International beauty players keen to take advantage of engaged and sophisticated consumer
Korean beauty will continue its march on the global beauty industry in 2019 as more international and domestic brands flood the market.
According to Mintel. K-beauty exports have grown from $1bn to $2.64bn, with a South Korean per capita spend of $45, well ahead of UK and US consumers ($43 and $37 respectively).
Homegrown k-beauty brands are also now facing greater competition from global luxury players who have identified key opportunities in the region and are targeting consumers with new beauty launches.