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NORTH AMERICA K-BEAUTY PRODUCTS MARKET FORECAST 2023-2032

SCOPE OF THE REPORT

North America K-beauty Products Market by Gender (Male, Female) Market by Product Type (Skincare (Cleanser, Toner, Moisturizer, Sheet Mask & Spot Patch, Lip Care, Eye Care, Sun Protection), Body Care (Hand Care, Foot Care, Hair Care), Makeup (Eye Makeup, Lip Makeup, Face Makeup)) Market by Distribution Channel (Specialty/single-brand Store, Supermarket/hypermarket, E-commerce) by Geography


MARKET OVERVIEW

The North America K-beauty products market is estimated to progress with a CAGR of 10.02% during the forecasted period of 2023 to 2032, capturing a revenue share of $9901.50 million by 2032.

The market growth of the region is facilitated by key drivers, such as the development of innovative and attractive packaging, the increasing demand for clean-labeled products, and the influence of Korean beauty products via social media platforms such as Facebook and Instagram. However, the North America K-beauty products market will likely be restrained due to the high sensitivity to the ingredients used in cosmetic goods.

North America K-Beauty Products Market

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The North America K-beauty products market growth analysis encompasses the study of the United States and Canada. Over the years, the United States has emerged as the most valuable beauty and personal care market globally, generating approximately $89.5 billion in revenue in 2018. Further, facial cosmetics represented the second most profitable segment, with sales revenue totaling $1.9 billion. Given the significant size of the country’s market, consumers in the United States are also presented with an extensive array of brand choices, with numerous labels standing out as particularly popular. Additionally, according to a survey, consumer behavior in the United States beauty industry is highly influenced by special sales, unique products, as well as rewards programs, beyond factors such as price and location.

As consumers become increasingly concerned about potential toxicity in cosmetics, market segments offering chemical-free products made from natural ingredients and essential oils are expected to experience robust growth in the United States over the upcoming years. Furthermore, a 2019 global survey on the popularity of South Korean beauty products revealed that more than 29% of respondents in the United States consider K-beauty highly popular in their country, largely due to its emphasis on natural ingredients. Therefore, the abovementioned factors are anticipated to propel the market growth in North America during the forecasted period. 

The North America K-beauty products market is segmented into gender, product type, and distribution channel. The product type segment includes skincare, body care, and makeup. As Korean culture gains more prominence worldwide, an increasing number of K-beauty skincare products are being exported globally. Consequently, there has been a surge in competition within Korea to establish itself as the most innovative K-beauty brand; this competition has led to a continuous elevation in product quality. 

On the other hand, innovations in K-beauty have resulted in the introduction of unique ingredients such as donkey milk, snail slime, pigskin collagen, and bee venom, among others. Korean water-based cleansers have also witnessed a surge in popularity. These skincare products have earned a reputation for their remarkable ability to cleanse the skin by effectively removing impurities and dirt while preserving its natural oils. Moreover, the majority of K-beauty brands prioritize the use of gentle, natural components like green tea, rice water, and centella asiatica, thus ensuring a skin-friendly cleansing experience.

Some of the leading firms operating in the North America K-beauty products market include Peach & Lily, AmorePacific Corporation, The Crème Shop, etc.

The Crème Shop, headquartered in the United States, is a leading manufacturer of beauty & personal care products. The company sells its products under the following categories, namely, makeup and skincare, that are available worldwide via its online store. Some of its labels include CVS Pharmacy, Macy’s, Walmart, Marukai, Dolls Kill, ULTA Beauty, H-E-B, etc.

REPORT SYNOPSIS

REPORT SCOPEDETAILS
Market Forecast Years2023-2032
Base Year2022
Market Historical Years2018-2022
Forecast UnitsRevenue ($Million)
Segments Analyzed
Gender, Product Type, Distribution Channel
Countries AnalyzedThe United States and Canada
Companies AnalyzedAble C&C Co Ltd, Adwin Korea Corporation, AmorePacific Corporation, Banila Co, BNH Cosmetics, CALA Products, Clio, CosRX Inc, Glow Recipe, Holika Holika, LG H&H Co Ltd, Nature Republic, Peach & Lily, The Crème Shop, TonyMoly Co Ltd

TABLE OF CONTENT

  1. RESEARCH SCOPE & METHODOLOGY
    1. STUDY OBJECTIVES
    2. METHODOLOGY
    3. ASSUMPTIONS & LIMITATIONS
  2. EXECUTIVE SUMMARY
    1. MARKET SIZE & ESTIMATES
    2. MARKET OVERVIEW
    3. SCOPE OF STUDY
    4. CRISIS SCENARIO ANALYSIS
      1. IMPACT OF COVID-19 ON K-BEAUTY PRODUCTS MARKET
    5. MAJOR MARKET FINDINGS
      1. INCLUSIVE RANGE FOR PEOPLE OF COLOR
      2. INNOVATIVE PACKAGING – A TROPE IN K-BEAUTY PRODUCTS MARKET
  3. MARKET DYNAMICS
    1. KEY DRIVERS
      1. SURGE IN DEMAND FOR NATURAL AND ORGANIC PERSONAL CARE & COSMETICS
      2. K-BEAUTY PRODUCTS REVOLUTIONIZED THROUGH PRODUCT INNOVATION AND EXTENSIVE R&D
      3. PROMINENCE OF MALE SKINCARE CATEGORY 
    2. KEY RESTRAINTS
      1. RISE IN DUPED K-BEAUTY PRODUCTS 
      2. STRONG COMPETITION FROM ESTABLISHED INTERNATIONAL BRANDS
  4. KEY ANALYTICS
    1. KEY MARKET TRENDS
    2. PORTER’S FIVE FORCES ANALYSIS
      1. BUYERS POWER
      2. SUPPLIERS POWER
      3. SUBSTITUTION
      4. NEW ENTRANTS
      5. INDUSTRY RIVALRY
    3. GROWTH PROSPECT MAPPING
      1. GROWTH PROSPECT MAPPING FOR UNITED STATES
    4. VALUE CHAIN ANALYSIS
    5. KEY BUYING CRITERIA
      1. INGREDIENTS
      2. PACKAGING
      3. SKIN TYPE
      4. COST
  5. MARKET BY GENDER
    1. MALE
    2. FEMALE
  6. MARKET BY PRODUCT TYPE
    1. SKINCARE
      1. CLEANSER
      2. TONER
      3. MOISTURIZER
      4. SHEET MASK & SPOT PATCH
      5. LIP CARE
      6. EYE CARE
      7. SUN PROTECTION
    2. BODY CARE
      1. HAND CARE
      2. FOOT CARE
      3. HAIR CARE
    3. MAKEUP
      1. EYE MAKEUP
      2. LIP MAKEUP
      3. FACE MAKEUP
  7. MARKET BY DISTRIBUTION CHANNEL
    1. SPECIALTY/SINGLE-BRAND STORE
    2. SUPERMARKET/HYPERMARKET
    3. E-COMMERCE
  8. GEOGRAPHICAL ANALYSIS
    1. NORTH AMERICA
      1. MARKET SIZE & ESTIMATES
      2. NORTH AMERICA K-BEAUTY PRODUCTS MARKET DRIVERS
      3. NORTH AMERICA K-BEAUTY PRODUCTS MARKET CHALLENGES
      4. NORTH AMERICA K-BEAUTY PRODUCTS MARKET REGULATORY FRAMEWORK
      5. KEY PLAYERS IN NORTH AMERICA K-BEAUTY PRODUCTS MARKET
      6. COUNTRY ANALYSIS
        1. UNITED STATES
          1. UNITED STATES K-BEAUTY PRODUCTS MARKET SIZE & OPPORTUNITIES
        2. CANADA
          1. CANADA K-BEAUTY PRODUCTS MARKET SIZE & OPPORTUNITIES
  9. COMPETITIVE LANDSCAPE
    1. KEY STRATEGIC DEVELOPMENTS
      1. ACQUISITIONS
      2. PRODUCT LAUNCHES 
      3. PARTNERSHIPS
    2. COMPANY PROFILES
      1. ABLE C&C CO LTD
        1. COMPANY OVERVIEW
        2. PRODUCT LIST
        3. STRENGTHS & CHALLENGES
      2. ADWIN KOREA CORPORATION
        1. COMPANY OVERVIEW
        2. PRODUCT LIST
        3. STRENGTHS & CHALLENGES
      3. AMOREPACIFIC CORPORATION
        1. COMPANY OVERVIEW
        2. PRODUCT LIST
        3. STRENGTHS & CHALLENGES
      4. BANILA CO
        1. COMPANY OVERVIEW
        2. PRODUCT LIST
        3. STRENGTHS & CHALLENGES
      5. BNH COSMETICS
        1. COMPANY OVERVIEW
        2. PRODUCT LIST
        3. STRENGTHS & CHALLENGES
      6. CALA PRODUCTS
        1. COMPANY OVERVIEW
        2. PRODUCT LIST
      7. CLIO
        1. COMPANY OVERVIEW
        2. PRODUCT LIST
      8. COSRX INC
        1. COMPANY OVERVIEW
        2. PRODUCT LIST
        3. STRENGTHS & CHALLENGES
      9. GLOW RECIPE
        1. COMPANY OVERVIEW
        2. PRODUCT LIST
      10. HOLIKA HOLIKA
        1. COMPANY OVERVIEW
        2. PRODUCT LIST
      11. LG H&H CO LTD
        1. COMPANY OVERVIEW
        2. PRODUCT LIST
        3. STRENGTHS & CHALLENGES
      12. NATURE REPUBLIC
        1. COMPANY OVERVIEW
        2. PRODUCT LIST
      13. PEACH & LILY
        1. COMPANY OVERVIEW
        2. PRODUCT LIST
      14. THE CRÈME SHOP
        1. COMPANY OVERVIEW
        2. PRODUCT LIST
      15. TONYMOLY CO LTD
        1. COMPANY OVERVIEW
        2. PRODUCT LIST

LIST OF TABLES

TABLE 1: MARKET SNAPSHOT – K-BEAUTY PRODUCTS

TABLE 2: EXAMPLE OF NOVEL INGREDIENTS IN K-BEAUTY PRODUCTS

TABLE 3: NORTH AMERICA K-BEAUTY PRODUCTS MARKET, BY GENDER, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 4: NORTH AMERICA K-BEAUTY PRODUCTS MARKET, BY GENDER, FORECAST YEARS, 2023-2032 (IN $ MILLION)

TABLE 5: NORTH AMERICA K-BEAUTY PRODUCTS MARKET, BY PRODUCT TYPE, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 6: NORTH AMERICA K-BEAUTY PRODUCTS MARKET, BY PRODUCT TYPE, FORECAST YEARS, 2023-2032 (IN $ MILLION)

TABLE 7: NORTH AMERICA K-BEAUTY PRODUCTS MARKET, BY SKINCARE, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 8: NORTH AMERICA K-BEAUTY PRODUCTS MARKET, BY SKINCARE, FORECAST YEARS, 2023-2032 (IN $ MILLION)

TABLE 9: NORTH AMERICA K-BEAUTY PRODUCTS MARKET, BY BODY CARE, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 10: NORTH AMERICA K-BEAUTY PRODUCTS MARKET, BY BODY CARE, FORECAST YEARS, 2023-2032 (IN $ MILLION)

TABLE 11: NORTH AMERICA K-BEAUTY PRODUCTS MARKET, BY MAKEUP, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 12: NORTH AMERICA K-BEAUTY PRODUCTS MARKET, BY MAKEUP, FORECAST YEARS, 2023-2032 (IN $ MILLION)

TABLE 13: NORTH AMERICA K-BEAUTY PRODUCTS MARKET, BY DISTRIBUTION CHANNEL, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 14: NORTH AMERICA K-BEAUTY PRODUCTS MARKET, BY DISTRIBUTION CHANNEL, FORECAST YEARS, 2023-2032 (IN $ MILLION)

TABLE 15: NORTH AMERICA K-BEAUTY PRODUCTS MARKET, BY COUNTRY, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 16: NORTH AMERICA K-BEAUTY PRODUCTS MARKET, BY COUNTRY, FORECAST YEARS, 2023-2032 (IN $ MILLION)

TABLE 17: NORTH AMERICA REGULATORY FRAMEWORK

TABLE 18: KEY PLAYERS OPERATING IN NORTH AMERICA K-BEAUTY PRODUCTS MARKET

TABLE 19: LIST OF ACQUISITIONS

TABLE 20: LIST OF PRODUCT LAUNCHES 

TABLE 21: LIST OF PARTNERSHIPS

LIST OF FIGURES 

FIGURE 1: KEY MARKET TRENDS

FIGURE 2: PORTER’S FIVE FORCES ANALYSIS

FIGURE 3: GROWTH PROSPECT MAPPING FOR UNITED STATES

FIGURE 4: VALUE CHAIN ANALYSIS

FIGURE 5: KEY BUYING CRITERIA

FIGURE 6: NORTH AMERICA K-BEAUTY PRODUCTS MARKET, GROWTH POTENTIAL, BY GENDER, IN 2022

FIGURE 7: NORTH AMERICA K-BEAUTY PRODUCTS MARKET, BY MALE, 2023-2032 (IN $ MILLION)

FIGURE 8: NORTH AMERICA K-BEAUTY PRODUCTS MARKET, BY FEMALE, 2023-2032 (IN $ MILLION)

FIGURE 9: NORTH AMERICA K-BEAUTY PRODUCTS MARKET, GROWTH POTENTIAL, BY PRODUCT TYPE, IN 2022

FIGURE 10: NORTH AMERICA K-BEAUTY PRODUCTS MARKET, BY SKINCARE, 2023-2032 (IN $ MILLION)

FIGURE 11: NORTH AMERICA K-BEAUTY PRODUCTS MARKET, GROWTH POTENTIAL, BY SKINCARE, IN 2022

FIGURE 12: NORTH AMERICA K-BEAUTY PRODUCTS MARKET, BY CLEANSER, 2023-2032 (IN $ MILLION)

FIGURE 13: NORTH AMERICA K-BEAUTY PRODUCTS MARKET, BY TONER, 2023-2032 (IN $ MILLION)

FIGURE 14: NORTH AMERICA K-BEAUTY PRODUCTS MARKET, BY MOISTURIZER, 2023-2032 (IN $ MILLION)

FIGURE 15: NORTH AMERICA K-BEAUTY PRODUCTS MARKET, BY SHEET MASK & SPOT PATCH, 2023-2032 (IN $ MILLION)

FIGURE 16: NORTH AMERICA K-BEAUTY PRODUCTS MARKET, BY LIP CARE, 2023-2032 (IN $ MILLION)

FIGURE 17: NORTH AMERICA K-BEAUTY PRODUCTS MARKET, BY EYE CARE, 2023-2032 (IN $ MILLION)

FIGURE 18: NORTH AMERICA K-BEAUTY PRODUCTS MARKET, BY SUN PROTECTION, 2023-2032 (IN $ MILLION)

FIGURE 19: NORTH AMERICA K-BEAUTY PRODUCTS MARKET, BY BODY CARE, 2023-2032 (IN $ MILLION)

FIGURE 20: NORTH AMERICA K-BEAUTY PRODUCTS MARKET, GROWTH POTENTIAL, BY BODY CARE, IN 2022

FIGURE 21: NORTH AMERICA K-BEAUTY PRODUCTS MARKET, BY HAND CARE, 2023-2032 (IN $ MILLION)

FIGURE 22: NORTH AMERICA K-BEAUTY PRODUCTS MARKET, BY FOOT CARE, 2023-2032 (IN $ MILLION)

FIGURE 23: NORTH AMERICA K-BEAUTY PRODUCTS MARKET, BY HAIR CARE, 2023-2032 (IN $ MILLION)

FIGURE 24: NORTH AMERICA K-BEAUTY PRODUCTS MARKET, BY MAKEUP, 2023-2032 (IN $ MILLION)

FIGURE 25: NORTH AMERICA K-BEAUTY PRODUCTS MARKET, GROWTH POTENTIAL, BY MAKEUP, IN 2022

FIGURE 26: NORTH AMERICA K-BEAUTY PRODUCTS MARKET, BY EYE MAKEUP, 2023-2032 (IN $ MILLION)

FIGURE 27: NORTH AMERICA K-BEAUTY PRODUCTS MARKET, BY LIP MAKEUP, 2023-2032 (IN $ MILLION)

FIGURE 28: NORTH AMERICA K-BEAUTY PRODUCTS MARKET, BY FACE MAKEUP, 2023-2032 (IN $ MILLION)

FIGURE 29: NORTH AMERICA K-BEAUTY PRODUCTS MARKET, GROWTH POTENTIAL, BY DISTRIBUTION CHANNEL, IN 2022

FIGURE 30: NORTH AMERICA K-BEAUTY PRODUCTS MARKET, BY SPECIALTY/SINGLE-BRAND STORE, 2023-2032 (IN $ MILLION)

FIGURE 31: NORTH AMERICA K-BEAUTY PRODUCTS MARKET, BY SUPERMARKET/HYPERMARKET, 2023-2032 (IN $ MILLION)

FIGURE 32: NORTH AMERICA K-BEAUTY PRODUCTS MARKET, BY E-COMMERCE, 2023-2032 (IN $ MILLION)

FIGURE 33: NORTH AMERICA K-BEAUTY PRODUCTS MARKET, COUNTRY OUTLOOK, 2022 & 2032 (IN %)

FIGURE 34: UNITED STATES K-BEAUTY PRODUCTS MARKET, 2023-2032 (IN $ MILLION)

FIGURE 35: CANADA K-BEAUTY PRODUCTS MARKET, 2023-2032 (IN $ MILLION)

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