{"id":2206788,"date":"2024-10-14T08:00:48","date_gmt":"2024-10-13T23:00:48","guid":{"rendered":"https:\/\/koreapro.org\/?p=2206788"},"modified":"2024-10-13T21:52:59","modified_gmt":"2024-10-13T12:52:59","slug":"south-koreas-cosmetics-exports-hit-7-4-billion-but-lag-behind-french-giants","status":"publish","type":"post","link":"https:\/\/koreapro.org\/2024\/10\/south-koreas-cosmetics-exports-hit-7-4-billion-but-lag-behind-french-giants\/","title":{"rendered":"South Korea\u2019s cosmetics exports hit $7.4 billion but lag behind French giants"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">South Korea\u2019s cosmetics exports reached <\/span><a href=\"https:\/\/www.mfds.go.kr\/brd\/m_99\/view.do?seq=48603&amp;srchFr=&amp;srchTo=&amp;srchWord=&amp;srchTp=&amp;itm_seq_1=0&amp;itm_seq_2=0&amp;multi_itm_seq=0&amp;company_cd=&amp;company_nm=&amp;page=1\"><span style=\"font-weight: 400;\">$7.4 billion<\/span><\/a><span style=\"font-weight: 400;\"> 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%.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">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.<\/span><\/p>\n<p><b>WHY IT MATTERS<\/b><\/p>\n<p><span style=\"font-weight: 400;\">South Korea\u2019s cosmetics sector is gaining traction internationally, with companies like <\/span><a href=\"https:\/\/stories.amorepacific.com\/en\/amorepacific-announces-new-regional-heads-for-china-north-america-and-japan\/\"><span style=\"font-weight: 400;\">Amorepacific<\/span><\/a><span style=\"font-weight: 400;\"> expanding their presence in key markets such as the U.S., China and Japan. Meanwhile, smaller brands like <\/span><a href=\"https:\/\/beautyofjoseon.com\/?srsltid=AfmBOopLHEi6zF_xXk3TsqRPdhVWgVFRFhZJVCDzwgjl7yty0UH7jjHF\"><span style=\"font-weight: 400;\">Beauty of Joseon<\/span><\/a><span style=\"font-weight: 400;\"> have found success through viral marketing, particularly on social media platforms like <\/span><a href=\"https:\/\/www.whowhatwear.com\/beauty\/skin\/beauty-of-joseon-review\"><span style=\"font-weight: 400;\">TikTok<\/span><\/a><span style=\"font-weight: 400;\">, which has boosted their visibility among younger, trend-driven consumers.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">However, while South Korea is becoming more competitive in the global beauty market, it still trails behind major players like France, whose cosmetics exports reached a record <\/span><a href=\"https:\/\/www.industries-cosmetiques.fr\/en\/french-cosmetics-export-record\/\"><span style=\"font-weight: 400;\">$23.3 billion in 2023<\/span><\/a><span style=\"font-weight: 400;\">. South Korea&#8217;s strong performance signals potential, but it has a long way to go to match the sheer scale and heritage of France\u2019s industry.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The global beauty market is fiercely competitive, and brands will need to continue evolving their strategies to stay relevant. South Korean companies are making their mark, but they still face challenges in competing with established giants like France and <\/span><a href=\"https:\/\/www.mordorintelligence.com\/industry-reports\/japan-cosmetics-products-market-industry\"><span style=\"font-weight: 400;\">Japan<\/span><\/a><span style=\"font-weight: 400;\">.<\/span><\/p>\n<div class=\"content-tags\"><a href=\"https:\/\/koreapro.org\/tag\/business-economy\/\"><span class=\"tag\">Business &amp; Economy<\/span><\/a><a href=\"https:\/\/koreapro.org\/tag\/culture-society\/\"><span class=\"tag\">Culture &amp; Society<\/span><\/a><\/div>","protected":false},"excerpt":{"rendered":"<p>South Korea\u2019s 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 [&hellip;]<\/p>\n","protected":false},"author":10407,"featured_media":2206789,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[30],"tags":[24,25],"class_list":["post-2206788","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-briefings","tag-business-economy","tag-culture-society"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>South Korea\u2019s cosmetics exports hit $7.4 billion but lag behind French giants - Korea Pro<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/koreapro.org\/2024\/10\/south-koreas-cosmetics-exports-hit-7-4-billion-but-lag-behind-french-giants\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"South Korea\u2019s cosmetics exports hit $7.4 billion but lag behind French giants - Korea Pro\" \/>\n<meta property=\"og:description\" content=\"South Korea\u2019s cosmetics exports reached $7.4 billion during the third quarter of 2024, driven by rising global demand for K-beauty products. 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