Detailed segmentation of international and local products. Meanwhile, South Korean women use, on average, up to 15 beauty products a day. The capital is Seoul (Sul). Beauty writer Katie Jayne Becker accompanied Yoon on a trip to South Korea for W magazine to write about the Korean beauty industry. Development in the industrial and manufacturing industries attributes to the growth of South Korea's economy and is the major growth engine for its export . It's also impossible to avoid. 2 And according to Euromonitor, in 2012, South Korean men spent U.S. $565, 21 percent of global sales for men's skin care. The South Korea beauty & personal care market is anticipated to harbor a CAGR of 2.24% across the forecast period of 2022 to 2028. Robust and transparent research methodology, conducted in . Five year forecasts of market trends and market growth. Sharon Thiruchelvam. The new trends set by Korean cosmetic industry are now started to be followed by major parts of the world. In 2021 South Korean beauty and personal care products sale within the country has increased more than . Plastic Surgery. The global phenomenon that is South Korea's cosmetics industry, known as K-beauty, is gaining popularity even with children as young as 4. South Korea Cosmetics & Toiletries - Market Assessment and Forecasts to 2024. . . If you walk into most cosmetics stores around the U.S., you will see Korean brands on display. As a result, DIY hair coloring, nail care, and care in other K-beauty categories are fetching new customers within the country. However, it's the mothership, which proudly boasts countless cosmetic surgery clinics and makeup stores in every second high-rise building. But, at this point, the domestic market is overcrowded. Despite the overall recession in the domestic beauty industry, the . Therefore, it's not really a surprise that, especially for Korean women seeking social and professional success, the pursuit of beauty is often an expectation. The COVID-19 outbreak in South Korea has had varying impacts across the beauty and personal care market. South Korea's beauty industry thrives on twin goals of conformity and perfection. Over the past decade, they have become the world's biggest male spenders on skincare, a . The Snail Beauty Products market has been segmented into various major geographies, including North America, Europe, Asia-Pacific, South America. Historic volume and value sizes, company and brand market shares. More than 30,000 buyers from the beauty industry and consumers visit the show annually, and InterCHARM Korea has become the largest and most . In a new report, we unpack the emerging trends within the beauty industry (cosmetics and skincare) in the first quarter of 2022 across the two largest beauty and cosmetics markets globally - South Korea and the United States. According to data released by the Foundation of Korea Cosmetic Industry Institute in May, exports of Korean cosmetics to mainland China increased 14.3 per cent in 2019 to just over $3 billion. Body dysmorphia is a mental health . South Koreans are often super glamorous and rely heavily on whitening p roducts. They're a lot of fun to browse. In 2018, K-beauty's market size was valued at 7.8 billion ($9.3 billion and is expected to reach 18.5 billion ($21.8 billion) by 2026. In 2017, South Korea's beauty industry was estimated to . In 2018, Korean cosmetics exports rose 110% in Indonesia and 65% in Southeast Asia. This article will be focusing on the hidden consequences of the unattainable beauty standards placed on South Korean Women. The cosmetic industry even came to the western side of the world as a part of the (Hallyu), also known as the "Korean Wave". And in South Korea -- often dubbed the "plastic surgery capital of the world" for its booming $10.7 billion industry -- there are concerns that virtual influencers could further fuel unrealistic . South Korea faces North Korea across a demilitarized zone (DMZ) 2.5 miles (4 km) wide that was established by the terms of the 1953 armistice that ended fighting in the Korean War (1950-53). South Korean men have long embraced beauty products deemed unmarketable to their Western counterparts. Then, in early 2014, K-Beauty reached another tipping point this one a PR success. Reports showed that the value of South Korean products imported to China has increased by 250%, 126% of which come from beauty products only. Its largest following (apart from South Korea itself) are the Philippines and Singapore. South Korean cosmetics conglomerate Amorepacific is scheduled to launch its first ever professional-grade beauty brand Holitual to meet rising consumer desire to have effective skin treatments in the comfort of their home. The last, and perhaps most damaging standard of beauty in South Korea is weight. Since 2013, is Milano Unica has activated a Korea Observatories, while in 2019 the Istituto Marangoni in Milan chooses 5 of their best students to make a series . In 2019, the United States imported more than $624 million in Korean cosmetics, and this number is predicted to grow. K-BEAUTY EXPO KOREA is being held in 7 cities around the world and successfully expanding its size every year. Three years ago, Suh Kyung-bae was the second-richest person in South Korea. But it's not just Korean entertainment - in the last 18 months, there has also been a rise in Korean beauty trends coming over to the West. Along with Hong Kong, Singapore and Taiwan, they are termed the Asian Tigers. South Korea is one of the world's fastest-changing beauty markets, introducing industry-leading innovations and globally setting trends. The current trend is the rise of do-it-yourself (DIY) beauty care. Aforementioned earlier, a major beauty standard in South Korea is having pale skin, since lighter skin equates to not having to work outdoors, which in turn, is associated with higher social statuses. In 2020, the market size was estimated to be $6.8 billion, a significant drop from the previous year's $9.4 billion due to impacts of COVID-19. The rising popularity of fashion magazines, beauty bloggers & vloggers, the K-pop celebrities is furthering the expansion of the South Korean beauty industry in China. Body dysmorphia. South Korea . The complex culture and history behind 'K-beauty'. South Korea's beauty industry has expanded beyond the country's borders, owing to the popularity of Korean celebrities and shows in Asia. Detailed analysis of major countries such as the . The introduction of new brands and innovative products, and unique consumer demands are expected to drive market growth. Asia Pacific accounted for approximately 70% of the total K-beauty products' market share. Korean beauty isn't just consumerism gone mad: beauty and appearance is institutionalised in the Korean culture. How South Korea took over the global skin care industry. Health & beauty is the leading channel in distribution of cosmetics & toiletries products in the country. The Korean cosmetic industry is more than 10 years ahead of its American, European, and Western counterparts. Today he's barely in the Top 10, in a stark reversal of a K-beauty boom known for minting billionaires . 1. Its domestic market size in 2017 was estimated to be $8.8 . Dates: 10/6/2022 - 10/8/2022. The number of beauty standards is endless, so we've created a list of the 8 best Korean beauty standards that are relevant today. Areas of Seoul like Myeondong are packed with beauty stores selling everything you never knew you needed. South Koreans are ensuring that their fashionable reputation is not damaged with coronavirus outbreak. May 2, 2017. Amorepacific's 'Ice Beauty' campaign introduces a new way for skincare storage: the refrigerator. With the prevalent popularity of the K-Beauty wave, beauty & personal care in South Korea are . South Korea bears all the signs of becoming an indomitable beauty powerhouse. The global cosmetics industry's revenue is expected to grow to at least $ 379 billion, and skin care is its main driver. The Korean beauty industry has seen a massive rise in product exports over the last five years. The South Korea cosmetics industry is considered as global center of innovations in cosmetics. "Korea has a long tradition in the textile industry. Nov 9, 2021. The K-Beauty Industry. . Such as cushion foundation & BB creams has been adopted across the world. The Korean cosmetic industry has gained a lot of popularity over the years. Meanwhile, a major feature of South Korean cosmetics majors is that they tend to have large numbers of retail outlets in their export markets. The plastic surgery market is huge in Korea, and many people spend thousands a month keeping up with the latest trends. With over 980,000 recorded plastic surgery operations a year, skincare and makeup stores lining streets, and a photo requirement on their professional resumes, South Korea seems to . In recent years, a new competitor has risen in the beauty and cosmetic industry - South Korea. The cosmetic industry is next to the music industry one of the biggest sources of income and influential forces in South Korea. The Beauty and Personal Care in South Korea report includes: Analysis of key supply-side and demand trends. LEE HYO-WON March 1, 2018 10:00 JST. Today he's barely Top 10, a stark reversal in a K-beauty boom known for minting billionaires, not breaking them. Its first introductions have come from k-pop and k-dramas becoming more international. I knew that in the duration of my time here I wished to experience this for myself first-hand to fully understand why their society is so obsessed with beauty and . K-beauty, as it's known, has reached international cult status, inspiring ardour in fans and raising the bar for the sometimes complacent global beauty industry. These days, no one bats an eyelid when a grandmother in Tunisia can sing along to BTS, while using K-beauty products endorsed by her favourite K-drama actor.. 3 This means men and women are constantly on the lookout for more items to buy, sample, and incorporate into their sometimes-lengthy daily . You can find tutorials ranging from how to wear makeup with a face mask to use hats to incorporate a protective face shield. The South Korean beauty and personal care products market is projected to register a CAGR of 5.22% during the forecast period (2022-2027). South Korea is one of the top 10 beauty markets in the world, known for innovation, gentle ingredients, and pleasing packaging. (Video: Min Joo Kim/The Washington Post) "The shiny . The use of snail slime, bee venom, starfish extract, pig collagen, and morphing masks are unique ingredients used to produce K-beauty products. South Korea Cosmetics Market Outlook 2017-2025. The total area of South Korea comprises 38,750 square miles, and it's the 107th largest country in the world in terms of area and size.Approximately more than 51,709,098 people live in the country, and it's the 27th most populated country in the world.. Today, we'll study the pestle analysis of South Korea. Open. 3,944.00. South Korea makes up about 45 percent of the peninsula's land area. Seoul: Three years ago, Suh Kyung-bae was the second-richest person in South Korea. Read more about Jamsu on KoreaProductPost. 1. The quest for slim jaws . LOS ANGELES, CA, September 18, 2022 /24-7PressRelease/ -- InterCHARM Korea, the largest beauty business platform in South Korea, will be held for three days from September 21 to 23 at Coex, Seoul. K-BEAUTY EXPO KOREA is the largest beauty trade show in Korea with the largest number of participating companies and professionals in beauty industry. Katherine Spowart, 24, has lived in Seoul, South Korea for nearly two years and runs SkinfullofSeoul, an Instagram account and blog dedicated . The Korean viral skincare trend of Jamsu will keep being popular in 2022 as well! It would focus on the macro-environmental factors that impacting the East Asian . In 2018, the South Korean beauty industry was estimated to have a value of more than $13.1 billion. All you need is an ice-cold water bath, and your regular makeup products. With that in mind, it's more than fair to say that the Korean beauty industry is booming. This continues to be the projection for the upcoming years. Online shopping penetration is very high, at 95% for those in their 20s, and 60% for those in their 50s. feminine hygiene sector is forecast to register the fastest value and volume growth during 2019-2024. Behind this, there lies a great interest in the external beauty of Koreans. While K-pop stars and Korean popular culture continue to fascinate multitudes of Chinese fans, K-beauty is struggling to maintain its relevance. As the world's 12th largest economy with a GDP (PPP) of US$1.459 trillion in 2010, South Korea has experienced huge economic growths from early 1960s to 1990s. The most 'recognizable' cosmetics brand in Korea is Sulwhasoo at 92.8% recognizability, followed by Hera and SKII (91.0% and 89.7%) 61% of 20-50-year-old Korean consumers consume health supplements. The DMZ, which runs for about 150 miles (240 km . It made Madam CJ Walker, an African-American manufacturer of skin and hair products, the country's first female self-made millionaire of any . Chapter 334 - 329 Beauty 3 Swordsman. K-beauty products emphasize greatly . South Korea is one of the world-leading pioneers in the beauty-related industry, which encapsulates skincare, fashion, cosmetic procedures, hair treatments, and many more innovations. The demand for K-beauty products (face masks, cleansers, moisturizers, makeup) is so high that the Korean beauty industry is now a top performer, forecasted to reach $14 billion by 2027. South Koreans have a strict standard of beauty that favors larger eyes (innocent puppy eyes), flawless skin, a small face, V-shaped jaw, pale skin, and a slim figure. South Korea is the leader of the global beauty industry, it continues to advance; analysts expect K-Beauty to generate immense growth and expansion of Korean skincare brands to bring in high revenue. The mature South Korean beauty . The Korean beauty market is among the top 10 around the world, with an estimated worth of over $13.1 billion in sales in 2018, according to Mintel, a global market intelligence agency. The beauty industry was built up initially because of demand from Korean women, who follow one of the most extensive skin-care regimens in the world, piling on between 10 and 18 products a day. "Basically, where Korea leads global beauty companies follow . Three years ago, Suh Kyung-bae was the second-richest person in South Korea. Nina Jobst. -25.50 -0.64%. "Korean women can't put anymore products on their face," Yoon says, laughing. Black beauty supply has long been a lucrative business. GBp. South Korea's beauty industry had enjoyed a blush of renewed optimism that its yearlong China nightmare was coming to an end as the two countries looked to be moving past a diplomatic standoff . South Korean Entertainment Industry News Record. 1 - Pro-beauty at home: Amorepacific launches 'home-aesthetic' brand to meet demand for result-driven cosmetics . The K-beauty products market size was valued at $10.2 billion in 2019 and is projected to reach $13.9 billion by 2027, growing at a CAGR of 9.0% from 2021 to 2027. Skin care has become a big money maker for the beauty industry. Today he's barely Top 10, a stark reversal in a K-beauty boom known for minting . Korean beauty is steering the US beauty market and continues to be on the rise for its superb formulations and . The average weight of women in South Korea is around 125 lbs as of 2007-40 lbs lighter than the United States . This attitude toward . Many of us assume South Korea came to the fore of the international beauty industry when they introduced and popularized the now-ubiquitous BB cream. LG Corp, Amorepacific . Evolution of South Korean fashion and Korean beauty industry in the time of coronavirus. According to a survey on the popularity of South Korean beauty products among select countries in Asia and Oceania in 2021, around 50 percent of respondents from India answered that K . It's a fairly simple Korean beauty trend that makes your makeup last longer without smudging. Following facial skincare, colour cosmetics makes up the second largest beauty category in the South Korean market, valued at $2.3 billion in 2017. Her two-page spread, called "Seoul Searching," showed her walking Seoul's cosmetics- and skincare-obsessed streets to . Korea is one of the top 10 beauty markets in the world, and it is constantly growing. Korean beauty startups have been able to break into the global market because the demand for K-beauty products is high. . This is a Korean entertainment in my imagination, not a stallion, not a The year was 2011 and no one realized that this South Korean debut was just the beginning of a whole new, world-sweeping, trend-setting beauty routine called K-Beauty, also known as the 10-step . Venue: KINTEX, Seoul, South Korea. Suh's $3.6 billion fortune down from roughly $8 billion in 2017 is largely comprised of shares in his family's cosmetics conglomerate . The Best Beauty Treatments in Seoul. The beauty industry's revenue is expected to grow within the next four . According to the analysis Investment opportunities in Korea fashion & beauty , the fashion market in South Korea is estimated at 41,5 billion dollars and is destined to grow. The South Korean beauty industry is one of the biggest in the world worth over $10 billion US. Asia-Pacific is one of the prominent regions in the market that solely accounted for approximately 70% of the total K-beauty market share in 2019. Dec 28, 2020. 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