South Korea Cruelty Free Cosmetics Market Size To Grow At A CAGR Of 6.2% In The Forecast Period Of 2023-2028

Published April 25, 2023

The ‘South Korea Cruelty Free Cosmetics Market Growth, Size, Share, Price, Trends, Analysis, Report and Forecast 2023-2028’ by Expert Market Research gives an extensive outlook of the South Korea cruelty free cosmetics market, assessing the market on the basis of its segments like product types, price categories, and distribution channels.

The report studies the latest updates in the market, along with their impact across the market. It also analysis the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models.

South Korea Cruelty Free Cosmetics Market Share, Size, Trends, Industry Report, Key Player, Major Segments, and Forecast

The key highlights of the report include:

Market Overview (2018-2028)

• Historical Market Size (2022): USD 992.60 million
• Forecast CAGR (2023-2028): 6.2%
• Forecast Market Size (2028): USD 1436. 10 million

Increasing preference for vegan and animal cruelty-free products, due to the intensification of sentiments for animals, is propelling the demand for the cruelty free cosmetics market in South Korea. The global increase in emphasis on environment, health, and sustainability is playing a pivotal role in the market. The strong influence of cruelty free cosmetic brands among the population and increasing demand for sunscreens, masks, serums, and various types of skin and hair care products are further expanding the market opportunities.

Get a Free Sample Report with Table of Contents@

The increasing disposable income, fast-paced urbanisation, and increasing development of supermarkets/hypermarkets and departmental stores, is fuelling the South Korea cruelty free cosmetics market. The rising influence of western culture on young Koreans is further escalating the demand for cruelty free cosmetics.

High-quality vegan perfumes and fragrances are anticipated to witness a steady growth in the forecast period, owing to the increasing number of corporate workers and women working professionals. Further, innovations in packaging of clean-labelled cruelty free cosmetic products are attracting a greater number of customers, thereby, adding to the South Korea cruelty free cosmetics market growth.

South Korea Cruelty Free Cosmetics Industry Definition and Major Segments

Cruelty free cosmetics are defined as the type of cosmetics which have been developed in a process that did not include animal testing, while the products themselves may contain animal-based ingredients. Alternatives to animal testing such as computer modelling, and vitro lab tests are used to ensure safety and appearance of the products.

Read Full Report with Table of Contents@

Based on product type, the market is segmented into:

• Skincare
• Haircare
• Makeup and Colour Cosmetics
• Perfume and Fragrances
• Others

By price category, the market is bifurcated into:

• Premium
• Economic

On the basis of distribution channels, the market is divided into:

• Hypermarkets/ Supermarkets
• Departmental Stores
• Specialty Stores
• Online
• Others

South Korea Cruelty Free Cosmetics Market Trends

The key trends in the South Korea cruelty free cosmetics market include the growing research and development activities by major cosmetic manufacturing companies aimed towards improving product formulations, enhancing fragrances, and reducing toxicity. The favourable policies of the government aimed towards decreasing animal cruelty are crucial trends in the cruelty free cosmetics market of South Korea. The Korean National Assembly passed a bill under the regulation of which, testing cosmetic products on animal came to an end in the year 2018.

The increasing brand endorsements and celebrity influence is leading to enhanced promotion of cruelty free cosmetics on social media and audio/video platforms. Rising usage of social media platforms such as Instagram, TikTok, and Facebook, among others are expanding the scope of advertising. The thriving e-commerce sector is further escalating the accessibility of cruelty free cosmetics leading to a greater sale of the products. Premium packaged cruelty free cosmetics with innovative packaging and attractive discounts are likely to witness a heightened sale in the forecast period. Moreover, the increasing purchasing power of the population is anticipated to fuel the South Korea cruelty free cosmetics market in the coming years.

Key Market Players

The major players in the South Korea cruelty free cosmetics market report are

  • Lab&Company Co., Ltd. (I’m From)
  • Dear, Klairs.
  • TONYMOLY Co., Ltd.
  • Krave Beauty, LLC
  • Peach and Lily, Inc.
  • Then I Met You, LLC.
  • ISNTREE Inc.
  • COSRX Inc.
  • HiNature Co., Ltd. (PURITO)
  • Sweet Chef
  • Others

The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.

Read More Reports:-

Plant Protein Market-

Floating Solar Panels Market-

Marine Collagen Market-

Satellite Bus Market-

About Us:

Expert Market Research (EMR) is leading market research company with clients across the globe. Through comprehensive data collection and skilful analysis and interpretation of data, the company offers its clients extensive, latest and actionable market intelligence which enables them to make informed and intelligent decisions and strengthen their position in the market. The clientele ranges from Fortune 1000 companies to small and medium scale enterprises.

EMR customises syndicated reports according to clients’ requirements and expectations. The company is active across over 15 prominent industry domains, including food and beverages, chemicals and materials, technology and media, consumer goods, packaging, agriculture, and pharmaceuticals, among others.

Over 3000 EMR consultants and more than 100 analysts work very hard to ensure that clients get only the most updated, relevant, accurate and actionable industry intelligence so that they may formulate informed, effective and intelligent business strategies and ensure their leadership in the market.

Media Contact

Company Name: Claight Corporation
Contact Person: Ana John, Business Consultant
Toll Free Number: US +1-415-325-5166 | UK +44-702-402-5790
Address: 30 North Gould Street, Sheridan, WY 82801, USA