Hair care products from Korea are thriving in China as local consumers invest more in personal care.
AmorePacific’s hair care brand Ryo ranked first in growth percentage among hair care products sold in China between 2014 and 2017.
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According to market research firm Euromonitor, the brand grew a whopping 9,521 percent in the period in terms of yuan sales. It corresponds to a 358 percent rise each year.
The number of shops to sell Ryo products in China increased of 3,000 last year alone.
Local consumers can now access Ryo products at more than 9,000 supermarkets, drugstores, and convenient shops across China.
LG Household & Health Care is increasing its penetration in the local market with its premium shampoo brand ReEn Yungo. ReEn Yungo products are available through 3,360 Watsons’ stores across China.
The Yungo line became famous among Chinese tourists visiting Korea and the brand now accounts for over 80 percent of the company’s sales for hair care products in China. The company also launched anti-hair loss shampoo brand Dr. Groot in China early this year.
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Aekyung Industrial entered the Chinese market in 2012 by launching Kerasys shampoo and conditioner products and debuted its new shampoo brand of Derma and More this year. The company is gearing up to increase exports of hair care products to China through its Shanghai office established last year.
China’s hair care market is on a sharp growth curve each year with the value jumping from US$6.9 billion in 2014 to US$7.6 billion in 2017. It is estimated to exceed $8 billion in 2022.
(Source: Pulse News )