South Korea Cosmetics Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR (2024 - 2029) | 5.22 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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South Korea Cosmetics Market Analysis
The South Korea Beauty And Personal Care Products Market is expected to register a CAGR of 5.22% during the forecast period.
- South Korea is one of the fastest-changing beauty markets, introducing industry-leading innovations and globally setting trends. The current trend is the rise of do-it-yourself (DIY) beauty care. As a result, DIY hair coloring, nail care, and care in other K-beauty categories are fetching new customers within the country.
- Korean beauty start-ups have been able to break into the global market owing to the huge demand for K-beauty products. K-beauty product companies are investing more in packaging the product by making them more attractive and creative to highlight the attributes of the products. However, several companies are strategically acquiring K-Beauty start-ups and brands to stay on top of the current beauty market trends. Cleaner label products and claims, such as cruelty-free and eco-friendly, have been gaining more prominence in the market.
- The people in South Korea are attracted to their K-pop idols and follow every trend of their idols. The 2022 K-pop trends like glitter under the eyes, gradient lips, puppy eyes, and many more are attracting consumers in the region. Due to this, people are interested in having such makeup. These factors are driving the market. Also, K-pop idols and bands collaborate with beauty and personal care brands. This is further increasing the purchase of products.
- For instance, in October 2022, Amorepacific launched BTS I Amorepacific Lip Sleeping Mask Lip & Pop limited edition. The lip mask claims to keep the lips smoother and plumper by managing dead skin cells on the lips and moisturizing them.
South Korea Cosmetics Market Trends
Growing Demand for Halal Cosmetics
- Halal-certified natural cosmetics were initially made particularly for the communities that follow Islamic laws, but currently, many are opting for these because of their properties. More than a religious belief, halal beauty is a lifestyle. The popularity of clean, organic, and vegan beauty has led to a rise in conscious cosmetics consumers, giving halal beauty a place to thrive. In addition, the growing health concerns due to the harmful effects of artificial ingredients used in manufacturing beauty products have been attributed to the increasing demand for halal cosmetics in South Korea among non-Muslim women.
- JNH Cosmetics was the first company in Korea to provide completely Halal-Certified cosmetic products manufactured in Korea specifically for the Muslim community. In addition, the Certification of Korean cosmetics is on the rise, aided by the number of halal certification bodies (HCBs) in the country.
- International bodies also recognize it, and the government is pushing exports to the Organization of Islamic Cooperation (OIC) countries, thus, making South Korea a major market for halal cosmetics, which, in turn, may boost the market studied. The natural label claims of beauty products in this country have played a decisive role in the country's growth.
Increased Inclination Toward Hair Care Products
The skincare segment has witnessed significant growth in the South Korean beauty and personal care market. The hair care segment is also gaining momentum with products such as shampoos, conditioners, hair masks, and hair serums. This is majorly due to the consumer's desire to maintain healthy hair.
The market is greatly influenced by innovation in packaging and design. The growth of retail and e-commerce is helping expand the market further in the country. Additionally, consumers are demanding hair care products specifically targeted towards a particular hair care need, such as the desire of consumers to explore new looks. Thus, companies are producing more efficient formulations to fuel innovations in the haircare segment.
South Korea Cosmetics Industry Overview
The South Korean beauty and personal care products market comprises many regional and global players such as Amorepacific Corporation, Nature Republic, and The Face Shop Inc. Thus, the market witnesses high competition. Further, some major brands, such as Innisfree, Etude House, and Laneige are owned by the beauty and cosmetics conglomerate Amorepacific Corporation, which holds a prominent market share. Various players are entering the market to tap the market's untapped potential. Advanced distribution networks and manufacturing expertise give the manufacturers an edge in expanding their range of products across the country.
South Korea Cosmetics Market Leaders
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Amorepacific Corporation
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Nature Republic
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The Face Shop Inc.
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Clubclio.Co.Ltd
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Dr. Jart+
*Disclaimer: Major Players sorted in no particular order
South Korea Cosmetics Market News
- January 2022: The L'Oréal Group introduced Colorsonic and Copyright, two cutting-edge innovations in beauty technology for customers and hairstylists. Both are portable, light devices with color applications. Colorsonic is for consumer use and Copyright for hair salons.
- September 2022: Amorepacific announced the acquisition of a luxury clean beauty brand Tata Harper, a pioneer in natural luxury skin care. By acquiring the brand, Amorepacific will expand its products in the Americas and Europe.
- May 2021: Amorepacific launched a customized bath bomb service called 'Bathbot'. Customers can choose 14 types of bath bombs with different flavors and fragrances. The service will be available in Amore stores at various locations in Korea.
South Korea Cosmetics Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions and Market Definition
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
- 4.1 Market Drivers
- 4.2 Market Restraints
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4.3 Porter's Five Forces Analysis
- 4.3.1 Threat of New Entrants
- 4.3.2 Bargaining Power of Buyers/Consumers
- 4.3.3 Bargaining Power of Suppliers
- 4.3.4 Threat of Substitute Products
- 4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
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5.1 Product Type
- 5.1.1 Personal Care Products
- 5.1.1.1 Hair Care
- 5.1.1.1.1 Shampoo
- 5.1.1.1.2 Conditioner
- 5.1.1.1.3 Others
- 5.1.1.2 Skin Care
- 5.1.1.2.1 Facial Care Products
- 5.1.1.2.2 Body Care Products
- 5.1.1.2.3 Lip Care Products
- 5.1.1.3 Bath and Shower
- 5.1.1.3.1 Shower Gels
- 5.1.1.3.2 Soaps
- 5.1.1.3.3 Others
- 5.1.1.4 Oral Care
- 5.1.1.4.1 Toothbrush
- 5.1.1.4.2 Toothpaste
- 5.1.1.4.3 Mouthwashes and Rinses
- 5.1.1.4.4 Others
- 5.1.1.5 Men's Grooming Products
- 5.1.1.6 Deodrants and Antiperspirants
- 5.1.2 Cosmetics/Make-up Products
- 5.1.2.1 Facial Cosmetics
- 5.1.2.2 Eye Cosmetics
- 5.1.2.3 Lip and Nail Make-up Products
- 5.1.2.4 Hair Styling and Coloring
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5.2 Category
- 5.2.1 Premium Products
- 5.2.2 Mass Products
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5.3 Distribution Channel
- 5.3.1 Specialty Stores
- 5.3.2 Supermarkets/Hypermarkets
- 5.3.3 Convenience Stores
- 5.3.4 Pharmacies/Drug Stores
- 5.3.5 Online Retail Channels
- 5.3.6 Other Distribution Channels
6. COMPETITIVE LANDSCAPE
- 6.1 Most Adopted Strategies
- 6.2 Market Share Analysis
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6.3 Company Profiles
- 6.3.1 Amorepacific Corporation
- 6.3.2 Nature Republic
- 6.3.3 The Face Shop (LG Household & Health Care)
- 6.3.4 Banila Co.
- 6.3.5 Clubclio.Co.Ltd
- 6.3.6 Dr. Jart+
- 6.3.7 SON&PARK
- 6.3.8 PFD Co. Ltd
- 6.3.9 Unilever Plc
- 6.3.10 L'Oréal S.A.
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
South Korea Cosmetics Industry Segmentation
Beauty and personal care products are applied to the users on the human face and body in terms of beautifying, cleaning, makeup, and decorative cosmetics to enhance their appearance.
The South Korean beauty and personal care products market is segmented by product, category, and distribution channel. Based on product type, it is segmented into personal care products and cosmetics/makeup products. The personal care products are further segmented into hair care products, facial care products, shower gels, oral care, men's grooming products, and deodorants and antiperspirants. Cosmetics/makeup products are further segmented into facial cosmetics, eye cosmetics, lip and nail makeup products, and hair styling and coloring products. Based on category, the market is segmented into premium products and mass products. The market is segmented, based on distribution channels, into specialist retail stores, supermarkets/hypermarkets, convenience stores, pharmacies/drug stores, online retail channels, and other distribution channels.
For each segment, the market sizing and forecasts have been done based on value (in USD million).
| Product Type | Personal Care Products | Hair Care | Shampoo |
| Conditioner | |||
| Others | |||
| Product Type | Personal Care Products | Skin Care | Facial Care Products |
| Body Care Products | |||
| Lip Care Products | |||
| Product Type | Personal Care Products | Bath and Shower | Shower Gels |
| Soaps | |||
| Others | |||
| Product Type | Personal Care Products | Oral Care | Toothbrush |
| Toothpaste | |||
| Mouthwashes and Rinses | |||
| Others | |||
| Product Type | Personal Care Products | Men's Grooming Products | |
| Deodrants and Antiperspirants | |||
| Product Type | Cosmetics/Make-up Products | Facial Cosmetics | |
| Eye Cosmetics | |||
| Lip and Nail Make-up Products | |||
| Hair Styling and Coloring | |||
| Category | Premium Products | ||
| Mass Products | |||
| Distribution Channel | Specialty Stores | ||
| Supermarkets/Hypermarkets | |||
| Convenience Stores | |||
| Pharmacies/Drug Stores | |||
| Online Retail Channels | |||
| Other Distribution Channels |
South Korea Cosmetics Market Research FAQs
What is the current South Korea Beauty and Personal Care Products Market size?
The South Korea Beauty and Personal Care Products Market is projected to register a CAGR of 5.22% during the forecast period (2024-2029)
Who are the key players in South Korea Beauty and Personal Care Products Market?
Amorepacific Corporation, Nature Republic, The Face Shop Inc., Clubclio.Co.Ltd and Dr. Jart+ are the major companies operating in the South Korea Beauty and Personal Care Products Market.
What years does this South Korea Beauty and Personal Care Products Market cover?
The report covers the South Korea Beauty and Personal Care Products Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the South Korea Beauty and Personal Care Products Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
What are the key growth opportunities in the South Korea Cosmetics Market?
The key growth opportunities in the South Korea Cosmetics Market are a) Catering to diverse consumer groups like men, Gen Z, and environmentally conscious individuals opens up new market segments b) Partnering with pop-up stores, beauty subscription boxes, and travel retail outlets can expand brand visibility
South Korea Cosmetics Industry Report
The South Korea cosmetics market has undergone a remarkable transformation, which catalyzed the popularity of DIY beauty care. This trend, propelled by social media and influencers, has encouraged a shift towards homemade beauty solutions, contributing to market growth. Continuous innovation is at the heart of the market, with manufacturers developing new products that cater to consumer demands for effectiveness and natural ingredients, including BB creams and cushion-based compacts. The market, segmented into skincare, hair care, bath and shower, makeup, color cosmetics, and more, sees skincare products leading, driven by significant investment in beauty and personal care. There's a rising demand for eco-friendly, cruelty-free, and clean-labeled cosmetics packaging, reflecting growing environmental concerns and consumer awareness. Technological advancements like AI and AR are revolutionizing the beauty tech industry, offering personalized skincare recommendations and virtual try-on experiences. Despite its fast-paced and competitive nature, the South Korea cosmetics market presents ample opportunities for companies that can swiftly adapt to changing trends, emphasizing quality, regulatory compliance, and sustainability. Statistics for the South Korea Cosmetics Market share, size, and revenue growth rate, created by Mordor Intelligence™ Industry Reports. South Korea Cosmetics analysis includes a market forecast outlook and historical overview. Get a sample of this industry analysis as a free report PDF download.
