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Sun Care – South Korea 2024
Mintel Market Sizes
Sun Care – South Korea
Generated by Mintel Market Sizes
2024
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Contents
Definitions 1
Retail market value in local currency 2
Highlights ...................................................................................................................................... 2
Figure 1: Value in Local Currency - Value (2017 - 2028) ................................................................... 2
Figure 2: Value in Local Currency - Value growth (2017 - 2028) ........................................................ 2
Table 1: Value in Local Currency (2017 - 2028) ............................................................................... 3
Retail market value in USD 4
Figure 3: Value in USD - Value (2017 - 2028) ................................................................................. 4
Figure 4: Value in USD - Spend per capita (population) (2017 - 2028) ............................................... 4
Figure 5: Value in USD - Spend as a proportion of GDP (2017 - 2028) ................................................ 5
Figure 6: Value in USD - Value growth (2017 - 2028) ....................................................................... 5
Table 2: Value in USD (2017 - 2028) ............................................................................................. 5
Market Segmentations 6
Figure 7: South Korea - Sun Care: Retail market segmentation by value (bn KRW) (2020 - 2023) ......... 6
Table 3: South Korea - Sun Care: Retail market segmentation by value (bn KRW) (2020 - 2023) ........... 6
Market Shares 8
Figure 8: South Korea - Sun Care: Company retail market share by value (%) - 2022 .......................... 8
Figure 9: South Korea - Sun Care: Company retail market share by value (%) - 2023 .......................... 9
Table 4: South Korea - Sun Care: Company retail market share by value (%) (2022 - 2023) .............. 10
Figure 10: South Korea - Sun Care: Brand retail market share by value (%) - 2022 ........................... 11
Figure 11: South Korea - Sun Care: Brand retail market share by value (%) - 2023 ........................... 11
Table 5: South Korea - Sun Care: Brand retail market share by value (%) (2022 - 2023) ................... 13
Company & Brand details 14
Table 6: South Korea - Sun Care: Company Website Links .............................................................. 14
Table 7: South Korea - Sun Care: Brand Website Links .................................................................. 14
Compound annual growth rates 16
Table 8: Retail market compound annual growth rates (2019 - 2028) ............................................... 16
Socio-economic data 17
Figure 12: Population (millions) (2019 - 2028) .............................................................................. 17
Table 9: Population (millions) (2019 - 2028) ................................................................................. 17
Figure 13: Consumer price index (CPI) (2019 - 2028) .................................................................... 18
Table 10: Consumer price index (CPI) (2019 - 2028) ..................................................................... 18
Figure 14: Gross domestic product (tn USD) (2019 - 2028) ............................................................ 19
Table 11: Gross domestic product (tn USD) (2019 - 2028) .............................................................. 19
Figure 15: Exchange rates (2019 - 2028) ..................................................................................... 20
Table 12: Exchange rates (2019 - 2028) ...................................................................................... 20
Sources of Data 21
Related Research 22
About Our Process 23
How We Use Our Sources 25
About Mintel 28
Definitions
Sun Care
Market
definitions
Retail
This market covers sunscreen, self-tanning and after sun products for adults and children. Market value is based on sales through all retail
channels including direct to consumer. It includes mass market and prestige lines but excludes sales to the professional sector, such as beauty/
tanning salons.
Segment
definitions
Retail Sunscreen This includes sun protection products and accelerators.
Inclusions
All products whose main function is sun protection, including those which incorporate moisturisers, insect repellents. Adult and children's. Body
sheets with SPF.
Exclusions
Hair care products with AV protection; skincare, particularly anti-ageing which have UV protection as a minor benefit. Body care moisturisers which
have gradual tanning as a secondary function.
Units
KRW: South Korean won
USD: US dollar
Note: one billion is a thousand million, one trillion is a thousand billion.
1
Figure 1: Value in Local Currency - Value Figure 2: Value in Local Currency - Value growth
Retail market value in local currency
Highlights
The Sun Care Retail (South Korea) market increased in value by % in 2023.
Market value in was bn KRW.
The strongest growth in recent years for Sun Care Retail (South Korea) was in ,
with a rate of %.
Compound annual growth in Sun Care Retail (South Korea) for the period
was %.
In Sun Care Retail (South Korea) is forecast to reach bn KRW
representing a value CAGR of since .
2
Figure 3: Value in USD - Value Figure 4: Value in USD - Spend per capita (population)
Retail market value in USD
4
Sources: Trade Interviews, Mintel
7
Market Shares
Figure 8: South Korea - Sun Care: Company retail market share by value (%) - 2022
Figure 9: South Korea - Sun Care: Company retail market share by value (%) - 2023
9
Figure 10: South Korea - Sun Care: Brand retail market share by value (%) - 2022
Figure 11: South Korea - Sun Care: Brand retail market share by value (%) - 2023
11
12
Company & Brand details
Table 6: South Korea - Sun Care: Company Website Links
Company Company Website
Amorepacific Corporation http://www.apgroup.com
Atomy Co., Ltd http://www.atomy.kr
Bmonument Co., Ltd. http://www.dalba.co.kr
LG Group http://www.lg.net
Migros-Genossenschafts-Bund http://www.migros.ch
The L'Oréal Group http://www.loreal.com
Unilever PLC http://www.unilever.com
Table 7: South Korea - Sun Care: Brand Website Links
Brand Brand Website Parent Company
A.H.C http://www.unilever.com Unilever PLC
Atomy http://www.atomy.kr Atomy Co., Ltd
Dr.G http://www.migros.ch Migros-Genossenschafts-Bund
Hera http://www.apgroup.com Amorepacific Corporation
Innisfree http://www.apgroup.com Amorepacific Corporation
Lancome http://www.loreal.com The L'Oréal Group
O HUI http://www.lg.co.kr LG Group
The Face Shop http://www.lg.co.kr LG Group
The History of Whoo http://www.lg.co.kr LG Group
d'Alba http://www.dalba.co.kr Bmonument Co., Ltd.
14
15
Sources of Data
Economist Intelligence Unit
Mintel has forged a strong working relationship with the Economist Intelligence Unit (EIU). Both companies share a respected heritage in delivering market research, analysis and
forecasts to business-leaders around the world.
The EIU is the source of all socio-economic data contained within Mintel Market Sizes. With specialist economic and political insight for over 200 locations EIU data perfectly
complements Mintel Market Sizes.
To learn more visit eiu.com
21
Related research
This report has been generated by Mintel Market Sizes, a trusted database containing market size, market share and forecast data for thousands of consumer goods categories
worldwide. To learn more visit marketsizes.mintel.com You may be interested in other available research related to this report:
Sun Care - Australia (2023)
Sun Care - Brazil (2023)
Sun Care - Canada (2020)
Sun Care - China (2022)
Sun Care - France (2023)
Sun Care - India (2022)
Sun Care - Indonesia (2023)
Sun Care - Italy (2022)
Sun Care - Japan (2023)
Sun Care - Thailand (2023)
Sun Care - UK (2023)
Sun Care - US (2023)
Subscription options
Sun Care - South Korea (2024) is included in a number of subscription packages.
Subscription by Region:
South Korea – All Markets
Asia Pacific – All Markets
Global – All Markets
Subscription by Industry:
Beauty, Personal Goods, Toiletries – Global Beauty, Personal Goods, Toiletries – Asia Pacific
22
About our process
A report generated by Mintel Market Sizes is designed to provide instant preliminary market research. Each report provides an overview of the defined market, including market
size, market forecast, segmentation and company market share along with top-line socio-economic data. The data is supplied in both graphical and tabular format for ease of
interpretation and analysis.
A wealth of international sources feed into Mintel Market Sizes. This is a mix of primary and secondary data sources. In addition each market contains an exclusive 5 year market
size forecast.
The team
Reports are produced by a team of in-house, multi-national researchers who have expertise in local markets and languages. They are specialists in data collection in over 30
locations across 6 industries, including niche industries and developing markets. All secondary data sets in both local and global languages are derived from a range of sources,
from government statistics to trade magazines. In addition, Mintel has strong relationships with suppliers of primary data research, such as IRI (Information Resources, Inc.) in
some locations in Europe and North America, who provide primary data which is used alongside other research to derive market sizes and shares.
Full transparency of source data is provided for all secondary sources. Furthermore, Mintel seeks permission from the original source which is quoted in every case on Mintel
Market Sizes, reinforcing the integrity and robust nature of the data.
Coverage
CPG industries
The 6 CPG industries are covered by 60 separate reports, which are produced for all the locations covered by Mintel Market Sizes.
Industries: Alcoholic Drinks; Beauty, Personal Goods & Toiletries; Food; Non alcoholic Drinks; Household/Home; and Pharmaceuticals
Locations: Australia, Brazil, Canada, Chile, China, Colombia, Denmark, Finland, France, Germany, Hong Kong, India, Indonesia, Italy, Japan, Malaysia, Mexico, Netherlands, New
Zealand, Nigeria, Norway, Peru, Philippines, Poland, Saudi Arabia, Singapore, South Africa, South Korea. Spain, Sweden, Thailand, UK, US, Vietnam
23
Retail figures and totals
There are two types of market size data available: retail; and total. The market and segment definitions indicate what data is included.
Retail market data (also known as off-trade sales) includes all sales through retail channels including standard CPG/FMCG channels such as hypermarkets, supermarkets,
traditional grocery stores, self-service stores and discount stores and as well as direct to consumer where applicable. The retail market data typically includes sales of packaged
goods. Where retail market data includes sales of unpackaged goods, this is indicated in the definitions.
Total market data includes all retail sales and non-retail sales totalled together. Non-retail sales are also referred to as on-trade and on-premise. This data includes HoReCa (out-
of-home consumption and food service such as restaurants, bars, catering and hotels), unpackaged goods and sales for use in the industry or for manufacturing.
Forecasting
Mintel Market Sizes covers a broad range of industries and forecasts are adapted accordingly. The forecasts are produced using a model that links historical market trends to
projections of macro-economic factors.
Each market is affected by different macro-economic factors. First, all the main parameters are identified that affect the market/industry which is being forecast. Based on their
understanding of the sector in question, the researchers select the parameter regarded as the most relevant. The parameter chosen is guided by the correlation between the past
market trends, information from primary and secondary research as well as what seems intuitively right.
Notes
Although Mintel Market Sizes is intended as a preliminary market research data tool, notes are provided which give more insight into the market such as: explaining any apparent
anomalies; providing snippets of relevant consumer trends; or individual examples of products and brands or company activity which may have influenced market trends.
24
How we use our sources
Primary sources
Trade interviews
This primary research method is used to engage with the active players in a sector for the majority of reports where data from other sources is not complete. Interviews are
undertaken primarily to: fill in missing years; assess the latest year’s trends and estimates; provide an assessment of any non-standard segmentation; verify competitors’ shares;
and explain the latest initiatives and any anomalies or conflicts deriving from other sources. Most importantly interviewees are contacted to: verify any estimated or disputed
data; provide insight into market dynamics; and explain any aberrations or unexpected results. When this method is utilized, Mintel conducts at least two trade interviews to get
as unbiased a view as possible. All information is weighted according to the respondent’s field of expertise.
Store checks
Using the GNPD (Global New Product Database) network of over 13,000 trained associates, Mintel performs in-store audits when brand information is scarce. The auditors use
local knowledge and market expertise to research and validate what products are available through retail channels. They check on-shelf product availability at key retailers, prices
for individual brands and products and initial indication of brand and company market representation for further verification from other sources. These audits also provide a
preliminary survey of what types of products are available for determining how the market is segmented, which is checked with other sources. Data collection is based on strict
guidelines to avoid misinterpretation of the local market. After submission, the information collected is examined by Mintel Market Sizes researchers and processed into data point
format, providing an overview of the market.
Mintel
Data is not always available in a clear, cohesive and comparable form that can be used directly; it usually involves some manipulation and interpretation by the researchers. At
times this involves reconciling varying sets of data from different sources. In these instances we will indicate this by sourcing Mintel.
The estimates are compiled by location and regional researchers based on their experience of similar markets or locations. Researchers have direct conversations with key
contacts within the leading companies and data is also used from other Mintel product, including Mintel Report, GNPD and Trends.
Mintel is also a source for all forecasts because this is derived by Mintel’s own forecasting model.
25
Secondary sources
Government, trade association and other official sources
Information from associations varies considerably. Some data from these sources is the industry standard; other data is representative of members for part of the market; while
some data outlines challenges the association’s members face. Official sources usually provide accurate and credible data. Mintel researchers update and interpret the data where
needed.
Company information
Company websites, including investor relations (IR), press releases and articles are used to enhance market understanding. This can give insight into issues in the market and into
company strategies. Players which are dominant in any sector can supply key findings for the whole segment. Company information can also provide data on product ranges and
player direction.
Online store checks are also sourced as Company Information. These checks help establish what brands and products are available as well as provide an indication of pricing,
which is adjusted to negate any bias towards the online target audience. They also give an indication of each major player’s activity, particularly at the premium end of the
market.
Trade magazines
Trade Magazines provide valuable insight into the latest general market conditions and challenges. They are used to support segment and company data and the latest year trend
information.
Partners
Economist Intelligence Unit
Mintel has forged a strong working relationship with the Economist Intelligence Unit (EIU). Both companies share a respected heritage in delivering market research, analysis and
forecasts to business-leaders around the world.
The EIU is the source of all socio-economic data contained within Mintel Market Sizes. With specialist economic and political insight for over 200 locations EIU data perfectly
complements Mintel Market Sizes.
IRi
26
IRi is a global provider of big data and predictive analytics for CPG/FMCG manufacturers and retailers. IRI is the source of some sales data for the US and UK contained within
Mintel Market Sizes.
27
About Mintel
Mintel is an independent award-winning provider of world-leading market intelligence, delivering robust information, analysis and critical recommendations. Mintel's trusted
portfolio of proprietary industry solutions and products has been supporting high profile clients in key sectors such as FMCG, financial services, media, retail, leisure and education
for over 38 years. With office locations in London, Chicago, New York, Shanghai, Tokyo and Sydney our global presence continues to grow.
To learn more visit mintel.com.
28

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Market Sizes Sample Report - 2024 Edition

  • 1. Sun Care – South Korea 2024 Mintel Market Sizes Sun Care – South Korea Generated by Mintel Market Sizes
  • 3. P U B L I S H E D B Y : Mintel Group Ltd To learn more about Mintel visit mintel.com Help desk UK: +44 (0)20 7778 7155 US: +1 (312) 932 0600 Australia: +61 (0)2 8284 8100 Japan: +81 (3) 5456 5605 China: +86 (21) 63866609 Email: info@mintel.com Note: This report has been generated by Mintel Market Sizes About Mintel Market Sizes Mintel Market Sizes is a trusted database containing market size, market share and forecast data for thousands of consumer goods categories worldwide. Mintel understands the importance of market size data within your organisation. Whether you.re seeking expansion opportunities, diversifying to new markets or capturing new clients, understanding the characteristics of a market is critical to your decision making process. Mintel Market Sizes provides fast, easy to compare, extractable market data. Using a blend of primary and secondary research, enhanced by exclusive insights from Mintel, users of Mintel Market Sizes will be assured they are using the best-in-class transparent research data. For more information visit marketsizes.mintel.com or contact your account manager or call your local helpdesk on one of the numbers above. © Mintel Group Limited. All Rights Reserved. Statistics in this report are the latest available at the time of research I M P O R T A N T W A R N I N G 1. Mintel Group Limited ("Mintel") is the legal owner of the copyright subsisting in this report. Any use and/or copying of such documents and materials which is not in accordance with Mintel's standard Terms and Conditions (available on www.mintel.com) or these Conditions of Use is unauthorised. Any unauthorised use ma y give rise to Mintel bringing proceedings for copyright infringement against you claiming an injunction, damages and costs. 2. The purchase, use or reading of any Mintel report that contains SymphonyIRI Group (IRI) InfoScan data by (or disclosure to) a Non-Participating Retailer or its employees (or agents/professional advisors working on its account) is prohibited. A Non-Participating Retailer is a retailer and its subsidiaries each as defined by IRI, where it, or one of its associated companies, has declined to participate in IRI.s InfoScan information service by not providing its data to IRI. A current written list of Non-Participating Retailers and subsidiaries (as notified to Mintel by IRI) is available from Mintel at any time, or as linked through the latest set of terms and conditions as displayed continuously on Mintel.s website at http://www.mintel.com. The Non- Participating Retailers as at May 24, 2010 are Walmart, Sam.s Club, Costco, Lidl, and Aldi. 3. Unless otherwise agreed in writing in advance by Mintel, this document may not be sold, passed on, communicated or disseminated in any form (including within its original covers), nor access granted, to any third party or to any subsidiary, associated or holding company (whether direct or indirect) of the original subscriber/ licensee/purchaser and its user(s) (together, the "Licensee"). 4. The Licensee acknowledges that all information and materials contained in this report are the copyright property and confidential information of Mintel, and are protected, inter alia, by the Copyright, Designs and Patents Act 1988 and other intellectual property rights and by these Terms and Conditions, and that no rights in any of the materials are transferred to the Licensee. The Licensee undertakes that it will not copy, reproduce, print or store in any manner (electronic or otherwise), extract or transmit in any form or otherwise deal with in any way the whole or part of the data, materials or information contained in this report. 5. The Licensee (or any subsequent user, whether licensed or unlicensed who reads this report) agrees it will not place financial reliance upon any figure, statement or inference contained within this or any other Mintel report, or invite investment from others, without first obtaining the written consent of Mintel's Company Secretary so to do. In the event that the Licensee (or any subsequent user, whether licensed or unlicensed) does not follow this procedure, it (or any subsequent user) agrees fully and effectually to indemnify Mintel against any claims, howsoever arising, and to draw specific attention to the fact that this consent has not been obtained.
  • 4. Contents Definitions 1 Retail market value in local currency 2 Highlights ...................................................................................................................................... 2 Figure 1: Value in Local Currency - Value (2017 - 2028) ................................................................... 2 Figure 2: Value in Local Currency - Value growth (2017 - 2028) ........................................................ 2 Table 1: Value in Local Currency (2017 - 2028) ............................................................................... 3 Retail market value in USD 4 Figure 3: Value in USD - Value (2017 - 2028) ................................................................................. 4 Figure 4: Value in USD - Spend per capita (population) (2017 - 2028) ............................................... 4 Figure 5: Value in USD - Spend as a proportion of GDP (2017 - 2028) ................................................ 5 Figure 6: Value in USD - Value growth (2017 - 2028) ....................................................................... 5 Table 2: Value in USD (2017 - 2028) ............................................................................................. 5 Market Segmentations 6 Figure 7: South Korea - Sun Care: Retail market segmentation by value (bn KRW) (2020 - 2023) ......... 6 Table 3: South Korea - Sun Care: Retail market segmentation by value (bn KRW) (2020 - 2023) ........... 6 Market Shares 8 Figure 8: South Korea - Sun Care: Company retail market share by value (%) - 2022 .......................... 8 Figure 9: South Korea - Sun Care: Company retail market share by value (%) - 2023 .......................... 9 Table 4: South Korea - Sun Care: Company retail market share by value (%) (2022 - 2023) .............. 10 Figure 10: South Korea - Sun Care: Brand retail market share by value (%) - 2022 ........................... 11 Figure 11: South Korea - Sun Care: Brand retail market share by value (%) - 2023 ........................... 11 Table 5: South Korea - Sun Care: Brand retail market share by value (%) (2022 - 2023) ................... 13 Company & Brand details 14 Table 6: South Korea - Sun Care: Company Website Links .............................................................. 14 Table 7: South Korea - Sun Care: Brand Website Links .................................................................. 14 Compound annual growth rates 16 Table 8: Retail market compound annual growth rates (2019 - 2028) ............................................... 16 Socio-economic data 17 Figure 12: Population (millions) (2019 - 2028) .............................................................................. 17 Table 9: Population (millions) (2019 - 2028) ................................................................................. 17 Figure 13: Consumer price index (CPI) (2019 - 2028) .................................................................... 18 Table 10: Consumer price index (CPI) (2019 - 2028) ..................................................................... 18 Figure 14: Gross domestic product (tn USD) (2019 - 2028) ............................................................ 19 Table 11: Gross domestic product (tn USD) (2019 - 2028) .............................................................. 19 Figure 15: Exchange rates (2019 - 2028) ..................................................................................... 20 Table 12: Exchange rates (2019 - 2028) ...................................................................................... 20
  • 5. Sources of Data 21 Related Research 22 About Our Process 23 How We Use Our Sources 25 About Mintel 28
  • 6. Definitions Sun Care Market definitions Retail This market covers sunscreen, self-tanning and after sun products for adults and children. Market value is based on sales through all retail channels including direct to consumer. It includes mass market and prestige lines but excludes sales to the professional sector, such as beauty/ tanning salons. Segment definitions Retail Sunscreen This includes sun protection products and accelerators. Inclusions All products whose main function is sun protection, including those which incorporate moisturisers, insect repellents. Adult and children's. Body sheets with SPF. Exclusions Hair care products with AV protection; skincare, particularly anti-ageing which have UV protection as a minor benefit. Body care moisturisers which have gradual tanning as a secondary function. Units KRW: South Korean won USD: US dollar Note: one billion is a thousand million, one trillion is a thousand billion. 1
  • 7. Figure 1: Value in Local Currency - Value Figure 2: Value in Local Currency - Value growth Retail market value in local currency Highlights The Sun Care Retail (South Korea) market increased in value by % in 2023. Market value in was bn KRW. The strongest growth in recent years for Sun Care Retail (South Korea) was in , with a rate of %. Compound annual growth in Sun Care Retail (South Korea) for the period was %. In Sun Care Retail (South Korea) is forecast to reach bn KRW representing a value CAGR of since . 2
  • 8.
  • 9. Figure 3: Value in USD - Value Figure 4: Value in USD - Spend per capita (population) Retail market value in USD 4
  • 10.
  • 11.
  • 13. Market Shares Figure 8: South Korea - Sun Care: Company retail market share by value (%) - 2022
  • 14. Figure 9: South Korea - Sun Care: Company retail market share by value (%) - 2023 9
  • 15.
  • 16. Figure 10: South Korea - Sun Care: Brand retail market share by value (%) - 2022 Figure 11: South Korea - Sun Care: Brand retail market share by value (%) - 2023 11
  • 17. 12
  • 18.
  • 19. Company & Brand details Table 6: South Korea - Sun Care: Company Website Links Company Company Website Amorepacific Corporation http://www.apgroup.com Atomy Co., Ltd http://www.atomy.kr Bmonument Co., Ltd. http://www.dalba.co.kr LG Group http://www.lg.net Migros-Genossenschafts-Bund http://www.migros.ch The L'Oréal Group http://www.loreal.com Unilever PLC http://www.unilever.com Table 7: South Korea - Sun Care: Brand Website Links Brand Brand Website Parent Company A.H.C http://www.unilever.com Unilever PLC Atomy http://www.atomy.kr Atomy Co., Ltd Dr.G http://www.migros.ch Migros-Genossenschafts-Bund Hera http://www.apgroup.com Amorepacific Corporation Innisfree http://www.apgroup.com Amorepacific Corporation Lancome http://www.loreal.com The L'Oréal Group O HUI http://www.lg.co.kr LG Group The Face Shop http://www.lg.co.kr LG Group The History of Whoo http://www.lg.co.kr LG Group d'Alba http://www.dalba.co.kr Bmonument Co., Ltd. 14
  • 20. 15
  • 21.
  • 22.
  • 23.
  • 24.
  • 25.
  • 26. Sources of Data Economist Intelligence Unit Mintel has forged a strong working relationship with the Economist Intelligence Unit (EIU). Both companies share a respected heritage in delivering market research, analysis and forecasts to business-leaders around the world. The EIU is the source of all socio-economic data contained within Mintel Market Sizes. With specialist economic and political insight for over 200 locations EIU data perfectly complements Mintel Market Sizes. To learn more visit eiu.com 21
  • 27. Related research This report has been generated by Mintel Market Sizes, a trusted database containing market size, market share and forecast data for thousands of consumer goods categories worldwide. To learn more visit marketsizes.mintel.com You may be interested in other available research related to this report: Sun Care - Australia (2023) Sun Care - Brazil (2023) Sun Care - Canada (2020) Sun Care - China (2022) Sun Care - France (2023) Sun Care - India (2022) Sun Care - Indonesia (2023) Sun Care - Italy (2022) Sun Care - Japan (2023) Sun Care - Thailand (2023) Sun Care - UK (2023) Sun Care - US (2023) Subscription options Sun Care - South Korea (2024) is included in a number of subscription packages. Subscription by Region: South Korea – All Markets Asia Pacific – All Markets Global – All Markets Subscription by Industry: Beauty, Personal Goods, Toiletries – Global Beauty, Personal Goods, Toiletries – Asia Pacific 22
  • 28. About our process A report generated by Mintel Market Sizes is designed to provide instant preliminary market research. Each report provides an overview of the defined market, including market size, market forecast, segmentation and company market share along with top-line socio-economic data. The data is supplied in both graphical and tabular format for ease of interpretation and analysis. A wealth of international sources feed into Mintel Market Sizes. This is a mix of primary and secondary data sources. In addition each market contains an exclusive 5 year market size forecast. The team Reports are produced by a team of in-house, multi-national researchers who have expertise in local markets and languages. They are specialists in data collection in over 30 locations across 6 industries, including niche industries and developing markets. All secondary data sets in both local and global languages are derived from a range of sources, from government statistics to trade magazines. In addition, Mintel has strong relationships with suppliers of primary data research, such as IRI (Information Resources, Inc.) in some locations in Europe and North America, who provide primary data which is used alongside other research to derive market sizes and shares. Full transparency of source data is provided for all secondary sources. Furthermore, Mintel seeks permission from the original source which is quoted in every case on Mintel Market Sizes, reinforcing the integrity and robust nature of the data. Coverage CPG industries The 6 CPG industries are covered by 60 separate reports, which are produced for all the locations covered by Mintel Market Sizes. Industries: Alcoholic Drinks; Beauty, Personal Goods & Toiletries; Food; Non alcoholic Drinks; Household/Home; and Pharmaceuticals Locations: Australia, Brazil, Canada, Chile, China, Colombia, Denmark, Finland, France, Germany, Hong Kong, India, Indonesia, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Saudi Arabia, Singapore, South Africa, South Korea. Spain, Sweden, Thailand, UK, US, Vietnam 23
  • 29. Retail figures and totals There are two types of market size data available: retail; and total. The market and segment definitions indicate what data is included. Retail market data (also known as off-trade sales) includes all sales through retail channels including standard CPG/FMCG channels such as hypermarkets, supermarkets, traditional grocery stores, self-service stores and discount stores and as well as direct to consumer where applicable. The retail market data typically includes sales of packaged goods. Where retail market data includes sales of unpackaged goods, this is indicated in the definitions. Total market data includes all retail sales and non-retail sales totalled together. Non-retail sales are also referred to as on-trade and on-premise. This data includes HoReCa (out- of-home consumption and food service such as restaurants, bars, catering and hotels), unpackaged goods and sales for use in the industry or for manufacturing. Forecasting Mintel Market Sizes covers a broad range of industries and forecasts are adapted accordingly. The forecasts are produced using a model that links historical market trends to projections of macro-economic factors. Each market is affected by different macro-economic factors. First, all the main parameters are identified that affect the market/industry which is being forecast. Based on their understanding of the sector in question, the researchers select the parameter regarded as the most relevant. The parameter chosen is guided by the correlation between the past market trends, information from primary and secondary research as well as what seems intuitively right. Notes Although Mintel Market Sizes is intended as a preliminary market research data tool, notes are provided which give more insight into the market such as: explaining any apparent anomalies; providing snippets of relevant consumer trends; or individual examples of products and brands or company activity which may have influenced market trends. 24
  • 30. How we use our sources Primary sources Trade interviews This primary research method is used to engage with the active players in a sector for the majority of reports where data from other sources is not complete. Interviews are undertaken primarily to: fill in missing years; assess the latest year’s trends and estimates; provide an assessment of any non-standard segmentation; verify competitors’ shares; and explain the latest initiatives and any anomalies or conflicts deriving from other sources. Most importantly interviewees are contacted to: verify any estimated or disputed data; provide insight into market dynamics; and explain any aberrations or unexpected results. When this method is utilized, Mintel conducts at least two trade interviews to get as unbiased a view as possible. All information is weighted according to the respondent’s field of expertise. Store checks Using the GNPD (Global New Product Database) network of over 13,000 trained associates, Mintel performs in-store audits when brand information is scarce. The auditors use local knowledge and market expertise to research and validate what products are available through retail channels. They check on-shelf product availability at key retailers, prices for individual brands and products and initial indication of brand and company market representation for further verification from other sources. These audits also provide a preliminary survey of what types of products are available for determining how the market is segmented, which is checked with other sources. Data collection is based on strict guidelines to avoid misinterpretation of the local market. After submission, the information collected is examined by Mintel Market Sizes researchers and processed into data point format, providing an overview of the market. Mintel Data is not always available in a clear, cohesive and comparable form that can be used directly; it usually involves some manipulation and interpretation by the researchers. At times this involves reconciling varying sets of data from different sources. In these instances we will indicate this by sourcing Mintel. The estimates are compiled by location and regional researchers based on their experience of similar markets or locations. Researchers have direct conversations with key contacts within the leading companies and data is also used from other Mintel product, including Mintel Report, GNPD and Trends. Mintel is also a source for all forecasts because this is derived by Mintel’s own forecasting model. 25
  • 31. Secondary sources Government, trade association and other official sources Information from associations varies considerably. Some data from these sources is the industry standard; other data is representative of members for part of the market; while some data outlines challenges the association’s members face. Official sources usually provide accurate and credible data. Mintel researchers update and interpret the data where needed. Company information Company websites, including investor relations (IR), press releases and articles are used to enhance market understanding. This can give insight into issues in the market and into company strategies. Players which are dominant in any sector can supply key findings for the whole segment. Company information can also provide data on product ranges and player direction. Online store checks are also sourced as Company Information. These checks help establish what brands and products are available as well as provide an indication of pricing, which is adjusted to negate any bias towards the online target audience. They also give an indication of each major player’s activity, particularly at the premium end of the market. Trade magazines Trade Magazines provide valuable insight into the latest general market conditions and challenges. They are used to support segment and company data and the latest year trend information. Partners Economist Intelligence Unit Mintel has forged a strong working relationship with the Economist Intelligence Unit (EIU). Both companies share a respected heritage in delivering market research, analysis and forecasts to business-leaders around the world. The EIU is the source of all socio-economic data contained within Mintel Market Sizes. With specialist economic and political insight for over 200 locations EIU data perfectly complements Mintel Market Sizes. IRi 26
  • 32. IRi is a global provider of big data and predictive analytics for CPG/FMCG manufacturers and retailers. IRI is the source of some sales data for the US and UK contained within Mintel Market Sizes. 27
  • 33. About Mintel Mintel is an independent award-winning provider of world-leading market intelligence, delivering robust information, analysis and critical recommendations. Mintel's trusted portfolio of proprietary industry solutions and products has been supporting high profile clients in key sectors such as FMCG, financial services, media, retail, leisure and education for over 38 years. With office locations in London, Chicago, New York, Shanghai, Tokyo and Sydney our global presence continues to grow. To learn more visit mintel.com. 28