08.03.23
The global K-beauty products market is expected to reach $18.3 billion by 2030, according to a new report by Straits Research. The market is being driven by the increasing popularity of Korean skincare products, which are known for their gentle formulations and natural ingredients.
K-beauty products have gained a following in recent years due to the rise of social media. Fashion-conscious individuals in North America and Asia have become more aware of K-beauty products through blogs, YouTube, and Instagram. These platforms have helped to spread knowledge about Korean skincare techniques and products, which have appealed to consumers who are looking for gentle and natural beauty products.
The Asia-Pacific region is expected to remain the largest market for K-beauty products, accounting for a 8.3% CAGR during the forecast period. This is due to the region's large population and growing consumer demand for natural and organic beauty products. North America is also expected to be a major market for K-beauty products, with a CAGR of 10.5%. This is due to the increasing popularity of Korean skincare regimens among North American consumers.
The K-beauty market is being driven by a number of factors, including the growing popularity of Korean skincare products, the increasing demand for natural and organic beauty products, and the rising affluence of consumers in emerging markets. The market is also being supported by the innovative marketing strategies of K-beauty companies, which have leveraged social media to reach a global audience.
Read the full report.
K-beauty products have gained a following in recent years due to the rise of social media. Fashion-conscious individuals in North America and Asia have become more aware of K-beauty products through blogs, YouTube, and Instagram. These platforms have helped to spread knowledge about Korean skincare techniques and products, which have appealed to consumers who are looking for gentle and natural beauty products.
The Asia-Pacific region is expected to remain the largest market for K-beauty products, accounting for a 8.3% CAGR during the forecast period. This is due to the region's large population and growing consumer demand for natural and organic beauty products. North America is also expected to be a major market for K-beauty products, with a CAGR of 10.5%. This is due to the increasing popularity of Korean skincare regimens among North American consumers.
The K-beauty market is being driven by a number of factors, including the growing popularity of Korean skincare products, the increasing demand for natural and organic beauty products, and the rising affluence of consumers in emerging markets. The market is also being supported by the innovative marketing strategies of K-beauty companies, which have leveraged social media to reach a global audience.
Key Takeaways
- The global K-beauty products market is expected to reach $18.3 billion by 2030.
- The market is being driven by the increasing popularity of Korean skincare products, the growing demand for natural and organic beauty products, and the rising affluence of consumers in emerging markets.
- The Asia-Pacific region is expected to remain the largest market for K-beauty products, followed by North America.
- K-beauty companies are using innovative marketing strategies to reach a global audience.
- Based on the product type, the sheet mask section is predicted to advance at a CAGR of 8.87% and hold the largest share.
Read the full report.