Despite the dominance of western cosmetics giants, the South Korean brands are gradually setting novel standards of beauty, driven especially by the global popularity of K-pop. A large number of people, irrespective of their gender, are capitalizing on beauty products originated from South Korea.
K-beauty products are manufactured using exceptional ingredients, which result into unique and desirable looks. For instance, the k-beauty products include raw materials derived from snail slime, bee venom, starfish extract, pig collagen, and morphing masks. The K-beauty industry is thereby progressively fetching a lucrative business for cosmetic companies owing to its high product margin, hence making it further profitable for beauty companies.
Korean beauty brands capitalize on their digital and e-commerce prowess in response to the rapid rise in demand from overseas markets. E-retailers such as Sokoglam and Peach & Lily have imported assorted Korean skin-care brands to the U.S. and expanded the market in international territory. Furthermore, global beauty retailers are setting up dedicated section on their webpages, which cater to Korean skincare brands.
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This enables to increase consumer awareness and is thereby a major driver of the K-beauty products market. In addition, K-beauty phenomenon has captured the attention of social media blogger influencers and journalists in the West. This has been regarded as an ingenious digital strategy applied by the K-beauty brands for driving popularity. However, the rise of veganism among consumers across the globe is expected to limit the growth of the K-beauty products market. Since Consumers are gradually becoming very conscious about sustainability, environmental impacts, and animal welfare. The K-beauty industry uses animal extracts. This hampers the market growth.
On the contrary, rise in awareness of the benefits and uniqueness of K-beauty products among consumers across the globe create vast opportunity for expansion among the K-beauty products industry players. New beauty trends and innovations, presenting sophisticated ingredients and appealing packaging can be viewed as an opportunity by the K-beauty manufactures for further growth and expansion.
The 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., F&Co. Co., Ltd., LG Household & Health Care, and AMOREPACIFIC CORPORATION.
Key Benefits for Stakeholders
• This report provides a quantitative analysis of the current K-beauty products market trends, estimations, and dynamics of the market size from 2019 to 2026 to identify the prevailing opportunity.
• The key countries in all the major regions are mapped based on their market share.
• Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier-buyer network.
• A comprehensive analysis of factors that drive and restrict the K-beauty products market growth is provided.
• An in-depth analysis of the market helps determine the prevailing market opportunities
• The report includes details of the analysis of the regional and global markets, key players, market segments, application areas, and growth strategies.
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Key Market Segments
• By Product Type
o Sheet Masks
• By End User
• By Distribution Channel
o Online Retail
o Specialty/Monobrand Stores
• By Region
o North America
§ Rest of Europe
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§ South-East Asia
§ Rest of Asia-Pacific
§ Middle East
§ Latin America