South Korea Color Cosmetics Market Overview, 2028

South Korea Color Cosmetics Market Overview, 2028

K-pop and K-dramas have increased the prominence of beauty and skincare products among the general population. Korean beauty standards are pretty high, providing significant impetus to all industry segments. To accommodate the rising demand from customers, manufacturers place a lot of attention on the research and development of cosmetics with greater effectiveness. When BB creams and cushion-based compacts were developed, Korean beauty quickly became very popular. Since then, due to advancements in the cosmetics sector, Korean cosmetic items have caught the interest of western firms and customers. Many cosmetic companies today are attempting to use more organic and natural ingredients, including flowers and snails, among others. The expansion of the cosmetics industry in the nation is facilitated by such on-going advancements. In South Korea With growing environmental concerns and consumer awareness regarding sustainability, many manufacturers have launched products with natural ingredients packed in eco-friendly packaging. Skincare is an important part of South Korean culture, and this has extended to the colour cosmetics industry. Consumers are looking for products that not only enhance their appearance but also provide skincare benefits.

According to the research report ""South Korea Color Cosmetic Market Overview, 2028,"" published by Bonafide Research, The South Korea Color Cosmetic market is projected to reach market size of USD 3.10 Billion by 2028. The beauty industry in South Korea has been growing rapidly over the years, driven by increasing interest in K-beauty products and the rise of Korean pop culture. This has led to a surge in demand for coloured cosmetic products. South Korea is known for its technological advancements in the beauty industry. The country is constantly innovating and introducing new products with advanced formulations that are highly appealing to consumers. South Korean celebrities are highly influential in the country, and their endorsements of certain cosmetic brands can significantly boost sales. Based on the products, there are facial colour products, nail products, hair colour products, lip products, and eye makeup products. In the South Korean colour cosmetic market, facial colour cosmetic products have the highest market share. The facial colour cosmetics include foundation, loose powder, concealers, blush, and other facial products (primer). In South Korea, the foundation has the highest market share. In the future, loose face powder will grow at the highest CAGR rate. The loose face powder market in South Korea is expected to grow at the highest CAGR rate due to various factors. Loose face powder is a popular makeup item in South Korea as it is used to set foundation and control oil production, which is important in the humid climate of the country. The demand for natural and organic loose face powders is increasing in South Korea due to rising awareness about the harmful effects of synthetic ingredients on the skin. This has led to the introduction of various organic and natural loose face powder products on the market. The increasing popularity of K-beauty products, which emphasise a natural and dewy look, has led to a growing demand for loose face powders that provide a natural finish.

Based on the report, the nail products include nail polish, nail removers, nail treatments and Strengtheners, and other nail products (base coat, top coat, nail art stickers). In South Korea, nail polish has the highest market share. In South Korea, nail salons are widely available, and nail artwork is seen as a common form of self-expression. The country has a significant focus on beauty and grooming, and nail art is often seen as an extension of this. Additionally, K-beauty trends have gained global popularity in recent years, with Korean brands becoming more widely available internationally. South Korean nail polish brands, with their wide range of colours and finishes, have gained a reputation for being high-quality and innovative, contributing to their popularity in the market. Based on the lip products, they include lip sticks, lip gloss, lip liner or pencil, and other lip products (lip primer and lip plumber). In South Korea, lip sticks have the highest market share. Lip liner and pencil will grow at the highest CAGR. In South Korea, lip liner or lip pencil is considered an essential part of a makeup routine. It is used to outline and define the lips, create a fuller appearance, and prevent lipstick from bleeding or feathering. One of the recent trends in South Korea regarding lip liner is the use of gradient or ombre lip looks, where the lip liner is used to create a faded effect on the lips. Another trend is the use of unconventional colours for lip liner, such as bold and bright hues like orange, pink, and red.

Based on the hair colour segments, which include permanent and temporary hair colour, In South Korea, permanent hair colour is leading the hair colour market with the highest share. Permanent hair colour is also preferred by many consumers because it provides longer-lasting results compared to temporary or semi-permanent hair colour. Based on the end user, which includes women and men, in South Korea, women are using more cosmetics. South Korean consumers purchase colour cosmetics at the mass price range rather than paying for them at the premium price range. Based on the distribution channel, it includes specialty stores, brand outlets, the online channel, convenience stores, and other stores (salon). In South Korea, specialty stores lead the colour cosmetic market. There are many specialty stores that provide Olive Young, Watsons, Aritaum, the Face Shop, Innisfree, Etude House, and Missha.

Considered in this report

• Geography: South Korea
• Historic year: 2017
• Base year: 2022
• Estimated year: 2023
• Forecast year: 2028

Aspects covered in this report

• South Korea Color Cosmetic market with its value and forecast along with its segments
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

By Product Type

• Facial Color Product
• Nails Products
• Hair Color Products
• Lip Products
• Eye Makeup Products

By Face Make-up

• Foundation
• Loose Face Powder
• Concealers
• Blush
• Other Facial Products

By Nails Products

• Nail Polish
• Nail Removers
• Nail Treatment/ Strengtheners
• Other Nail Products (Base coat, Top coat, Nail art stickers)

By Hair Color

• Permanent
• Temporary

By Lip Makeup

• Lip gloss
• Lip Liners/Pencils
• Lip Sticks
• Other Lip Products(lip primer, lip plumber)

By Eye makeup

• Eye Liners/Pencils
• Eye Shadow
• Mascara
• False Eyelashes
• Other Eye Makeup Products (False Eyelashes, Eye)

By Price Range

• Mass
• Premium

By Gender

• Men
• Women

By Distribution Channel

• Specialty Store
• Brand Outlets
• Online Channel
• Convenience Stores
• Other Stores (salon)

The approach of the report:

This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third party sources such as press releases, annual report of companies, analyzing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources.

Intended audience

This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to color cosmetic industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.