Market Size of South Korea Beauty And Personal Care Products Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR (2024 - 2029) | 5.22 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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South Korea Cosmetics Market Analysis
The South Korea Beauty And Personal Care Products Market is expected to register a CAGR of 5.22% during the forecast period.
- South Korea is one of the fastest-changing beauty markets, introducing industry-leading innovations and globally setting trends. The current trend is the rise of do-it-yourself (DIY) beauty care. As a result, DIY hair coloring, nail care, and care in other K-beauty categories are fetching new customers within the country.
- Korean beauty start-ups have been able to break into the global market owing to the huge demand for K-beauty products. K-beauty product companies are investing more in packaging the product by making them more attractive and creative to highlight the attributes of the products. However, several companies are strategically acquiring K-Beauty start-ups and brands to stay on top of the current beauty market trends. Cleaner label products and claims, such as cruelty-free and eco-friendly, have been gaining more prominence in the market.
- The people in South Korea are attracted to their K-pop idols and follow every trend of their idols. The 2022 K-pop trends like glitter under the eyes, gradient lips, puppy eyes, and many more are attracting consumers in the region. Due to this, people are interested in having such makeup. These factors are driving the market. Also, K-pop idols and bands collaborate with beauty and personal care brands. This is further increasing the purchase of products.
- For instance, in October 2022, Amorepacific launched BTS I Amorepacific Lip Sleeping Mask Lip & Pop limited edition. The lip mask claims to keep the lips smoother and plumper by managing dead skin cells on the lips and moisturizing them.
