South Korea Cosmetics Packaging Market Report and Forecast 2024-2032

South Korea Cosmetics Packaging Market Outlook

The South Korea Cosmetics Packaging market is expected to grow at a CAGR of about 1.1% in the forecast period of 2024-2032. The surge of social media, celebrity influence, and the expansion of e-commerce platforms are anticipated to scale up the market growth during the mentioned forecast period.

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Expanding E-Commerce and Entertainment Industry are Bolstering the Market Growth

Cosmetics and personal-care items are used to maintain hygiene, enhance looks, and also help raise self-esteem and confidence. The entertainment industry makes great use of cosmetics. As a result, the market for cosmetic packaging is expanding due to the ongoing need for cosmetic items. A wide variety of cosmetics, including powder, liquid, and creams, are available. Hence, an extensive range of cosmetic packaging in various volume capacities, designs, and shapes is in demand. The marketing of cosmetic products also uses cosmetic packaging. An appealing packaging helps in attracting the customers' attention and consequently bolsters the market growth.

The market is further growing due to the expansion of e-commerce, the high demand for cosmetics in daily life and the rise of social media influencers. South Korea has an ageing population, and society puts a lot of emphasis on exterior looks, which boosts cosmetics consumption in the country. Hence, the cosmetics packaging sector is anticipated to proliferate as the population ages. Improved living standards, a fast and busy lifestyle, and increased discretionary spending contribute to the market's expansion.

The e-commerce industry is benefiting from the expanding smartphone market and rising internet usage, boosting online sales of cosmetics. Social media and celebrities' influence has significantly changed peoples' habits and preferences during the past few years. Musician and actress IU became CNP Laboratory's ambassador , making the brand popular overseas. Similarly, VT cosmetics, known for their innovative skin science technology and fashionable packaging, collaborated with BTS member V, propelling the cosmetics and cosmetics packaging market even further. 

Market Segmentation

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The primary goal of packaging  is to protect the goods from air, light, heat, cold, moisture, dust, etc. In addition to serving as a means of containment, cosmetic packaging also helps improve appearances. The ingredients of the cosmetic are listed on the packaging, as well as the logo of the cosmetic manufacturer.

Based on type, the South Korea cosmetics packaging market can be segmented into:

• Bottles

• Jars

• Tubes

• Containers

• Flexible Plastics

• Folding Cartons

• Others

Based on material, the cosmetics packaging market of South Korea can be segmented into:

• Metal

• Glass

• Rigid Plastic

• Paper-based

• Flexible Packaging

On the basis of application, the South Korea cosmetics packaging market can be divided into:

• Skincare

• Colour Cosmetic

• Hair Care

• Fragrances and Perfumes

• Oral Care

• Others

On the basis of provinces, the South Korea cosmetics packaging market can be bifurcated into:

• North Chungcheong

• South Chungcheong

• Gangwon

• Gyeonggi

• North Gyeongsang

• South Gyeongsang

• South Jeolla

• Jeju Special Self-Governing Province

Sustainable Alternatives Like Paper-Based Packaging and Government Norms to Augment the Market for Eco-Friendly Packaging

The market for cosmetic packaging is anticipated to experience growth in the paper-based sector. It is a highly sought-after material for cosmetics packaging due to factors like recyclability, ease of maintenance, and the use of eco-friendly substances in the production of packaging products. 

South Korea implemented Recycling of Resources Act as they aim to increase their recycling rate from 30% to 70% by 2030. The Recycling Act stipulates requirements for packaging materials' capacity to be recycled, both for their design and those that are challenging to recycle such as PVC and coloured PET bottles. Due to the rapid growth and expansion of cosmetic products throughout South Korea, cosmetic packaging has become increasingly popular. The demand for innovative, attractive, and environmentally friendly cosmetic packaging is being driven by appeal from cosmetic brands. 

People's visual perception  is susceptible to colour. In the cosmetics packaging industry, colour design is crucial. The ideal fusion of psychological and physical functions properly represents the product's qualities and can grab consumers' attention in successful product packaging. Different colours and packaging are created for target clients. For example, dark hues like black, scarlet, and purple are commonly utilized in lines of items that emphasize originality and efficiency, giving customers a sense of elegance, charisma, and nobility. Therefore, packaging made keeping in mind the consumer’s perspective and characteristics further propels the consumption of the product, which boosts the packaging market.

The durability of bottle packaging can be attributed to its dominant market position. Most people choose plastic bottles since they are lightweight, convenient to carry, and not easily breakable. Additionally, the attractive and luxurious appearance of glass bottles is contributing to the rapidly growing demand for bottles for foundations, perfumes, and aromas.

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Use of Bioplastics in 3D Printing Technology is Anticipated to Gain a Significant Market Share in the Forecast Period

Improvements in 3D technologies  have made it possible for makers of cosmetic packaging to create packaging with exquisite shapes and designs. The benefits of this technology go beyond just quick production and shape flexibility. The planet may greatly benefit from 3D printing. This technique can be characterised as ecological since it functions as a highly effective manufacturing method that can make use of a variety of recycled or environmentally friendly materials, such as bioplastics . 

Plant-based polymers for 3D printing are relatively simple to process than oil-based plastics because they are made from natural and renewable resources. Additionally, they are odourless and food safe. Further, manufacturing firms are now using advanced technologies to promote sales of their cosmetics, such as introducing new products with natural and herbal ingredients of premium quality.

Key Players in the South Korean Cosmetics Packaging Market

The report gives a detailed analysis of the following key players in the South Korea cosmetics packaging market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

• APR Packaging Korea Inc.

• Cosmedique Co., Ltd.

• Korea Cosmetic. Packaging (KCP)

• Look To Go Co., Ltd (Sourcinglab)

• Yechan Co., Ltd.

• Dong Bang Plastic

• 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.

Key Highlights of the Report