Report ID: UCMIG30L2160
Report ID:
UCMIG30L2160 |
Region:
Global |
Published Date: Upcoming |
Pages:
165
| Tables: 55 | Figures: 60
The global K-beauty products market had a total value of $91.99 billion in 2022 and is projected to exhibit a compound annual growth rate (CAGR) of 9.3% from 2023 to 2030. K-beauty items are celebrated for their commitment to using high-quality ingredients. Manufacturers of K-beauty products prioritize the incorporation of safe, effective, and frequently natural components, contributing to increased consumer adoption. The Korean cosmetics industry maintained its growth even during the COVID-19 pandemic, as consumers became more aware of the numerous advantages these products offer.
This report is being written to illustrate the market opportunity by region and by segments, indicating opportunity areas for the vendors to tap upon. To estimate the opportunity, it was very important to understand the current market scenario and the way it will grow in future.
Production and consumption patterns are being carefully compared to forecast the market. Other factors considered to forecast the market are the growth of the adjacent market, revenue growth of the key market vendors, scenario-based analysis, and market segment growth.
The market size was determined by estimating the market through a top-down and bottom-up approach, which was further validated with industry interviews. Considering the nature of the market we derived the Personal Products by segment aggregation, the contribution of the Personal Products in Household & Personal Products and vendor share.
To determine the growth of the market factors such as drivers, trends, restraints, and opportunities were identified, and the impact of these factors was analyzed to determine the market growth. To understand the market growth in detail, we have analyzed the year-on-year growth of the market. Also, historic growth rates were compared to determine growth patterns.
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Report ID: UCMIG30L2160