South Korea Beauty & Personal Care Market Forecast 2022-2028

South Korea Beauty & Personal Care Market Forecast 2022-2028

KEY FINDINGS

The South Korea beauty & personal care market is anticipated to harbor a CAGR of 2.24% across the forecast period of 2022 to 2028. The introduction of new brands and innovative products, and unique consumer demands are expected to drive market growth.

MARKET INSIGHTS

With the prevalent popularity of the K-Beauty wave, beauty & personal care in South Korea are projected to be under the global spotlight. As a result, retailers and manufacturers are likely to be more innovative and competitive. Similarly, owing to the maturing market and the consumer demand for new and unique products, beauty and personal care manufacturers would be compelled to continue investing in the South Korean market.

However, simple and non-complex formulae enhancements, and packaging collaborations with popular characters are not commercially sufficient. Instead, introducing new products and brands with a higher worldwide-appeal would be instrumental in developing localized ingredients and commodities that align with global standards. For instance, vegan cosmetics are not customary across several Asian countries, including South Korea. Thus, as the global demand for vegan products increases, manufacturers' investments in developing vegan beauty and personal care products will also observe a growing trend. Therefore, these factors are estimated to augment South Korea’s market growth.

COMPETITIVE INSIGHTS

Kao Corporation, Revlon Inc, Shiseido Company Limited, Unilever NV, LVMH Moet Hennessey Louis Vuitton SA, etc., are among the prominent companies operating in the market.

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 cater 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