According to Inkwood Research, the Global K-Beauty Products Market is expected to record a CAGR of 9.71% in terms of revenue over the forecasting period of 2023-2032.
“Browse 77 Market Data Tables and 62 Figures spread over 290 Pages, along with an in-depth TOC on the Global K-Beauty Products Market Forecast 2023-2032.”
K-beauty products, also known as Korean beauty, refers to the South Korean skincare industry and its associated fashions. K-beauty products have gained global attention due to their innovative formulas, distinctive packaging, and emphasis on skin health. Moreover, green tea, rice water, and ginseng are prominent K-beauty ingredients.
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Innovations & Strategic Investments to Drive Global Market Growth
The market for K-beauty products has grown and developed rapidly due to research, innovation, and technical advancement. New production technologies developed through R&D, like separation and refining, have helped boost the sector into the future. With these developments, Korea now has enhanced equipment and production facilities. In terms of innovation, the skincare market in Korea is 7 years ahead of its competitors globally.
Male K-Beauty: Highest Revenue Generating Segment in 2022
The male beauty industry is expanding beyond basic maintenance. Since they are aware of the connection between skin care, self-grooming and wellness, more males are embracing skin care and boosting the market growth.
North America to Rise with Highest CAGR by 2032
North America is a dynamic market for beauty products, particularly in the United States. The premium skincare and dermo-cosmetics market in the region has grown significantly because of its consumers’ willingness to try out new items and its accessibility to products made with unique substances.
Strong competition is anticipated in the global market during the forecast years. COSRX, Banila Co, Amorepacific Corporation, etc., operate in the global K-beauty products market.
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Inkwood Research specializes in syndicated & customized research reports and consulting services. Market intelligence studies with relevant fact-based research are customized across industry verticals such as technology, automotive, chemicals, materials, healthcare, and energy, with an objective comprehension that acknowledges the business environments. Our geographical analysis comprises North & South America, CEE, CIS, the Middle East, Europe, Asia, and Africa.