Seoul's Beauty & Fashion Industry at a glance
P.I.C.K M.E U.P
- P Platformazation
- I Individualism
- C Clean beauty
- K K-clinic
- M Medical treatment
- E Early-care
- U Ubiquitous
- P PostCovid-19
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Inner Beauty
South Korean market growth rate
2019 721.6 bn KRW
2025 1.9 tn KRW
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Derma cosmetics
Domestic market size between '19-'21
OliveYoung 'Derma cosmetics' sales growth rate
260%
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Beauty devices
South Korean beauty devices market sales growth rate
2020 170 mn USD
2022 350 mn USD
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Beauty & Fashion platform
Beauty & Fashion platform usage
1 in 5 South Koreans
Top 5 enterprises, making 21% of the entire sales, are based in Seoul
21% of the entire sales/p>
Key trends - Wider use of Fashion and Beauty tech platforms that offer individual recommendations through individual analyses
- Growth of interest in skin trouble recovery, efficient skin restoration, and trustworthy ingredients. Increase in demand for high-performance and trustworthy products like 'derma cosmetics'
- 'Inner Beauty' that can generate synergy with anti-ageing and healthy lifestyle, increase in demand for health supplements (health functional food)
- Beauty devices that saw rapid growth since the pandemic due to benefits like no time-and-space restrictions