South Korea’s cosmetics exports hit $7.4 billion but lag behind French giants



Briefings South Korea’s cosmetics exports hit $7.4 billion but lag behind French giants Despite growth in the U.S. and Japan, South Korea’s beauty industry faces stiff competition from global leaders KOREA PROOctober 14, 2024 SHARE COPY LINK FACEBOOK X LINKEDIN MASTODON An illustration of a cosmetics shop \| Image: Korea Pro South Korea’s cosmetics exports reached $7.4 billion during the third quarter of 2024, driven by rising global demand for K-beauty products. The U.S. and Japan have emerged as key growth markets, with U.S. exports alone rising by 38.6%. Meanwhile, China remains the largest market, but exports to the region dipped by 9.1%. Skincare products, particularly personal cleansing items, accounted for $5.56 billion out of the total $7.4 billion, pointing to consumer demand for practical and innovative beauty products. WHY IT MATTERS South Korea’s cosmetics sector is gaining traction internationally, with companies like Amorepacificexpanding their presence in key markets such © Korea Risk Group. All rights reserved. No part of this content may be reproduced, distributed, or used for commercial purposes without prior written permission from Korea Risk Group. LATEST ANALYSIS 01Trump’s Korea investment victory lap masks safeguards Seoul still controls 02North Korean POW dispute tests Seoul-Kyiv trust and future Ukraine policy 03South Korea’s CPTPP push exposes the cost of turning trade gains into consensus 04AI storage boom gives South Korea battery makers an EV overcapacity lifeline 05South Korea’s Mexico strategy runs into the hard limits of USMCA politics 06Preschool test ban forces South Korea’s English hagwons to rethink placement 07Lee Jae Myung’s Wall Street pitch tests South Korea’s capital market credibility 08US midterm clock raises stakes for South Korea’s $200 billion investment talks

Briefings

South Korea’s cosmetics exports hit $7.4 billion but lag behind French giants

Despite growth in the U.S. and Japan, South Korea’s beauty industry faces stiff competition from global leaders

KOREA PROOctober 14, 2024

South Korea’s cosmetics exports hit $7.4 billion but lag behind French giants

An illustration of a cosmetics shop | Image: Korea Pro

South Korea’s cosmetics exports reached $7.4 billion during the third quarter of 2024, driven by rising global demand for K-beauty products. The U.S. and Japan have emerged as key growth markets, with U.S. exports alone rising by 38.6%. Meanwhile, China remains the largest market, but exports to the region dipped by 9.1%.

Skincare products, particularly personal cleansing items, accounted for $5.56 billion out of the total $7.4 billion, pointing to consumer demand for practical and innovative beauty products.

WHY IT MATTERS

South Korea’s cosmetics sector is gaining traction internationally, with companies like Amorepacificexpanding their presence in key markets such

LATEST ANALYSIS

01Trump’s Korea investment victory lap masks safeguards Seoul still controls
02North Korean POW dispute tests Seoul-Kyiv trust and future Ukraine policy
03South Korea’s CPTPP push exposes the cost of turning trade gains into consensus
04AI storage boom gives South Korea battery makers an EV overcapacity lifeline
05South Korea’s Mexico strategy runs into the hard limits of USMCA politics
06Preschool test ban forces South Korea’s English hagwons to rethink placement
07Lee Jae Myung’s Wall Street pitch tests South Korea’s capital market credibility
08US midterm clock raises stakes for South Korea’s $200 billion investment talks

South Korea’s cosmetics exports hit $7.4 billion but lag behind French giants

LATEST ANALYSIS

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