South Korean skincare products, known as K-beauty, are taking the global beauty market by storm. Consumers in China and the US are particularly drawn to these products that use traditional Korean ingredients like ginseng and green tea to achieve the highly desired “glass skin” look.
Lisa Hong, a consultant and market specialist at Euromonitor, said, “The ingredient-focused beauty trend, emphasizing the functionality and efficacy of raw materials, is gaining traction globally, particularly in China and the US.” She added that K-beauty brands have showcased the scientific efficacy of traditional Korean ingredients like mushrooms, mung beans, and lotus flowers, which have become key drivers of K-beauty’s popularity.
According to South Korea’s Ministry of Food and Drug Safety, 2024, Korean cosmetics exports rose 21% to $10.2 billion from the previous year. Essential skincare products accounted for 75%, at $7.67 billion. This makes South Korea the third-largest cosmetics exporter in the world. China was the top destination, with $2.5 billion, followed by the US at $1.9 billion and Japan at $1 billion.
Traditional ingredients drive K-beauty growth
Hwajun Lee, associate director for beauty and personal care for Asia and the Pacific at Mintel, said the beauty trend encourages consumers to try products with unique ingredients. “For example, products using fermented ingredients such as houttuynia cordata (chameleon plant) and snail mucus, which are not readily available in other countries, are excellent for moisturizing and repairing the skin,” he said. Amorepacific Corp., a major South Korean beauty company, saw its sales rise 5.9% to $2.9 billion (₩4.26 trillion) in 2024 from the previous year, driven by strong performance in global markets, particularly in Western regions.
Hong said that while K-beauty used to focus on low prices through road shop brands, it is now on par with high-end derma brands. However, she emphasized that the K-beauty market should maintain its identity and emphasis on ingredients to avoid becoming a short-lived fad. As K-beauty continues to innovate and incorporate traditional ingredients with cutting-edge science, it is expected to remain a leader in the global skincare industry, setting trends and capturing consumers’ attention worldwide.
