Korea, a small information on one of the most exciting & dynamic players in Beauty

Korean Beauty: everybody is talking and commenting on the latest Korean beauty routine videos. And we all got a little obsessed… With innovative technology that is inherited millenial traditions – not to mention the mind-blowing results – it’s easy to see why the very complex but wonderful Korean beauty market, its beauty hacks and 10-step skin care methods create huge buzz. Let me reveal some of key facts and stories. 

Korean Cosmetic’s Total Manufactured amount in 2018 : 15.50 trillion won = 12.687 billion USD

Beautiful, clean, young-looking skin is the core value in Korean/Asian beauty goal. And this value is shown on the manufacturing data.

Skincare is the historically leading category with 9.369 trillion won (60.44%) -about 7.66 billion USD-  60.44%), followed by color cosmetics (2.395 trillion won, 15.45%), hair (1.58 trillion won, 10.20%), and body cleaning (1.70 trillion won, 8.70%).

Numbers shown are from the 2018 Annual Production Data conducted by Korean Ministry of Food and Drug Safety. The 2019 datas will be available within a few month. 

%

Skincare 60.44

%

Makeup 15.45

%

Hair 10.2

%

Body/Bath 8.7

%

Others 5.21

Beauty Category % vs total per Global Region 

Asia Pacific is dominated by Skincare while Middle East & Africa region is dominated by Fragrance.

Color Cosmetics’ % is somewhat positionned between 14 to 18% accross the globe.

source: euromonitor 

  • % of SKINCARE VS TOTAL BEAUTY – ASIA PACIFIC 47.4% 47.4%
  • % of SKINCARE VS TOTAL BEAUTY – EUROPE 25.3% 25.3%
  • % of SKINCARE VS TOTAL BEAUTY – AMERICA 21.2% 21.2%
  • % of SKINCARE VS TOTAL BEAUTY – Middle East & AFRICA 15.3% 15.3%
  • % of MAKEUP VS TOTAL BEAUTY – ASIA PACIFIC 14.7% 14.7%
  • % of MAKEUP VS TOTAL BEAUTY – EUROPE 16.4% 16.4%
  • MAKEUP VS TOTAL BEAUTY – AMERICA 18.1% 18.1%
  • % of MAKEUP VS TOTAL BEAUTY – Middle East & AFRICA 15.2% 15.2%
  • % of FRAGRANCE VS TOTAL BEAUTY – ASIA PACIFIC 3.5% 3.5%
  • % of FRAGRANCE VS TOTAL BEAUTY – EUROPE 16.7% 16.7%
  • FRAGRANCE VS TOTAL BEAUTY – AMERICA 15.8% 15.8%
  • % of FRAGRANCE VS TOTAL BEAUTY – Middle East & AFRICA 22.3% 22.3%

When we look into the manufacturers’ ranking, the concentration of the TOP 2 are unbelievably high : 58.42% of total producation in Korea.  

AMORE PACIFIC ranked No. 1 with 4.55 trillion won (29.39%), followed by LG Household & Health Care 4.5 trillion won (29.03%), Aekyung Industrial Co., Ltd (3.11%), GeePi Club (1.99%), and Coreana Co., Ltd. (1.49%).

  • Amore Pacific 29,39% 29,39%
  • LG HH 29,03% 29,03%
  • Aekyung 3,11% 3,11%
  • Others 38,47% 38,47%

Korean are the most heavy users and own particularly high # of skincare products : 24% of women have 20pcs and 23% of women have 30 to 50pcs of beauty product*.

 Korean women use the highest # of skin products in the morning among Asian countries. 

Korea : # of Skin care products used in the morning

Japan : # of Skin care products used in the morning

China : # of Skin care products used in the morning

Thailand : # of Skin care products used in the morning

India : # of Skin care products used in the morning

Vietnam: # of Skin care products used in the morning

Korean Morning Beauty Routine 

Top 10 manifactured products are therefore concentrated on Skincare product. Note that the key product categories such as essence, milky lotion and cream are the top manufactured products. 9 products of the Top 10 are from the Top 2 manufacturers : Amore Pacific and LG LL. 

No.1 : History of Whoo Kidanhwahyun Milky Lotion (LG HH)

No.2 : History of Whoo Kidanhwahyun Balancer (LG HH)

No.3 : Suhwasoo Yunjo Essence (Amore Pacific)

No.4 : History of Whoo Bichopjasaeng Essence (LG HH)

No.5 : Suhwasoo Jaum milky Lotion (Amore Pacific)

No.6 : Suhwasoo Jaum Water (Amore Pacific)

No.7 : History of Whoo Kidanhwahyun Cream  (LG HH)

No.8 : History of Whoo Gongjinhyang Milky lotion  (LG HH)

No.9 : La Neige Skin Veil (Amore Pacific)

No.10 : Age 20 Essence Cover Pact White Beige 21 (Aekyung)

The cosmetics trade balance has been surplus for the last five years in a row, exceeding 3 trillion won in 2016, and surpassing 4 trillion won in 2018.
In 2018, cosmetics exports were $ 62,019 million (6.88 trillion won), an increase of 23.3% (in won) from $ 49.448 billion (5.590 billion won) in 2017, and average growth rate of 36.5% from 2014 to 2018. Continued to grow steeply.
Revenue was $ 1,292.6 million (1.42 trillion won) in 2018, up 6.8% (in won) from $ 1,072.3 million (1.32 trillion won) in previous year.
In particular, exports to China, increased 37.5%.

Sulwhasoo China adversement with Angela Baby, Chines Top influencer

South Korea exports cosmetics to 

  • Korea’s first export “client” country is China.
  • Export to Indonesia and Kazakhstan jumped up.
  • Korea imports from France
  • By country, China’s export performance was $ 2.66 billion (2.93 trillion won), followed by Hong Kong ($ 1.35 billion, 1.44 trillion won) and the United States ($533.8 million, 593.3 billion won), and Japan ($ 326 million, 330 billion won).
  • In particular, Indonesia and Kazakhstan soared 110.9% and 91.0%, respectively. In addition, Cambodia and Kazakhstan entered the top 20 export countries for the first time, and exports to advanced countries such as the United Kingdom and France also increased (27.8%).

South Korea imports cosmetics from 

Korea imports cosmetic goods from France ($ 364.7 million and $ 411.4 billion won), followed by the United States ($ 314.1 million, 344 billion won), Japan ($ 211.35 million, 235 billion won), Thailand ($ 55.52 million, 60.6 billion won) and Italy (US $ 42.42 million, 44.5 billion won) were in order.

Korean Beauty Goal : Younger Looking Skin (Anti-aging) + Brighter, Whiter, Flawless skin (Whitening) + glowing complexion

Wish to know further?

I would love to give you further insights by reponding to what you need exactly. Click the link to get connected. 

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