Growth of K-Beauty Products Market Size Will Surpass USD 225.69 Billion By 2032, at 9.4% CAGR: Polaris Market Research
Polaris Market Research conducted a comprehensive research study spanning over [+110] pages, revealing that the global k-beauty products market size/share was valued at USD 92.16 Billion in 2022. The study further indicates that the market will grow at a compound annual growth rate (CAGR) of 9.4% and is projected to touch USD 225.69 Billion By 2032. Hair care segment expected to grow at the fastest rate, owing to rising cases of hair loss, and awareness among men regarding its ill effects. Some of the top market leaders are Creme Shop, Clio Cosmetics South Korea, Able C&C, The Face Shop, Nature Republic, and TolyMoly and others.
New York, NY, Sept. 06, 2023 (GLOBE NEWSWIRE) — Polaris Market Research has published a new research report titled “K-Beauty Products Market Share, Size, Trends, Industry Analysis Report, By Product (Skin Care, Hair Care); By End-user; By Distribution Channel (Supermarkets & Hypermarkets, Online); By Region, And Segment Forecasts, 2023 – 2032” in its research database.
“As per the latest research analysis, the global k-beauty products market size/share will be valued at roughly USD 92.16 Billion in 2022, and its revenue is projected to reach about USD 225.69 Billion By 2032. The market is forecasted to expand at a compound annual growth rate of approximately 9.4% between 2023 and 2032.”
What is K-Beauty Products? How Big is K-Beauty Products Market Share?
- Overview
K-Beauty, also known as Korean Beauty or Korean Skincare, gradually takes over the beauty world. It is a skincare routine that was invented in South Korea. It is a complete routine emphasizing nutrition, hydration, and skin protection. Korean skincare seeks to make and maintain skin healthy and glowing. Also, these products are known for their visually attractive and captivating packaging designs.
Moreover, their thorough attention to detail and overall creative appeal inject joy and playfulness into skincare routines. This part has strongly resonated with customers, as the eye-catching packaging enriches the overall experience and makes using the products more pleasing. As a result, the k-beauty products market demand is expanding.
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Our Sample Report Covers:
- 2032 Updated Report Introduction, Overview, and In-depth industry analysis.
- 110+ Pages Research Report (Inclusion of Updated Research).
- Provide Chapter-wise guidance on Requests.
- 2023 Updated Regional Analysis with Graphical Representation of Size, Share & Trends
- Includes Updated List of tables & figures.
- Updated Report Includes Top Market Players with their Business Strategy, Sales Volume, and Revenue Analysis.
Some of the Top Market Leaders Are:
- Able C&C
- AMOREPACIFIC
- BANILLA
- CARVER KOREA
- Clio
- Creme Shop
- Nature Republic
- The Face Shop
- TolyMoly
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K-Beauty Products Market: Report Scope
| Report Attribute | Details |
| Revenue Forecast in 2032 | USD 225.69 Billion |
| Market size value in 2023 | USD 100.63 Billion |
| Expected CAGR Growth | 9.4% from 2023 – 2032 |
| Base Year | 2022 |
| Forecast Year | 2023 – 2032 |
| Top Market Players | Creme Shop, Clio Cosmetics South Korea, Able C&C, The Face Shop, Nature Republic, and TolyMoly |
| Segments Covered | By Product, By End Use, By Distribution Channel, By Region |
| Customization Options | Customized purchase options are available to meet any research needs. Explore customized purchase options |
Prominent Growth Driving Factors
- High-quality ingredients: The popularity of K-beauty products is due to their emphasis on premium ingredients. Including efficient, safe, and frequently natural components is a priority for K-beauty brands, which appeals to consumers and promotes the use of these products.
- Celebrity endorsements: Promoting Korean beauty products by well-known public figures from many cultures heightens their universal appeal and encourages people from various cultural backgrounds to incorporate them into their skincare routines. Such celebrity endorsements significantly contribute to the economic success of these goods and the development of a favorable reputation for them in the k-beauty products market growth.
Top Findings of the Report
- With customers adopting the beauty regimens and products used by their favorite celebrities, the popularity of k-beauty products has substantially influenced the current beauty trends.
- The k-beauty products market segmentation is mainly based on the end use, product, region, and distribution channel.
- North America region has dominated the market in 2022.
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Top Trends Influencing the Market
- Collaboration with Korean Celebrities: Celebrity influencers benefit marketers because of their extensive worldwide reach and capacity to overcome cross-cultural barriers. One of the main tactics cosmetics businesses use is to work with Korean celebrities, taking advantage of their popularity and influence. This includes using well-known Koreans as brand ambassadors, using them in narrative campaigns, and using them in social media platforms’ streaming ads and instructional videos.
- Companies taking initiatives due to increased demand: Due to the rising demand, leading K-beauty companies are continuously undertaking activities, including R&D, product launches, and mergers and acquisitions, to maintain their k-beauty products market share and adjust to changing consumer tastes. These businesses constantly introduce a wide selection of products to keep up with changing consumer needs and remain competitive.
Segmental Analysis
- Skin Care Sector Accounts for the Largest Share
K-beauty products’ excellent adaptability and suitability for all skin types ensures little irritation. They are especially sought after since they work well with sensitive skin and can accommodate various skin types. This has helped to increase customer interest in the K-beauty products market demand.
Moreover, the hair sector is anticipated to experience the fastest growth. Using natural and herbal substances is a hallmark of K-beauty hair care products. These substances have various advantages, such as enhanced hair health, hydration, and nourishment.
- Women Sector Holds the Significant Share
Women now consume significantly more beauty products thanks to their active involvement in social and professional activities. Women increasingly demand chic and pricey beauty items as income levels rise. These elements remain the main forces behind women’s demand for K-beauty products.
Furthermore, men are becoming more aware of their skincare requirements and issues with sensitivity, aging, acne, inflammatory diseases, and dryness. Therefore, the k-beauty products market size is driven by the rising awareness and demand among men.
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Geographical Overview
- North America: The region’s development is aided by expanding demand for skincare goods, creative product branding initiatives, increased knowledge of beauty regimens, and successful advertising techniques. Notably, well-known K-beauty companies like AmorePacific are growing their presence in the US & Japan, further boosting the k-beauty products market in North America.
- Asia Pacific: Several factors, including the expanding industrial growth and the rising per capita wealth in developing nations like China and India, are responsible for the growth in Asia Pacific. Additionally, the personal care industry in emerging countries is anticipated to expand significantly shortly, creating a great opportunity for the region’s cosmetics market to prosper.
Browse the Detail Report “K-Beauty Products Market Share, Size, Trends, Industry Analysis Report, By Product (Skin Care, Hair Care); By End-user; By Distribution Channel (Supermarkets & Hypermarkets, Online); By Region, And Segment Forecasts, 2023 – 2032” with in-depth TOC: https://www.polarismarketresearch.com/industry-analysis/k-beauty-products-market
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Recent Developments
- To increase its footprint in the Indian subcontinent, Saturday Skin entered into a strategic agreement with Nykaa in July 2022. Through the Nykaa website and mobile app, Saturday Skin will make its line of skin care products available to clients as part of this partnership.
- In conjunction with the well-known Korean firm Shihyo, L’Oreal recently introduced a new line of cosmetic goods in November 2022. The beauty customs of China (C-Beauty), Korea (K-Beauty), and Japan (J-Beauty) are combined in this cutting-edge collection. This line of goods uses fermented rice and other cutting-edge Asian methods along with 24 herbal ingredients.
The Report Answers Questions Such As
- At what CAGR is the market of k-beauty products expected to grow during the forecast period?
- Which factors are driving the k-beauty products market growth?
- How do the various market factors, such as drivers, trends, restraints, and opportunities, impact the market?
- Which segments are dominating the industry?
- Who are the prominent players in the industry?
- Which region is leading the market?
Polaris Market Research has segmented the k-beauty products market report based on product, end use, distribution channel, and region:
By Product Outlook
- Skin Care
- Cleanser
- Moisturizer
- Serum
- Sunscreen
- Others
- Hair Care
- Shampoo
- Conditioner
- Serums
- Others
By End User Outlook
- Men
- Women
By Distribution Channel Outlook
- Supermarkets and Hypermarkets
- Specialty stores
- Online
- Pharmacies
By Region Outlook
- North America (U.S., Canada)
- Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
- Asia Pacific (Japan, China, India, Malaysia, Indonesia. South Korea)
- Latin America (Brazil, Mexico, Argentina)
- Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)
About Polaris Market Research:
Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for PMR’s clientele spread across different enterprises. We at Polaris are obliged to serve PMR’s diverse customer base present across the industries of healthcare, technology, semiconductors, and chemicals among various other industries present around the world. We strive to provide PMR’s customers with updated information on innovative technologies, high-growth markets, emerging business environments, and the latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. Adept with a highly competent, experienced, and extremely qualified team of experts comprising SMEs, analysts, and consultants, we at Polaris endeavor to deliver value-added business solutions to PMR’s customers.
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