South Korea Cosmetics Market Growth, Trends, and Forecast 2024-2032
South Korea Cosmetics Market Overview
Base Year: 2023
Historical Years: 2018-2023
Forecast Years: 2024-2032
Market Growth Rate: 5.50% (2024-2032)
The rising demand for high-quality cosmetics, as people are seeking products with skincare properties, represents one of the key factors supporting the market growth in South Korea. According to IMARC Group, South Korea cosmetics market size is projected to exhibit a growth rate (CAGR) of 5.50% during 2024-2032.
South Korea Cosmetics Industry Trends and Drivers:
The rising demand for high-quality cosmetics, as people are seeking products with skincare properties, represents one of the key factors supporting the market growth in South Korea. This trend is encouraging companies to invest in research and development (R&D) activities and introduce multifunctional products that combine makeup and skincare. Beauty influencers are creating engaging content on social media showcasing the effectiveness of various cosmetics, shaping user preferences, and making it easier for others to discover and try new items.
This digital landscape is also facilitating direct-to-consumer (D2C) sales, which is allowing brands to connect with their audience more effectively and personalize marketing strategies. In addition, the growing interest in Korean beauty (K-beauty) due to its innovative formulations, unique ingredients, and emphasis on skincare, is resonating with domestic and international people. Brands are capitalizing on this trend by expanding their product offerings in the country and targeting foreign regions, thereby strengthening the growth of the market in the country,
Moreover, the increasing awareness among the masses about environmental issues is driving the demand for sustainable products. Individuals are inclined towards cosmetics that are cruelty-free, eco-friendly, and made with natural ingredients. In response, brands are reformulating products, adopting sustainable packaging, and transparently communicating their sourcing and production processes to meet modern needs.
Besides this, online shopping platforms are providing people with convenient access to a wide range of products, which is positively influencing the market in South Korea. Many brands are enhancing their online presence through engaging websites and social media channels, offering promotions and personalized shopping experiences. This trend is making it easier for consumers to purchase cosmetics from the comfort of their homes, resulting in better market reach.
Furthermore, the growing focus on self-care and wellness is catalyzing the demand for cosmetic products promoting beauty and mental well-being. Manufacturers are focusing on holistic approaches and innovating their product lines, including cosmetics that encourage relaxation, mindfulness, and personal expression, thereby stimulating market growth in the country.
Download sample copy of the Report: https://www.imarcgroup.com/south-korea-cosmetics-market/requestsample
South Korea Cosmetics Industry Segmentation:
The report has segmented the market into the following categories:
Product Type Insights:
- Skin and Sun Care Products
- Hair Care Products
- Deodorants and Fragrances
- Makeup and Color Cosmetics
- Others
Category Insights:
- Conventional
- Organic
Gender Insights:
- Men
- Women
- Unisex
Distribution Channel Insights:
- Supermarkets and Hypermarkets
- Specialty Stores
- Pharmacies
- Online Stores
- Others
Regional Insights:
- Seoul Capital Area
- Yeongnam (Southeastern Region)
- Honam (Southwestern Region)
- Hoseo (Central Region)
- Others
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
- Amorepacific Corporation
- Banila Co.
- CLUBCLIO Co. Ltd.
- Dr. Jart+
- L'Oréal S.A.
- PFD Co. Ltd.
- S&P Cosmetic Co. Ltd.
- The Face Shop (LG Household & Health Care)
- Unilever Plc
Key highlights of the Report:
- Market Performance (2018-2023)
- Market Outlook (2024-2032)
- COVID-19 Impact on the Market
- Porter’s Five Forces Analysis
- Strategic Recommendations
- Historical, Current and Future Market Trends
- Market Drivers and Success Factors
- SWOT Analysis
- Structure of the Market
- Value Chain Analysis
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
About Us:
IMARC Group is a global management consulting firm that helps the world’s most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.
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