South Korea’s make-up market to surge by 5.5% 

This will be driven by product innovation and rising online sales.

South Korea’s make-up market will likely surge by 5.5% through 2026, GlobalData reported. 

The market is projected to rise to US$2.5b by 2026, representing a 5.5% compound annual growth rate between 2021 and 2026.

This will be driven by the increasing public outdoor mobility, high product innovation, and growing online sales.

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“Spurred by Korean pop music, movie, and TV celebrity endorsements, and the availability of innovative Korean Beauty (K-Beauty) products, South Korean men are spending more on make-up products,” Suneera Joseph, Consumer Analyst at GlobalData, said.

“With the authorities easing the COVID-19 restrictions in 2022, consumers began leaving their homes more often for work, studies, leisure, socializing, shopping, and other activities, thereby giving rise to more occasions for applying make-up. Moreover, the increased penetration of online beauty retailers bolstered sales of cosmetics.”