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Korean Beauty Trends & Industry News: 23-12-11


K-Beauty Surges in Japan's Affordable Cosmetics Market

Korean beauty products, known as K-Beauty, are rapidly gaining popularity in Japan's affordable cosmetics market. According to a report from the Japan Cosmetic Industry Association, Korean cosmetics imports reached 77.5 billion yen last year, surpassing French products to take the top spot. Notably, makeup brands like 'Laka' and 'Witch Factory' are significantly driving overseas sales in Japan.

'Laka' has over 45% of its sales from direct online stores in Japan, and during a discount event on Qoo10 Japan alone, it recorded sales exceeding 140 million yen. Additionally, these brands are expanding into offline channels by entering major Japanese variety stores. Meanwhile, conglomerates like Amorepacific and LG Household & Health Care are also intensifying their presence in Japan with brands like Etude, Innisfree, Laneige, Hera, and VDL. LG Household & Health Care, for instance, has acquired the premium color makeup brand Hince's parent company VivaWave, focusing on establishing a premium image in the Japanese market.

Industry experts attribute the success of affordable Korean brands to the popularity of K-Pop, the value-for-money trend among Japan's MZ generation, and the lack of investment in affordable brands by major Japanese cosmetics companies like Shiseido. However, they also note that to improve profitability and market share, Korean brands need to expand beyond affordable products to include premium offerings as well.


Following K-Arms, K-Beauty Success Wave Hits Poland with Mask Pack Craze

The Polish cosmetics market is experiencing a surge of enthusiasm for K-Beauty, especially Korean-made facial mask packs. Euromonitor reports that in 2022, the Polish cosmetics market grew to $5.559 billion, with skincare accounting for 23.4% of the total market. Facial care products were the top sellers, with sales up 14.9% from the previous year to $951.81 million.

Over the past decade, Poland has seen an average annual growth rate of 49.2% in imports of Korean cosmetics. In 2022, Poland imported about $38.216 million in Korean cosmetics, a 12.6% increase from the previous year. Korean mask packs dominate over 80% of the market share, with related products like acne patches and hyaluronic acid patches also gaining popularity.

The success of Korean cosmetics in Poland is attributed to high-quality products, reasonable prices, and effective social media marketing strategies. Polish consumers prefer products that offer good quality at lower prices, especially in facial care. Experts predict a bright future for the Polish cosmetics market and advise Korean companies to consider market trends and consumer interest in eco-friendly, organic, and vegan products. The success of K-Beauty in Poland, following the K-Arms industry, demonstrates the global competitiveness of Korean products.


Global Cosmetics Market Transforms Post-COVID: Clean Beauty and IT Technology Lead the Way

Post-COVID-19, the global cosmetics market has undergone significant changes, with clean beauty and IT-integrated personalization leading the trends. This was highlighted at the '13th Global Cosmetics Market Trends Seminar' hosted by the Korea Cosmetics Industry Institute. Yang Se-hwan, a senior researcher at EC21 R&C, introduced key trends like clean beauty, IT-integrated personalization, multifunctional sunscreens, functional shampoos, and TikTok-driven makeup trends.

Clean beauty, emphasizing the safety and eco-friendliness of cosmetics, is spreading globally. China has introduced clean beauty regulations to tighten controls on cosmetic ingredients and advertising, while the U.S. has seen over a 10% growth in the clean beauty market.

Personalization using IT is gaining traction, providing customized cosmetic solutions based on individual skin types and preferences. In Japan and the U.S., major brands are acquiring startups with relevant technologies or investing in-house to develop personalized solutions.

Sunscreens, especially multifunctional ones, have shown substantial growth, increasing by over 30% since 2021. Functional shampoos addressing aging-related hair concerns have also surged in popularity.

In makeup, TikTok plays a pivotal role, with various brands using the platform for promotion and TikTok influencers shaping makeup trends.

Other global issues include the popularity of manicures in Brazil, the acne positivity trend, and the issue of mercury-containing Chinese cosmetics in the Philippines.

Post-COVID, the importance of combining online and offline marketing has increased, with a focus on eco-friendly marketing using keywords like organic, vegan, and chemical-free. These trends and insights are expected to guide the positioning of Korean cosmetics in the global market and explore new business opportunities.
Location: 대한민국

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