Market Insights Consumer Beauty & Personal Care

Fragrances - South Korea

South Korea

In 2024, the Fragrances market in South Korea is projected to generate revenue of US$0.45bn.
This market segment is expected to grow annually at a compound annual growth rate (CAGR) of 2.13% from 2024 to 2029.
When compared to other countries, in the United States leads in terms of revenue generation, with an estimated revenue of US$8,862m in 2024.
Considering the population figures, the per person revenue in the Fragrances market is US$8.79 in 2024.
Furthermore, by 2024, 0 of the sales in the Fragrances market will be attributed to 0.
South Korea's fragrance market is experiencing a surge in demand for unique and innovative scents inspired by traditional Korean ingredients and cultural heritage.

Key regions: Malaysia, Worldwide, United Arab Emirates, United Kingdom, Indonesia

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Data coverage:

The data encompasses B2C enterprises. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations such as population, GDP per capita, and Human Development Index. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, multiple forecasting techniques based on different forecasting methods, such as Autoregressive Integrated Moving Average (ARIMA) and exponential trend smoothing, can provide the most accurate forecasts.

Additional notes:

The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level.