k-beauty products market was assessed at $ 10.3 billion in 2021 and is anticipated to reach over $ 20.8 billion by 2026, developing with a CAGR of 11.3% between 2021 and 2026.

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Market Drivers and Restrains:

Korean beauty brands are capitalizing on their digital and e-commerce prowess in response to rapidly increasing demand from overseas markets. Online retailers such as Sokoglam and Peach & Lily have imported a variety of Korean skincare brands into the United States and expanded the market internationally. In addition, global beauty retailers are creating a dedicated section on their web pages, which is aimed at Korean skincare brands. This helps increase consumer awareness and is therefore a major driver of the K beauty product market. Additionally, the K beauty phenomenon has caught the attention of Western influencers, social media bloggers and journalists. This was seen as an ingenious digital strategy applied by K-beauty brands to increase their popularity. However, the rise of veganism among consumers around the world is expected to limit the growth of the K cosmetics market. Consumers are becoming increasingly aware of sustainability, environmental impacts and animal welfare. The K-beauty industry uses animal extracts. This hinders the growth of the market.

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Report is segmented as:

The K Beauty Products Market is segmented based on product type, end user and distribution channel. By product type it is segmented into sheet masks, cleansers, moisturizers, makeup and others. By End users it is segmented into male and female. By distribution channel it is segmented into online retail, supermarket/hypermarket and specialty/monobrand stores.

Geographical Segmentation:

Asia-Pacific held the largest market share in the K beauty product market region segment, as the largest consumers of K beauty products are Asian countries such as China, India, Hong Kong and South Korea. Additionally, the Asia Pacific region is expected to maintain its dominance in the regional segment during the forecast period due to population growth and increased purchasing power.

Impact of COVID-19 on Global K Beauty Products:

COVID-19 is an infectious disease that originated in the Hubei province of Wuhan city in China in late December 2020. Manufacturers of K-Beauty products change their preferences to produce hand sanitizers, cleaning agents and products for personal care, which have gained in importance demand during this pandemic. Countries around the world have imposed closures and curfews, which have had a dramatic impact on lifestyles, health and well-being and have affected manufacturing industries.

Key market players:

The major players in the global K-beauty products industry analyzed in this report include ABLE C&C CO., Ltd., Adwin Korea Corp, Annie's Way International Co., Ltd., The Beauty Factory, Ltd., Bluehug, Inc., BNH Cosmetics, Ceragem Health and Beauty Co, Ltd., CK Beauty Enterprise Inc., LG Household & Health Care, and AMOREPACIFIC CORPORATION.

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