South Korea Colour Cosmetics Market to Grow at a CAGR of 5.9% During 2024-2032, Aided by the Increasing Demand for Natural and Organic Colour Cosmetic Products

The South Korea colour cosmetics market growth is driven by the increasing preference for natural and organic colour cosmetic products, amidst the increasing fashion and beauty consciousness. Colour cosmetics are integral to personal grooming worldwide, including foundations, lipsticks, and eyeliners. South Korea leads in innovative beauty trends, epitomized by K-beauty's focus on radiant skin and quality cosmetics. Consumer demand for cosmetics with skincare benefits drives the growth of South Korea's cosmetics market, particularly for multifunctional products like BB and CC creams offering coverage alongside UV protection and hydration.

Table: Total market size for cosmetics (USD Million), 2019-2021

South Korea's dynamic beauty market, influenced by the global K-Wave, drives significant growth with advanced technology like augmented reality. Offline beauty stores use virtual mirrors to let customers try makeup virtually, reflecting trends in natural beauty and K-entertainment. The rise of K-Beauty, fueled by K-pop and K-drama, further boosts the colour cosmetics market in the country.

The expansion of the colour cosmetics market in South Korea is driven by trends set by the entertainment industry, where celebrities and artists influence beauty standards. Appearance holds significant importance in Korean society, with BB cream, foundation, and concealer being popular among both men and women. This trend prompts cosmetic companies to meet the diverse needs of gender-neutral consumers in the market.

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Market Breakup by Target Market, Application, and Distribution Channels:

• The market is segmented based on target market into mass products and prestige products.

• Based on application, the market can be divided into hair products, lip products, face products, and eye make up, among others.

• On the basis of distribution channels, the market is categorised into supermarkets and hypermarkets, cosmetic stores, and online, among others.

Key Findings of the Report:

• The South Korea colour cosmetics market is growing due to consumers seeking beauty products that enhance appearance while offering skincare benefits. Demand for multifunctional cosmetics like BB and CC creams, which provide coverage and skincare advantages, is rising.

• South Korea's significant investment in beauty research and development has yielded innovative products like cushion foundations, lip tints, and eyeshadow sticks, meeting domestic and international demand and expanding market potential.

• South Korea's strong digital infrastructure and widespread e-commerce contribute positively to the colour cosmetics market. Digital platforms provide accessibility and showcase influencers' techniques and product reviews, enhancing the market growth potential.

• Rising demand for natural, cruelty-free cosmetics with eco-friendly packaging is expected to aid the market growth. Organic and natural products are gaining popularity as premium, high-quality options, appealing to diverse consumers in South Korea's color cosmetics market.

Key Offerings of the Report:

• The EMR report gives an overview of the South Korea colour cosmetics market for the periods (2018-2023) and (2024-2032).

• The report also offers historical (2018-2023) and forecast (2024-2032) market information for the target market, application, and distribution channels of colour cosmetics in South Korea.

• The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the South Korea colour cosmetics market are L'Oréal S.A., EM Cosmetics LLC, CLIO COSMETICS, Unilever Plc, and Revlon Inc, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

Key Highlights of the Report

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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.