Press Release
Press Release
South Korea ranks among the top ten global beauty markets, renowned for its innovative products, use of natural and high-quality ingredients, and attractive packaging. The South Korea cosmetics packaging market benefits from the high demand for cosmetics and skin care products in the country and high consumer purchasing power. In 2021, the value of cosmetics produced in South Korea returned to pre-pandemic levels, increasing by 9.8% to $14.5 billion. Additionally, cosmetics exports reached a record high, growing by 21.3% to $9.2 billion compared to the previous year.
Growing focus on reducing plastic waste generation and increasing research and development for producing eco-friendly cosmetic packaging are aiding the growth of the South Korean market. Several companies are taking initiatives to provide eco-friendly packaging materials and solutions to meet the rising consumer demand for sustainable products.
Further, high demand from e-commerce platforms for cosmetics products has fueled the market for cosmetics packaging. The companies ensure high-quality packaging is used to avoid spillage of the products in transit. According to the World Bank, over 97% of South Korean individuals have access to the internet. About 32.7% of total mobile subscriptions in South Korea use 5G technology, making up 24.53 million users as of August 2022. This is expected to further enhance the online sales of cosmetics products in the country, further driving the demand for cosmetics packaging for secure delivery of products.
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The major players in the South Korea cosmetics packaging market are APR Packaging Korea Inc., Cosmedique Co., Ltd., Korea Cosmetic. Packaging (KCP), Look To Go Co., Ltd (Sourcinglab), Yechan Co., Ltd., and Dong Bang Plastic, 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.
REPORT FEATURES | DETAILS |
Base Year | 2023 |
Historical Period | 2018-2023 |
Forecast Period | 2024-2032 |
Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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Breakup by Type |
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Breakup by Material |
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Breakup by Application |
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Breakup by Provinces |
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Market Dynamics |
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Competitive Landscape |
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Companies Covered |
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