K-Beauty Products Market

Global K-Beauty Products Market:

The global K-beauty products market size reached US$ 13,434.6 Million in 2023. Looking forward, IMARC Group expects the market to reach US$ 30,731.8 Million by 2032, exhibiting a growth rate (CAGR) of 9.34% during 2024-2032. The increasing influence of social media platforms, along with the rising consciousness towards a comprehensive skincare routine, is primarily bolstering the market.

K-Beauty Products Market Analysis:

• Major Market Drivers: The rising demand for skincare products that provide effective solutions for several skin concerns is one of the key factors propelling the market. Additionally, the widespread adoption of natural and unique ingredients is also acting as another significant growth-inducing factor.
• Key Market Trends: The inflating focus on a multi-step approach, including toning, cleansing, moisturizing, and targeted treatments, is augmenting the market. Besides this, the elevating consumer inclination towards fermented ingredients, botanical extracts, and herbal remedies is further bolstering the global market.
• Competitive Landscape: Some of the prominent companies in the market include Able C & C Ltd., Adwin Korea Corporation, Amorepacific Corporation, CLIO COSMETICS Co. Ltd., Cosrx Inc., LG H&H Co. Ltd. (LG Coproration), The Crème Shop Inc., The Face Shop Inc., and Tonymoly Co. Ltd., among many others.
• Geographical Trends: Asia Pacific exhibits a clear dominance in the market, owing to the shifting preference for clean and organic beauty products. Besides this, the widespread influence of celebrity endorsements is also propelling the regional market.
• Challenges and Opportunities: One of the main challenges hindering the market is the intense competition among key players. However, the development of innovative formulations and the increasing emphasis on targeting niche consumer needs through personalized marketing strategies will continue to fuel the market in the coming years.

K-Beauty Products Market Trends:

Shift Towards Natural Ingredients

The rising demand for organic ingredients is encouraging consumers to opt for cosmetic and skincare products that are free from harmful chemicals and synthetic additives. For example, in October 2023, SUGAR Cosmetics launched Quench Botanics, a Korean brand tailor-made for Indian skin and weather conditions with natural ingredients. Besides this, in September 2023, OLIVIAUMMA LLC developed the skincare brand OLIVIAUMMA, Glass Skin Tanghulu that is extracted from apple, papaya, heartleaf, shine muscat, and green plum with high-frequency technology, thereby making the face tone even, clean, moisturized, etc. Additionally, in January 2024, one of the leading Korean premium personal care companies, KUNDAL, known for its usage of macadamia and honey, introduced its K-Beauty Halal hairline that features an anti-sebum P + hyalocta complex, providing an instant refreshing sensation to the scalp. Apart from this, in March 2024, LG Household & Health Care-owned CNP Laboratory aimed to strengthen its position in Japan with the launch of exclusive products, which contain propolis as the main ingredient. Furthermore, brands like Whamisa and Innisfree are incorporating natural ingredients, including honey, green tea, and numerous botanicals, which is anticipated to fuel the market over the forecasted period.

Personalized Skincare Regimes

K-beauty products are known for their targeted treatments and innovative formulations, thereby catering to a wide range of skin types and issues. For example, in June 2024, Lady K Malaysia introduced halal and vegan skincare products that are free from animal-based ingredients. Additionally, in May 2024, Sapphire Beauty & Wellness (SB&W), one of the companies dedicated to providing high-quality beauty and wellness items in the Philippines, unveiled two South Korean skincare brands, Désembre and Dermagarden. Besides this, individuals are willing to invest time and effort in their beauty routines, which is acting as another significant growth-inducing factor. For instance, in November 2023, South Korean nutricosmetics company Vital Beautie, owned by Amorepacific, introduced a retinol-based dietary supplement that claims to be safe even for people who are sensitive to the ingredient. Moreover, IOPE's lab-tailored solution usually involves skin analysis and personalized consultations to recommend products that address individual skin concerns. In line with this, the rising popularity of single-use masks soaked in nutrient-rich serums by brands like Mediheal and Dr. Jart+ is contributing to the K-beauty products market share.

Wide Accessibility of Products

Evolving consumer demand is inflating the use of e-commerce and digital platforms, which is driving the market. In April 2024, one of the prominent beauty retailers, Tira, exclusively launched the K-beauty brand Kundal on its e-commerce platform and in select stores to introduce its hair and body care products to the Indian market and bolster its international brand selection. Similarly, in March 2024, Skin1004 unveiled its offerings that are commonly available via the Tirra App. Besides this, other websites, such as Soko Glam, YesStyle, Amazon, etc., are becoming crucial in reaching a wider audience, thereby allowing individuals from all over the world to access K-beauty products easily. Moreover, the growing number of brick-and-mortar stores is also propelling the market. For instance, in May 2024, CJ Olive Young Corp., South Korea’s prominent beauty store chain, announced to set up its subsidiary in Japan to supply cosmetics offerings to local distributors across the country. Apart from this, brand-specific online stores, such as Laneige’s and Innisfree’s websites, offer direct-to-consumer sales, which is projected to fuel the global market in the coming years.

Global K-Beauty Products Industry Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with the K-beauty products market forecast at the global, regional, and country levels for 2024-2032. Our report has categorized the market based on the product type, distribution channel, and end user.

Breakup by Product Type:

• Sheet Masks
• Cleansers
• Moisturizers
• Makeup
• Others
   

Sheet masks currently hold most of the total market share

The report has provided a detailed breakup and analysis of the market based on the product type. This includes sheet masks, cleansers, moisturizers, makeup, and others. According to the report, sheet masks represented the largest market segmentation.

Sheet masks account for the largest segmentation in the market due to their convenience, efficacy, and ability to cater to a wide range of skin concerns. These masks are easy to use, providing a quick and effective skincare solution that fits into any routine. The hydrating and nutrient-rich formulations found in sheet masks deliver immediate visible results, making them a popular choice among consumers seeking instant skin benefits. The variety of options available, from moisturizing and brightening to anti-aging and soothing, thereby ensuring that there is a sheet mask for every skin type and concern. For instance, brands, including Dr. Jart+ and Innisfree, incorporate the latest skincare trends and scientific advancements. Additionally, in February 2022, Atman created a unique sheet mask called Kosk that allows the wearer to cover the nose and comfortably eat and drink whenever they want to remove it completely.

Breakup by Distribution Channel:

• Online Retail
• Supermarket/Hypermarket
• Specialty/Monobrand Stores
   

Specialty/monobrand stores account for the largest market share

The report has provided a detailed breakup and analysis of the market based on the distribution channel. This includes online retail, supermarket/hypermarket, and specialty/monobrand stores. According to the report, specialty/monobrand stores represented the largest market segmentation.

The ability of specialty/ mono-brand stores to provide a tailored and immersive shopping experience that aligns with the high standards and unique identity of each brand is augmenting the segment's growth. This dedicated retail environment helps in building strong brand loyalty and trust among consumers, as they receive personalized service and expert advice tailored to their specific skincare needs. For example, Innisfree's flagship stores provide an immersive experience that includes in-store demonstrations, skin consultations, and an extensive selection of their natural ingredient-based products. Similarly, Amorepacific's Aritaum stores offer an exclusive showcase of their various brands, like Laneige, Sulwhasoo, Mamonde, etc., ensuring that customers have access to the latest products and innovations.

Breakup by End User:

• Male
• Female 
   

Female account for the largest market share

The report has provided a detailed breakup and analysis of the market based on the end user. This includes male and female. According to the report, female represented the largest market segmentation.

The K-beauty industry is known for its focus on skincare routines and beauty solutions that cater specifically to women's diverse skincare needs and aesthetic preferences. With a wide array of products designed to address various skin concerns such as hydration, anti-aging, brightening, and acne prevention, K-beauty brands have successfully captured the attention of female consumers who prioritize skincare as an essential aspect of their daily routine. For example, brands like Etude House and Missha offer extensive product lines that include serums, moisturizers, and makeup items that appeal to different skin types and beauty goals. Additionally, the K-beauty market's emphasis on natural ingredients, innovative formulations, and appealing packaging resonates strongly with women seeking both effectiveness and aesthetic pleasure in their skincare products.

Breakup by Region:

• North America
  • United States
  • Canada
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

Asia Pacific exhibits a clear dominance in the market

The market research report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, Asia Pacific accounted for the largest market share.

The rising cultural emphasis on skincare, along with the expanding middle-class population, is primarily propelling the market in Asia Pacific. In China, the use of e-commerce platforms like Tmall and JD.com has made it easier for consumers to access a wide range of K-beauty products, leading to robust sales growth. Moreover, continuous collaborations among key players are also acting as significant growth-inducing factors. For example, in July 2022, Saturday Skin partnered with Nykaa to expand its presence in India and offer a wide array of K-beauty products via the Nykaa website and mobile app. Similarly, in November 2022, L'Oréal announced the collaboration with Shihyo, a Korean brand that includes 24 herbal ingredients steeped in fermented rice and other innovative Asian techniques.

Competitive Landscape:

The market research report has provided a comprehensive analysis of the competitive landscape. Detailed profiles of all major market companies have also been provided. Some of the key players in the market include:

• Able C & C Ltd.
• Adwin Korea Corporation
• Amorepacific Corporation
• CLIO COSMETICS Co. Ltd.
• Cosrx Inc.
• LG H&H Co. Ltd. (LG Coproration)
• The Crème Shop Inc.
• The Face Shop Inc.
• Tonymoly Co. Ltd.
   

 (Please note that this is only a partial list of the key players, and the complete list is provided in the report.)

 K-Beauty Products Market Recent Developments:

• June 2024: Lady K Malaysia introduced halal and vegan skincare products that are free from animal-based ingredients.
• May 2024: Sapphire Beauty & Wellness (SB&W), one of the companies dedicated to providing high-quality beauty and wellness items in the Philippines, developed two South Korean skincare brands, Désembre and Dermagarden.
• April 2024: One of the prominent beauty retailers, Tira, exclusively launched the K-beauty products brand Kundal on its e-commerce platform to unveil its hair and body care products to the Indian market and bolster its international brand selection.

K-Beauty Products Market Report Scope:

Key Questions Answered in This Report:

• How has the global K-beauty products market performed so far, and how will it perform in the coming years?
• What are the drivers, restraints, and opportunities in the global K-beauty products market?
• What is the impact of each driver, restraint, and opportunity on the global K-beauty products market?
• What are the key regional markets?
• Which countries represent the most attractive tea market?
• What is the breakup of the market based on the product type?
• Which is the most attractive product type in the K-beauty products market?
• What is the breakup of the market based on the distribution channel?
• Which is the most attractive distribution channel in the K-beauty products market?
• What is the breakup of the market based on the end-user?
• Which is the most attractive end-user in the K-beauty products market?
• What is the competitive structure of the global K-beauty products market?
• Who are the key players/companies in the global K-beauty products market?

Key Benefits for Stakeholders:

• IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the K-beauty products market from 2018-2032.
• The research report provides the latest information on the market drivers, challenges, and opportunities in the global K-beauty products market.
• The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's five forces analysis assists stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the K-beauty products industry and its attractiveness.
• The competitive landscape allows stakeholders to understand their competitive environment and provides insight into the current positions of key players in the market.