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K-beauty Products market to Reach $13.9 Bn, Globally, by 2027 at 9.0%
PORTLAND, PORTLAND, UNITED STATES, February 8, 2022 /EINPresswire.com / -- K-beauty products refer as skincare routines and the product that imports from the South Korea. Products generally focuses on skin aesthetics such as health, hydration, and luminous textured skin and glowing. It is made of various natural ingredients that is healthy for skin. K-beauty skincare routine and cosmetics products are expanding domestically as well as internationally. These products emphasize greatly on wellness and health. The products are manufactured using natural ingredients that are labeled clearly on their packaging. K-beauty focuses majorly on skincare while simultaneously ensuring that their products are cool and affordable. The Korean beauty brands are continuously expanding to embrace new innovations, especially in terms of their raw materials. The use of snail slime, bee venom, starfish extract, pig collagen, and morphing masks are some of the unique ingredients being used to produce K-beauty products. The K-beauty industry is becoming an increasingly lucrative business for cosmetic companies owing to its high product margin, thereby making it further profitable for beauty companies. There is a huge consumption of these product among women. But due to COVID-19 pandemic higher demand and lower supply of K-Beauty product has created product shortage in the market. Moreover, halt in the production of K-beauty and its processing due to lockdown and social distancing being practiced all around the world have adversely affected the growth of this industry.
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With the spread of COVID-19 viruses from China most of the countries such as South Korea, Japan saw huge number of cases in initial phase. Thus, the outbreak has a lasting impact on the beauty market worldwide. It has been seen that one of the biggest changes among the consumers is the perception of safety, hygiene and health. During COVID-19 crises, cultivating good hygiene habit became a priority for everyone and will stick with consumers in a long run. Moreover, k-beauty products will have huge demand in coming years.
K-beauty products are very high-quality as well as affordable at the same time. Products are formulated to nourish the skin from the inside out, all the way down to its deepest layers. It is also protecting and hydrating the skin as well as maintains health to produce a glowing, radiant complexion and long-lasting results over time. In addition, products are constantly launching on skincare routines that is based on the latest trends rather than tried and true classics. K-beauty products avoids drying, harsh, or chemical ingredients instead it includes natural facial oils, fruit acids, and botanical extracts that nourish the skin. In addition, it is made with the highest quality active ingredients available such as snail mucin and bee venom that helps in nourishing skin. Furthermore, products are also incorporating with the latest technology and innovation. Manufacturers in this market have various opportunities to develop more innovative products considering skin health. The major players in the global K-beauty products industry includes 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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Author:
Shikha Verma
Secondary Research Associate
Food and Beverage Domain
Allied Market Research
David Correa
Allied Analytics LLP
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