Market Insights Consumer Beauty & Personal Care

Cosmetics - South Korea

South Korea

In 2024, the revenue in the Cosmetics market in South Korea is estimated to be €1.63bn.
It is projected to experience an annual growth rate of 2.45% (CAGR 2024-2029).
When compared globally, in the United States generates the highest revenue with €18,660m in 2024.
Looking at the per person figures, in South Korea generates €31.47 in revenue per person in 2024.
Additionally, by 2024, 75% of sales in the Cosmetics market will be attributed to Non-Luxury.
South Korea's cosmetics market is booming, with a strong focus on innovative skincare products and a growing demand for natural and organic beauty brands.

Key regions: Malaysia, Singapore, Worldwide, Indonesia, India

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Methodology

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, regression analysis and Monte Carlo simulations are particularly suited for forecasting in the Home and Laundry Care market, due to the unpredictable variability and complex dynamics in consumer behavior and product adoption. The main drivers are GDP and consumer spending.