Korean women use more than thirteen beauty products per day!
According to some reports recently published in several media, women are not the only ones to use cosmetics in South Korea. Men are also a target for cosmetics brands. By using on average 13.4 cosmetics daily, and this from their teens, South Korean women hold the absolute record! But men also have cosmetic lines specially targeted “for men” (lightening creams, to achieve the much desired porcelain complexion!) and sales are on the up and up!
Third growth segment in this country “like no other” – where beauty is a real social benchmark – products related to “well being”, i.e. natural and organic products or products containing plant, clay and algae extracts for example.
Meanwhile, at MakeUp in Seoul, which will take place on April, 6th and 7th at the Conrad Hotel with 20% more exhibitors, the number of visitors is also expected to be on the rise.
With sales exceeding € 6.6 billion, Korea is the third largest market in Asia and ranks 12th in the world. This ever increasing demand for cosmetics has obviously to do with the cult of Beauty very present in the Korean society. The sector where demand is the highest is the one of so called “functional” cosmetics, targeting anti-ageing, brightening or sunscreen products.
Having a beautiful flawless skin is an obsession for Korean women who are known to have daily beauty rituals among the most complex and most sophisticated in the world, with as many as 26 daily steps (cleansing, peeling, toning, hydrating oil, essence, foundation, CC Cream, BB Cream, eye shadow, lip gloss etc.). It is also the country where men spend the most on skincare products. They purchase, alone, every year the equivalent of € 500 million of beauty products, i.e., a fifth of the world’s production.
This craze for Korean cosmetics does not just concern Korean people, it has also spread across the whole Asian continent, especially China.
Asia …. 80% of global sales by 2019!
Asian cosmetics continue to gain ground on the world market. According to a survey from Euromonitor International, by 2019, 80% of the global turnover of the cosmetics industry will come from Asia, and China will represent 75% of this growth in the region.
The influence of Japan in the global cosmetic and personal care market is also considerable. The country is the second largest cosmetic market in the world after the United States.
Asia is now at the forefront of innovation in this sector.
To know more visit MakeUp in Seoul, which will take place on April, 6th and 7th at the Conrad Hotel : www.makeup-in-seoul.com