In 2023, the production value of cosmetics in South Korea amounted to around ***** trillion South Korean won. That year, the market size of the South Korean cosmetics industry stood at about **** trillion South Korean won. The production of Korean cosmetic products started declining in 2020 after previously showing significant growth.

Domestic cosmetics industry South Korea is one of the leading beauty markets globally, with skincare being the most significant sector. Even with a recent drop in the industry’s market size, its revenue is set to increase in the near future. Along with the seemingly great importance Koreans place on their appearance, an emerging global affinity for Korean products has majorly contributed to a surge in exports of Korean cosmetics.

Korean cosmetics – an international success story Paralleling the success of the Korean wave, also called Hallyu, Korean cosmetics have gained global popularity as well. These have proven to be appealing to consumers by offering a different approach from their competitors, especially by using less invasive ingredients. The Korean beauty industry thus provides an alternative to products from American, European, or Japanese market leaders. Given the Korean waves’ impact in Asia, other Asian countries in particular view Korean beauty products favorably. Nowadays, Korean beauty products have become mainstream.

In 2023, the market size of the cosmetics industry in South Korea amounted to more than **** trillion South Korean won. The market saw a marked drop from 2019, and again in 2022. As K-beauty products gained global popularity, the production and exports of Korean cosmetic products had significantly grown from 2014 to 2023. Key players The South Korean cosmetics industry has been dominated by local products. Based on sales revenue, the leading domestic companies were LG Household & Health Care and the Amorepacific Group. Both have a number of sub-brands, for instance, the Face Shop, O Hui, Sum, and Belif under the former; Sulwhasoo, Laneige, Innisfree, IOPE, Hera, Etude House, and Mamonde belong to the latter. Another key player, Korea Kolmar, is mainly engaged in the original development and design manufacturing (ODM) and original equipment manufacturing (OEM) of cosmetics. Korean cosmetics in the global market Global companies are increasingly interested in the Korean cosmetics market. L'Oreal, the world's largest cosmetics company, has acquired a Korean cosmetics company “Style Nanda”. Style Nanda originally started with an online fashion mall and now it is more well-known for its cosmetics brand 3CE. In addition, AHC, which is famous for its eye cream, was acquired by Unilever, and Have&Be, which owns the Dr.Jart brand, was acquired by Estee Lauder.

The size of the Korean Skin Care Products Market was valued at USD 231.28 million in 2024 and is projected to reach USD 292.27 million by 2033, with an expected CAGR of 3.40% during the forecast period. The Korean Skin Care Products Market is an expansive range of cosmetic products developed to improve or preserve the appearance of the skin. The market involves different products such as cleansers, moisturizers, sunscreens, serums, and exfoliators known for their good ingredients and novel formulation. It is often described by its gentleness and natural ingredients, advanced formulations, and multi-step routines, making Korean skin care popular worldwide. The key technologies involved in this market are the use of fermented ingredients, innovative delivery systems for active ingredients, and advancements in dermatological research. These products have significantly impacted global beauty standards, and Korean beauty (K-beauty) has led the way in the skincare world. The main advantages of Korean skin care products are improved hydration, brightness, and anti-aging, while their highly personal approach especially cater to the specific needs of a client, such as acne or hyperpigmentation. One big driver for this market is the increase in consumer interest in self-care and personal wellness, which mainly comes from younger generations looking to find effective, high-quality skin care routines. With innovation and consumer demand for quality, the Korean skin care products market continues to expand, affecting the global cosmetics industry. Recent developments include: In July 2022, Saturday Skin has teamed with Nykaa to increase its visibility in the Indian market. Saturday Skin will provide a variety of skincare products through the Nykaa website and mobile app as part of this agreement., In November 2022, L'Oréal announced the debut of C-Beauty, K-Beauty, and J-Beauty consumers in partnership with Shihyo, a Korean brand. The brand's product line contains 24 herbal ingredients steeped in fermented rice and other creative Asian procedures.. Notable trends are: Popularity of Products Inspired by Unique Ingredient Formulas and Digital Marketing Strategies to Drive Market Growth.

In 2022, the revenue of the Korean beauty products market in India reached approximately *** million U.S. dollars. The revenue of K-Beauty products market was forecasted to have grown to over *** billion U.S. dollars by 2032.

The size of the South Korea Cosmetics Market was valued at USD XX Million in 2023 and is projected to reach USD XXX Million by 2032, with an expected CAGR of 5.22% during the forecast period. Cosmetics are products applied to the body, especially the face, to enhance or alter appearance. They include a wide range of items such as makeup (lipstick, mascara, foundation), skincare products (moisturizers, cleansers), and hair care products (shampoos, conditioners). Cosmetics can be derived from natural sources or synthetically created. Their primary purposes are to beautify, cleanse, and protect the skin. For example, foundation evens out skin tone, while mascara enhances eyelashes. Skincare cosmetics like moisturizers help maintain skin hydration and health. Additionally, cosmetics can conceal blemishes and highlight features, contributing to personal grooming and confidence. Recent developments include: January 2022: The L'Oréal Group introduced Colorsonic and Copyright, two cutting-edge innovations in beauty technology for customers and hairstylists. Both are portable, light devices with color applications. Colorsonic is for consumer use and Copyright for hair salons., September 2022: Amorepacific announced the acquisition of a luxury clean beauty brand Tata Harper, a pioneer in natural luxury skin care. By acquiring the brand, Amorepacific will expand its products in the Americas and Europe., May 2021: Amorepacific launched a customized bath bomb service called 'Bathbot'. Customers can choose 14 types of bath bombs with different flavors and fragrances. The service will be available in Amore stores at various locations in Korea.. Key drivers for this market are: Aggressive Marketing and Strategic Investments by Key Players, Growing Prevalence of Smokeless Tobacco Supported By Growth in Production of Tobacco. Potential restraints include: Stringent Government Regulations Leading to Ban on Smokeless Tobacco. Notable trends are: Growing Demand for Halal Cosmetics.

In 2022, the market revenue of Korean beauty, short K-beauty, products worldwide amounted to approximately **** billion U.S. dollars. It was expected to grow further, reaching over ** billion dollars in 2028 and close to ** billion dollars in 2032.

The South Korean cosmetics market rose markedly to $2.9B in 2024, with an increase of 5.3% against the previous year. The market value increased at an average annual rate of +2.8% over the period from 2012 to 2024; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when the market value increased by 9.9%. Cosmetics consumption peaked at $2.9B in 2022; afterwards, it flattened through to 2024.

The size of the South Korea Hair Care Industry market was valued at USD XX Million in 2023 and is projected to reach USD XXX Million by 2032, with an expected CAGR of 3.33% during the forecast period. Hair care encompasses the practices and products used to maintain the cleanliness, health, and appearance of hair. This includes regular washing, conditioning, and treatments to address specific hair needs such as dryness, damage, or dandruff. Hair care routines vary based on hair type, texture, and individual preferences. Common products include shampoos, conditioners, hair oils, and styling products like gels and sprays. Proper hair care also involves protecting hair from environmental damage, such as UV rays and pollution, and minimizing the use of heat styling tools that can cause breakage. Regular trims help prevent split ends and maintain hair shape. Recent developments include: In September 2022, Duopharma Biotech Bhd, via wholly-owned Duopharma Consumer Healthcare Sdn Bhd, signed a product distribution agreement with South Korea-based stem cell technology company SCM Lifescience Inc to distribute a range of anti-hair loss products in Malaysia., In June 2022, South Korean cosmetic titans Amorepacific and LG Household & Healthcare (LG H&H) both launched shampoos that can conceal grey hairs to great success, signaling a huge demand for anti-aging hair care products., In May 2022, South Korean firm CJ OnStyle launched a new personalized beauty brand with a bespoke shampoo it developed in collaboration with K-beauty ODM giant Cosmax.. Key drivers for this market are: Aggressive Marketing and Strategic Investments by Key Players, Growing Prevalence of Smokeless Tobacco Supported By Growth in Production of Tobacco. Potential restraints include: Stringent Government Regulations Leading to Ban on Smokeless Tobacco. Notable trends are: Rising Incidence Of Hair-Related Problems.

Snapshot img

Face Make-Up Market Size 2024-2028

The face make-up market size is forecast to increase by USD 16.36 billion at a CAGR of 5.41% between 2023 and 2028.

The market is experiencing significant growth, driven by the increasing demand for BB and CC creams. These multifunctional products offer benefits such as skin care and sun protection, making them popular choices among consumers. Another trend influencing the market is the growing prominence of social media influencers. They are driving the demand for innovative and high-performance make-up products, leading to an increase in sales. Consumers increasingly prefer foundation with skin-friendly ingredients and minimal preservatives and fragrances. However, there are challenges facing the market, including the risk of exposure to toxic chemicals in make-up products. Consumers are becoming more aware of the potential health risks and are demanding safer alternatives. As a result, companies are focusing on developing natural and organic make-up lines to cater to this demand. Overall, the market is expected to continue its growth trajectory, driven by these trends and challenges.

What will be the Size of the Face Make-Up Market During the Forecast Period?

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The face makeup market in the United States continues to experience strong growth, driven by increasing beauty consciousness and the desire for aesthetic appeal. Social media platforms have significantly influenced this trend, with beauty influencers showcasing innovative formulations and techniques to enhance facial features. cosmetic products such as foundation, concealer, blush, and more, cater to various skin conditions and skin tones, allowing individuals to conceal flaws and enhance their physical appearance.
Moreover, the demand for organic and natural cosmetics, as well as halal certified products, reflects consumers' growing preference for healthier and ethically sourced options. The working women population, in particular, drives the online sales channels for affordable facial care solutions. Overall, the face makeup market offers a wide range of cosmetic and skin care products to meet diverse consumer needs and preferences.

How is this Face Make-Up Industry segmented and which is the largest segment?

The face make-up industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

Product

  Foundation
  Face powder
  Concealer
  Others


Distribution Channel

  Offline
  Online


Geography

  APAC

    China
    Japan
    South Korea


  North America

    US


  Europe

    UK


  South America



  Middle East and Africa

By Product Insights

The foundation segment is estimated to witness significant growth during the forecast period.

The market encompasses a range of products including foundation, concealer, blush, bronzer, highlighter, setting powders, and complexion solutions. These cosmetics cater to various skin concerns, such as under-eye circles, dark spots, pores, and blemishes. Foundation, available in forms like cream, liquid, mousse, and powder, creates a uniform complexion and enhances the application of subsequent make-up. The popularity of BB and CC creams, which offer multifunctional benefits and streamline skincare routines, fuels market expansion. The trend toward highlighting and contouring further boosts demand for face make-up products, particularly in developed regions.

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The foundation segment was valued at USD 31.57 billion in 2018 and showed a gradual increase during the forecast period.

Regional Analysis

North America is estimated to contribute 35% to the growth of the global market during the forecast period.

Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

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The market in the Asia Pacific (APAC) region is witnessing significant growth due to the increasing number of working women and the rising middle class population. These demographics are increasingly focusing on personal grooming and beauty consciousness, leading to an increase in demand for face make-up products. Major markets in this region include China, South Korea, India, and Japan. International players such as L'Oreal SA, Procter & Gamble Co., Estee Lauder Companies Inc., and Kao Corp. dominate the market, offering a wide range of products. These companies primarily sell their products through mass-market channels like hypermarkets, supermarkets, and e-retail platforms.

Market Dynamics

Our face make-up market researchers analyzed the data with 2023 as the base

The size of the Snail Beauty Products Market was valued at USD 595.7 million in 2023 and is projected to reach USD 1088.96 million by 2032, with an expected CAGR of 9.0 % during the forecast period. Snail beauty products have now been in the skincare industry; their popularity has been tremendous particularly in East Asia, with further growth globally. Snail beauty products generally contain snail mucin-a natural secretion in snails, which is full of nutrients like hyaluronic acid, glycoproteins, enzymes, and peptides. Snail mucin has been thought to contain many benefits in skin care such as regeneration, improvement in hydration, removal of fine lines, and removal of wrinkles. It is commonly found in serums, moisturizers, masks, and creams. Snail mucin has been a part of beauty products since ancient times but in modern times, this has surfaced due to the fact it nourishes and repairs skin. Acne scars and hyperpigmentation are some popular reasons and overall skin texture is well-treated with snail-based beauty products. With growing interest in natural and innovative skincare ingredients, snail mucin has become a vital ingredient in many skincare routines, providing both anti-aging and healing properties. Recent developments include: In September 2022, Missha, a South Korean cosmetics brand, partnered with Saks Fifth Avenue, a department store in the U.S. This collaboration marks a significant milestone as it represents the first major North American department store to offer Missha's skincare collection. The partnership between Missha and Saks is a substantial advancement in Saks' strategy for expansion across North America. .

In 2022, the revenue of the Korean beauty products market in Australia and New Zealand reached approximately ***** million U.S. dollars. By 2032, Australia and New Zealand's K-Beauty products market revenue was forecasted to have grown to over *** million U.S. dollars.

Cosmetic exports from South Korea have greatly increased recently and amounted to around ***** trillion South Korean won, about **** billion U.S. dollars according to the source, as of 2023. Thanks to the global popularity of K-beauty, both the production and exports of South Korean cosmetics have grown. What is K-beauty? Behind K-beauty’s popularity, there lies a great interest in the external beauty of Koreans. This attitude toward beauty is contributing to creating a unique and sophisticated trend in the Korean cosmetics industry. Korean skincare routines are receiving great attention from beauty influencers around the world. Also, K-beauty products such as mask packs, cushion foundation, and LED masks are gaining popularity. K-beauty popularity in the world According to a survey on the global popularity of South Korean beauty products,a notable share of respondents over the world answered that K-beauty was very well known in their country. In particular, South Korean beauty products were most popular among respondents from Vietnam. Many respondents in other countries such as the United Arab Emirates, Mexico, Malaysia, and more also stated that K-beauty is very popular in their countries. According to the source, the positive effect and good quality of the products were the main positive aspects affecting their purchase decisions.

Snapshot img

Mass Beauty Care Market Size 2024-2028

The mass beauty care market size is forecast to increase by USD 112.7 billion, at a CAGR of 4.5% between 2023 and 2028.

The market is experiencing significant growth, driven by modern-day lifestyle changes and the increasing prevalence of facial skin issues. Consumers are seeking effective solutions to address these concerns, leading to a surge in demand for advanced skincare products. A key trend in this market is the introduction of multifunctional products, which cater to multiple skin concerns and offer convenience to consumers. However, this market also faces challenges, including the easy availability of counterfeit products. These counterfeits not only undermine brand reputation but also pose a risk to consumer safety.
Companies must prioritize authenticity and transparency to build trust with their customers and differentiate themselves from competitors. To capitalize on market opportunities and navigate challenges effectively, businesses should focus on product innovation, robust supply chain management, and effective brand protection strategies.

What will be the Size of the Mass Beauty Care Market during the forecast period?

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The market continues to evolve, driven by advancements in research and development across various sectors. One notable area of focus is the scalp microbiome balance, with clinical trial methodologies exploring its impact on hair health. Natural cosmetic ingredients, organically certified, are gaining popularity, as consumers seek safer alternatives. Collagen synthesis stimulation through dermatological testing methods is another trend, with an anticipated industry growth of 5% annually. An antioxidant delivery system, for instance, enhances the efficacy of skincare products. Exfoliation techniques, such as chemical peels or microdermabrasion, offer improved skin hydration assessment, while transdermal drug delivery systems ensure active ingredients penetrate deeper.

Sebum production regulation and UVA/UVB protection efficacy are essential components of modern formulations. Skin brightening agents, personalized skincare regimens, and cosmetic ingredient efficacy assessments are also critical. Hyaluronic acid retention, ceramide replenishment systems, and hair follicle stimulation contribute to healthier hair. Skin elasticity measurement, dermatological formulation development, and consumer product safety are ongoing concerns. Acne treatment protocols, cruelty-free cosmetics, and skin microbiome analysis are increasingly important. Product formulation stability, anti-aging peptide technology, and ingredient sourcing traceability are also key considerations. Melanin synthesis inhibition, hair shaft strengthening, and wrinkle reduction methods continue to be in demand.

How is this Mass Beauty Care Industry segmented?

The mass beauty care industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

Distribution Channel

  Offline
  Online


Geography

  North America

    US


  APAC

    China
    India
    Japan
    South Korea


  Rest of World (ROW)

By Distribution Channel Insights

The offline segment is estimated to witness significant growth during the forecast period.

The market is experiencing significant growth, with a projected increase of 5% annually. This expansion is driven by various trends and advancements in the industry. The balance of the scalp microbiome is gaining attention, leading to the development of products that promote this harmony. Clinical trial methodology ensures the efficacy of natural cosmetic ingredients, which are increasingly preferred due to organic certification standards. Collagen synthesis stimulation and dermatological testing methods are crucial for creating effective skincare solutions. An antioxidant delivery system is essential for protecting the skin from environmental stressors. Exfoliation techniques, skin hydration assessment, and transdermal drug delivery are improving product performance.

Sebum production regulation and UVA/UVB protection efficacy are key concerns for consumers. Skin brightening agents, personalized skincare regimens, and cosmetic ingredient efficacy are essential for catering to diverse consumer needs. Hyaluronic acid retention, hair follicle stimulation, and ceramide replenishment systems are essential for maintaining healthy hair. The hair growth cycle, skin elasticity measurement, and dermatological formulation development are critical aspects of the industry. Consumer product safety, acne treatment protocols, cruelty-free cosmetics, and skin microbiome analysis are

The South Korea travel retail market, valued at $12.6 billion in 2025, exhibits robust growth potential, projected to expand at a CAGR exceeding 5% from 2025 to 2033. This expansion is fueled by several key drivers. Firstly, the resurgence of international tourism post-pandemic significantly impacts the market's recovery and future growth. Secondly, the increasing disposable incomes of South Korean consumers and a growing preference for luxury goods are boosting spending within travel retail channels. Furthermore, innovative marketing strategies employed by major players, coupled with the strategic expansion of airport retail spaces and improved product offerings, contribute to the market's upward trajectory. The market is segmented by product type (beauty and personal care leading the way, followed by wines and spirits, tobacco, eatables, fashion accessories, and hard luxury goods) and distribution channel (airports dominating, with airlines and ferries holding significant but smaller shares). Competition among major players like Lotte Duty Free, The Shilla Duty Free, and Dufry is fierce, driving innovation and competitive pricing. Potential restraints include economic downturns, shifts in consumer preferences, and evolving government regulations concerning alcohol and tobacco sales. The forecast for the South Korea travel retail market indicates continued growth, driven by the ongoing recovery in international travel and the country's position as a key hub for Asian tourism. However, operators must navigate potential challenges like fluctuating exchange rates, global economic uncertainty, and the increasing demand for sustainable and ethically sourced products. Strategic partnerships, personalized customer experiences, and a strong digital presence will be crucial for success. Growth in specific segments like beauty and personal care, driven by the popularity of K-beauty products, will likely outpace other categories. Meanwhile, the expansion of duty-free offerings beyond traditional airports to other travel hubs such as high-speed rail stations and cruise terminals presents promising new avenues for market expansion. Effective supply chain management and targeted marketing campaigns focused on key demographics will be vital for capitalizing on emerging opportunities. Recent developments include: July 2022: Dufry AG, the world’s largest duty-free operator, acquired Autogrill SpA, the motorway and airport catering company, from the Benetton Family., April 2022: South Korea Lotte Duty Free has partnered with Korean Seven, the operator of the 7-Eleven convenience store chain, to expand local market sales of so-called domestic customs-cleared duty-free goods.. Key drivers for this market are: Beauty Products, Jewellery, Fashion and Accessories are Faster Developing Segments in the Market. Potential restraints include: Beauty Products, Jewellery, Fashion and Accessories are Faster Developing Segments in the Market. Notable trends are: Growing Disposable Income is Driving the Market.

The size of the Beauty Personal Care Packaging Market was valued at USD 26.62 Million in 2023 and is projected to reach USD 35.20 Million by 2032, with an expected CAGR of 4.07% during the forecast period. The beauty and personal care packaging market is expanding due to increased consumer demand for sustainable, functional, and aesthetically appealing packaging solutions. As consumers continue to grow their concern over plastic waste and its impact on the environment, the industry is looking towards eco-friendly materials such as recyclable plastics, glass, and biodegradable options. Innovative designs such as airless pumps, refillable containers, and sleek minimalist designs are in great demand. Demand for premium beauty and skincare products drives growth, and companies want to present products in an appealing manner. Raw material price volatility and packaging waste are some of the challenges; however, sustainability initiatives are continuing to drive growth. Recent developments include: August 2022: The Body Shop's growth, the debut of J-Beauty, and a Korean packaging facility Toly, a manufacturer of packaging for cosmetics, has expanded its production capacity in Asia by constructing a new facility in South Korea. The production building houses the Aoki stretch injection blow molding equipment used by the Malta-based business. PET (polyethylene terephthalate) bottles and jars are produced using machinery for the beauty sector., July 2022: The first of OnTop Cosmetics' four main facial cream products with packaging constructed of the copolyester with the patented name Eastman Cristal Renew has been released: Renewal Oil Cream. OnTop collaborated with WWP Beauty to create the primary packaging for Renewal Oil Cream version 2.0, which was named an "Innovative Product" by Mintel in January 2022., April 2022: Olive Natural Skincare, a firm that offers natural beauty products, will soon launch new packaging that is almost entirely recyclable. The company recently declared that the independent New Zealand organization Ekos has awarded its business operations the zero-carbon certification. The process's CO2 emissions have been measured and completely offset, according to the Ekos Zero Carbon certification.. Key drivers for this market are: GROWTH OF THE PACKAGED FOOD INDUSTRY, INCREASING USE OF ACTIVE AND INTELLIGENT PACKAGING IN CONVENIENCE STORES. Potential restraints include: GOVERNMENT NORMS AGAINST PLASTIC PACKAGING. Notable trends are: The growth of the cosmetics product industry is driving the market growth.

The size of the South Korea Beauty Fridges Market was valued at USD XX Million in 2023 and is projected to reach USD XXX Million by 2032, with an expected CAGR of > 5.00% during the forecast period. South Korea is better known for its high-tech beauty manufacturing and proper skincare routines. Actually, the popularity of beauty fridges in the country is on the rise. These refrigerators hold the potency and freshness of skincare products containing finicky ingredients such as retinol, vitamin C, and hyaluronic acid. It functions through maintaining constant cool temperatures, thereby averting the degradation of active ingredients due to heat and light exposure. This helps skincare products achieve the maximum effectiveness and serve the purpose. A number of factors are propelling the beauty fridges trend in South Korea. For instance, multi-step skincare routines are put under intense focus in South Korea. As such, a number of different products, like serums and creams, need to be used, and most of them are put in bathrooms or vanity spaces, which can change temperature. Also, beauty fridges offer a protective environment against all the external factors of nature. In addition, K-beauty has gained immense popularity lately. Most K-beauty products have sophisticated ingredients hence a huge demand arises for such devices that will help to maintain their quality. Finally, beauty fridges have also become luxuries and a way for one to achieve self-love, especially for consumers who wish to upgrade their skincare regimen. Recent developments include: February 2023: AstroAI Beauty Fridge unveiled an upgraded skincare refrigerator boasting a suite of new features. This innovative product now comes equipped with a built-in LED light for enhanced visibility, a temperature display for precise control, a silent mode to ensure peaceful operation, and convenient organization and storage capabilities., January 2022: Crownful introduced a cutting-edge beauty fridge designed to maintain cooling in two separate compartments. This eco-friendly appliance is entirely freon-free and incorporates advanced safety technology, earning ETL certification for exceptional durability and energy efficiency. Additionally, it offers the flexibility of plugs suitable for both standard home outlets and 12V car chargers.. Key drivers for this market are: Increasing Consumer Awareness about Product Preservation. Potential restraints include: Higher Electricity Consumption. Notable trends are: Increasing Trend of Cryotherapy Based Products.

The market is projected to expand from USD 19.7 billion in 2025 to USD 44.5 billion by 2035, reflecting a CAGR of 9.8% over the forecast period.

Metric	Value
Industry Size (2025E)	USD 19.7 billion
Industry Value (2035F)	USD 44.5 billion
CAGR (2025 to 2035)	9.8%

Country-Wise Analysis

Countries	CAGR (2025 to 2035)
USA	7.2%
UK	6.9%
France	6.8%
Germany	7.0%
Italy	6.7%
South Korea	7.5%
Japan	7.1%
China	7.8%
Australia	6.6%
New Zealand	6.5%

Competitive Outlook

Company Name	Estimated Market Share (%)
Chanel (Boy de Chanel)	18-22%
L'Oréal (Men Expert)	14-18%
Tom Ford Beauty	10-14%
Fenty Beauty (Fenty Skin)	8-12%
Other Companies (combined)	35-45%

In 2022, the market revenue of Korean beauty skin care products worldwide amounted to approximately *** billion U.S. dollars. It was expected to grow further, reaching over ** billion dollars in 2032.

Snapshot img

Cosmetic Serum Market Size 2024-2028

The cosmetic serum market size is forecast to increase by USD 1.26 billion, at a CAGR of 3.84% between 2023 and 2028.

The market is witnessing significant growth, driven by the increasing demand for male beauty products and the preference for organic and natural offerings. This trend reflects the evolving consumer preferences towards personalized skincare products and the rising awareness of health and wellness. However, the market faces challenges, including the availability of counterfeit products. These counterfeits not only undermine brand reputation but also pose a risk to consumer safety.
To capitalize on market opportunities and navigate challenges effectively, companies must focus on product innovation, ensuring authenticity, and building strong brand trust. By catering to the increasing demand for organic and natural products and addressing the issue of counterfeit goods, market players can differentiate themselves and secure a competitive edge.

What will be the Size of the Cosmetic Serum Market during the forecast period?

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The market continues to evolve, driven by consumer demand for effective and innovative skincare solutions. Skin hydration serums, antioxidant serums, and retinol serums remain popular choices, with ongoing research focusing on enhancing their efficacy through dermatological testing and ingredient sourcing. Nanoemulsion serums and transdermal delivery systems are gaining traction, offering improved penetration depth and nicotinamide serum delivery. Cost optimization is a crucial aspect of the market, with manufacturers exploring various strategies, such as supply chain management and manufacturing process refinements. Marketing strategies are also evolving, with brands focusing on consumer perception studies and clinical trial results to differentiate their offerings.

Industry growth is expected to remain robust, with a recent study projecting a 7% annual increase in sales. For instance, a leading brand reported a 15% sales increase following the launch of a hyaluronic acid serum, which boosts skin elasticity and improves the skin barrier. Quality control processes, regulatory compliance, and serum stability testing are essential components of the market, ensuring consumer safety and product efficacy. Active ingredient encapsulation and peptide serum synthesis are advanced technologies that contribute to better serum performance and longer product shelf life. Serum formulations are becoming increasingly complex, with liposomal serum technology and serum absorption rate optimization playing key roles.

The market is also witnessing the emergence of brightening serums and collagen-boosting serums, addressing various consumer needs and preferences. Ingredient sourcing and manufacturing processes are undergoing significant changes, with a focus on sustainability and ethical practices. Packaging materials are also evolving to ensure product stability and consumer convenience. Overall, the market is a dynamic and evolving landscape, driven by consumer preferences, technological advancements, and regulatory requirements.

How is this Cosmetic Serum Industry segmented?

The cosmetic serum industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD million' for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

Distribution Channel

  Offline
  Online


Product

  Hair care serum
  Skin and sun care serum


Geography

  North America

    US


  APAC

    China
    India
    Japan
    South Korea


  Rest of World (ROW)

By Distribution Channel Insights

The offline segment is estimated to witness significant growth during the forecast period.

The market is experiencing notable growth, driven by consumer demand for advanced skincare solutions. Skin hydration serums, antioxidant serums, and retinol formulations are popular choices, undergoing rigorous dermatological testing to ensure efficacy. Ingredient sourcing from reputable suppliers and the adoption of nanoemulsion technology for enhanced penetration are key trends. Marketing strategies focus on consumer perception studies and clinical trial results, while regulatory compliance is a priority. For instance, a study revealed a 15% increase in sales of anti-aging serums containing active ingredient encapsulation technology. The market is expected to grow by over 10% annually, with a focus on product shelf life, serum stability testing, and transdermal delivery systems.

Manufacturing processes prioritize quality control, and packaging materials are chosen for their ability to maintain serum viscosity and protect against contamination. Supply chain mana

• The global industry was valued at US$ 1.4 Bn in 2022
• It is estimated to grow at a CAGR of 4.9% from 2023 to 2031 and reach US$ 2.1 Bn by the end of 2031

Market Introduction

Attribute	Detail
Market Drivers	Growth in Demand for Anti-aging Ingredients in Cosmetics Growth in E-commerce Sector

Regional Outlook

Attribute	Detail
Leading Region	Europe

Cosmetic Shea Butter Market Snapshot

Attribute	Detail
Market Value in 2022 (Base Year)	US$ 1.4 Bn
Market Forecast Value in 2031	US$ 2.1 Bn
Growth Rate (CAGR)	4.9%
Forecast Period	2023-2031
Historical Data Available for	2017-2021
Quantitative Units	US$ Bn for Value and Tons for Volume
Market Analysis	Qualitative Analysis includes drivers, restraints, opportunities, key trends, key market indicators, Porter’s Five Forces analysis, value chain analysis, and SWOT analysis. Furthermore, at the regional level, the qualitative analysis includes key trends, price trends, and key supplier analysis.
Competition Landscape	Prominent Players - Competition Dashboard and Revenue Share Analysis, 2022 Company Profiles (Details - Company Overview, Sales Area/Geographical Presence, Revenue, Strategy & Business Overview)
Format	Electronic (PDF) + Excel
Market Segmentation	By Nature Organic Conventional By Grade Grade A (Unrefined) Grade B (Refined) Grade C (Highly Refined) By End-use Lotions & Creams Lip Balms & Lipsticks Sun Care Products Soaps & Toiletries Cleansers Shampoos & Conditioners Others
Regions Covered	North America Latin America Europe Asia Pacific Middle East & Africa
Countries Covered	U.S. Canada Mexico Brazil Argentina Germany U.K. France Italy Spain BENELUX Nordic Russia Poland Hungary Balkan & Baltics India Thailand Indonesia Malaysia China S. Korea Australia New Zealand South Africa KSA Turkiye South Africa
Companies Profiled	Cargill, Incorporated Clariant AG AAK AB Olvea Group Archer Daniels Midland Company Bunge Limited BASF SE Croda International Plc Ghana Nuts Company Ltd Agrobotanicals, LLC Sophim S.A. AOS Products Private Limited The Savannah Fruits Company Ojoba Collective The HallStar Company
Customization Scope	Available upon request
Pricing	Available upon request