IMARC Group, a leading market research company, has recently released a report titled "K-Beauty Products Market Report by Product Type (Sheet Masks, Cleansers, Moisturizers, Makeup, and Others), Distribution Channel (Online Retail, Supermarket/Hypermarket, Specialty/Monobrand Stores), End User (Male, Female), and Region 2024-2032". The study provides a detailed analysis of the industry, including the k-beauty products market trends, size, share and growth forecast. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
The global K-beauty products market size reached US$ 13,434.6 Million in 2023. Looking forward, IMARC Group expects the market to reach US$ 30,731.8 Million by 2032, exhibiting a growth rate (CAGR) of 9.34% during 2024-2032.
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Factors Affecting the Growth of the K-Beauty Products Industry:
- Emphasis on innovative product formulations
K-Beauty brands are renowned for their cutting-edge ingredients and unique formulations that often incorporate natural and exotic elements. Ingredients like snail mucin, bee venom, and fermented rice water are commonplace in K-Beauty products, offering novel benefits and textures that differentiate them from conventional beauty products. This innovation extends to product types and formats, such as multi-step skincare routines that include essences, ampoules, and sheet masks. The continual introduction of new and effective formulations keeps consumers engaged and curious, driving sustained interest and repeat purchases. The emphasis on scientific research and development (R&D) within the K-Beauty industry ensures that products are trendy and deliver tangible results, thus supporting the market expansion.
- Influence of Korean pop culture
The global reach of K-pop music, Korean dramas (K-dramas), and Korean celebrities have played a pivotal role in popularizing K-beauty products worldwide. Celebrities and influencers frequently endorse these products, showcasing their flawless skin and endorsing their beauty routines through various media platforms. This has created a powerful aspirational image associated with K-Beauty, where consumers seek to emulate the skincare and beauty practices of their favorite Korean stars. Social media platforms like Instagram, YouTube, and TikTok have amplified this trend, with beauty influencers and vloggers sharing reviews, tutorials, and skincare routines that feature K-Beauty products. The viral nature of these platforms allows trends to spread quickly, reaching a global audience is bolstering the market reach.
- A strong focus on skincare and holistic beauty
Unlike many Western beauty markets that have traditionally emphasized makeup, K-Beauty prioritizes skincare and the notion of achieving healthy, glowing skin as the foundation of beauty. This philosophy resonates with consumers who are increasingly prioritizing skin health over cosmetic coverage. The multi-step skincare routine promoted by K-Beauty, which includes cleansing, exfoliating, toning, moisturizing, and protecting the skin, appeals to those looking for comprehensive skincare solutions. Moreover, K-Beauty products often emphasize hydration, anti-aging, and skin barrier protection, addressing a wide range of skin concerns. This holistic approach to beauty, which considers overall skin health and well-being, aligns with the growing consumer trend towards wellness and self-care and is providing an impetus to the market reach.
K-Beauty Products Market Report Segmentation:
By Product Type:
- Sheet Masks
- Cleansers
- Moisturizers
- Makeup
- Others
Sheet masks account for the majority of shares because they offer convenient, effective, and diverse skincare solutions for various skin concerns.
By Distribution Channel:
- Online Retail
- Supermarket/Hypermarket
- Specialty/Monobrand Stores
Specialty/mono-brand stores dominate the market due to their curated shopping experience and exclusive, high-quality product offerings.
By End User:
- Male
- Female
Females represent the largest segment because they prefer comprehensive and effective skincare routines.
Regional Insights:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Asia Pacific enjoys the leading position due to the cultural emphasis on skincare and the high awareness and demand for K-Beauty products.
Global K-Beauty Products Market Trends:
The increasing demand for cruelty-free and eco-friendly beauty products is impelling the market growth. Concurrently, Korean brands' commitment to ethical sourcing and sustainable packaging resonates with environmentally conscious consumers, attracting a segment of the market that prioritizes responsible consumption and supports brands that align with their values, strengthening the market growth. Besides this, k-beauty brands offer customizable products and regimens tailored to individual skin types and concerns, catering to the increasing consumer demand for personalized and effective skincare experiences is contributing to the market expansion.
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Top Companies Operated in K-Beauty Products Industry:
- Able C & C Ltd.
- Adwin Korea Corporation
- Amorepacific Corporation
- CLIO COSMETICS Co. Ltd.
- Cosrx Inc.
- LG H&H Co. Ltd. (LG Coproration)
- The Crème Shop Inc.
- The Face Shop Inc.
- Tonymoly Co. Ltd.
Key Highlights of the Report:
- Market Performance (2018-2023)
- Market Outlook (2024-2032)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.
About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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