K-Beauty Products Market
Industry: Consumer Goods
Published Date: November-2024
Format: PPT*, PDF, EXCEL
Delivery Timelines: Contact Sales
Number of Pages: 188
Report ID: PMRREP34931
The global k-beauty products market is anticipated to reach a value of US$ 99.1 Bn by 2024. It is predicted to witness a CAGR of 8% during the assessment period to reach a value of US$ 198.3 Bn by 2031.
K-beauty has solidified its position as a prominent segment in the global beauty and personal care industry in recent years. Korean beauty trends are highly influencing the demand for skincare, haircare, and makeup products across the globe.
K-beauty brands are looking to broaden their operations in new regions to reach a wide audience. For instance, Blymont Kids, the operator of India’s K-beauty platform ‘Macaron’ is set to open a K-beauty experience macaran flagship store in India by February 2025.
K-beauty products have been at the forefront of innovation in terms of skincare, haircare, and cosmetic products. It is attributed to the introduction of unique ingredients like propolis, snail mucin, and green tea.
The shift toward clean, natural, and cruelty-free items has been a key factor augmenting demand for K-beauty products. Rising demand for skin-centric products that emphasize minimalistic ingredients and effective skincare have further propelled the adoption of Korean beauty products.
Key Highlights of the Market
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Market Attributes |
Key Insights |
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Market Size (2024E) |
US$ 99.1 Bn |
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Projected Market Value (2031F) |
US$ 198.3 Bn |
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Global Market Growth Rate (CAGR 2024 to 2031) |
8% |
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Historical Market Growth Rate (CAGR 2019 to 2023) |
6.5% |
India is witnessing a cultural shift in K-beauty products and is estimated to witness a CAGR of 7.5% through 2031. Skincare products like sheet masks, serums, toners, and essences are resonating with consumers in India as they move toward a holistic and self-care-centric approach to beauty. The 10-step Korean skincare routine is particularly gaining traction in the country.
Several global K-beauty brands are offering local consumers with affordable entry points. Laneige, Etude House, COSRX, and Innisfree have localized pricing and are available on leading e-commerce platforms like Amazon India, Flipkart, Myntra, and Nykaa.
K-beauty brands are further creating products that are tailored to the country’s market as local adoption assists in boosting their appeal. For instance, Innisfree introduced sunscreen and oil-free moisturizers that cater to the country’s hot and humid climate.
Prominent Korean beauty retailers like The Face Shop are extending their physical presence in metro cities of India, including Mumbai, Bengaluru, and Delhi, further cementing the popularity of K-beauty. Salons and spas in India are also offering Korean beauty treatments, thereby helping consumers to experience the benefits of K-beauty.
The K-beauty products market in the U.S. is expected to witness steady growth at a CAGR of 4.6% throughout the assessment period. This is due to the immense popularity of the ‘glass skin’ trend, which is promoted by K-beauty, particularly among the Gen Z demographics. The country has a rising demand for inclusive beauty products that fit various skin tones and types, leading K-beauty brands to extend their product ranges.
Prominent brands like Missha and Laneige are focusing on introducing shades that suit a broader spectrum of skin tones as it is crucial in a diverse market like the U.S. Innovative K-beauty tools like LED masks, facial rollers, and microcurrent devices are gaining traction in the U.S. as these are generally promoted as a part of a complete skincare routine. These are hence seen as the next frontier for the U.S. K-beauty market.
The rising popularity of self-care and wellness trends has further resulted in consumers seeking at-home skincare treatments. K-beauty brands are tapping into this demand by introducing products like overnight hydrating masks, peels, and sheet masks that provide spa-like experience at home.
| Category | Market Share in 2024 |
| Product - Skincare | 67.8% |
Korean skincare products are witnessing robust demand as they meticulously follow the clean beauty movement that promotes the use of non-toxic, natural, and cruelty-free ingredients in the products. Brands using eco-friendly ingredients in their skincare products like biodegradable cellulose in sheet masks or refillable product options are estimated to witness a rising demand due to the growing popularity of sustainable skincare lines.
Fermented ingredients are the cornerstone of K-beauty skincare products as they are believed to improve efficacy of the ingredient along with skin absorption. Skincare products containing ingredients like yeast extract, fermented rice, and bifida ferment lysate are estimated to witness high popularity for their anti-aging and antioxidant properties. Skincare products especially designed to strengthen the skin barrier, like products containing cica (Centella Asiatica), ceramides, and panthenol gaining popularity, specifically for sensitive and compromised skin.
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Category |
Market Share in 2024 |
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End User- Women |
65.7% |
Women continue to dominate the consumer base for K-beauty products in terms of end user. This is because several trends in the skincare and cosmetics space align with the evolving preference and increasing awareness regarding beauty innovations across the globe. Women are drawn to products that offer multiple benefits.
K-beauty has several multifunctional products like BB creams with SPF and hydration, essences that hydrate, brighten, and soothe, and moisturizers with anti-aging benefits. As women across the globe adopt holistic skincare routines, products combining anti-aging, hydrating, and brightening properties are likely to gain popularity.
The emphasis on self-care, wellness, and mental health in recent years has led to women investing high amounts in their skincare routines. K-beauty products promoting relaxation, de-stressing, and skin health are hence particularly becoming attractive to women globally.
Women in their 40s and 50s are seeking skincare that addresses aging concerns like dullness, wrinkles, fine lines, and loss of elasticity. To capitalize on this trend, K-beauty brands are offering specialized anti-aging solutions that include collagen, retinol, vitamin C, and peptides which are specifically formulated for mature skin.
Representing a fusion of innovative skincare and beauty products originating from South Korea, the K-beauty products market is well positioned for significant growth. It is due to the rising global demand for beauty products worldwide.
Modern consumers are rapidly shifting to effective, sustainable, and ingredient-focused solutions. As skincare savvy consumers are becoming aware of the products they use, there is a skyrocketing demand for ethical and sustainably sourced products.
The cultural influence of K-pop and K-drama continues to play a key role in the global popularity of Korean skin care sets. Korea-based celebrities have become powerful beauty icons as they endorse a variety of skincare and makeup products through their professional as well as personal lives. This drives a robust desire among consumers for K-beauty items, especially among the younger demographics.
The K-beauty products market growth remained steady at a CAGR of 6.5% during the historical period. The industry gained substantial traction in the prominent international markets where these products were appreciated for their cutting-edge formulations. High focus on skincare and modern packaging also augmented demand. Rise of digital platforms further enabled K-beauty products to get greater visibility.
The COVID-19 pandemic had both positive and negative impact on the beauty industry. There was a surge in demand in skincare and self-care as consumers spent time at home. K-beauty’s emphasis on skin health, multi-step skincare routines, and natural ingredients solidified its position in the global beauty industry.
The pandemic led lockdowns, however, led to supply chain interruptions and distribution issues. The skincare category emerged as the leading segment in the industry as consumers demanded long-term skin benefits. K-beauty brands continued to innovate and extend their product lines with specific formulations.
Booming E-commerce and Social Media Marketing to Fuel Growth
The rapid rise of social media platforms and e-commerce has been instrumental in the expansion of the k-beauty industry. Online platforms like Soko Glam and YesStyle along with e-commerce retail platforms like Amazon and Sephora have made it easier for global consumers to gain access to k-beauty products. Social media platforms, including YouTube, TikTok, and Instagram play a crucial role in promoting beauty trends as beauty bloggers and influencers create viral content that drives product awareness and sales.
Affordability and Accessibility to Boost Adoption
K-beauty products are usually priced more competitively compared to products from luxury western beauty brands, thereby making these easily accessible to a broader audience. Affordability, combined with high-quality formulations, has helped K-beauty brands get a substantial share in mature as well as emerging markets.
Regulatory Challenges May Limit Adoption in the U.S. and Europe
The Korean beauty products market faces strict regulatory requirements from different countries. The U.S. and Europe markets, for example, subject skincare products to stringent safety and labeling regulations. It is likely to delay product launches while increasing compliance costs. Continuous emergence of new regulations related to ingredients and claims, especially around clean beauty and sustainability, will require ongoing adaptation from brands, thereby becoming a barrier to quick market entry.
Brands to Focus on Personalized and Customized Beauty Products
The beauty industry is witnessing a rising demand for personalized skincare solutions as consumers are progressively seeking products that are tailored to their individual skin concerns. K-beauty brands are hence leveraging AI-powered skin diagnostics and data driven personalization to provide customized skincare regimens. This includes creating targeted products for particular skin issues like sensitivity, pigmentation, and acne. K-beauty brands are building a deeper consumer loyalty and increasing their sales by integrating technology to provide personalized beauty experiences.
Companies Extend Presence to Makeup, Haircare, and Wellness
While skincare remains a dominant segment, K-beauty brands have an opportunity to expand into other product categories like wellness, makeup, and haircare. K-beauty’s reputation for innovative formulations and natural ingredients can easily translate in these segments. Rising interest in clean haircare, beauty supplements, and anti-aging makeup also presents fresh avenues for growth.
The market is filled with prominent players that have a strong foothold in the industry and have gained a considerable consumer base across the globe. The skyrocketing demand for k-beauty products have turned South Korea in one of the top industrial hubs for beauty products.
Companies are using social media platforms to promote their products and influence consumers across the globe. Rising number of beauty influencers and content creators that illustrate step-by-step skincare and makeup regimes assists in augmenting the demand for K-beauty products.
Recent Industry Developments
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Attributes |
Details |
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Forecast Period |
2024 to 2031 |
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Historical Data Available for |
2019 to 2023 |
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Market Analysis |
US$ Billion for Value |
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Key Regions Covered |
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Key Market Segments Covered |
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Key Companies Profiled in the Report |
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Report Coverage |
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Customization and Pricing |
Available upon request |
By Product
By End User
By Distribution Channel
By Region
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The market is set to reach a size of US$ 198.3 Bn by 2031.
K-beauty products are affordable because of the competitive nature of the beauty industry.
Korean skincare is popular as it encourages gentle techniques and ingredients that protect and repair the skin.
The market is estimated to register a robust CAGR of 8% from 2024 to 2031.
India is estimated to emerge as the leading country through 2031 with a CAGR of 7.5%.
