From K-pop fueled color cosmetics to a staggering 18.31 trillion KRW market, South Korea's beauty industry is not just thriving—it's setting the global standard for innovation and consumer trends.
Key Takeaways
- The South Korean cosmetics market reached a value of 18.31 trillion KRW in 2023, up 7.2% from 17.08 trillion KRW in 2022, fueled by rising demand for clean beauty products.
- Skincare products accounted for 52.3% of the total South Korean cosmetics market revenue in 2023, generating 9.57 trillion KRW.
- The color cosmetics segment in South Korea grew by 9.1% in 2023 to 3.42 trillion KRW, driven by K-pop influenced makeup trends.
- In 2022, South Korea's cosmetics exports totaled 10.28 billion USD, a 13.5% increase from 2021.
- China received 44.2% of South Korea's cosmetics exports in 2023, valued at 4.65 billion USD.
- Cosmetics imports to South Korea were 1.23 billion USD in 2023, primarily from France and the US.
- 68.4% of South Korean women aged 20-29 use skincare products daily, with an average of 8.7 steps in routine.
- 42.3% of South Korean consumers prefer vegan cosmetics, up from 28.1% in 2020.
- Average annual spend on cosmetics per South Korean woman is 450,000 KRW in 2023.
- Amorepacific held 28.4% market share in South Korea's cosmetics sector in 2023.
- LG Household & Health Care's cosmetics revenue was 4.12 trillion KRW in 2023.
- The Face Shop brand exported products worth 1.2 billion USD globally in 2023.
- South Korea's cosmetics regulation under KS standards updated 12 new safety tests in 2023.
- 1,245 new cosmetics patents filed in South Korea in 2023 by K-beauty firms.
- MFDS approved 5,678 cosmetics formulations for vegan claims in 2023.
South Korea's booming cosmetics industry thrives on innovation, exports, and digital sales.
Consumer Trends and Behavior
- 68.4% of South Korean women aged 20-29 use skincare products daily, with an average of 8.7 steps in routine.
- 42.3% of South Korean consumers prefer vegan cosmetics, up from 28.1% in 2020.
- Average annual spend on cosmetics per South Korean woman is 450,000 KRW in 2023.
- 75.2% of Gen Z in South Korea (born 1997-2012) prioritize natural ingredients in cosmetics purchases.
- Online reviews influence 89.6% of cosmetics buying decisions among South Koreans aged 18-34.
- 61.7% of South Korean men aged 25-39 purchased grooming products in 2023.
- Multi-masking trend adopted by 34.5% of urban South Korean women in skincare routines.
- 52.1% of consumers in South Korea seek personalized cosmetics via AI apps in 2023.
- Sustainable packaging preferred by 67.8% of South Korean beauty shoppers.
- Nighttime skincare application peaks at 92.3% among working professionals in Seoul.
- 55.7% of South Koreans aged 30-49 use functional cosmetics for whitening.
- E-commerce platforms like Olive Young drove 72.4% of youth cosmetics sales.
- 48.9% prefer sheet masks weekly, averaging 3.2 packs per month.
- 71.3% of millennials in Korea buy cosmetics via social media influencers.
- Average skincare routine time 15.4 minutes daily for women 25-34.
- 39.2% men use BB cream, up 15% since 2020.
- 82.5% consumers read ingredients before purchase.
- 56.4% prefer Korean brands over Japanese.
- Holiday gifting boosts Q4 sales by 18.7%.
- 64.7% women 40+ use anti-aging daily.
- Subscription boxes popular with 22.1% subscribers.
- Genderless packaging adopted by 35% brands.
Consumer Trends and Behavior Interpretation
The Korean beauty market is a high-stakes, data-driven pageant where skin is a meticulously curated canvas, ethics are non-negotiable, and every demographic—from multi-masking urbanites to ingredient-reading men—is an astute critic armed with an AI app and an influencer’s recommendation.
Export and Import Data
- In 2022, South Korea's cosmetics exports totaled 10.28 billion USD, a 13.5% increase from 2021.
- China received 44.2% of South Korea's cosmetics exports in 2023, valued at 4.65 billion USD.
- Cosmetics imports to South Korea were 1.23 billion USD in 2023, primarily from France and the US.
- K-beauty exports to the US reached 1.12 billion USD in 2023, up 18.7% YoY.
- Vietnam imported 890 million USD worth of South Korean cosmetics in 2023, a 25.4% growth.
- In H1 2024, cosmetics exports hit 5.67 billion USD, surpassing previous records due to ASEAN demand.
- EU countries imported 620 million USD of Korean cosmetics in 2023, led by the UK at 210 million USD.
- Raw material imports for cosmetics in South Korea totaled 450 million USD in 2023, mainly botanical extracts.
- Cosmetics export growth to India was 32.1% in 2023, reaching 150 million USD.
- Japan-South Korea cosmetics trade showed a 8.9% increase in Korean exports to 320 million USD in 2023.
- Luxury cosmetics imports grew 14.2% to 680 million USD in 2023.
- Cosmetics exports to ASEAN totaled 2.8 billion USD in 2023, 27% YoY increase.
- Australia imported 180 million USD Korean cosmetics, up 22.5%.
- Cosmetics re-exports from South Korea 250 million USD in 2023.
- Thailand cosmetics imports from Korea 450 million USD, 30% up.
- EU anti-dumping duties affected 5% of Korean exports.
- Hong Kong cosmetics imports from Korea 120 million USD.
- Malaysia 340 million USD Korean cosmetics imports 2023.
- Singapore imports 90 million USD Korean cosmetics.
- Philippines 280 million USD, 26% growth.
Export and Import Data Interpretation
South Korea's cosmetics industry has mastered the art of global seduction, exporting over $10 billion worth of K-beauty charm primarily to China while strategically courting the US and conquering ASEAN with record growth, yet it remains a discerning connoisseur itself, importing luxury French and American products.
Major Companies and Brands
- Amorepacific held 28.4% market share in South Korea's cosmetics sector in 2023.
- LG Household & Health Care's cosmetics revenue was 4.12 trillion KRW in 2023.
- The Face Shop brand exported products worth 1.2 billion USD globally in 2023.
- Cosmax, a key OEM manufacturer, produced for 120+ brands with 2.5 trillion KRW revenue in 2023.
- Innisfree's Jeju Island-sourced products generated 850 billion KRW domestically in 2023.
- Laneige sleeping mask sales reached 500 million units cumulatively by 2023.
- Kolmar Korea's R&D investment was 120 billion KRW in 2023 for contract manufacturing.
- Etude House targeted teen market with 15% share in color cosmetics.
- Aekyung Industrial's MISE EN SCENE hair care line sold 1.1 billion KRW monthly avg in 2023.
- Carver Korea's Dr.Jart+ Cicapair line exported 300 million USD in 2023.
- Sulwhasoo brand revenue 1.23 trillion KRW, flagship ginseng line 60%.
- HCT's OEM production capacity 500 million units annually in 2023.
- Nature Republic's aloe line sold 800 million units globally by 2023.
- Intercos Korea R&D center developed 200 formulations in 2023.
- Missha's Time Revolution line 400 billion KRW sales in 2023.
- Toki Cosmetics R&D budget 80 billion KRW for peptides.
- Abib sheet masks exported 200 million packs in 2023.
- IOPE's bio-essence patented tech used in 50 countries.
- Samchully's contract mfg revenue 1.8 trillion KRW.
- Holika Holika fun packaging 20% market in mass cosmetics.
- Whoo brand luxury line 950 billion KRW revenue.
- Cosmecca Korea OEM for L'Oreal, revenue 900bn.
- 3CE makeup artist collab 300 million USD sales.
Major Companies and Brands Interpretation
Amorepacific lords over the Korean beauty jungle, but from the lab of Cosmax to the teen aisles of Etude House, it’s a fiercely inventive empire built on aloe, sleeping masks, ginseng, and an almost comical volume of sheet masks.
Market Size and Growth
- The South Korean cosmetics market reached a value of 18.31 trillion KRW in 2023, up 7.2% from 17.08 trillion KRW in 2022, fueled by rising demand for clean beauty products.
- Skincare products accounted for 52.3% of the total South Korean cosmetics market revenue in 2023, generating 9.57 trillion KRW.
- The color cosmetics segment in South Korea grew by 9.1% in 2023 to 3.42 trillion KRW, driven by K-pop influenced makeup trends.
- Online sales of cosmetics in South Korea comprised 45.6% of total market sales in 2023, totaling 8.35 trillion KRW.
- Premium cosmetics segment in South Korea expanded 12.4% YoY in 2023 to 6.78 trillion KRW, led by anti-aging formulations.
- Fragrances market in South Korea hit 1.12 trillion KRW in 2023, with a CAGR of 5.8% from 2019-2023.
- Men's grooming products in South Korea grew 15.2% in 2023 to 1.89 trillion KRW amid gender-neutral beauty trends.
- Clean beauty cosmetics sales in South Korea surged 22.7% in 2023 to 2.41 trillion KRW.
- The overall cosmetics market in South Korea is projected to reach 22.5 trillion KRW by 2028, with a CAGR of 4.9% from 2024-2028.
- Hair care products segment valued at 2.76 trillion KRW in 2023, up 6.3% YoY.
- South Korean cosmetics market digital sales projected to grow 11.3% CAGR to 2027.
- Body care segment valued at 1.98 trillion KRW in 2023, 10.8% growth.
- Mask pack sales hit 1.45 trillion KRW, 55% of skincare sub-segment.
- The South Korean cosmetics market CAGR 2018-2023 was 5.2%, reaching 17.5 trillion KRW.
- Sun care products grew 8.9% to 890 billion KRW in summer 2023.
- Nail care segment 450 billion KRW, 12% growth from K-pop influence.
- Oral care cosmetics market 1.67 trillion KRW in 2023.
- Deodorants segment 320 billion KRW, 7.5% growth.
- Eyelash serum sales up 28% to 150 billion KRW.
- BB cream market 1.05 trillion KRW, invented in Korea.
- Cushion foundation sales 780 billion KRW in 2023.
- Lip tint segment grew 14.5% to 420 billion KRW.
Market Size and Growth Interpretation
While South Korea's cosmetics industry is clearly painting a rosy picture with a 7.2% overall growth, the real story is that consumers are rigorously researching clean beauty online, meticulously applying anti-aging skincare, and then topping it all off with a bold K-pop-inspired lip tint, proving their faces are both a serious investment and a vibrant canvas.
Regulatory and Innovation
- South Korea's cosmetics regulation under KS standards updated 12 new safety tests in 2023.
- 1,245 new cosmetics patents filed in South Korea in 2023 by K-beauty firms.
- MFDS approved 5,678 cosmetics formulations for vegan claims in 2023.
- R&D expenditure in cosmetics industry totaled 850 billion KRW in 2023, 4.6% of revenue.
- Nanotechnology used in 23.4% of new South Korean sunscreens launched in 2023.
- Biotech-derived ingredients in 18.7% of premium skincare innovations in 2023.
- AI-driven customization tools adopted by 45 cosmetics brands for personalization in 2023.
- Zero-waste formulation certifications granted to 320 products by KCCM in 2023.
- Stem cell tech in anti-aging creams rose 31.2% in patent applications.
- MFDS banned 15 ingredients in cosmetics effective 2024.
- 3D printing for custom prosthetics in beauty tech, 50 patents.
- Probiotics in cosmetics launched 120 new products in 2023.
- KFDA certified 2,300 cruelty-free cosmetics in 2023.
- Microbiome research funded 150 billion KRW by government.
- AR try-on apps used by 65% of online shoppers.
- Blockchain traceability in 15 brands for authenticity.
- Gene editing for stable ingredients, 30 approvals.
- VR training for cosmetics application in 20 academies.
- Hypoallergenic claims verified for 4,500 products.
- LED mask devices regulated as cosmetics 2023.
- Exosome tech in 25 new serums approved.
Regulatory and Innovation Interpretation
While burying 1,245 patents under mountains of vegan approvals and R&D cash, K-beauty's frenzied innovation sprint is meticulously chaperoned by regulators adding new safety tests and ingredient bans, proving that in South Korea, the future of cosmetics is being written equally in lab notebooks and legal code.
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