K-beauty products market was assessed at $ 10.3 billion in 2021 and is anticipated to reach over $ 20.8 billion by 2026, developing with a CAGR of 11.3% between 2021 and 2026.
K-beauty products focus on well-being and health. The products are made with natural ingredients clearly labeled on their packaging. K-beauty focuses primarily on skincare while ensuring that its products are attractive and affordable. Korean beauty brands are continuously developing to embrace new innovations, especially in terms of raw materials. The use of snail slime, bee venom, starfish extract, pork collagen, and morph masks are some of the unique ingredients used to produce K-beauty products. The K-beauty industry is becoming a more and more lucrative business for cosmetics companies due to its high product margin, which makes it more profitable for beauty companies.
The increased awareness of the benefits and uniqueness of K-Beauty products among consumers all over the world is creating an excellent opportunity for expansion among players in the K-Beauty product market. Customers invest in beauty products from South Korea. This makes the market more attractive and promising for the future of the K-Beauty product industry.
• In December 2019, Sisun International, the company behind South Korean clothing retailer Michaa, launched its new brand of sunscreen and hopes to expand its business in the cosmetics market. It is the company's second cosmetic brand.
• In November 2019, the Estée Lauder Companies acquired a K-beauty skincare brand, Dr. Jart +. The brand is focused on creating high-quality skincare products that merge incredible capabilities for innovation, dermatological science, and artistic expression, making them a great strategic addition to the company's diverse portfolio of prestigious beauty brands.
K-beauty products Market growth and trends:
• By product type, the aluminum face mask segment accounted for the largest share of K beauty products in 2019, due to its wide demand among customers for affordable and fast-acting products. These products can inform various skin conditions such as hydration, firming, brightening, softness, and maintaining the beauty and health of the skin. Therefore, due to their affordability and ease of use, sheet masks have taken the largest share of the K-Beauty product market.
• The specialized and single-brand stores estimate the highest market share among the other channels, with consumers who buy beauty products favoring personalized service and advice.
K-beauty products Market Drivers and Restraints:
The increased consumption of cosmetics among women due to the increase in the number of women participating in social and economic activities has created a strong positive impact in the market for K-Beauty products. There is an increased demand for high-end, high-priced cosmetics as a result of rising income. These factors are cumulatively driving the market for K-beauty products globally. In addition, K-beauty products serve not only cosmetics for women but also beauty products for men. Therefore, the launch of new products for men's cosmetics, which target and help his skin problems, further drive the growth of the K-Beauty products market.
One of the most important elements of the worldwide popularity of K beauty products is the influence of social media. Advertisements and tutorial videos through online platforms such as Facebook and Instagram have generated great influence with viewers, which in turn has fueled the growth of the K-Beauty product market.
However, the rise of veganism may have a negative impact on the growth of K-Beauty products. The increase in the number of conscious consumers, especially in regards to sustainability, environmental impact, and animal welfare, is holding back the growth of the market.
Market Size Available
2021 – 2026
2021 - 2026
Product type, end-user, Distribution channel, Region
Various Analyses Covered
Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities
North America, Europe, APAC, Latin America, Middle East & Africa
Market Leaders Profiled
ABLE C&C CO., Ltd., Adwin Korea Corp, Annie's Way International Co., Ltd., The Beauty Factory, Ltd., Bluehug, Inc., BNH Cosmetics, Ceragem Health and Beauty Co, Ltd., CK Beauty Enterprise Inc., LG Household & Health Care and Amorepacific Corporation.
The global market for K-Beauty products is segmented by product type, end-user, distribution channel, and region.
The product type segment includes masks, cleansers, moisturizers, makeup, and others. Among these, the mask segment had the highest share of K-beauty products in 2018 as they satisfy consumer desires for affordable, fast-acting products. These products can treat different skin conditions, such as firming, hydrating, soothing, brightening, and helping to maintain the beauty and health of the skin. Therefore, due to their convenience of use and affordability, sheet masks have gained a significant share in the K beauty products market.
On the basis of the distribution channel, the market is classified into online retailers, supermarkets\hypermarkets, specialty\single brand stores, and others. Specialty and single-brand stores represent the largest market share among all channels, as consumers who buy beauty products prefer personalized service and advice. Specialty stores offer valuable customer advice, after-sales service, deals, promotions, and other similar strategies that make them highly preferred by consumers. However, due to the ease of purchase and convenience, the online retail segment is expected to experience the fastest growth during the K-Beauty product market forecast period.
According to the end-user, the market is classified into men and women. Of these, women are major contributors to the worldwide market.
Geographically, the global k-beauty products market is analyzed in the regions
Asia-Pacific holds the highest share in the K-beauty products market. This is mainly attributed to the presence of the largest consumers of these beauty products that are from Asian countries like China, Hong Kong, India, and South Korea.
Key market players:
Major players in the global K-Beauty industry analyzed in this report include ABLE C&C CO., Ltd., Adwin Korea Corp, Annie's Way International Co., Ltd., The Beauty Factory, Ltd., Bluehug, Inc., BNH Cosmetics, Ceragem Health and Beauty Co, Ltd., CK Beauty Enterprise Inc., LG Household & Health Care, and Amorepacific Corporation.
1.1 Market Definition
1.2 Scope of the report
1.3 Study Assumptions
1.4 Base Currency, Base Year and Forecast Periods
2. Research Methodology
2.1 Analysis Design
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Data Modelling
2.2.4 Expert Validation
2.3 Study Timeline
3. Report Overview
3.1 Executive Summary
3.2 Key Inferencees
4. Market Dynamics
4.1 Impact Analysis
4.2 Regulatory Environment
4.3 Technology Timeline & Recent Trends
5. Competitor Benchmarking Analysis
5.1 Key Player Benchmarking
5.1.1 Market share analysis
5.1.3 Regional Presence
5.2 Mergers & Acquistion Landscape
5.3 Joint Ventures & Collaborations
6. Market Segmentation
6.1 K-beauty Products Market, By Product Type
6.1.1 Sheet Masks
6.1.5 Market Size Estimations & Forecasts (2021-2026)
6.1.6 Y-o-Y Growth Rate Analysis
6.1.7 Market Attractiveness Index
6.2 K-beauty Products Market, By End-User
6.2.3 Market Size Estimations & Forecasts (2021-2026)
6.2.4 Y-o-Y Growth Rate Analysis
6.2.5 Market Attractiveness Index
6.3 K-beauty Products Market, By Distribution Channel
6.3.1 Online Retail
6.3.3 Specialty/Monobrand Stores
6.3.4 Market Size Estimations & Forecasts (2021-2026)
6.3.5 Y-o-Y Growth Rate Analysis
6.3.6 Market Attractiveness Index
7. Geographical Landscape
7.1 Global Identity Governance and Administration Market, by Region
7.2 North America - Market Analysis (2021- 2026)
7.2.1 By Country
7.2.2 By Product Type
7.2.3 By End-User
7.2.4 By Distribution Channel
7.3.1 By Country
126.96.36.199 Rest of Europe
7.3.2 By Product Type
7.3.3 By End-User
7.3.4 By Distribution Channel
7.4 Asia Pacific
7.4.1 By Country
188.8.131.52 South Korea
184.108.40.206 South East Asia
220.127.116.11 Australia & NZ
18.104.22.168 Rest of Asia-Pacific
7.4.2 By Product Type
7.4.3 By End-User
7.4.4 By Distribution Channel
7.5 Latin America
7.5.1 By Country
22.214.171.124 Rest of Latin America
7.5.2 By Product Type
7.5.3 By End-User
7.5.4 By Distribution Channel
7.6 Middle East and Africa
7.6.1 By Country
126.96.36.199 Middle East
7.6.2 By Product Type
7.6.3 By End-User
7.6.4 By Distribution Channel
8. Key Player Analysis
8.1 ABLE C&C CO., Ltd.
8.1.1 Business Description
8.1.4 SWOT Analysis
8.1.5 Recent Developments
8.1.6 Analyst Overview
8.2 Adwin Korea Corp
8.3 The Beauty Factory, Ltd
8.4 Bluehug, Inc
8.5 Ceragem Health and Beauty Co, Ltd
8.6 BNH Cosmetics
8.7 Annie's Way International Co., Ltd
8.8 CK Beauty Enterprise Inc
8.9 LG Household & Health Care
8.10 Amorepacific Corporation
9. Market Outlook & Investment Opportunities
List of Tables
List of Figures