Overview and Scope
K-Beauty products refer to skincare and makeup products that originate from South Korea and are influenced by the Korean beauty philosophy. It involves multi-step routines and a holistic approach to skincare that prioritizes long-term skin health and a radiant, youthful appearance.
Sizing and Forecast
The k-beauty products market size has grown strongly in recent years. It will grow from $10.66 billion in 2023 to $11.56 billion in 2024 at a compound annual growth rate (CAGR) of 8.4%. The growth in the historic period can be attributed to the rising awareness of chemical-free beauty products, rising innovative formulations and ingredients, the emphasis on multi-step skincare routines.
The k-beauty products market size is expected to see strong growth in the next few years. It will grow to $15.17 billion in 2028 at a compound annual growth rate (CAGR) of 7.0%. The growth in the forecast period can be attributed to increasing organic skincare products, popularization of products inspired by unique ingredient formulas and digital marketing strategies, increasing recognition through social media, beauty influencers, and endorsements by celebrities. Major trends in the forecast period include interest in eco-friendly and sustainable beauty products, partnerships, collaborations, increasing company investments, product innovations.
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Segmentation & Regional Insights
The k-beauty products market covered in this report is segmented –
1) By Product Type: Skin Care, Hair Care
2) By Distribution Channel: Supermarkets And Hypermarkets, Specialty Stores, Online, Pharmacies
3) By End-User: Men, Women
North America was the largest region in the k-beauty products market in 2023. The regions covered in the k-beauty products market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The growing demand for natural and organic skincare is expected to propel the growth of the K-beauty products market going forward. Natural and organic skincare refers to products formulated with ingredients sourced directly from nature, such as plants, minerals, and sometimes animal by-products. K-beauty products often feature natural and organic gentle formulations that are suitable for all skin types, including sensitive skin. For instance, in June 2023, according to the Centre for the Promotion of Imports from Developing Countries, a Netherlands-based intergovernmental organization, UK market sales of certified organic cosmetics increased by 15% and reached (US$150.13) £138.23 million in 2021. Therefore, the growing demand for natural and organic skincare drives the K-beauty products market.
Key Industry Players
Major companies operating in the k-beauty products market report are Unilever PLC, LG Household & Health Care, Korea Tobacco & Ginseng Corporation, Amorepacific Corporation, KOSÉ Corporation, COSMAX Group, Neogen Corporation, Kolmar Korea Co. Ltd., Cosmecca Korea Co. Ltd., Clio Cosmetics Co. Ltd., Able C&C Co. Ltd., Nature Republic, Han Bul Cosmetics Co. Ltd., Tonymoly Co.Ltd., KBL Cosmetics, COSRX Official, The Crème Shop, The Face Shop Inc., ADWIN Korea Corp., AMI COSMETIC Co. Ltd., BANILLA CO, JUNGSAEMMOOL BEAUTY, The Beauty Factory Ltd., ZENPIA Co. Ltd. – Secret Key, Annie’s Way International Co. Ltd.
The k-beauty products market report table of contents includes:
1. Executive Summary
2. K-Beauty Products Market Characteristics
3. K-Beauty Products Market Trends And Strategies
4. K-Beauty Products Market – Macro Economic Scenario
5. Global K-Beauty Products Market Size and Growth
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32. Global K-Beauty Products Market Competitive Benchmarking
33. Global K-Beauty Products Market Competitive Dashboard
34. Key Mergers And Acquisitions In The K-Beauty Products Market
35. K-Beauty Products Market Future Outlook and Potential Analysis
36. Appendix
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