The rise in demand for Korean skincare products in India

We are seeing a huge craze for Korean makeup and Skincare in India. So, why Korean skincare and beauty products are getting so much limelight? When did this trend started? What opportunities does it bring for consumers and brands? Aren’t you curious?
Let’s see what caused this change in India.

Korean skincare in Global Market

The rise in Korean skincare products is just not limited to India, it is a trend that is seen in various global countries. Consumers from all over the world are looking at Korean skin care products as their new skin care routine.
As per a survey that was conducted by Rakuten Insight in 2019, About 39% of the women said that their skincare consisted of 25% of Korean beauty products, About 3% of the women surveyed said their skincare consisted of all Korean beauty brands. There is a graphical presentation of the Stats in the following figure,

Share of Korean beauty products in skincare routine among Indian women in 2019

Korean Beauty products market share in the Global market for the year 2022-27:

The market share for K-beauty products in 2021 was US$10 Billion and it is expected to reach over US$ 14 Billion by 2027 with a Compound annual growth rate (CAGR) of 11.3% for the period 2021-27.

One of the reasons behind the interest in Korean products is that people believe Korean skincare products focused on the health and well-being of consumers. They are believed to be formulated with natural ingredients which are usually mentioned on the label on their packaging. And the affordable pricing and attractive design just made K-beauty products more irresistible.

With the increase in awareness about the benefits, social media influence and uniqueness of products among consumers made people prone to invest in K-beauty products. This is definitely a huge opportunity for expansion for the key players in the K-beauty Industry.

So let's discuss what made India so interested in Korean Skincare.

The origin of the huge demand is believed to be arising from the famous 10-step skincare routine. Just like Indians, Koreans love glowing and radiant skin but it just doesn't end there, Breaking the usual Indian skincare routine which usually consisted of cleansing, toning, and moisturizing, Korean skincare involves so many additional products to achieve our desired skincare goal. This desire for great-looking skin led to the invention of products like BB creams, CC creams, Sheet masks, pimple patches, serums, emulsions, ampoules, and so many other products.

source: Tonymoly UK

It is believed that there are a couple of factors that are not letting this trend die for a long time. Some of the factors are as follows:

• Love towards the Natural Ingredients:

  Because Indians share a huge attachment with their ayurvedic roots, the majority of Indians were always in LOVE with the use of natural ingredients in their skincare. Some of the ingredients which are really popular for pampering Indian skin are Turmeric, Honey, Lemon, Neem, Coconut, Milk, etc.
  Similarly, many Korean skincare products also rely hugely on natural ingredients, like Chia seeds, Bamboo, Avocado, Rice water, Tea Tree, Jeju Orange, Carrot, Ginseng, etc. If you see the common factor we see here is Natural Ingredients which caught the eye of Indian consumers.
  

• Social Media:

  To be precise, the Korean skincare wave hasn’t started recently.

It was always in the limelight even before it became a massive hit. Circa 2015-2016 had every blogger and vlogger showing off their 10-step-routine skills – and that’s where the boom occurred. Korean beauty brands took perfect advantage of this boom and took a chance to educate about Korean skincare. This made consumers’ tastes and preferences shift towards Korean Skincare, making them ditch other renowned brands all around the world. Social media was and are still playing a big role in increasing awareness and creating more Korean skincare fans.

• The classic Indian-Korean Connection:

  One of the common desires which both of these cultures share is their obsession with Physical appearance and also their huge attraction toward White complexion. Let’s be honest, thankfully this is changing – however, the notion of looking good naturally, rather than hiding under a veil of makeup to cover your flaws still prevails in both cultures.
  

• Korean Pop culture:

Source: Elite Asia

• Korean pop culture had been there for a long time, but it was in 2020/22 when it boomed. This had a long-lasting influence on Indian audiences. It is not restricted to Korean beauty products, but it led to rising in so many other segments such as Korean tourism, Korean fashion, Korean skincare, Korean makeup, Korean food and culture, and whatnot. All this combined made the Indian crowd really curious about Korea in general. Google Analytics also showed a huge rise in keywords that were related to S. Korea. People searched for things like Korean currency, Korea in general, Korean dramas and Korean movies, skincare, k-pop, Korean tourism, etc.

The bottom Line:

Korean Beauty brands are continuously growing in the Indian market, be it the influence created by Korean culture or the natural ingredients, or by social media. One thing we are sure about is that Korean skincare products are going to stay with us for even longer periods and continue to grow their share in our daily routines.

I am curious to see how Korean brands or Indian brands ride on this trend and capture the hearts of a bigger share of the audience.

by

Ankita Singh & Nidhi Agrawal