Skin Care - South Korea
South Korea- in South Korea, a country known for its booming beauty industry, is no exception when it comes to the Skin Care market.
- In 2024, the revenue in this market is projected to reach an impressive US$9.24bn.
- Looking ahead, the market is expected to experience a steady annual growth rate of 2.17% from 2024 to 2029 (CAGR 2024-2029).
- While in South Korea holds its own in the global beauty scene, it is worth noting that the majority of the revenue in the Skin Care market is generated United States.
- In 2024, [globalrevenue_currentlayer_yeartoday_maxcountrynameprep] is expected to see revenues of US$24bn, making it the leader in this market on a global scale.
- When considering the revenue in relation to the population figures, South Korea's per person revenue in the Skin Care market is estimated to be US$178.60 in 2024.
- This showcases the significant impact of the beauty industry on the country's economy and consumer spending.
- Looking specifically at the product segmentation within the Skin Care market, [maxNon-LuxuryRevenueShare] are expected to account for [max[maxNon-LuxuryRevenueShare]RevenueShareValue] of the total sales by 2024.
- This indicates the demand for high-end skincare products, showcasing the willingness of consumers to invest in premium offerings.
- Overall, South Korea's Skin Care market demonstrates its prominence and potential in the global beauty industry, with substantial revenue figures and a diverse range of product segments.
- South Korea's skin care market is dominated by K-beauty products known for their innovative ingredients and focus on achieving flawless, youthful skin.
Definition:
Skin Care includes cosmetic products designed for care and protection of the skin. These cover all types of creams and lotions for face, hand and foot care as well as sunscreen. The products are not used for decorative purposes. Excluded are skin treatment products with a health focus, e.g. acne treatments, which are shown in the Consumer Market Outlook as part of OTC Pharmaceuticals.
Structure:
The market consists of 5 different segments:
- The Face Skin Care covers cosmetic products designed for care and protection of the face covering face and eye creams, face scrubs, masks and lip balms.
- The Body segment includes cosmetic products designed for care and protection of the skin. These incorporate all types of creams and lotions for the body, massage oil, hand and foot care.
- The Sun Protection market includes cosmetic products used for sun protection of the skin. These incorporates all types of adult sunscreens, sun sprays and after sun lotions.
- The Baby & Child cover products designed for the young and for the protection of their skin. These incorporate baby lotion, baby oil, baby powder and sunscreen for babies and children.
- The Natural Skin Care covers cosmetic products designed for care and protection of the skin. These cover all types of creams and lotions for face, hand and foot care as well as sunscreen. The products are made from natural ingredients and designed to contain low or minimal amounts of synthetic chemicals content.
Additional Information:
The market comprises revenue, average revenue per capita, sales channel, and luxury share. The market encompasses retail sales through both online and offline sales channels to private end customers (B2C). For more information on the displayed data, click the info button on the right side of each box.
In-Scope
- Creams & lotions
- Sunscreen
- Eye & hand cream
- Baby & child skin care
Out-Of-Scope
- Decorative cosmetics
- Professional products & services
- Skin treatment products (e.g. acne treatment)
