Market Size of South Korea Beauty And Personal Care Products Industry
| 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 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).
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| Category | |
| Premium Products | |
| Mass Products |
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| Specialty Stores | |
| Supermarkets/Hypermarkets | |
| Convenience Stores | |
| Pharmacies/Drug Stores | |
| Online Retail Channels | |
| Other Distribution Channels |
South Korea Beauty And Personal Care Products Market Size Summary
The South Korean beauty and personal care market is a dynamic and rapidly evolving sector, renowned for its innovative approaches and trend-setting capabilities on a global scale. The market is characterized by a significant shift towards do-it-yourself beauty care, with products in categories such as hair coloring and nail care gaining popularity. This trend is bolstered by the influence of K-pop idols, whose styles and collaborations with beauty brands drive consumer interest and purchasing behavior. The market is also witnessing a surge in demand for cleaner, eco-friendly, and cruelty-free products, reflecting a broader consumer preference for sustainable and ethical beauty solutions. The rise of K-beauty start-ups, coupled with strategic acquisitions by established companies, underscores the competitive landscape and the ongoing pursuit of market leadership through innovation and appealing product packaging.
In addition to these trends, the South Korean market is experiencing a growing interest in halal-certified cosmetics, driven by the increasing consumer demand for natural and organic beauty products. This shift is not only appealing to the Muslim community but also attracting non-Muslim consumers who are conscious of the potential harmful effects of artificial ingredients. The market's expansion is further supported by the growth of e-commerce and advanced distribution networks, enabling brands to reach a wider audience. Key players such as Amorepacific Corporation, Nature Republic, and The Face Shop Inc. dominate the market, with Amorepacific holding a significant share through its ownership of popular brands like Innisfree and Laneige. The introduction of innovative products and services, such as customized bath bombs and advanced beauty technology devices, highlights the ongoing commitment to meeting diverse consumer needs and preferences in this vibrant market.
South Korea Beauty And Personal Care Products Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Drivers
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1.2 Market Restraints
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1.3 Porter's Five Forces Analysis
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1.3.1 Threat of New Entrants
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1.3.2 Bargaining Power of Buyers/Consumers
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1.3.3 Bargaining Power of Suppliers
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1.3.4 Threat of Substitute Products
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1.3.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 Product Type
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2.1.1 Personal Care Products
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2.1.1.1 Hair Care
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2.1.1.1.1 Shampoo
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2.1.1.1.2 Conditioner
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2.1.1.1.3 Others
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2.1.1.2 Skin Care
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2.1.1.2.1 Facial Care Products
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2.1.1.2.2 Body Care Products
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2.1.1.2.3 Lip Care Products
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2.1.1.3 Bath and Shower
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2.1.1.3.1 Shower Gels
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2.1.1.3.2 Soaps
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2.1.1.3.3 Others
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2.1.1.4 Oral Care
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2.1.1.4.1 Toothbrush
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2.1.1.4.2 Toothpaste
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2.1.1.4.3 Mouthwashes and Rinses
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2.1.1.4.4 Others
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2.1.1.5 Men's Grooming Products
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2.1.1.6 Deodrants and Antiperspirants
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2.1.2 Cosmetics/Make-up Products
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2.1.2.1 Facial Cosmetics
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2.1.2.2 Eye Cosmetics
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2.1.2.3 Lip and Nail Make-up Products
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2.1.2.4 Hair Styling and Coloring
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2.2 Category
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2.2.1 Premium Products
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2.2.2 Mass Products
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2.3 Distribution Channel
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2.3.1 Specialty Stores
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2.3.2 Supermarkets/Hypermarkets
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2.3.3 Convenience Stores
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2.3.4 Pharmacies/Drug Stores
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2.3.5 Online Retail Channels
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2.3.6 Other Distribution Channels
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South Korea Beauty And Personal Care Products Market Size 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.
