North America K-beauty Products Market: Growth Prospects 2024-2032

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from $1,500	116 Pages	Triton Market Research	June, 2024	TRTN18869355

Best Price Guarantee
Price	from $1,500
Length	116 Pages
Publisher	Triton Market Research
Published Date	June, 2024
SKU	TRTN18869355

North America K-beauty Products Market: Growth Prospects 2024-2032

Triton’s research analysis states that the K-Beauty products market in North America is expected to generate revenue at a CAGR of 10.17% during the forecast period 2024-2032.

The North America K-beauty products market is witnessing robust progress as consumers are particularly drawn to clean-labelled products that clearly display their ingredients. As of 2023, nearly 4,172 businesses in the Cosmetic & Beauty Products Manufacturing industry marked a 3.6% increase in revenue. As per Business Korea, the US accounted for a cumulative 12% of Korea’s cosmetics exports by May 2023. Thus, a significant contribution to the growth of luxury skincare is due to the influence of Korean celebrities promoting beauty products. These factors together have created substantial demand for K-beauty products in the North American region.

The countries researched in this region include the United States and Canada.

The United States holds the largest market share, achieving $3038.91 million in 2023.

In the US, beauty and personal care products exports were valued at around $8 billion in 2022, and approximately $12 billion in imports accounted for cosmetics.

This uptrend shows the rising popularity of K-Beauty products among Americans in embracing diverse and specialized beauty products from global markets. The high import figures suggest that US consumers prefer the unique benefits, such as advanced formulations and natural ingredients offered by K-Beauty brands.

As the beauty brands continue to diversify their products and expand, the K-beauty products market in the country is assured to witness consistent growth.

K-Beauty Products Market Forecast for Canada

According to KOTRA, nearly CAD 81.39 million worth of Korean cosmetics were imported into Canada in the year 2022. On average, Canadian households spent over $1,384 on cosmetics, including personal care products, reflecting a promising consumer interest and acceptance of Korean cosmetics due to their growing popularity, innovation, and quality. This presents an opportunity for K-beauty brands to expand their presence in the country through targeted marketing strategies and partnerships with local retailers. As consumers prioritize personal care, the demand for cosmetics provides a favorable market for K-beauty products.

The market for K-Beauty Products is categorized into gender, distribution channel, and product type. The distribution channel segment comprises specialty/single-brand stores, supermarkets/hypermarkets, and E-commerce. The K-beauty products industry has transformed in the last decade due to growth in E-commerce and the increase in the number of social media platforms. A major influencer for K-beauty brands in online retail is the influencers who collaborate with K-beauty brands and attract a large consumer base worldwide.

The important contenders in the K-Beauty Products market are Peach & Lily, Adwin Korea Corporation, LG H&H Co Ltd, COSRX Inc, Clio Cosmetics, Able C&C Co Ltd, BNH Cosmetics Co Ltd, Amore Pacific Corporation, Cala Products, and Banila Co.

Peach and Lily is an online beauty retailer dedicated to bringing innovative and top-tier K-beauty products from Asia’s beauty-centric regions to consumers in the United States. The company specializes in cosmetics and skincare items, including creams, gel masks, fiber mascaras, anti-aging antioxidants, and skin-refining serums, all formulated without harmful chemicals, parabens, alcohol, dyes, or sulfates. With shipping services extending across the US, the UK, and the Asia-Pacific region, Peach and Lily is based in New York City.

Latest from the Company:

By 2023, Peach & Lily gained widespread recognition, nearing an impressive milestone of $100 million in annual net sales. This year the brand intends to delve into augmented reality to enhance the entertainment value of virtual options.

1. North America K-beauty Products Market - Summary
2. Industry Outlook: 2.1. Impact Analysis On The K-beauty Products Market; 2.1.1. Covid-19 Impact On The K-beauty Products Market; 2.2. Porter’s Five Forces Analysis; 2.2.1. Threat Of New Entrants; 2.2.2. Threat Of Substitutes; 2.2.3. Bargaining Power Of Buyers; 2.2.4. Bargaining Power Of Suppliers; 2.2.5. Threat Of Competitive Rivalry; 2.3. Regulatory Framework; 2.4. Supply Chain Analysis; 2.4.1. Raw Materials Assembly; 2.4.2. Product Manufacturing; 2.4.3. Quality Assurance & Labelling; 2.4.4. Distribution; 2.4.5. End-consumers; 2.5. Key Buying Impact Analysis; 2.5.1. Price; 2.5.2. Ingredients Used; 2.5.3. Labelling & Packaging; 2.5.4. Skin Type; 2.6. Key Market Strategies; 2.6.1. Collaborations; 2.6.2. Product Launches; 2.6.3. Acquisitions; 2.6.4. Business Expansions; 2.7. Market Drivers; 2.7.1. Increasing Interest In Natural And Organic Personal Care Products; 2.7.2. Product Innovation And Extensive Investments In R&D; 2.7.3. Expansion Of The Male Skincare Segment; 2.8. Market Challenges; 2.8.1. Rise Of Counterfeit K-beauty Products; 2.8.2. Competition From Well-established International Brands; 2.9. Market Opportunities; 2.9.1. Influence Of Social Media And Millennials On K-beauty Products; 2.9.2. Peel-on Sun Patches Are Gaining Popularity; 2.9.3. Integration Of Ai, Big Data And Augmented Reality (Ar) In The Beauty Sector; 2.10. Analyst Perspective
3. North America K-beauty Products Market – By Gender: 3.1. Male; 3.2. Female
4. North America K-beauty Products Market – By Product Type: 4.1. Skincare; 4.1.1. Cleanser; 4.1.2. Toner; 4.1.3. Moisturizer; 4.1.4. Sheet Mask & Spot Patch; 4.1.5. Lip Care; 4.1.6. Eye Care; 4.1.7. Sun Protection; 4.2. Body Care; 4.2.1. Hand Care; 4.2.2. Foot Care; 4.2.3. Hair Care; 4.3. Makeup; 4.3.1. Eye Makeup; 4.3.2. Lip Makeup; 4.3.3. Face Makeup
5. North America K-beauty Products Market – By Distribution Channel: 5.1. Specialty/Single-brand Stores; 5.2. Supermarkets/Hypermarkets; 5.3. E-commerce
6. North America K-beauty Products Market – By Country Outlook: 6.1. North America; 6.1.1. Country Analysis; 6.1.1.1. United States; 6.1.1.1.1. United States K-beauty Products Market Forecast & Prospects; 6.1.1.2. Canada; 6.1.1.2.1. Canada K-beauty Products Market Forecast & Prospects
7. Competitive Landscape: 7.1. Able C&C Co Ltd; 7.1.1. Overview; 7.1.2. Product Portfolio; 7.1.3. Key Strengths; 7.1.4. Key Challenges; 7.2. Adwin Korea Corporation; 7.2.1. Overview; 7.2.2. Product Portfolio; 7.2.3. Key Strengths; 7.2.4. Key Challenges; 7.3. Amore Pacific Corporation; 7.3.1. Overview; 7.3.2. Product Portfolio; 7.3.3. Key Strengths; 7.3.4. Key Challenges; 7.4. Banila Co; 7.4.1. Overview; 7.4.2. Product Portfolio; 7.4.3. Key Strengths; 7.4.4. Key Challenges; 7.5. Bnh Cosmetics Co Ltd; 7.5.1. Overview; 7.5.2. Product Portfolio; 7.5.3. Key Strengths; 7.5.4. Key Challenges; 7.6. Cala Products; 7.6.1. Overview; 7.6.2. Product Portfolio; 7.6.3. Key Strengths; 7.6.4. Key Challenges; 7.7. Clio Cosmetics; 7.7.1. Overview; 7.7.2. Product Portfolio; 7.7.3. Key Strengths; 7.7.4. Key Challenges; 7.8. Cosrx Inc; 7.8.1. Overview; 7.8.2. Product Portfolio; 7.8.3. Key Strengths; 7.8.4. Key Challenges; 7.9. Lg H&H Co Ltd.; 7.9.1. Overview; 7.9.2. Product Portfolio; 7.9.3. Key Strengths; 7.9.4. Key Challenges; 7.10. Peach & Lily; 7.10.1. Overview; 7.10.2. Product Portfolio; 7.10.3. Key Strengths; 7.10.4. Key Challenges
8. Research Methodology & Scope: 8.1. Research Scope & Deliverables; 8.2. Sources Of Data; 8.3. Research Methodology
Tables List: Table 1: North America K-beauty Products Market, By Country Outlook, 2024-2032 (In $ Million); Table 2: List Of Collaborations; Table 3: List Of Product Launches; Table 4: List Of Acquisitions; Table 5: List Of Business Expansions; Table 6: North America K-beauty Products Market, By Gender, 2024-2032 (In $ Million); Table 7: North America K-beauty Products Market, By Product Type, 2024-2032 (In $ Million); Table 8: North America K-beauty Products Market, By Distribution Channel, 2024-2032 (In $ Million); Table 9: North America K-beauty Products Market, By Country Outlook, 2024-2032 (In $ Million)
Figures List: Figure 1: Supply Chain Analysis; Figure 2: Key Buying Impact Analysis; Figure 3: North America K-beauty Products Market, By Gender, 2023 & 2032 (In %); Figure 4: North America K-beauty Products Market, By Male, 2024-2032 (In $ Million); Figure 5: North America K-beauty Products Market, By Female, 2024-2032 (In $ Million); Figure 6: North America K-beauty Products Market, By Product Type, 2023 & 2032 (In %); Figure 7: North America K-beauty Products Market, By Skincare, 2024-2032 (In $ Million); Figure 8: North America K-beauty Products Market, By Skincare, 2023 & 2032 (In %); Figure 9: North America K-beauty Products Market, By Cleanser, 2024-2032 (In $ Million); Figure 10: North America K-beauty Products Market, By Toner, 2024-2032 (In $ Million); Figure 11: North America K-beauty Products Market, By Moisturizer, 2024-2032 (In $ Million); Figure 12: North America K-beauty Products Market, By Sheet Mask & Spot Patch, 2024-2032 (In $ Million); Figure 13: North America K-beauty Products Market, By Lip Care, 2024-2032 (In $ Million); Figure 14: North America K-beauty Products Market, By Eye Care, 2024-2032 (In $ Million); Figure 15: North America K-beauty Products Market, By Sun Protection, 2024-2032 (In $ Million); Figure 16: North America K-beauty Products Market, By Body Care, 2024-2032 (In $ Million); Figure 17: North America K-beauty Products Market, By Body Care, 2023 & 2032 (In %); Figure 18: North America K-beauty Products Market, By Hand Care, 2024-2032 (In $ Million); Figure 19: North America K-beauty Products Market, By Foot Care, 2024-2032 (In $ Million); Figure 20: North America K-beauty Products Market, By Hair Care, 2024-2032 (In $ Million); Figure 21: North America K-beauty Products Market, By Makeup, 2024-2032 (In $ Million); Figure 22: North America K-beauty Products Market, By Makeup, 2023 & 2032 (In %); Figure 23: North America K-beauty Products Market, By Eye Makeup, 2024-2032 (In $ Million); Figure 24: North America K-beauty Products Market, By Lip Makeup 2024-2032 (In $ Million); Figure 25: North America K-beauty Products Market, By Face Makeup, 2024-2032 (In $ Million); Figure 26: North America K-beauty Products Market, By Distribution Channel, 2023 & 2032 (In %); Figure 27: North America K-beauty Products Market, By Specialty/Single-brand Stores, 2024-2032 (In $ Million); Figure 28: North America K-beauty Products Market, By Supermarkets/Hypermarkets, 2024-2032 (In $ Million); Figure 29: North America K-beauty Products Market, By E-commerce, 2024-2032 (In $ Million); Figure 30: North America K-beauty Products Market, By Country Outlook, 2023 & 2032 (In %); Figure 31: United States K-beauty Products Market 2024-2032 (In $ Million); Figure 32: Canada K-beauty Products Market 2024-2032 (In $ Million)