifestyles, growing disease awareness, and surging cosmetic expenditure. Moreover, the increasing focus on physical appearance due to varied factors is set to facilitate growth opportunities.

South Korea Anti-Acne Dermal Patch Market

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The segmentation analysis of the South Korea anti-acne dermal patch market includes distribution channel, age group, and ingredient type. The distribution channel includes retail stores, e-commerce platforms, and pharmacies & drug stores. 

The pharmacies & drug stores segment growth is attributed to the surging use of over-the-counter (OTC) medications for acne self-management. Prescription drugs are used to treat acne. Some examples of over-the-counter (OTC) and pharmaceutical drugs include retinol, hyaluronic acid, antibiotics, Accutane, retinoic acid, etc. 

The e-commerce platform segment expansion is majorly accredited to COVID-19. Accordingly, several prominent companies are adopting aggressive marketing strategies to expand their business in this segment. For instance, Starface adopted various marketing strategies to capture the online market for anti-acne dermal patches, like taking a stand on social justice issues. The Gen Z population opts for businesses that voice social justice concerns. The company has taken a prominent role in promoting the rights of LGBTQ+ and other marginalized communities. For instance, in August 2021, the company raised money for ‘Black Women in Motion.’ 

The other strategies adopted by brands to gain traction in this segment include product personification, creating a sense of community, social media giveaways, and influencer collaborations through different media platforms. Also, offering discounts through SMS marketing. 

With regard to the retail segment, the projected growth rate is moderate. There are fewer deals and product offers in retail establishments as compared to other distribution channels. This limits product exposure and the consumer’s ability to buy from merchants. In addition, the pandemic restricted the expansion of this sector. However, the situation has improved due to foreign direct investments and cooperation from retail technology businesses. FDI in retail implies a wider range of products, lower prices, and access to global brands. 

Some of the key firms operating in the South Korea anti-acne dermal patch market are Peach & Lily, Sephora, Hero Cosmetics, COSRX, etc.

COSRX is a Korean cosmetics company that makes products for a variety of skin conditions, including open pores, textured skin, nourishment, anti-aging, blemishes, and acne. It owns eight product lines, PURE FIT, REAL FIT, BALANCIUM, SHIELD FIT, AC COLLECTION, FULL FIT, HYDRIUM, and ONE STEP. The company retails, wholesales, and manufactures skin care and cosmetic products in Korea. It ships its products internationally to Canada and the United States and is expanding its market to other countries, with headquarters in Seoul-t’ukpyolsi, South Korea.

The key products of the company include Acne Pimple MASTER Patch and AC Collection Acne Patch. The former is a hydrocolloid dressing patch that extracts impurities and fastens healing. The latter is a highly adhesive and oval-shaped hydrocolloid acne patch used to cover adjacent acne spots together simultaneously.

REPORT SYNOPSIS

REPORT SCOPEDETAILS
Market Forecast Years2023-2030
Base Year2022
Market Historical Years2018-2022
Forecast UnitsRevenue ($ Million)
Segments Analyzed
Distribution Channel, Age Group, Ingredient Type
Countries AnalyzedSouth Korea
Companies Analyzed3M, COSRX, Hero Cosmetics, Peach & Lily, Sephora

TABLE OF CONTENT

  1. RESEARCH SCOPE & METHODOLOGY
    1. STUDY OBJECTIVES
    2. METHODOLOGY
    3. ASSUMPTIONS & LIMITATIONS
  2. EXECUTIVE SUMMARY
    1. MARKET SIZE & ESTIMATES
    2. COUNTRY SNAPSHOT
    3. COUNTRY ANALYSIS
    4. KEY DRIVERS
    5. KEY CHALLENGES
  3. KEY ANALYTICS
    1. IMPACT OF COVID-19 ON ANTI-ACNE DERMAL PATCH MARKET
    2. KEY MARKET TRENDS
    3. PORTER’S FIVE FORCES ANALYSIS
      1. BUYERS POWER
      2. SUPPLIERS POWER
      3. SUBSTITUTION
      4. NEW ENTRANTS
      5. INDUSTRY RIVALRY
    4. GROWTH PROSPECT MAPPING
    5. MARKET MATURITY ANALYSIS
    6. MARKET CONCENTRATION ANALYSIS
    7. VALUE CHAIN ANALYSIS
      1. RAW MATERIALS
      2. MANUFACTURERS
      3. DISTRIBUTORS
      4. END-USER
    8. KEY BUYING CRITERIA
      1. SIZE AND COST
      2. SKIN TONE
      3. INGREDIENTS
      4. PRODUCT FEATURES
  4. MARKET BY INGREDIENT TYPE
    1. CHEMICAL-BASED
    2. HERBAL-BASED
  5. MARKET BY AGE GROUP
    1. 10 TO 17
    2. 18 TO 44
    3. 45 TO 64
    4. ABOVE 65
  6. MARKET BY DISTRIBUTION CHANNEL
    1. PHARMACIES & DRUG STORE
    2. E-COMMERCE PLATFORMS
    3. RETAIL STORES
  7. COMPETITIVE LANDSCAPE
    1. KEY STRATEGIC DEVELOPMENTS
      1. ACQUISITIONS
      2. PRODUCT LAUNCHES & DEVELOPMENTS
      3. BUSINESS EXPANSIONS 
    2. COMPANY PROFILES
      1. 3M
        1. COMPANY OVERVIEW
        2. PRODUCTS
        3. STRENGTHS & CHALLENGES
      2. COSRX
        1. COMPANY OVERVIEW
        2. PRODUCTS / SERVICES LIST
        3. STRENGTHS & CHALLENGES
      3. HERO COSMETICS
        1. COMPANY OVERVIEW
        2. PRODUCTS / SERVICES LIST
        3. STRENGTHS & CHALLENGES
      4. PEACH & LILY
        1. COMPANY OVERVIEW
        2. PRODUCTS / SERVICES LIST
        3. STRENGTHS & CHALLENGES
      5. SEPHORA
        1. COMPANY OVERVIEW
        2. PRODUCTS / SERVICES LIST
        3. STRENGTHS & CHALLENGES

LIST OF TABLES

TABLE 1: MARKET SNAPSHOT – ANTI-ACNE DERMAL PATCH

TABLE 2: SOUTH KOREA ANTI-ACNE DERMAL PATCH MARKET, BY INGREDIENT TYPE, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 3: SOUTH KOREA ANTI-ACNE DERMAL PATCH MARKET, BY INGREDIENT TYPE, FORECAST YEARS, 2023-2030 (IN $ MILLION)

TABLE 4: SOUTH KOREA ANTI-ACNE DERMAL PATCH MARKET, BY AGE GROUP, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 5: SOUTH KOREA ANTI-ACNE DERMAL PATCH MARKET, BY AGE GROUP, FORECAST YEARS, 2023-2030 (IN $ MILLION)

TABLE 6: SOUTH KOREA ANTI-ACNE DERMAL PATCH MARKET, BY DISTRIBUTION CHANNEL, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 7: SOUTH KOREA ANTI-ACNE DERMAL PATCH MARKET, BY DISTRIBUTION CHANNEL, FORECAST YEARS, 2023-2030 (IN $ MILLION)

TABLE 8: LIST OF ACQUISITIONS

TABLE 9: LIST OF PRODUCT LAUNCHES & DEVELOPMENTS

TABLE 10: LIST OF BUSINESS EXPANSIONS

LIST OF FIGURES 

FIGURE 1: KEY MARKET TRENDS

FIGURE 2: PORTER’S FIVE FORCES ANALYSIS

FIGURE 3: GROWTH PROSPECT MAPPING – SOUTH KOREA

FIGURE 4: MARKET MATURITY ANALYSIS

FIGURE 5: MARKET CONCENTRATION ANALYSIS

FIGURE 6: VALUE CHAIN ANALYSIS

FIGURE 7: KEY BUYING CRITERIA

FIGURE 8: SOUTH KOREA ANTI-ACNE DERMAL PATCH MARKET, GROWTH POTENTIAL, BY INGREDIENT TYPE, IN 2022

FIGURE 9: SOUTH KOREA ANTI-ACNE DERMAL PATCH MARKET, BY CHEMICAL-BASED INGREDIENTS, 2023-2030 (IN $ MILLION)

FIGURE 10: SOUTH KOREA ANTI-ACNE DERMAL PATCH MARKET, BY HEBAL-BASED INGREDIENTS, 2023-2030 (IN $ MILLION)

FIGURE 11: SOUTH KOREA ANTI-ACNE DERMAL PATCH MARKET, GROWTH POTENTIAL, BY AGE GROUP, IN 2022

FIGURE 12: SOUTH KOREA ANTI-ACNE DERMAL PATCH MARKET, BY 10 TO 17, 2023-2030 (IN $ MILLION)

FIGURE 13: SOUTH KOREA ANTI-ACNE DERMAL PATCH MARKET, BY 18 TO 44, 2023-2030 (IN $ MILLION)

FIGURE 14: SOUTH KOREA ANTI-ACNE DERMAL PATCH MARKET, BY 45 TO 64, 2023-2030 (IN $ MILLION)

FIGURE 15: SOUTH KOREA ANTI-ACNE DERMAL PATCH MARKET, BY ABOVE 65, 2023-2030 (IN $ MILLION)

FIGURE 16: SOUTH KOREA ANTI-ACNE DERMAL PATCH MARKET, GROWTH POTENTIAL, BY DISTRIBUTION CHANNEL, IN 2022

FIGURE 17: SOUTH KOREA ANTI-ACNE DERMAL PATCH MARKET, BY PHARMACIES & DRUG STORE, 2023-2030 (IN $ MILLION)

FIGURE 18: SOUTH KOREA ANTI-ACNE DERMAL PATCH MARKET, BY E-COMMERCE PLATFORMS, 2023-2030 (IN $ MILLION)

FIGURE 19: SOUTH KOREA ANTI-ACNE DERMAL PATCH MARKET, BY RETAIL STORES, 2023-2030 (IN $ MILLION)

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