South Korea Cosmetics Market Growth, Size, Trends, Revenue, Challenges and Future Competition: SPER Market Research

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Published: Jul 2023	Report ID: FMCG2378	Pages: 1 - 109	Formats^*:
Category : Consumer & Retail

South Korea Cosmetics Market Introduction and Overview

According to SPER Market Research, the South Korea Cosmetics Market is estimated to reach USD 29.87 billion by 2033 with a CAGR of 5.6%.

The report includes an in-depth analysis of the South Korea Cosmetics Market, including market size and trends, product mix, distribution channels, and supplier analysis. The South Korean cosmetics market has emerged as a dominant force in the global beauty industry. With a focus on skincare, innovative formulations, and captivating marketing strategies, South Korea has become synonymous with high-quality beauty products. The market has experienced significant growth, fuelled by a strong domestic demand, the popularity of K-pop culture, and a reputation for producing effective skincare solutions. South Korean cosmetics, commonly referred to as K-beauty, have gained global recognition for their emphasis on achieving a natural, radiant complexion.

Skincare Emphasis: This focus has led to a high demand for skincare products and innovative solutions, driving the growth of the cosmetics market.

Innovative Formulations: Brands constantly introduce new and unique ingredients, such as snail mucin, fermented extracts, and natural substances, which appeal to consumers seeking effective and advanced beauty products.

Market Opportunities and Challenges

The South Korean cosmetics market presents several market opportunities for industry players. Firstly, there is a growing global demand for K-beauty products. South Korean cosmetics have gained a strong reputation for their innovation, quality, and efficacy, attracting consumers worldwide. The market can capitalize on this demand by expanding its export activities, leveraging the popularity of K-beauty trends, and establishing strategic partnerships with international retailers and distributors.

Secondly, there is an increasing focus on sustainability and clean beauty. Consumers are becoming more conscious of the environmental impact of their beauty products and are seeking eco-friendly and cruelty-free options. The South Korean cosmetics market faces several challenges that impact its growth and sustainability. The intense competition within the market is a significant challenge. The industry is saturated with numerous local and international brands vying for consumer attention. This competition often leads to price wars, aggressive marketing strategies, and constant innovation pressure to stand out in a crowded marketplace.

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Market Competitive Landscape

The South Korean cosmetics market is known for its highly competitive landscape, characterized by a diverse range of local and international brands vying for consumer attention. South Korea has emerged as a global leader in the beauty and skincare industry, and this has attracted numerous players to the market. Companies like Amore Pacific, LG Household & Health Care, and The Face Shop have a long-standing presence and a wide range of product offerings, giving them a competitive advantage. The market is characterized by a culture of continuous innovation and investment in research and development.

Scope of the Report:

Report Metric	Details
Market size available for years	2019-2033
Base year considered	2022
Forecast period	2023-2033
Segments covered	By Category, By Price, By Gender, By Distribution Channels.
Regions covered	Seoul, Busan, Incheon, Daegu, Ulsan.
Companies Covered	Able C & C Inc., Amore Pacific Corporation, Ko Rendy Cosmetics Inc., LG Household &Health Co. Ltd., Procter & Gamble, Others.

In what ways has the COVID-19 pandemic affected South Korea Cosmetics Market?

The COVID-19 pandemic has had a significant impact on the South Korean cosmetics market. The industry experienced disruptions in both supply and demand during various phases of the pandemic. Initially, during the height of the outbreak, the market witnessed a decline in consumer spending as lockdowns and social distancing measures limited physical retail opportunities. With reduced foot traffic, cosmetic brands had to adapt quickly by shifting their focus to online channels and e-commerce platforms to reach consumers. This accelerated the growth of the online beauty market, leading to increased investments in digital marketing and e-commerce infrastructure.

Key Target Audience:

Domestic Consumers
Beauty Enthusiasts & Trendsetters
Millennials & Generations
Health and Wellness Conscious Consumers

Our in-depth analysis of the South Korea Cosmetics Market includes the following segments:

By Category	Skin Care Hair Care Bath & Showers Makeup & Colour Cosmetics Deodorants & Fragrances
By Price	Mass Premium
By Gender	Male Female Unisex
By Distribution Channels	Hypermarkets & Supermarkets Speciality Stores Pharmacies/Drug Stores

Key Topics Covered in the Report:

South Korea Cosmetics Market Size (FY’2023-FY’2033)
Overview of South Korea Cosmetics Market
Segmentation of South Korea Cosmetics Market By Category ({Skin Care(Face Care, Body Care, Lip Care)}, {Hair Care(Shampoo, Conditioners, Others)},{Bath & Showers(Soap, Shower Gels, Others)}, Makeup & Colour Cosmetics, Deodorants &Fragrances).
Segmentation of South Korea Cosmetics Market By Price (Mass, Premium).
Segmentation of South Korea Cosmetics Market By Gender (Male, Female, Unisex).
Segmentation of South Korea Cosmetics Market By Distribution Channels (Hypermarkets & Supermarkets, Speciality Stores, Pharmacies/ Drug Stores, Online, Others).
Statistical Snap of South Korea Cosmetics Market
Expansion Analysis of South Korea Cosmetics Market
Problems and Obstacles in South Korea Cosmetics Market
Competitive Landscape in the South Korea Cosmetics Market
Impact of COVID-19 and Demonetization on South Korea Cosmetics Market
Details on Current Investment in South Korea Cosmetics Market
Competitive Analysis of South Korea Cosmetics Market
Prominent Players in the South Korea Cosmetics Market
SWOT Analysis of South Korea Cosmetics Market
South Korea Cosmetics Market Future Outlook and Projections (FY’2023-FY’2033)
Recommendations from Analyst

1. Introduction

1.1. Scope of the report
1.2. Market segment analysis

2. Research Methodology

2.1. Research data source
2.1.1. Secondary Data
2.1.2. Primary Data
2.1.3. SPER’s internal database
2.1.4. Premium insight from KOL’s
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation

3. Executive Summary

4. Market Dynamics

4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers
4.1.2. Restraints
4.1.3. Opportunities
4.1.4. Challenges
4.2. COVID-19 Impacts of the South Korea Cosmetics Market

5. Market variable and outlook

5.1. SWOT Analysis
5.1.1. Strengths
5.1.2. Weaknesses
5.1.3. Opportunities
5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape
5.2.2. Economic Landscape
5.2.3. Social Landscape
5.2.4. Technological Landscape
5.2.5. Environmental Landscape
5.2.6. Legal Landscape
5.3. PORTER’s Five Forces
5.3.1. Bargaining power of suppliers
5.3.2. Bargaining power of buyers
5.3.3. Threat of Substitute
5.3.4. Threat of new entrant
5.3.5. Competitive rivalry
5.4. Heat Map Analysis

6. Competitive Landscape

6.1. South Korea Cosmetics Market Manufacturing Base Distribution, Sales Area, Product Type
6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in South Korea Cosmetics Market

7. South Korea Cosmetics Market, By Category (USD Million)

7.1. South Korea Cosmetics Market Value Share and Forecast, By Category, 2023-2033
7.2. Skin Care
7.2.1. Face Care
7.2.2. Body Care
7.2.3. Lip care
7.3. Hair Care
7.3.1. Shampoo
7.3.2. Conditioners
7.3.3. Others
7.4. Bath & Showers
7.4.1. Soap
7.4.2. Shower Gels
7.4.3. Others
7.5. Makeup & Colour Cosmetics
7.6. Deodorants & Fragrances

8. South Korea Cosmetics Market, By Price (USD Million)

8.1. South Korea Cosmetics Market Value Share and Forecast, By Price, 2023-2033
8.2. Mass
8.3. Premium

9. South Korea Cosmetics Market, By Gender (USD Million)

9.1. South Korea Cosmetics Market Value Share and Forecast, By Gender, 2023-2033
9.2. Male
9.3. Female
9.4. Unisex

10. South Korea Cosmetics Market, By Distribution Channels (USD Million)

10.1. South Korea Cosmetics Market Value Share and Forecast, By Distribution channels, 2023-2033
10.2. Hypermarkets & Supermarkets
10.3. Speciality Stores
10.4. Pharmacies/Drug Stores
10.5. Online
10.6. Others

11. South Korea Cosmetics Market Forecast, 2019-2033 (USD Million)

11.1. South Korea Cosmetics Market Size and Market Share

12. South Korea Cosmetics Market, By Category, 2019-2033 (USD Million)

12.1. South Korea Cosmetics Market Size and Market Share By Category (2019-2026)
12.2. South Korea Cosmetics Market Size and Market Share By Category (2027-2033)

13. South Korea Cosmetics Market, By Price, 2019-2033 (USD Million)

13.1. South Korea Cosmetics Market Size and Market Share By Price(2019-2026)
13.2. South Korea Cosmetics Market Size and Market Share By Price (2027-2033)

14. South Korea Cosmetics Market, By Gender, 2019-2033 (USD Million)

14.1. South Korea Cosmetics Market Size and Market Share By Gender (2019-2026)
14.2. South Korea Cosmetics Market Size and Market Share By Gender (2027-2033)

15. South Korea Cosmetics Market, By Distribution Channels, 2019-2033 (USD Million)

15.1. South Korea Cosmetics Market Size and Market Share By Distribution Channels (2019-2026)
15.2. South Korea Cosmetics Market Size and Market Share By Distribution Channels (2027-2033

16. South Korea Cosmetics Market, By Region, 2019-2033 (USD Million)

16.1. South Korea Cosmetics Market Size and Market Share By Region (2019-2026)
16.2. South Korea Cosmetics Market Size and Market Share By Region (2027-2033)
16.3. Seoul
16.4. Busan
16.5. Incheon
16.6. Daegu
16.7. Ulsan

17. Company Profile

17.1. Able C & C Inc.
17.1.1. Company details
17.1.2. Financial outlook
17.1.3. Product summary
17.1.4. Recent developments
17.2. Amore Pacific Corporation
17.2.1. Company details
17.2.2. Financial outlook
17.2.3. Product summary
17.2.4. Recent developments
17.3. Ko Rendy Cosmetics Inc.
17.3.1. Company details
17.3.2. Financial outlook
17.3.3. Product summary
17.3.4. Recent developments
17.4. LG Household & Health Co. Ltd
17.4.1. Company details
17.4.2. Financial outlook
17.4.3. Product summary
17.4.4. Recent developments
17.5. Procter & Gamble
17.5.1. Company details
17.5.2. Financial outlook
17.5.3. Product summary
17.5.4. Recent developments
17.6. Others

18. List of Abbreviations

19. Reference Links

20. Conclusion

21. Research Scope

SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.

The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.

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Frequently Asked Questions About This Report

What is the anticipated CAGR of South Korea Cosmetics Market during the forecast period?

South Korea Cosmetics Market CAGR of 5.6% during the forecast period.

How can I get a sample report on South Korea Cosmetics Market?

You can get the sample pages by clicking the link -Click Here

What is the market size of South Korea Cosmetics Market?

South Korea Cosmetics Market size is USD 29.87 billion from 2023 to 2033.

Which segment is expected to lead South Korea Cosmetics Market?

South Korea Cosmetics Market Segment is Covered By Category, By Price, By Gender, By Distribution Channels.

Which region is expected to have the highest market share in South Korea Cosmetics Market?

The Asia-Pacific region is anticipated to have the highest market share in South Korea Cosmetics Market.

Who are the key players in South Korea Cosmetics Market?

The key players in the market include Companies Covered Able C & C Inc., Amore Pacific Corporation, Ko Rendy Cosmetics Inc., LG Household &Health Co. Ltd., Procter & Gamble, Others.

What is the conclusion of South Korea Cosmetics Market?

The South Korean cosmetics market is known for its highly competitive landscape, characterized by a diverse range of local and international brands vying for consumer attention.

How big is South Korea Cosmetics Market?

South Korea Cosmetics Market is projected to reach USD 29.87 billion by 2033, growing at a CAGR of 5.6% during the forecast period.

What is the growth rate of South Korea Cosmetics Market?

South Korea Cosmetics Market grew in market size from 2023. The Market is expected to reach USD 29.87 billion by 2033, at a CAGR of 5.6% during the forecast period.