Korea is China's second largest exporter of cosmetics

By Michelle Yeomans contact

- Last updated on GMT

Korea is China's second largest exporter of cosmetics

Related tags: Korea, United states dollar, South korea

Korea has become the second largest exporter of cosmetics to China behind France, with 34 per cent market share.

The country is becoming a key exporter to China as Korean brands are proving to be better able to respond to the fast changing demand than most international companies.

China's inbound shipments of cosmetics totaled six-hundred-86 million U.S. dollars in the first quarter of this year. Of that, 19 per cent or one-hundred-31 million dollars worth came from Korea.

According to South Korea’s customs office, cosmetic exports rose by 50% to US$1.92 bn, exceeding imports of USD 0.99 bn after experiencing a bad spell where consumers preferred established imported brands from the US, France and Japan.

Key destinations included China, Hong Kong, Japan, the U.S. and Southeast Asian countries. Other Asian countries, Japan, Singapore, Thailand and elsewhere (excluding the U.S.) made up the rest of the top ten export destinations list.

International demand

As domestic markets inch closer to saturation, numerous Korean brands have really started to recognize their own R&D and manufacturing capabilities, which is transforming how “Made in Korea” products are viewed. 

South Korea is increasingly a new focal market for industry professionals, as it is arguably one of the most innovative personal care markets in the APAC region, with sales of cosmetics and toiletries growing by 9.1 per cent in 2012.

The main driver behind the growth in exports is twofold: the number of countries importing South Korean beauty goods is increasing, while the price of the individual products is also on the rise.

Korea is Asia’s third largest cosmetics market and has been growing steadily since 2009. As home to more than 1,500 cosmetic manufacturers and the world’s highest spenders per capita in the field of skincare and male grooming products, it offers a huge opportunity,”​ says Lucy Gillam, director at Reed Exhibitions.

Related news

Show more

Related products

show more

Sensiva™ go natural,a protector without compromise

Sensiva™ go natural,a protector without compromise

Ashland Global Holdings Inc | 24-Jun-2022 | Technical / White Paper

Consumers are increasingly buying natural, organic beauty and wellbeing products as noted from the increasing number of product launches with natural claim...

Formulating for Clean Beauty

Formulating for Clean Beauty

Elementis | 26-May-2022 | Product Brochure

Water scarcity and water pollution continues to be a concern for the environment. Every year, about 130 tons of microplastic particles from personal care...

Caressense™ biofunctional, powering ageless beauty

Caressense™ biofunctional, powering ageless beauty

Ashland Global Holdings Inc | 01-May-2022 | Data Sheet

For the first time, Ashland researchers reveal a natural bioactive that can activate skin’s sensors of touch, the piezos, to release “feel-good” and anti-aging...

Related suppliers

Follow us

Products

View more

Webinars

Indie Pioneers Podcast

Indie Pioneers Podcast