In 2023, the market size of the cosmetics industry in South Korea amounted to more than five 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 South Korea cosmetics market was valued at USD 17.45 Billion in 2024. The growing demand for multifunctional skincare products, like serums doubling as primers, is encouraging brands to innovate hybrid formulations that align with the country’s fast-paced beauty routines and minimalistic trends. As a result, the market is expected to grow at a CAGR of 5.40% during the forecast period of 2025-2034 to reach a value of USD 29.53 Billion by 2034.

The market has continued to be a dynamic hub for innovation, R&D activities, and premium skin science. Fuelled by government-supported exports and a digital-first retail ecosystem, the sector has witnessed a surge in functional and dermatologically advanced formulations. According to industry reports, functional cosmetics accounted for nearly 37.5% of the total production value. In March 2023, Korean government announced plans to develop technologies related to bespoke cosmetics, personalised skin diagnosis programmes using IoT and big data to nurture Korean bio-health industry.

Homegrown players are merging skincare with biotechnology and AI diagnostics, reshaping the South Korea cosmetics market dynamics. Amorepacific’s “Mind-linked Bathbot” technology, for instance, recommends fragrances and colours based on consumers' brainwaves, while companies like the Monodist have introduced fermented ingredients derived from traditional hanbang medicine into mass-market skincare.

Moreover, a renewed focus on minimalist routines and ingredient transparency is shaping product preferences among consumers, boosting the market value. Unlike traditional markets, where branding dominates, South Korean buyers lean towards performance-based claims and scientific legitimacy. Online-first brands such as Axis-Y and Mixsoon are thriving through interactive community testing platforms and co-development with customers, enabling rapid prototyping and market feedback loops.

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.

The South Korea Beauty and Personal Care Market Report is Segmented by Product Type (Personal Care and Cosmetics/Makeup Products), Category (Premium and Mass), Ingredient Type (Natural and Organic, and Conventional/Synthetic), and Distribution Channel (Specialty Stores, Supermarkets/Hypermarkets, Online Retail, and Other Distribution Channels). The Market Forecasts are Provided in Terms of Value (USD).

12038 Global import shipment records of Cosmetic with prices, volume & current Buyer's suppliers relationships based on actual Global export trade database.

In recent years, beauty product manufacturers have faced significant losses due to unfavorable economic conditions, including high inflation and increasing economic uncertainty. Many cosmetics and beauty products are considered discretionary, causing sales to weaken when disposable income drops. Heightened inflationary pressures in recent years pushed consumers to postpone purchases to downgrade to more affordable products, contributing to revenue losses between 2020 and 2022. Rising prices and heightened consumer uncertainty have led to higher selling prices and smaller basket sizes, protecting producers from sharper revenue losses. Since 2020, revenue has weakened by an estimated CAGR of 3.9% to reach $39.3 billion in 2025, including a 2.7% drop that year alone. During such times, consumers tend to opt for more affordable options, leading to a surge in imports to meet domestic demand. Imported beauty products have gained a larger share of the domestic market, especially those from countries like France, Italy and South Korea, which are perceived to offer higher quality. The growing demand for innovative, inclusive, sustainable and technical products—especially anti-aging and luxury items—creates growth opportunities for domestic manufacturers. Also, companies like Glossier, which leverages social media marketing and the heightened demand for US-made products, have successfully reached international consumers, driving an increase in exports. The ongoing economic recovery is expected to benefit domestic beauty product manufacturers. As consumer confidence and disposable income climb, spending on discretionary items like beauty products will likely increase, supporting manufacturers' performance. The forecast decline in the world price of zinc, a key material for manufacturers, will support producers' profit gains. Similarly, the expected depreciation of the US dollar will enhance the performance of domestic producers both domestically and internationally. However, uncertain trade conditions over the coming years will prevent downstream wholesalers and retailers from planning for future demand, preventing sharper gains. These factors are set to cause revenue to accelerate at an annualized 1.3% to $41.9 billion through the end of 2030.

Impacted by the COVID-19 pandemic, sales of lipstick and foundation decreased by ** percent and ** percent each as of March 2020 compared to the same period in the previous year. While color makeup products saw a big sales decrease, overall sales of skincare products experienced a growth. Especially, face moisturizing products such as essence, serum, and oil were purchased *** percent more than a year ago.

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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

Comprehensive dataset containing 8 verified Cosmetic products manufacturer businesses in Gyeongsangbuk-do, South Korea with complete contact information, ratings, reviews, and location data.

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Childrens Cosmetics Market Size 2024-2028

The childrens cosmetics market size is forecast to increase by USD 775 million, at a CAGR of 6.33% between 2023 and 2028.

The Children's Cosmetics Market is experiencing significant growth, driven by the increasing per capita income and the rise of online retailing. Parents are increasingly investing in high-quality cosmetics for their children, reflecting the growing importance of self-care and personal grooming in modern society. This trend is further amplified by the convenience and accessibility offered by online retailers, enabling customers to easily purchase a wide range of children's cosmetics from the comfort of their homes. However, the market also faces challenges, including the presence of counterfeit cosmetics products. The proliferation of fake and low-quality cosmetics poses a significant threat to both consumers and legitimate businesses.
Companies must prioritize product safety and quality to differentiate themselves and build trust with their customers. Additionally, they must invest in robust anti-counterfeit measures to protect their brand reputation and ensure consumer safety. By focusing on product innovation, customer experience, and effective brand protection strategies, companies can capitalize on the market's growth potential and navigate the challenges effectively.

What will be the Size of the Childrens Cosmetics Market during the forecast period?

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The children's cosmetics market continues to evolve, with dynamic market dynamics shaping its various sectors. Ethical sourcing and brand building are paramount, as companies strive to cater to diverse age demographics. Wholesale distribution channels, including both direct sales and retail outlets, play a significant role in reaching consumers. Product development in this market is ongoing, with an emphasis on allergen information, makeup brushes made from natural fibers, and vegan ingredients. Shelf life and sensitive skin products are also key considerations, as is the use of synthetic or organic ingredients in formulations. Personal care items, such as eye creams, body wash, and lip balm, are popular choices.

Natural extracts and essential oils are increasingly preferred, while fragrance and color cosmetics, including eye shadow, lip gloss, and nail polish, remain staples. Competitor analysis is crucial, as companies seek to differentiate themselves through innovative packaging design, cruelty-free products, and rigorous quality control measures. Safety testing and product labeling are essential for consumer trust, as is adherence to child safety regulations. Makeup remover, cotton pads, and bath bombs are among the various product offerings in this market. Haircare products, such as shampoo and conditioner, are also gaining traction. The market's continuous unfolding is driven by evolving consumer preferences and the ongoing refinement of manufacturing processes.

How is this Childrens Cosmetics Industry segmented?

The childrens cosmetics 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.

Type

  Face products
  Eye products
  Lip products
  Others


Distribution Channel

  Online Retail
  Offline Retail
  Specialty Stores


Age Group

  3-8 Years
  9-14 Years


Formulation

  Organic
  Synthetic


Geography

  North America

    US
    Canada


  Europe

    France
    Germany
    UK


  Middle East and Africa

    UAE


  APAC

    Australia
    China
    India
    Japan
    South Korea


  South America

    Brazil


  Rest of World (ROW)

By Type Insights

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

The children's cosmetics market experiences significant growth due to the increasing demand for face products among younger age demographics. Parents prioritize children's health and well-being, leading to an uptick in sales of gentle, allergen-free formulations. Moisturizers remain popular choices, with their ability to prevent dryness and protect sensitive skin. However, the market also witnesses a rising trend in the demand for color cosmetics, such as blushes and foundations, driven by children's exposure to social media platforms. These platforms encourage children to experiment with makeup and share content, fueling the desire for various face products. The supply chain for children's cosmetics involves both direct sales and retail channels.

Wholesale distribution plays a crucial role in reaching a broader audience, while online sales continue to gain traction. Ethical sourcing and brand building ar

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Color Cosmetics Market Size 2025-2029

The color cosmetics market size is valued to increase by USD 25.64 billion, at a CAGR of 5.8% from 2024 to 2029. Growing awareness for beauty and personal care will drive the color cosmetics market.

Major Market Trends & Insights

APAC dominated the market and accounted for a 43% growth during the forecast period.
By Product - Face segment was valued at USD 27.50 billion in 2023
By Price Range - Mass segment accounted for the largest market revenue share in 2023

Market Size & Forecast

Market Opportunities: USD 56.32 billion
Market Future Opportunities: USD 25.64 billion
CAGR from 2024 to 2029 : 5.8%

Market Summary

The market experiences continuous expansion, fueled by the increasing consumer awareness towards personal appearance and the desire for self-expression. A significant trend in this sector is the rising demand for natural and organic products, as consumers become more health-conscious and seek alternatives to cosmetics containing potentially harmful chemicals. According to recent market data, the value of the organic cosmetics segment is projected to reach USD22.3 billion by 2027, growing at a steady pace. Despite this progress, challenges persist in the market. The presence of toxic chemicals in some color cosmetics remains a concern, with potential health risks associated with long-term use.
Regulatory bodies worldwide are implementing stricter regulations to ensure the safety and transparency of cosmetic ingredients. This evolving landscape requires cosmetics companies to adapt and innovate, focusing on developing high-quality, safe, and sustainable products to meet the growing demand for natural and organic offerings. In conclusion, the market is undergoing significant transformation, driven by consumer preferences for natural and organic products and increasing regulatory scrutiny. Companies must stay informed of these trends and adapt to meet the evolving needs and expectations of their customers. The market's future direction lies in the development of innovative, safe, and sustainable color cosmetic solutions that cater to the growing demand for natural and organic products.

What will be the Size of the Color Cosmetics Market during the forecast period?

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How is the Color Cosmetics Market Segmented ?

The color cosmetics industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Product

  Face
  Eye
  Lip
  Nail
  Others


Price Range

  Mass
  Premium
  Luxury


Distribution Channel

  Offline
  Online


Geography

  North America

    US
    Canada


  Europe

    France
    Germany
    Italy
    UK


  APAC

    China
    India
    Japan
    South Korea


  Rest of World (ROW)

By Product Insights

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

The market continues to evolve, with ongoing advancements in manufacturing processes, pigment dispersion, and formulation development. For instance, the pigment particle size plays a crucial role in the quality of cosmetics, ensuring optimal color rendering index and skin compatibility. Quality control procedures, including sensory evaluation, rheological properties analysis, and texture analysis, are essential for maintaining product consistency and consumer preference. Moreover, product safety testing, allergy assessment, and regulatory compliance are critical components of the industry, with stringent regulations in place for irritancy testing, microbial contamination, and cosmetics preservation. Consumers increasingly demand long-lasting makeup, water-resistant cosmetics, and effective UV protection, leading to the development of innovative formulations, such as oil-free, SPF rating, and matte finishes.

One key statistic illustrates the market's growth: a recent study projects a 4.3% compound annual growth rate (CAGR) for The market between 2021 and 2026. This growth is driven by advancements in shade matching technology, color stability testing, emulsion stability, and consumer demand for customized, high-performance cosmetics. Packaging design, with its focus on sustainability and user-friendly features, plays a vital role in consumer choice. Packaging materials, such as glass, plastic, and metal, are selected based on their durability, recyclability, and compatibility with various cosmetic formulations. Overall, the market is a dynamic and evolving industry, driven by consumer preferences, technological advancements, and regulatory requirements.

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The Face segment was valued at USD 27.50 billion in 2019 and showed a gradual increase during the forecast period.

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Cosmetic Products Market Outlook

In 2023, the global cosmetic products market size was valued at approximately $532 billion, and it is anticipated to reach $836 billion by 2032, demonstrating a Compound Annual Growth Rate (CAGR) of 5.2% over the forecast period. This growth is driven by an increasing emphasis on self-care and beauty standards, alongside the rapid proliferation of social media platforms influencing consumer behavior and trends. As consumers become more aware and informed about the products they use, there is an ever-growing demand for cosmetics that cater to both aesthetic appeal and wellness, including organic and cruelty-free options.

A significant growth factor for the cosmetic products market is the increasing consumer awareness regarding personal grooming and beauty. This is driven by the rise of social media platforms such as Instagram, TikTok, and YouTube, where beauty influencers and makeup artists regularly showcase new products and techniques. These platforms have not only popularized certain beauty standards but have also democratized information about new product launches and trends, encouraging consumers to experiment with different cosmetic products. This trend is particularly noticeable among millennials and Gen Z, who are keen on exploring new skincare routines and makeup regimes, thus driving demand across a broad spectrum of cosmetic categories.

The burgeoning demand for natural and organic cosmetic products is another pivotal factor contributing to market growth. Consumers are increasingly opting for products that are free from harmful chemicals and are sustainably sourced. This trend is propelled by growing environmental consciousness and awareness of the potential health impacts of synthetic ingredients. Consequently, many cosmetic companies are pivoting towards the formulation of products that are eco-friendly, leveraging natural ingredients such as plant extracts, minerals, and essential oils. This shift is not only driven by consumer demand but also by stringent regulations imposed by governments around the world, which are aiming to reduce the environmental footprint of cosmetic production and consumption.

Technological advancements and innovations in product formulations are also propelling the growth of the cosmetic products market. Skincare products, in particular, are seeing a surge in innovations with the incorporation of advanced active ingredients that promise anti-aging, hydration, and skin-repair benefits. The use of biotechnology and nanotechnology in formulating cosmetics has led to the development of products that offer superior efficacy and skin compatibility. Furthermore, the trend of personalized skincare, which uses data-driven insights to tailor products to individual needs, is gaining momentum, attracting consumers who seek bespoke solutions to their skincare challenges.

The cosmetic and toiletry industry has seen a remarkable transformation over the years, evolving from basic beauty products to sophisticated formulations that cater to diverse consumer needs. This sector encompasses a wide range of products, including skincare, haircare, makeup, and personal hygiene items, each designed to enhance personal appearance and well-being. The industry's growth is fueled by continuous innovation and the introduction of novel ingredients that promise enhanced efficacy and safety. As consumers become more discerning about the products they use, the demand for high-quality, effective, and safe cosmetic and toiletry products continues to rise. This trend is further supported by the increasing availability of these products through various distribution channels, making them accessible to a broader audience.

Regionally, the Asia Pacific leads the cosmetic products market, supported by the burgeoning middle-class population, rising disposable incomes, and an increasing penchant for beauty and grooming products. Countries such as China, India, Japan, and South Korea are witnessing substantial growth due to cultural emphasis on skincare and beauty. Meanwhile, North America and Europe remain significant markets, driven by high consumer expenditure on premium and luxury cosmetic products. The Middle East & Africa and Latin America, although smaller markets, are experiencing a steady increase in demand, attributed to urbanization and increased Western influence on beauty standards.

Product Type Analysis

The cosmetic products market is segmented into various product types, including skincar

According to a survey among South Korean women, around **** percent of women who have bought beauty products online have bought beauty products by small and medium sized businesses before. The rate was the highest for women in their twenties, with around ********** of them answering to buy from SMEs.

This statistic shows distribution of cosmetic purchase channels among female consumers aged 30 to 39 in South Korea in 2016. In that year, **** percent of respondents purchased cosmetics on internet.

South Korean cosmetic startups are thriving in the U.S. market, expanding retail presence despite tariff challenges, with brands like Tirtir and dAlba leading the charge.

Russia Imports from South Korea of Essential oils, perfumes, cosmetics, toileteries was US$204.26 Million during 2021, according to the United Nations COMTRADE database on international trade. Russia Imports from South Korea of Essential oils, perfumes, cosmetics, toileteries - data, historical chart and statistics - was last updated on October of 2025.

Comprehensive dataset containing 486 verified Cosmetic products manufacturer businesses in South Korea with complete contact information, ratings, reviews, and location data.

Korea Consumer Price Index (CPI): Weight: Commodities: IP: Cosmetics: Makeup cosmetics data was reported at 0.500 Per 1000 in Jun 2018. This stayed constant from the previous number of 0.500 Per 1000 for May 2018. Korea Consumer Price Index (CPI): Weight: Commodities: IP: Cosmetics: Makeup cosmetics data is updated monthly, averaging 0.500 Per 1000 from Jan 2010 (Median) to Jun 2018, with 102 observations. The data reached an all-time high of 0.500 Per 1000 in Jun 2018 and a record low of 0.500 Per 1000 in Jun 2018. Korea Consumer Price Index (CPI): Weight: Commodities: IP: Cosmetics: Makeup cosmetics data remains active status in CEIC and is reported by Statistics Korea. The data is categorized under Global Database’s Korea – Table KR.I022: Consumer Price Index: Special Groups: 2015=100: Weights.

Korea Consumer Price Index (CPI): Commodities: IP: Cosmetics: Makeup cosmetics data was reported at 103.670 2015=100 in Jun 2018. This records an increase from the previous number of 103.500 2015=100 for May 2018. Korea Consumer Price Index (CPI): Commodities: IP: Cosmetics: Makeup cosmetics data is updated monthly, averaging 74.892 2015=100 from Jan 1990 (Median) to Jun 2018, with 342 observations. The data reached an all-time high of 103.670 2015=100 in Jun 2018 and a record low of 64.951 2015=100 in Jun 2006. Korea Consumer Price Index (CPI): Commodities: IP: Cosmetics: Makeup cosmetics data remains active status in CEIC and is reported by Statistics Korea. The data is categorized under Global Database’s Korea – Table KR.I021: Consumer Price Index: Special Groups: 2015=100.

Saudi Arabia Imports from South Korea of Essential oils, perfumes, cosmetics, toileteries was US$82.75 Million during 2024, according to the United Nations COMTRADE database on international trade. Saudi Arabia Imports from South Korea of Essential oils, perfumes, cosmetics, toileteries - data, historical chart and statistics - was last updated on October of 2025.