Anti-aging is emerging as a new keyword in the beauty industry. It can be defined as middle-aged consumers’ preference for functional beauty care products that help them look younger than their age.
According to the Samsung Economic Research Institute, the ratio of those in their 50s to the entire population of Korea has recently surpassed the 13% mark, and the consumption by those in their 50s accounts for 22.5% of domestic consumption. The figures show that the anti-aging market will keep growing rapidly down the road. “The market is growing at an annual average of 10% each year these days, and is likely to reach 28.3 trillion won [US$25.7 billion] in size by 2020,” it said.
Related companies are getting more and more popular with stock market investors, too. Examples include Medytox, Cell Biotech, and Bioland.
Medytox is a company engaged in the production and R&D of A- and B-type therapeutic proteins against botulism and the like, and the company has led the skincare market with its anti-wrinkle products. It is planning to make inroads into the Russian market in the second half of this year, and also increase its exports to Thailand and Japan. Tong Yang Securities has recently estimated the company’s annual sales and operating profits for 2013 at 47.9 billion won (US$43.3 million) and 21.2 billion won (US$19.2 million), respectively.
Cell Biotech is specialized in the production of probiotics lactobacillus. It is capable of starter development to the production of finished goods based on its double coating technology, and has shipped its products to the European and Asian markets. Though 95% of its sales have been derived from business-to-business marketing, it is planning to focus more on business-to-consumer marketing in shopping malls, hospitals, and pharmacies. Its annual turnover and business profits for this year are estimated at 30.4 billion won (US$27 million) and 8.1 billion won (US$7.3 million) each.
Bioland is the leading health food materials supplier in Korea, producing hyaluronic acid for moisturizing, albutin for skin whitening, and so forth. It is expected to achieve yearly sales of 81.3 billion won (US$73.8 million) and operating profits of 18.4 billion won (US$16.6 million) this year.
The beauty care market of Korea has grown mainly in the cosmetics (75% of the market) and medical (18%) sectors. However, securities market experts are saying that the anti-aging market will have a great impact upon a variety of fields, ranging from sports and leisure activities to clothing, applied science, and electronics.