South Korea Cosmetics Market Outlook

According to the report by Expert Market Research (EMR), the South Korea cosmetics market attained a value of USD 17.45 billion in 2024. Aided by the increasing consumer demand for premium skincare products, the expansion of the K-beauty industry, and the growing global influence of Korean cosmetic brands, the market is projected to grow at a CAGR of 5.40% between 2025 and 2034, reaching a value of USD 29.53 billion by 2034.

The South Korea cosmetics industry is globally recognized for its innovation, quality, and advanced formulations. It encompasses a wide range of products including skincare, makeup, haircare, and personal care items. The country’s cosmetics market is driven by a deep-rooted beauty culture, significant investment in research and development (R&D), and the increasing adoption of beauty technologies. South Korea has emerged as a global trendsetter in the beauty industry, with its products and beauty routines influencing consumer preferences worldwide.

South Korea Cosmetics Market Size and Share

The South Korea cosmetics market represents one of the largest beauty markets in Asia and holds a significant share of the global cosmetics industry. The skincare segment dominates the market, accounting for the majority of revenue share, driven by the country’s strong focus on skin health and the use of innovative ingredients such as hyaluronic acid, snail mucin, ginseng, and fermented extracts.

Makeup products also contribute considerably to the market, particularly with the rising popularity of BB creams, cushion compacts, and other multifunctional beauty items that originated in South Korea. Haircare and men’s grooming products are additional growing categories, supported by changing consumer lifestyles and increasing awareness regarding personal care among male consumers.

Leading domestic brands such as Amorepacific Corporation, LG Household & Health Care, Innisfree, Etude House, and The Face Shop dominate the market landscape. These brands have established strong domestic distribution networks and have successfully expanded their presence internationally, particularly in markets like China, Japan, Southeast Asia, and North America.

In addition to homegrown companies, international brands have also entered the South Korean market, attracted by its high purchasing power and trend-sensitive consumers. This combination of local innovation and global competition has made the market highly dynamic and diverse.

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South Korea Cosmetics Market Trends

Several key trends are shaping the evolution of the South Korea cosmetics market. One of the most significant is the rising global popularity of K-beauty. Korean beauty products are now recognized worldwide for their innovative formulations, natural ingredients, and aesthetically appealing packaging. The “K-beauty wave” has led to strong export performance, with Korean cosmetics being highly sought after in Asia, Europe, and North America.

Another emerging trend is the increasing focus on clean and sustainable beauty. Consumers are becoming more conscious about the environmental and ethical impact of their purchases, driving demand for eco-friendly, vegan, and cruelty-free cosmetics. Korean brands are responding by using biodegradable packaging, plant-based ingredients, and sustainable production processes.

The integration of advanced technologies such as artificial intelligence (AI), augmented reality (AR), and data analytics is revolutionizing the beauty industry in South Korea. AI-driven skincare analysis tools, personalized beauty recommendations, and AR-based virtual try-on applications are becoming increasingly popular, enhancing consumer engagement and shopping convenience.

Additionally, the growth of e-commerce and digital retail channels is reshaping the distribution landscape. With the rise of online platforms such as Coupang, Naver Shopping, and global e-marketplaces, consumers can access a wide range of beauty products conveniently. The expansion of social commerce through platforms like Instagram, TikTok, and YouTube, where influencers and celebrities promote products, has further accelerated online sales.

Another noteworthy trend is the increasing demand for men’s cosmetics. South Korea is one of the few countries where male grooming products are a mainstream category. With changing social norms and the influence of K-pop culture, men are increasingly adopting skincare and makeup products as part of their daily routines.

Drivers of Growth

Several factors are driving the growth of the South Korean cosmetics market. Foremost among these is the strong domestic demand for high-quality skincare and beauty products, supported by the country’s cultural emphasis on appearance and self-care. Consumers are highly knowledgeable and discerning, leading to continuous innovation and improvement in product quality by manufacturers.

The global expansion of Korean beauty brands is another key growth driver. The successful internationalization of K-beauty has positioned South Korea as a leading exporter of cosmetics, with products gaining popularity for their affordability, unique ingredients, and effectiveness. Government initiatives supporting cosmetics exports and trade agreements with various countries have further strengthened this trend.

The rise in disposable income and changing consumer lifestyles are also boosting the market. With a growing middle-class population and increased urbanization, consumers are spending more on premium beauty and personal care products. The younger generation, particularly Millennials and Gen Z, plays a crucial role in driving trends, favoring innovative and multifunctional cosmetics that align with their fast-paced lifestyles.

Moreover, advancements in research and development (R&D) have positioned South Korea as a hub for beauty innovation. The country invests heavily in developing new skincare technologies, bioactive ingredients, and dermatologically tested formulations, leading to the creation of products that cater to specific skin types and concerns.

South Korea Cosmetics Market Segmentation

The market can be divided based on category, price, category, gender and distribution channel.

Breakup by Category

Some of the major players explored in the report by Expert Market Research are as follows:

• Procter & Gamble Company
• LG Household and Health Co., Ltd.
• ABLE C&C, Inc.
• Korendy Cosmetics Inc.
• Amorepacific Corporation
• Others

Challenges and Opportunities

Despite its strong performance, the South Korean cosmetics market faces several challenges. One significant challenge is market saturation and intense competition. With numerous brands vying for consumer attention, maintaining brand differentiation and loyalty has become increasingly difficult.

The reliance on exports to China also poses a potential risk, as regulatory changes or geopolitical tensions could impact trade flows. Additionally, the proliferation of counterfeit products in both domestic and international markets undermines brand reputation and consumer trust.

However, these challenges are accompanied by substantial opportunities. The growing global interest in natural, organic, and sustainable beauty products offers a lucrative avenue for innovation. South Korean brands that prioritize ethical sourcing, environmental responsibility, and transparency stand to gain a competitive advantage.

Furthermore, the rising demand for personalized beauty solutions represents a major growth opportunity. The integration of AI and biotechnology to create customized formulations tailored to individual skin types and conditions will likely redefine the beauty landscape.

South Korea Cosmetics Market Forecast

Looking forward, the South Korea cosmetics market is poised for robust expansion over the forecast period. By 2034, the market is expected to reach USD 29.53 billion, supported by technological innovation, strong domestic demand, and growing international recognition of K-beauty products.

Skincare will continue to dominate the market, while categories such as men’s grooming, haircare, and eco-friendly beauty are projected to exhibit the fastest growth. The proliferation of online retail and digital marketing will further enhance accessibility and consumer engagement.