COSMETICS

Korea’s Cosmetics market ranks ninth in size globally, and Cosmetics exports have been recording an impressive growth rate of 43.2 percent per year since 2012, alongside the influence of K-beauty and the rise in popularity of Korean culture in general.

The Cosmetics market continues to grow thanks to the high growth in the Asian market, the expansion of the eco-friendly organic Cosmetics, an increased interest in skin care, and the growth of the men's Cosmetics product lines.

The next step of this growth is forecasted to be a further process of internationalization towards Europe, being Italy in “pole position” for taking advantage of this trend.

Korean Cosmetics “Brands” are rapidly growing by leveraging the sharp growth of mono brand shops, promoting the development of “Icon” items and improving a fast response to trends and requests from customers.

he Korean Cosmetics industry is expected to continue its growth in the upcoming years, particularly in the following channels: mono brand shops, online, mobile channels in addition to department stores, and door-to-door sales. These distribution strategies are also shaping the global trends for the Cosmetic distribution world wide.

In particular, major domestic producers, are expected to grow continuously by enhancing their technological power, strengthening their premium product line, launching new “Brands”, and improving their efforts to enter into the international markets, not only in Asia but also in Europe and North America.