K-Beauty Products Market Outlook
According to the report by Expert Market Research (EMR), the global k-beauty products market size reached a value of USD 12.39 billion in 2023. Aided by the global fascination with Korean beauty standards and skincare routines, the market is projected to further grow at a CAGR of 8.4% between 2024 and 2032 to reach a value of USD 23.62 billion by 2032.
Korean beauty products, commonly referred to as K-beauty, have gained international acclaim for their extensive skincare routines, which emphasise skin health, hydration, and luminosity. The market encompasses a wide range of products, including but not limited to, cleansers, moisturisers, masks, serums, and sunscreens, alongside innovative beauty solutions like BB creams, cushion compacts, and sleeping masks.
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The widespread popularity of Korean pop culture, including music (K-pop), television dramas, and movies, has significantly contributed to the K-beauty products market growth. Consumers worldwide are increasingly drawn to the aesthetic and skincare routines of Korean celebrities, fueling demand for K-beauty products. K-beauty is also renowned for its innovation in product development, often incorporating unique ingredients like snail mucin, bee venom, and green tea. These innovations, coupled with attractive packaging, have captured the curiosity and loyalty of consumers seeking novel and effective beauty solutions.
As per the K-beauty products market analysis, unlike Western beauty trends that often emphasise makeup and concealment, K-beauty products prioritise skincare and preventative measures. This holistic approach to beauty, which advocates for maintaining healthy, hydrated, and blemish-free skin, resonates with global consumers seeking sustainable beauty routines.
The strategic use of social media platforms and e-commerce channels has also played a crucial role in boosting the K-beauty products market share. Influencers, beauty bloggers, and dedicated online stores have made these products easily accessible to an international audience.
The market is characterised by rapid trends and continuous innovation. Recent trends include a growing emphasis on clean beauty, with products formulated from natural and eco-friendly ingredients. There is also a significant shift towards personalised skincare solutions, leveraging technology and scientific research to meet individual skin needs. Additionally, the increasing consumer interest in sustainable and ethical beauty products opens new avenues for brands in the K-beauty products market to innovate and lead in the clean beauty segment.
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K-Beauty Products Market Segmentation
The market can be divided based on product type, distribution channel, end-use, and region.
Market Breakup by Product Type
- Skincare
- Moisturisers
- Cleansers
- Sunscreens or Night Creams
- Serum or Ampoule
- Masks
- Others
- Makeup
- Face
- Lip
- Eye
- Haircare
- Shampoo
- Conditioner
- Serums
- Others
- Others
Market Breakup by Distribution Channel
- Supermarkets and Hypermarkets
- Specialty Stores
- Online Stores
- Others
Market Breakup by End-Use
- Male
- Female
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global K-beauty products market. Some of the major players explored in the report by Expert Market Research are as follows:
- LG H&H Co., Ltd.
- Amorepacific Us, Inc.
- Atomy Co., Ltd.
- Able C&C Co., Ltd.
- It’s Hanbul Co., Ltd.
- Clio Cosmetics Co., Ltd.
- Unilever Plc
- Ceragem Co., Ltd.
- Cosmax Inc.
- Annie’s Way International Co., Ltd.
- Others
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