United States K-beauty Products Market Forecast 2022-2028

United States K-beauty Products Market Forecast 2022-2028

KEY FINDINGS

The United States K-beauty products market is anticipated to develop with a CAGR of 10.68% during the projected period. Key factors like the growing influence of Korean beauty products through social media platforms such as Instagram and Facebook, the increasing awareness regarding the potential of toxicity in cosmetics, and the prevalence of special sales, as well as unique products, play a vital role in fueling the country’s market growth. The base year considered for the market study is 2021 and the forecast years are from 2022 to 2028.

MARKET INSIGHTS

Consumers are becoming increasingly wary about the increased likelihood of toxicity in cosmetics. As a result, market segments providing fragrance-free products manufactured through natural ingredients and essential oils are anticipated to witness robust growth over the coming years. As per a survey on the global popularity of K-beauty products, approximately 29.4% of the respondents in the United States believed that K-beauty is highly popular in their nation, accredited to the natural ingredients it is formulated with.

However, the COVID-19 pandemic ceased the years of moderate growth in the United States beauty and personal care sector, leading to declines for the first time since 2009. Although the industry was expectant in Q1 2020, the sharp deteriorations in Q2 and Q3 significantly impacted the overall performance in 2020, thereby demonstrating major losses for numerous players. Hence, these factors are predicted to influence the K-beauty market growth in the United States during the forecasting years.

COMPETITIVE INSIGHTS

Some of the leading companies operating in the market are Annie’s Way International Co Ltd, Cala Products, BNH Cosmetics LLC, etc.

Our report offerings include:
• Explore key findings of the overall market
• Strategic breakdown of market dynamics (Drivers, Restraints, Opportunities, Challenges)
• Market forecasts for a minimum of 9 years, along with 3 years of historical data for all segments, sub-segments, and regions
• Market Segmentation cater to a thorough assessment of key segments with their market estimations
• Geographical Analysis: Assessments of the mentioned regions and country-level segments with their market share
• Key analytics: Porter’s Five Forces Analysis, Vendor Landscape, Opportunity Matrix, Key Buying Criteria, etc.
• Competitive landscape is the theoretical explanation of the key companies based on factors, market share, etc.
• Company profiling: A detailed company overview, product/services offered, SCOT analysis, and recent strategic developments