The K-Beauty Products Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s K-Beauty Products Global Market Report 2024, The k-beauty products market size has grown strongly in recent years. It will grow from $10.66 billion in 2023 to $11.56 billion in 2024 at a compound annual growth rate (CAGR) of 8.4%. The growth in the historic period can be attributed to the rising awareness of chemical-free beauty products, rising innovative formulations and ingredients, the emphasis on multi-step skincare routines.
The k-beauty products market size is expected to see strong growth in the next few years. It will grow to $15.17 billion in 2028 at a compound annual growth rate (CAGR) of 7.0%. The growth in the forecast period can be attributed to increasing organic skincare products, popularization of products inspired by unique ingredient formulas and digital marketing strategies, increasing recognition through social media, beauty influencers, and endorsements by celebrities. Major trends in the forecast period include interest in eco-friendly and sustainable beauty products, partnerships, collaborations, increasing company investments, product innovations.
The growing demand for natural and organic skincare is expected to propel the growth of the K-beauty products market going forward. Natural and organic skincare refers to products formulated with ingredients sourced directly from nature, such as plants, minerals, and sometimes animal by-products. K-beauty products often feature natural and organic gentle formulations that are suitable for all skin types, including sensitive skin. For instance, in June 2023, according to the Centre for the Promotion of Imports from Developing Countries, a Netherlands-based intergovernmental organization, UK market sales of certified organic cosmetics increased by 15% and reached (US$150.13) £138.23 million in 2021. Therefore, the growing demand for natural and organic skincare drives the K-beauty products market.
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The k-beauty products market covered in this report is segmented –
1) By Product Type: Skin Care, Hair Care
2) By Distribution Channel: Supermarkets And Hypermarkets, Specialty Stores, Online, Pharmacies
3) By End-User: Men, Women
Major companies operating in the K-beauty products market are focused on developing new hair care products, such as anti-dandruff serums and shampoos, to increase their profitability in the market. Hair care K-Beauty products are specialized hair treatments and products originating from Korea, focusing on innovative ingredients and techniques for optimal scalp health and hair beauty. For instance, in January 2024, THE SKINFACTORY Co. Ltd., a South Korea-based personal care product manufacturer, launched the K-Beauty Halal hair care line through its brand Kundal, incorporating a special anti-sebum P + Hyalocta Complex that delivers an immediate cooling effect on the scalp. The assortment comprises a hair cleanser, a hair softener, and a fluid hair serum, each tailored to the essential needs of Muslim users. The hair cleanser is expertly crafted to thoroughly purify, effectively eliminating dandruff, pollutants, and surplus sebum. The hair softener provides a one-step comprehensive treatment for both scalp and hair, ensuring smoothness and ease in untangling without heaviness. The fluid hair serum imparts quick moisture and a durable fragrance owing to its distinctive mix of feather-light ingredients.
The k-beauty products market report table of contents includes:
- Executive Summary
- Market Characteristics
- Market Trends And Strategies
- Impact Of COVID-19
- Market Size And Growth
- Segmentation
- Regional And Country Analysis
……..
- Competitive Landscape And Company Profiles
- Key Mergers And Acquisitions
- Future Outlook and Potential Analysis
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