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Beauty Industry, Market Research

K-Beauty Saw Growth in 2022-2023

ReasearchAndMarkets.com released a new report analyzing the Korea Cosmetics market.

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By: Rachel Klemovitch

Assistant Editor

The Korea cosmetics market (K-Beauty) demonstrated growth from 2022-2023, owing to the country’s long-standing beauty tradition that values skincare and self-care activities. 
 
The Korea cosmetics market value stood at $6.57 billion in 2023 and is expected to reach $9.05 billion by 2029. The export value of the Korea cosmetics market was $7.65 billion in 2023. 
 
Also contributing to K-Beauty growth included a rapidly expanding e-commerce sector, increasing purchasing power, growing consumer preference for natural products, increase in consumption of cosmetics among men and women, rise in adoption of do-it-yourself (DIY) beauty care trend, and Korea’s increasing emphasis on research and development (R&D) activities.
 
With the introduction of ‘same-day’ and ‘early morning’ delivery services, increasing consumer emphasis on the use of high-quality ingredients, and rising awareness and acceptance of makeup among men, the K-Beauty market is expected to grow at a CAGR of 5.48% in the forecasted period of 2024-2029.
 
ReasearchAndMarkets.com recently published the “Korea Cosmetics (K-Beauty) Market: Analysis By Type, By Category, By Distribution Channel, By Exports, By Production, Size and Trends with Impact of COVID-19 and Forecast up to 2029.”
 
The report provides insight into the K-Beauty market, explaining that Korean cosmetics have an edge in the skincare area and a high demand for sensitive skin products among Korean consumers.
 
Companies featured in the report include:

 
See here for the full report. 
 

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