South Korea’s cosmetics industry reached a milestone in 2023, with exports hitting $10.2 billion as the country’s beauty brands outpaced French rivals in the key US market. The 20.6% jump in overseas sales signals a strong recovery from pandemic-era disruptions.
Korean companies captured 22.2% of US cosmetics imports through October, surpassing France’s share after focusing on anti-aging products tailored for diverse skin types. US imports of Korean beauty items reached $1.4 billion in the first 10 months, compared to $1 billion for French products.
The country’s beauty firms also strengthened their lead in Japan, where they held a 28.8% market share through September. Imports of Korean cosmetics in Japan hit 94.2 billion yen ($650 million), outpacing French brands at 82.3 billion yen ($568 million).
Industry officials note that success in Japan stems from vibrant makeup products targeting young consumers influenced by K-pop trends, while the US strategy centers on functional skincare. The export surge aligns with growing global interest in Korean cultural content and beauty standards.
Recent trade data shows Korean firms are adapting product development to match local preferences, with skincare leading US sales while makeup dominates in Japan.
