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South Korea Cosmeceuticals Market Share, Growth, Statistics: By Product: Skin Care, Hair Care, Oral Care, Others; By Material Type: Natural, Multifunctional/ Synthetic; By Distribution Channels: Supermarket/Hypermarkets, Convenience Stores, Speciality Stores, Online, Others; Competitive Landscape: Industry Events and Developments; 2023-2028

South Korea Cosmeceuticals Market Outlook

The South Korea cosmeceutical market size reached a value of more than USD 445.2 million in 2022. The South Korea cosmeceutical industry is expected to grow at a CAGR of 6.5% between 2023 and 2028, reaching a value of USD 637.4 million by 2028.

 

Key Trends in the Market

Cosmetics with bioactive chemicals that are marketed as having medicinal advantages are called cosmeceuticals. The name is a combination of the words "cosmetics" and "pharmaceuticals." The word "cosmeceutical" describes a product that falls between cosmetic and pharmaceutical quality. These "professional" cosmetics include active components to promote healthier skin. These include antioxidants and anti-ageing compounds like vitamin C, vitamin A, peptides and marine extracts, among others. These components are termed "active" since they cause changes in the skin, whether it's enhancing texture and skin tone, plumping ageing skin, or lowering pigmentation.

 

The Declining Birth Rate and High Ageing Population is Aiding the Cosmeceutical Market Growth in South Korea

The increasing consumer inclination toward natural and nutrient-dense products for both beauty and healthcare can be attributed to the expansion of the cosmeceuticals industry in South Korea. The need for anti-ageing solutions to avoid wrinkles, uneven skin tone, age spots, and damaged hair is growing. As a result, the cosmeceutical sector witnessed significant market opportunities for product launches and development of the cosmeceutical industry in South Korea. Moreover, South Korea is likely to become a super-aged society by 2025. With the increasing ageing population, a large portion of the population spends on beauty and skincare products. This factor has prompted manufacturers to place more emphasis on skin care products with active anti-ageing properties.

 

The Growing Popularity of Botanicals, As Well As Ongoing Research and Development, Augments the Cosmeceutical Demand in South Korea

Many cosmeceutical formulations contain botanical extracts. The most often used extracts are those from green tea, pine bark, grape seeds, pomegranate, Coffea arabica and resveratrol. Botanical extracts provide a wide range of phenolic and polyphenolic antioxidants that reduce the generation of metalloproteinases, limit the formation of free radicals, and boost collagen synthesis. Polyphenols offer photoprotection and shield against skin cancer. Protein glycation, which leads to wrinkling and sallowness seen in people with UV exposure, is inhibited by polyphenols. Cyclooxygenase 2, inhibiting NF-B, and other inflammatory pathways, also function as an anti-inflammatory substance. Clinical studies support the advantages of topically applied plant extracts, which include reducing pigmentation, lowering skin redness, and improving fine lines and wrinkles. Furthermore, the growing disposable income and high standards of living further promotes the cosmeceutical market growth.

 

High Beauty Standards in Korean Society Motivate People as well as Manufacturers to Invest in a Variety of Cosmeceuticals

Korea's culture places a lot of emphasis on looks, and as a result, many individuals have undergone plastic surgery and used skincare and cosmetics to match the expected image of their nation. The craze around Korean skincare and cosmetics recently began with the Korean wave. People feel embarrassed by their natural characteristics as a result of the glorifying of unhealthy and unattainable beauty standards, which often impair their self-esteem. In order to conform to the standards, people spend a lot of money on beauty products, which boosts the cosmeceutical market growth in South Korea.

 

Market Analysis

On the basis of product, the South Korea cosmeceutical market can be segmented into skincare, hair care, and oral care, among others. The skin care segment is sub-segmented by type into anti-ageing, anti-acne, sun protection, and moisturisers, among others. The hair care segment is subdivided by type into shampoos and conditioners, and hair and dyes, among others. Based on material type, the South Korea cosmeceutical market can be divided into supermarket/hypermarkets, convenience stores, specialty stores, and online stores, among others.

 

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the South Korea cosmeceutical market, covering their competitive landscape and latest developments like mergers, acquisitions, investments and expansion plans.

 

  • Amorepacific Corporation
  • Able C&C Co., Ltd.
  • Unilever plc
  • Memebox Corporation
  • L’Oréal S.A
  • Beiersdorf AG
  • LG H&H Co., Ltd.
  • F&CO Co.,Ltd
  • Estee Lauder Inc.
  • TONYMOLY Co., Ltd
  • Others

 

Market Share by Product

The growing popularity of K-beauty and the launch of innovative cosmeceuticals are providing impetus to the industry growth across all three segments. Moreover, with the increasing number of skin concerns and the desire to get perfectly flawless skin, people are willing to spend on cosmeceutical products, leading to the expansion of the cosmeceutical market in South Korea. In the skin care segment, anti-ageing, sun protection, and skin lightening, among others, secure the major portion. In hair care segment, shampoos and conditioners hold the major share.

 

Market Share by Material Type

The availability of high-quality cosmeceuticals at competitive prices, along with the surge of organic products with plant-based formulations due to growing consumer awareness, are bolstering the cosmeceutical market in South Korea. Other factors, such as high smartphone and social media usage, as well as hectic lifestyles, are propelling online sales in the country. With the ease of access, offline stores such as convenience stores, specialty stores, and hypermarkets and supermarkets are also expected to follow a positive trajectory. The consumers’ growing environmental sensitivity regarding sustainable products and their packaging compels the manufacturers to incorporate eco-friendly materials, which also aids the continuous research and development in the cosmeceutical industry of South Korea.

 

Competitive Landscape

  • Able C&C Co., Ltd - Able C&C Co., Ltd. manufactures and distributes beauty products. Base foundation, point makeup, skin care, hair care, masks, body care, washing, and men's cosmetics are among the company's top sellers. Able Communications, the company's previous name, was used when it was first established in January 2001. In 2003, the name was changed to Able C&C Co., Ltd. The business sells its goods under a variety of brand names, including BeautyNET, MISSHA, A'PIEU, The Style, and M. The business sells its goods online, through retail locations, and through franchise stores.

 

  • Tonymoly Co., Ltd. - The company Tonymoly Co., Ltd. produces cosmetics and other skincare items. TONYMOLY, which was founded in Seoul in 2006, has already become a household brand in South Korea! Our high-quality ingredients mixed with cutting-edge technology are recognised by our distinctive and inimitable packaging since we invented the Korean beauty trend that has swept the cosmetic industry by storm. TONYMOLY has swiftly grown to become the top brand in Korean beauty and beyond thanks to its ability to make goods that blend quality and its distinctive container designs. TONYMOLY distinguishes itself by combining exciting concepts with high-quality items.

 

  • LG H&H Co Ltd.- A subsidiary of LG Corp. with headquarters in Korea, LG H&H Co Ltd., formerly LG Household & Healthcare Ltd., is primarily involved in the production and sale of cosmetics. The company divides up its market into three categories. The beauty division manufactures skincare and make-up items, as well as nutritious meals. The Health Segment primarily produces domestic goods including oral, body, and hair care products, as well as household detergents and other associated materials. The primary activity of the Refreshing Segment is the production of bottled water, juice, tea, cola, and other carbonated and non-carbonated beverages.

 

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2022
Historical Period 2018-2022
Forecast Period 2023-2028
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Product
  • Material Type
  • Distribution Channels
Breakup by Product
  • Skin Care
    • Anti-Ageing
    • Anti-Acne
    • Sun Protection
    • Moisturisers
    • Others
  • Hair Care
    • Shampoos and Conditioners
    • Hair Colours and Dyes
    • Others
  • Oral Care 
  • Others
Breakup by Material Type
  • Natural
  • Multifunctional/ Synthetic
Breakup by Distribution Channels
  • Supermarket/Hypermarkets
  • Convenience Stores
  • Speciality Stores
  • Online
  • Others
Market Dynamics
  • SWOT
  • Porter's Five Forces
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • Amorepacific Corporation
  • Able C&C Co., Ltd.
  • Unilever plc
  • Memebox Corporation
  • L’Oréal S.A
  • Beiersdorf AG
  • LG H&H Co., Ltd.
  • F&CO Co.,Ltd
  • Estee Lauder Inc.
  • TONYMOLY Co., Ltd.
  • Others

 

*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.

1    Preface    
2    Report Coverage – Key Segmentation and Scope
3    Report Description

    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary

    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Market Snapshot
7    Opportunities and Challenges in the Market
8    South Korea Cosmeceuticals Market Analysis

    8.1    Key Industry Highlights
    8.2    South Korea Cosmeceuticals Historical Market (2018-2022) 
    8.3    South Korea Cosmeceuticals Market Forecast (2023-2028)
    8.4    South Korea Cosmeceuticals Market by Product 
        8.4.1    Skin Care
            8.4.1.1    Market Share
            8.4.1.2    Historical Trend (2018-2022)
            8.4.1.3    Forecast Trend (2023-2028)
            8.4.1.4    Breakup by Type
                8.4.1.4.1    Anti-Ageing
                8.4.1.4.2    Anti-Acne
                8.4.1.4.3    Sun Protection
                8.4.1.4.4    Moisturisers
                8.4.1.4.5    Others
        8.4.2    Hair Care
            8.4.2.1    Market Share
            8.4.2.2    Historical Trend (2018-2022)
            8.4.2.3    Forecast Trend (2023-2028)
            8.4.2.4    Breakup by Type
                8.4.2.4.1    Shampoos and Conditioners
                8.4.2.4.2    Hair Colours and Dyes
                8.4.2.4.3    Others
        8.4.3    Oral Care 
            8.4.3.1    Market Share
            8.4.3.2    Historical Trend (2018-2022)
            8.4.3.3    Forecast Trend (2023-2028)
        8.4.4    Others
    8.5    South Korea Cosmeceuticals Market by Material Type
        8.5.1    Natural
            8.5.1.1    Market Share
            8.5.1.2    Historical Trend (2018-2022)
            8.5.1.3    Forecast Trend (2023-2028)
        8.5.2    Multifunctional/ Synthetic
            8.5.2.1    Market Share
            8.5.2.2    Historical Trend (2018-2022)
            8.5.2.3    Forecast Trend (2023-2028)
    8.6    South Korea Cosmeceuticals Market by Distribution Channels
        8.6.1    Supermarket/Hypermarkets
            8.6.1.1    Market Share
            8.6.1.2    Historical Trend (2018-2022)
            8.6.1.3    Forecast Trend (2023-2028)
        8.6.2    Convenience Stores
            8.6.2.1    Market Share
            8.6.2.2    Historical Trend (2018-2022)
            8.6.2.3    Forecast Trend (2023-2028)
        8.6.3    Speciality Stores
            8.6.3.1    Market Share
            8.6.3.2    Historical Trend (2018-2022)
            8.6.3.3    Forecast Trend (2023-2028)
        8.6.4    Online
            8.6.4.1    Market Share
            8.6.4.2    Historical Trend (2018-2022)
            8.6.4.3    Forecast Trend (2023-2028)
        8.6.5    Others
9    Market Dynamics
    9.1    SWOT Analysis
        9.1.1    Strengths
        9.1.2    Weaknesses
        9.1.3    Opportunities
        9.1.4    Threats
    9.2    Porter’s Five Forces Analysis
        9.2.1    Supplier’s Power
        9.2.2    Buyer’s Power
        9.2.3    Threat of New Entrants
        9.2.4    Degree of Rivalry
        9.2.5    Threat of Substitutes
    9.3    Key Indicators for Demand
    9.4    Key Indicators for Price
10    Competitive Landscape
    10.1    Market Structure
    10.2    Company Profiles
        10.2.1    Amorepacific Corporation
            10.2.1.1    Company Overview
            10.2.1.2    Product Portfolio
            10.2.1.3    Demographic Reach and Achievements
            10.2.1.4    Certifications
        10.2.2    Able C&C Co., Ltd.
            10.2.2.1    Company Overview
            10.2.2.2    Product Portfolio
            10.2.2.3    Demographic Reach and Achievements
            10.2.2.4    Certifications
        10.2.3    Unilever plc
            10.2.3.1    Company Overview
            10.2.3.2    Product Portfolio
            10.2.3.3    Demographic Reach and Achievements
            10.2.3.4    Certifications
        10.2.4    Memebox Corporation
            10.2.4.1    Company Overview
            10.2.4.2    Product Portfolio
            10.2.4.3    Demographic Reach and Achievements
            10.2.4.4    Certifications
        10.2.5    L’Oréal S.A
            10.2.5.1    Company Overview
            10.2.5.2    Product Portfolio
            10.2.5.3    Demographic Reach and Achievements
            10.2.5.4    Certifications
        10.2.6    Beiersdorf AG
            10.2.6.1    Company Overview
            10.2.6.2    Product Portfolio
            10.2.6.3    Demographic Reach and Achievements
            10.2.6.4    Certifications
        10.2.7    LG H&H Co., Ltd.
            10.2.7.1    Company Overview
            10.2.7.2    Product Portfolio
            10.2.7.3    Demographic Reach and Achievements
            10.2.7.4    Certifications
        10.2.8    F&CO Co.,Ltd
            10.2.8.1    Company Overview
            10.2.8.2    Product Portfolio
            10.2.8.3    Demographic Reach and Achievements
            10.2.8.4    Certifications
        10.2.9    Estee Lauder Inc.
            10.2.9.1    Company Overview
            10.2.9.2    Product Portfolio
            10.2.9.3    Demographic Reach and Achievements
            10.2.9.4    Certifications
        10.2.10    TONYMOLY Co., Ltd.
            10.2.10.1    Company Overview
            10.2.10.2    Product Portfolio
            10.2.10.3    Demographic Reach and Achievements
            10.2.10.4    Certifications
        10.2.11    Others
11    Key Trends and Developments in the Market

 

List of Key Figures and Tables

1.    South Korea Cosmeceuticals Market: Key Industry Highlights, 2018 and 2028
2.    South Korea Cosmeceuticals Historical Market: Breakup by Product (USD Million), 2018-2022
3.    South Korea Cosmeceuticals Market Forecast: Breakup by Product (USD Million), 2023-2028
4.    South Korea Cosmeceuticals Historical Market: Breakup by Material Type (USD Million), 2018-2022
5.    South Korea Cosmeceuticals Market Forecast: Breakup by Material Type (USD Million), 2023-2028
6.    South Korea Cosmeceuticals Historical Market: Breakup by Distribution Channels (USD Million), 2018-2022
7.    South Korea Cosmeceuticals Market Forecast: Breakup by Distribution Channels (USD Million), 2023-2028
8.    South Korea Cosmeceuticals Market Structure

Key Questions Answered in the Report

In 2022, the South Korea cosmeceutical market attained a value of nearly USD 445.2 million.

The market is projected to grow at a CAGR of 6.5% between 2023 and 2028.

The market is estimated to witness a healthy growth in the forecast period of 2023-2027 to reach USD 637.4 million by 2028.

The surge of botanicals, high demand for organic cosmeceuticals, rising disposable income, high standard of living, increased social media and smartphone usage are the key drivers of the South Korea cosmeceutical industry.

The Declining Birth Rate and High Ageing Population, along with high beauty standards for both men and women are the key trends in the cosmeceutical industry of South Korea.

The dominant type of cosmeceuticals in the industry are skincare, hair care, and oral care, among others.

The leading distribution channels in the market are supermarket/hypermarkets, convenience stores, specialty stores, and online stores, among others.

The major players in South Korea cosmeceutical industry are Amorepacific Corporation, Able C&C Co., Ltd., Unilever plc, Memebox Corporation, L’Oréal S.A, Beiersdorf AG, LG H&H Co., Ltd., F&CO Co.,Ltd, Estee Lauder Inc. and TONYMOLY Co., Ltd, among others.

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