K-Beauty Products Market Developments and Industry Outlook

The global K-beauty products market was valued at USD 91.99 billion in 2022 and is projected to reach USD 187.4 billion by 2030, expanding at a CAGR of 9.3% from 2023 to 2030. Market growth is largely attributed to the strong emphasis placed by K-beauty brands on safe, effective, and naturally derived ingredients, which has significantly increased consumer trust and adoption worldwide.

The Korean cosmetics industry demonstrated steady growth during the COVID-19 pandemic, driven by heightened awareness of skincare routines and the perceived long-term benefits of K-beauty formulations. Rising global demand has encouraged leading companies to intensify investments in research and development, launch innovative product lines, and pursue strategic mergers and acquisitions. These initiatives are helping brands maintain competitive positions while responding effectively to evolving consumer preferences.

Key Market Trends & Insights

• North America dominated the global K-beauty products market with a share of over 35% in 2022.
• By product type, skin care K-beauty products accounted for more than 65.8% of total revenue in 2022.
• The hair care segment is expected to grow at a CAGR of 10.5% from 2023 to 2030.
• By end user, the women segment led the market with a share of over 62.7% in 2022.
• By distribution channel, supermarkets and hypermarkets held the largest share, accounting for over 45% in 2022.

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Market Size & Forecast

• 2022 Market Size: USD 91.99 Billion
• 2030 Projected Market Size: USD 187.4 Billion
• CAGR (2023–2030): 9.3%
• Largest Market (2023): North America
• Fastest-Growing Region: Asia Pacific

Competitive Landscape

The K-beauty products market is highly competitive, characterized by a large number of domestic and international brands offering diverse product portfolios. To strengthen market presence, key players are prioritizing new product development, strategic collaborations, geographic expansion, and omnichannel distribution strategies.

• In July 2022, Saturday Skin partnered with Nykaa to expand its footprint in the Indian market. Through this collaboration, the brand introduced a wide range of skincare products via Nykaa’s website and mobile application.
• In November 2022, L’Oréal announced the launch of new product ranges inspired by C-Beauty, K-Beauty, and J-Beauty consumers, in collaboration with Shihyo. The collection features 24 herbal ingredients fermented in rice, combined with innovative Asian skincare techniques.

Key Companies in the Global K-Beauty Products Market

• BANILA CO
• AMOREPACIFIC
• The Crème Shop
• Clio
• CARVER KOREA CO. (Unilever)
• Able C&C
• The Face Shop, Inc.
• Nature Republic
• TONYMOLY

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Conclusion

The K-beauty products market is poised for sustained growth through 2030, supported by strong global demand for innovative, ingredient-focused skincare and beauty solutions. Continuous advancements in formulation science, expanding international distribution networks, and strategic collaborations are enabling K-beauty brands to broaden their global footprint. With rising interest across both mature and emerging markets, the industry is expected to remain a key contributor to the global cosmetics landscape.