Beauty & Personal Care - South Korea

South Korea

The revenue generated in the Beauty & Personal Care market in South Korea is projected to reach US$15.02bn in 2024.
This market is expected to grow annually by 2.24% (CAGR 2024-2029).
The largest segment in this market is Skin Care, with a market volume of US$9.24bn in 2024.
In comparison to other countries, in the United States generates the highest revenue in this market, amounting to US$100bn in 2024.
When considering the population, the per person revenue generated in South Korea's Beauty & Personal Care market is US$290.30 in 2024.
Furthermore, online sales are predicted to contribute 40.4% of the total revenue in the Beauty & Personal Care market by 2024.
South Korea's beauty market is driven by a strong emphasis on skincare, with consumers prioritizing natural and innovative products.

Key regions: United States, Worldwide, India, Indonesia, Canada

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Analyst Opinion

The Beauty & Personal Care market is thriving and one of the fastest growing consumer markets, driven in particular by the Cosmetics and Skin Care segments. The main reason for this strong growth is the generational shift with young consumers entering the market. At the same time, this change is reinforced by social media, internationality, and eCommerce, which have a lasting effect on buying behavior when it comes to beauty products. Trends from all over the world are spreading and changing the daily beauty and care routine.