According to several studies, the volume of the Korean cosmetics market is estimated at around 8 billion CHF. South Korea is stated to be one of the ten most powerful markets in the cosmetics sector, setting trends for the industry globally. The market demonstrates a constant and stable growth due to innovations in product & technology R&D.
Why you should start selling your products in South Korea
Korea is one of the most important market players in the cosmetics industry worldwide, counting as one of the 10 largest global markets. A strong purchasing power, monthly expenditure on cosmetics per person exceeding the average of those in other countries, proves high appetites for imported products. Although Korea is a country where major cosmetic brands are present and is already considered to be a global trendsetter in the industry, import of cosmetics is steadily growing.
Korean consumers demonstrate different behaviors compared to those from other countries, as they use more cosmetics on average. It results from a meticulous skin care routine, which has already gained popularity worldwide.
Our report provides an overview of the market and insights on how to approach it
The report, which can be downloaded below, provides a general overview on the Korean cosmetics market focusing on current trends, requirements for product registration & import processes, various distribution channels including insights of local importers, success stories and practical guidelines on cooperation with local partners. Switzerland Global Enterprise (S-GE) and the Swiss Business Hub Korea (SBHK) hope to motivate Swiss cosmetics exporters to enter this market based on the findings and recommendations in this report.
Contents
- Key facts and numbers, main trends and consumer behaviors
- Business opportunities for Swiss cosmetic companies
- Registration & import process
- Offline & online distribution channels
- Practical tips and success stories
- Market entry strategy
