Market Overview:

The global K-beauty products market was assessed at $ 9.3 billion in 2018 and is predicted to arrive at $ 21.8 billion by 2026, developing with a CAGR of 11.3% over the outlook period from 2019 to 2026.

Over the past few decades, Korea has become a global beauty phenomenon, it is commonly known for its personal care data sets. K-beauty products are more focused on health and hydration that nourish the skin from the inside out, rather than using them to cover imperfections with makeup. These products are known as cosmeceuticals with bioactive ingredients that are believed to have medicinal benefits. Furthermore, k-products is one of the only Korean products in the world to offer functional cosmetics because functional cosmetics are subject to more stringent evaluations than general cosmetics. Celebrity looks are spreading rapidly through online beauty shows and television and are quickly becoming a huge consumer trend for K-Beauty products.

Recent Developments:

Korean cosmetics company Able C&C, which functions under the name of Missha brand, has recently introduced all-in-one online store known as My NUNC.Com.

Market Drivers and Restraints:

The increase in the consumption of cosmetics among women due to the increase in the number of female participations in social and economic activities has created a strong positive impact on the market for K-beauty products. There is an increased demand for high-end, high-priced cosmetics as income levels rise. These factors are cumulatively driving the market for K beauty products around the world. In addition, K-beauty products are not only cosmetic products for women, but also beauty products for men. Therefore, the launches of new products for men's cosmetics, which target and help their skin problems, further stimulate the growth of the K cosmetics market. One of the most important elements of the worldwide popularity of K products. On the contrary, the rise of veganism has resulted in a negative impact on the development of K-Beauty products. The increasing number of conscious consumers, especially when it comes to sustainability, environmental impact and animal welfare, is holding back the growth of the market.

Impact of COVID-19:

During the coronavirus crisis, cultivating good hygiene habits has become a priority, and these habits will stick with consumers in the long term. This means that more emphasis will be placed on packaging products with “hygienic” designs, that is, products that will not be unnecessarily exposed to the environment and fingers when packaging. This trend will also require more disinfectants.

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Report is segmented as:

By Product Type

Sheet Masks
Cleansers 
Moisturizers
Makeup 
Others 
By product type, the sheet masks segment accounted for the largest share in 2018 and the fastest growing cleansers segment will record a CAGR of 11.8% between 2019 and 2026.

By End User

Male
Female
On an end-user basis, the female segment accounted for about 69% of the market share in 2018. However, the male segment is supposed to grow at a CAGR of 12.1% over the conjecture period.

By Distribution Channel

Online Retail
Supermarket/Hypermarket
Specialty/Monobrand Stores
Based on the distribution channel, the specialty stores segment accounted for around 58% of the market share in 2018. However, the online retail segment is estimated to record the fastest growth with a CAGR of 13% in 2018 during the envisioned period. 

Geographical segmentation:

Based on geography, the global k-beauty products market is divided into regions of Asia Pacific, Latin America, North America, Europe, the Middle East and Africa. Among these, Asia-Pacific accounted for around 70% of the market by share and is supposed to grow at a CAGR of 11.1%.

Key market players:

Able C&C Co., Ltd. (South Korea), Adwin Korea Corp. (South Korea), Annie’s Way International Co., Ltd. (China), The Beauty Factory, Ltd. (United Kingdom), Bluehug, Inc., (South Korea), Bnh Cosmetics (South Korea), Ceragem Health and Beauty Co, Ltd. (South Korea), Ck Beauty Enterprise Inc., Lg Household & Health Care (South Korea), Dr. Jart+ (South Korea) and Amorepacific Corporation (South Korea).

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Scope of the report:

The report offers a comprehensive examination of the industry by providing the estimations of market potential and forecasts with utmost granularity. Along this, the factors influential in influencing the market dynamics and trends discussed in detail at the product level. Further, the performance of the market at the regional and country-level had assessed and the prospects with huge growth potential identified and debated.

The key players in the industry are profiled giving insights on their financial performance, market position and growth strategies. Comparative analysis on prime strategically activities of the market players delineating the key developments like mergers & acquisitions, collaborations and an evaluation of the competitive environment within the industry had provided. The report also provides a broad outlook of the current market along with recommendations from industry experts on the opportunities for investment activity.

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