Korea isn\’t about cinematography and K-Pop culture anymore; cosmetics have also become part of Korean culture. Its beauty products are there at the forefront on a global level. And since beauty has been an integral part of Indian women\’s life for ages, Indians too have embraced Korean influence.
Hallyu or the Korean wave has started to make its way into the beauty regime of most Indian women. You already must have purchased at least one Korean beauty product by now (if you are a woman) and maybe not know about it. No doubt, it is already the 8th largest cosmetic market and is making its mark. And with the advanced beauty market of Korea slowly tapping into India, it is increasing its footprints.
Korean beauty products have become a synonym for flawless skin. The primary principle of K-beauty lies around preventive care than reactive care, and this is one of the fundamental reasons why the K-beauty wave has taken the Indian beauty industry by storm. Other dominating positions of Korean beauty products are as follow:
– Natural Ingredients: The Korean skincare resonates with Indian skincare. Indian skincare revolves around natural Ayurvedic ingredients. The Korean beauty products are on the same grounds. The usage of unique products (uncommon in India) and packaging gives them an edge.
– Social Media: Social Media plays a vital role in K-beauty\’s conquering the global beauty market, including India. Be it influencers or BTS; it has increased their reach. Since teenagers are inspired by what they see on social media, Korean beauty products are not left behind.
– Collaboration: India and the Korean government are working to strengthen the policies to collaborate. This is building a solid foundation and allowing Korean retail brands to penetrate the Indian market.
Nykaa, India\’s leading ecommerce beauty, and personal care products generated 949 products when searched for \”Korean beauty products,\” proving that Korean beauty is here to make its mark. And given everything is being digital-driven due to pandemics, it is accelerating the process of K-beauty presence.
The K-beauty products market was assessed at $10.3 billion in 2021, and it is expected that the market will be $20.8 billion by 2026, which is a CAGR of 11.3%. With phenomenal growth, it is expected to reach this mark.