Global K-beauty Products Market Forecast 2023-2032

Global K-beauty Products Market Forecast 2023-2032

KEY FINDINGS
The global K-beauty products market is predicted to register a CAGR of 9.71% during the forecast period, 2023 to 2032. The major factors boosting the expansion of the global market include the increasing demand for natural and organic personal care & cosmetics due to the rising geriatric population and K-beauty products being revolutionized by product innovation and extensive R&D.

MARKET INSIGHTS
K-beauty products, or Korean beauty, describe skin care products and trends from South Korea. The South Korean Ministry of Science and ICT is promoting the use of indigenous plants such as ginseng in newly created goods, including cosmetics, food and medicine, in response to the desire for natural/organic products. Customers are also opting for more conventional, healthier beauty methods as they become more selective in their lifestyle choices and move beyond quick fixes. The increasing demand for natural and organically derived components in cosmetics and personal care products has opened up new opportunities in the beauty cosmetics sector.

Therefore, research, innovation, and technological advancements have been the driving force behind the rapid development and expansion of the global K-beauty products market. Through R&D, the K-beauty giants have been able to translate the rich traditions of natural Asian ingredients into innovative products. They use naturally derived ingredients such as snail mucin, bee venom, donkey milk, pig collagen and placenta for the production of their skincare products. Furthermore, the Korean skincare industry is regarded to be seven years ahead of its international competitors in terms of innovation.

REGIONAL INSIGHTS
The global K-beauty products market growth assessment includes the geographical analysis of Asia-Pacific, Europe, North America, and Rest of World. North America is set to be the fastest-growing region during the forecast period. In the region, consumers are willing to experiment with new products and are also open to using products manufactured with unique ingredients. This factor, in turn, plays an essential role in boosting market growth.

COMPETITIVE INSIGHTS
Due to the increasing demand for natural and organic personal care & cosmetics during the forecast period, there is intense competition among players operating in the global K-beauty products market. Some of the leading companies in the market include Adwin Korea Corporation, AmorePacific Corporation, Able C&C Co, 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.
• The 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

Please note:The single user license is non-downloadable and non-printable. Global Site license allows these actions.