12.02.24
A new report from Euromonitor International shows a surge in sales of Korean beauty products, naming the trend the ‘Korean-wave, aka 'K-Wave.'
Sunny Moon, Research Manager at Euromonitor International, said,
"Beyond watching Korean content and traveling to Korea, consumers also incorporate K-products into their daily lives. However, they eventually prefer local products that align with local preference."
With the K-Wave, brands are embracing Korean products, particularly in the food, drinks, and beauty industries.
According to the 'K-Wave in Southeast Asia: Impact and strategies' webinar, Singaporeans saw a significant 52% growth in outbound travel to South Korea in 2024 compared to 2019.
Visitors from Indonesia (10%) and Taiwan (13%) have traveled increasingly to South Korea, driven by strong outbound travel recovery.
Moon noted,
"To meet growing consumer demand, brands are embracing the K-wave by appointing K-pop stars as brand ambassadors, even featuring Hangeul, the Korean alphabet, on product labels."
Most recently, Estée Lauder appointed IU as its first Korean Global Brand Ambassador to follow this growing trend. Another ELC brand, Dr.Jart+ partnered with K-Pop band, Enhypen, as its first global ambassador.
See Euromonitor International’s full report on their website.
K-Beauty Saw Growth in 2022-2023
Lovb Lovb Cosmetics Brand Gains Traction in the K-Beauty Market
Sunny Moon, Research Manager at Euromonitor International, said,
"Beyond watching Korean content and traveling to Korea, consumers also incorporate K-products into their daily lives. However, they eventually prefer local products that align with local preference."
With the K-Wave, brands are embracing Korean products, particularly in the food, drinks, and beauty industries.
According to the 'K-Wave in Southeast Asia: Impact and strategies' webinar, Singaporeans saw a significant 52% growth in outbound travel to South Korea in 2024 compared to 2019.
Visitors from Indonesia (10%) and Taiwan (13%) have traveled increasingly to South Korea, driven by strong outbound travel recovery.
Moon noted,
"To meet growing consumer demand, brands are embracing the K-wave by appointing K-pop stars as brand ambassadors, even featuring Hangeul, the Korean alphabet, on product labels."
Most recently, Estée Lauder appointed IU as its first Korean Global Brand Ambassador to follow this growing trend. Another ELC brand, Dr.Jart+ partnered with K-Pop band, Enhypen, as its first global ambassador.
See Euromonitor International’s full report on their website.
Read Next
New Report Shows the Continued Popularity in K-BeautyK-Beauty Saw Growth in 2022-2023
Lovb Lovb Cosmetics Brand Gains Traction in the K-Beauty Market
