Global K-beauty Products Market is valued approximately at USD 91.99 billion in 2022 and is anticipated to grow with a growth rate of more than 9.50% over the forecast period 2023-2030. The K-beauty products market refers to the global market for beauty and skincare products that originate from South Korea. K-beauty, short for Korean beauty, has gained widespread recognition and popularity due to its innovative formulations, unique ingredients, and emphasis on skincare routines.
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The major driving factors for the Global K-beauty Products Market are rising influential marketing and growing disposable income. Moreover, rising personal care industry and growing e-commerce industry is creating lucrative growth opportunity for the market over the forecast period 2023-2030.
According to the Korean National Statistical Office, the online sales of cosmetics in South Korea totaled USD 9.6 billion in 2021, reflecting a 1.6 percent decrease compared to the previous year. However, despite this slight decline, the personal care market is still projected to experience growth in developing nations, presenting significant potential for the market to flourish in the forecast period. However, the high cost of K-beauty Products stifles market growth throughout the forecast period of 2023-2030.
The key regions considered for the Global K-beauty Products Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. The Asia-Pacific region is dominating over the forecast period, including countries such as China, Japan, and India which have emerged as a key market for K-beauty products. In China, there is a growing interest in K-beauty skincare routines and products, particularly among younger consumers. Japan has a strong consumer base for skincare and makeup products, and K-beauty brands have gained popularity for their unique formulations.
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India has also seen an increase in demand for K-beauty products, driven by rising awareness and a preference for natural and holistic skincare. The K-beauty trend has made a significant impact in North America, particularly in the United States. American consumers have shown great interest in K-beauty products due to their innovative ingredients, advanced skincare technologies, and effective results. Many K-beauty brands have expanded their presence in the region through partnerships with retailers and online platforms.
Major market player included in this report are:
BANILLA CO
AMOREPACIFIC
The Creme Shop
Themis Solutions Inc. (Clio)
CARVER KOREA CO. (Unilever)
Able C&C
The Face Shop, Inc.
Nature Republic Co. Ltd
TolyMoly Co. Ltd
LG Household & Health Care Ltd.
Recent Developments in the Market:
In July 2022, Saturday Skin, a skincare brand, joined forces with Nykaa to strengthen its footprint in the Indian market. The collaboration aimed to provide a wide range of Saturday Skin skincare products through the Nykaa website and mobile app.
In November 2022, L’Oreal unveiled the introduction of a new line called C-Beauty, K-Beauty, and J-Beauty, created in collaboration with Shihyo, a Korean brand. This product range incorporates 24 herbal ingredients that have been infused with fermented rice and other innovative Asian techniques.
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The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
The detailed segments and sub-segment of the market are explained below:
By Product:
Skin Care
Hair Care
By End-user:
Men
Women
By Distribution Channel:
Supermarkets and Hypermarkets
Specialty stores
Online
Pharmacies
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By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa
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Key Questions Answered in The Report:
- What are the strengths and weaknesses of the key vendors?
- Who are the Leading key gamers and what are their Key Business plans in the close to future?
- What will be the market increase price and measurement in the coming year?
- What are the principal key elements riding the market?
- What are the key market tendencies impacting the increase of the world Market?
- Which are Trending elements influencing the market shares of the pinnacle areas throughout the globe?
- Who are the key gamers and what are their strategies in the international Market?
- What are the market opportunities and threats confronted by using the carriers in the world Market?
- What industrial trends, drivers, and challenges are manipulating its growth?
- What are the key consequences of the 5 forces evaluation of the world industry?
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(*Note: The historical years and projected period in the report are flexible and can be tailored upon request. Additionally, the scope of the published report is adjustable to meet specific requirements, and customized analyses based on particular geographies or countries can be included as part of the customization.)
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