Surge in inclination toward products developed from unique ingredients, demand for organic and personal care & cosmetic products

PORTLAND, 5933 NE WIN SIVERS DRIVE, #205, OR 97220, UNITED STATE, September 16, 2022 /EINPresswire.com/ -- The K-Beauty products market is expected to witness significant growth, owing to increase in awareness among consumers regarding maintaining prolonged beauty and change in lifestyle have significantly contributed toward growth of the market. Furthermore, increase in aggressive advertisements and promotions through social media platforms by manufacturers plays a crucial role in growth of the market

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Allied Market Research published a report, titled, "K-beauty Products Market by Product Type (Sheet Masks, Cleansers, Moisturizers, Makeup and Others), End User (Male and Female), and Distribution Channel (Online Retail, Supermarket/Hypermarket and Specialty/Monobrand Stores): Global Opportunity Analysis and Industry Forecast, 2019–2026." According to the report, the global K-beauty products industry generated $9.3 billion in 2018, and is expected to reach $21.8 billion by 2026, registering a CAGR of 11.3% from 2019 to 2026.

Surge in inclination toward products developed from unique ingredients, demand for organic and personal care & cosmetic products, and innovation in skin care products with comprehensive research & development activities drive the growth of the global K-beauty products market

Drivers, restraints, and opportunities

Surge in inclination toward products developed from unique ingredients, demand for organic and personal care & cosmetic products, and innovation in skin care products with comprehensive R&D activities drive the growth of the global K-beauty products market. On the other hand, surge in veganism goods restrain the market growth. Contrarily, male skin care regime products and rise in demand from the U.S. and Southeast Asian countries create new opportunities in the market.

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The sheet mask segment to maintain its lead position during the forecast period

Based on product type, the sheet mask segment held nearly one-fourth of the total market share of the global K-beauty products market in 2018, and is expected to maintain its lead position during the forecast period. This is due to ease in application and convenience coupled with launch of innovative products that cater to varying functions and requirements. However, the cleanser segment is expected to grow at the fastest CAGR of 11.8% from 2019 to 2026, owing to extensive R&D activities and their ability of high moisture retention.

The K-beauty products market trends is primarily driven by the consumers inclination toward products inspired with unique ingredient formulas. For instance, the use of pearls in skin brightening products and propolis from bees for nourishing, are two other unusual components found in K-beauty products.

Market players grabbing the largest pie
Able C&C Co., Ltd.
Adwin Korea Corp.
Annie's Way International Co., Ltd.
The Beauty Factory, Ltd.
Bluehug, Inc.,
BNH Cosmetics
Ceragem Health and Beauty Co, Ltd.
CK Beauty Enterprise Inc.
LG Household & Health Care
Amorepacific Corporation

Global per capita income has witnessed a strong growth rate over past few years, particularly in emerging economies. Increase in urbanization, growth of middle class consumers, and surge in rate of female participation in labor force in many developing and developed markets has encouraged adoption of convenience-oriented lifestyles, making K-Beauty products more desirable. In addition, as consumers become more meticulous regarding their lifestyle choices, they are looking deeper than superficial solutions and choosing more traditional healthy approaches of beauty. Hence, the rise in demand for natural and organically derived ingredients in cosmetic and personal care products, has created new avenues in the K-beauty cosmeceutical market.

Key Findings Of The Study

Based on product type, the sheet mask segment accounted for the highest K-beauty products market share in 2019, growing at a CAGR of 8.7% and cleanser segment growing fastest with a CAGR of 11.0% between 2021 and 2027.
Based on end user, the female segment accounted for about 69% of the market share in 2019. However, the male is expected to grow at a CAGR of 9.9% during the forecast period.
Based on distribution channel, the specialty/monobrand store segment accounted for about 57.4% of the market share in 2019. However, the online retail segment is expected to grow fastest at a CAGR of 11.2% during the forecast period.
Based on region, Asia-Pacific accounted for about 69.9% of the K-beauty products industry by share and is expected to grow at a CAGR of 8.1%.

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Reason to Buy:

✅ Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the global K-Beauty Products Market.
✅ Highlights key business priorities in order to guide the companies to reform their business strategies and establish themselves in the wide geography.
✅ The key findings and recommendations highlight crucial progressive industry trends in the K-Beauty Products Market, thereby allowing players to develop effective long-term strategies in order to garner their market revenue.
✅ Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
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Allied Analytics LLP
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