Shampoo product are on display at a discount store at Seoul. (Yonhap)
SEOUL, Sept. 21 (Korea Bizwire) — With the number of people losing hair increasing rapidly – particularly among the youth – in China, the nation’s imports of hair loss products from South Korea recently shot up.
According to the Shenyang Office of the Korea Trade-Investment Promotion Agency (KOTRA), China’s imports of hair loss prevention products from South Korea amounted to US$50.2 million last year, up about 60 percent from $29.7 million in 2017.
Among Chinese imports, South Korea took up a share of 14.5 percent, ranking No. 2 behind Japan, which accounted for 51.1 percent last year.
China’s imports of hair loss prevention products have been on an upward trend, rising from $97.7 million in 2015 to $345.5 million in 2019.
This is attributable mainly to the expansion of the market in China where the number of people losing hair is increasing sharply centering on women and young people.
In particular, the size of China’s hair loss prevention shampoo market expanded from 870 million yuan (US$128 million) in 2016 to 1.32 billion yuan in 2019, and is forecast to reach 1.54 billion yuan this year.
According to China’s research company HCR, the share of female consumers in the purchases of hair loss management products was higher than that of male consumers in all age groups.
“(South Korean cosmetics company) Amorepacific’s premium herbal medicinal hair care brand Ryo is enjoying a good response, enough to be ranked as one of the most popular import brands in China.” said an official from a company engaged in distribution of hair loss products in China.
J. S. Shin (js_shin@koreabizwire.com)
