The global K-Beauty products market is expected to surge to $21.8 billion by 2026, at a CAGR of 11.3%, according to this report by Allied Market Research. This number is a big jump from up $9.3 billion in 2018.

The most prominent players in the market include Adwin Korea, Annie’s Way International, The Beauty Factory, BNH Cosmetics, LG Household & Health Care, and Amorepacific Corporation.

Factors driving market growth include:  

• A rise in the consumer’s inclination toward products developed from unique ingredients
• A demand for organic beauty products 
• Innovative skincare products with backed by comprehensive research & development

The Demand for Sheet Masks Will Continue

The sheet mask segment will maintain its lead position during the forecast period, researchers say.

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. This is due to ease in application and convenience coupled with the launch of innovative products.

Cleansers Will Grow the Fastest

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.

Consumers Will Buy K-Beauty in Specialty Stores

Where are consumers shopping for K-beauty products? The specialty/monobrand store segment is expected to dominate in terms of revenue by 2026, analysts say. 

Based on distribution channel, the specialty/monobrand store segment held the largest market share in the global K-beauty products market, accounting for nearly three-fifths of the total share in 2018.

This retail segment will continue to dominate throughout the forecast period, due to in-store experts offering a thorough knowledge of products. 

The online retail segment is expected to grow at the fastest CAGR of 13.0% from 2019 to 2026. 

A Look at Regions

Based on region, Asia-Pacific accounted for the highest market share, contributing to more than two-thirds of the global K-beauty products market in 2018, and will continue to contribute its lion’s share during the forecast period.

North America held the second position in terms of revenue in 2018.

Europe is expected to maintain the highest CAGR of 12.6% from 2019 to 2026.

Photos Above

Photos via PeachAndLily.com / (L) Peach & Lily’s Matcha Pudding Antioxidant Cream; (R) Sparkling Mask by Shangpree. 

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