Joanna Cosgrove, Contributing Editor03.16.16
It’s been a year since Beauty Packaging first shone a spotlight on the Korean beauty boom and in that time its impact on the global cosmetic and personal care industries has gained both momentum and credibility in beauty markets around the world.
A recent Washington Post article valued the Korean beauty market at $10 billion. Within South Korea, Mintel data pegs the country as one of the fastest growing markets for beauty and personal care markets, achieving nearly 6% growth in one year—which is astounding in comparison to runners up U.S. (3.9%) and UK (2.1%). Euromonitor placed the total value of skin care sales and color cosmetics in South Korea at $6.2 billion in 2014.
Competition for the attention of beauty consumers within the key Asian markets of China, Hong Kong, Taiwan and Singapore
A recent Washington Post article valued the Korean beauty market at $10 billion. Within South Korea, Mintel data pegs the country as one of the fastest growing markets for beauty and personal care markets, achieving nearly 6% growth in one year—which is astounding in comparison to runners up U.S. (3.9%) and UK (2.1%). Euromonitor placed the total value of skin care sales and color cosmetics in South Korea at $6.2 billion in 2014.
Competition for the attention of beauty consumers within the key Asian markets of China, Hong Kong, Taiwan and Singapore
Continue reading this story and get 24/7 access to Beauty Packaging for FREE
FREE SUBSCRIPTION
