Europe K-beauty Products Market Forecast 2023-2032

Europe K-beauty Products Market Forecast 2023-2032

KEY FINDINGS
The Europe K-beauty products market was valued at $2276.21 million in 2022 and is expected to reach $5608.21 million by 2032, growing at a CAGR of 9.48% during the forecast period 2023-2032. Consumers in the region have a high preference for cosmetics made with natural and organic ingredients. This factor is set to play an essential role in boosting the region’s market growth.

MARKET INSIGHTS
The United Kingdom, Germany, France, Italy, Spain, Belgium, Poland and Rest of Europe are evaluated in order to predict the growth of the Europe K-beauty products market. In Italy, seven out of ten women have tried Korean cosmetics, according to a survey. The popularity of mid-priced and budget brands is growing significantly in the country, and sales of skincare products have substantially increased. Additionally, Italy is one of the major players in the export of cosmetic products. The Italian cosmetics industry’s exports have grown rapidly, and the most recent data available indicates that the sector’s exports reached a total value of about 5 billion euros in 2019. These trends in the beauty & cosmetics industry of the country are shaping the market demand for K-beauty products.

In Spain, the population has come to associate Korean cosmetics with high quality, and exports of these items have only increased. However, consumers may not always find it easy to obtain the whole range of K-beauty products. With an import volume of about 12 million euros and a total of 1,126 operations, Spain now ranks third in Europe and fifteenth overall in the globe among countries that import Korean cosmetics, according to data gathered by KOTRA. These factors are set to influence the market growth in the region over the forecasting period.

COMPETITIVE INSIGHTS
Some of the leading firms in the market are CosRX, Holika Holika, etc.

Our report offerings include:
• Explore key findings of the overall market
• Strategic breakdown of market dynamics (Drivers, Restraints, Opportunities, Challenges)
• Market forecasts for a minimum of 9 years, along with 3 years of historical data for all segments, sub-segments, and regions
• Market Segmentation caters to a thorough assessment of key segments with their market estimations
• Geographical Analysis: Assessments of the mentioned regions and country-level segments with their market share
• Key analytics: Porter’s Five Forces Analysis, Vendor Landscape, Opportunity Matrix, Key Buying Criteria, etc.
• Competitive landscape is the theoretical explanation of the key companies based on factors, market share, etc.
• Company profiling: A detailed company overview, product/services offered, SCOT analysis, and recent strategic developments

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