Market Insights Consumer Beauty & Personal Care

Beauty Tech - South Korea

South Korea

In 2024, South Korea's Beauty Tech market is projected to generate a revenue of €0.50bn.
This market segment is expected to experience an annual growth rate of 4.73% (CAGR 2024-2029).
When compared globally, in the United States leads in revenue generation, with an estimated €1,308m in 2024.
Considering the population, South Korea's per person revenue in 2024 is approximately €9.57.
South Korea is at the forefront of Beauty Tech innovation, with a strong emphasis on skincare and advanced technologies such as AI and AR.

Key regions: Canada, Indonesia, India, United States, South Korea

Marché

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Comparaison de régions

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Methodology

Data coverage:

The data encompasses B2C enterprises. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations such as population, GDP per capita, and Human Development Index. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, multiple forecasting techniques based on different forecasting methods, such as Autoregressive Integrated Moving Average (ARIMA) and exponential trend smoothing, can provide the most accurate forecasts.

Additional notes:

The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level.