The ‘South Korea Cosmetics Packaging Market Growth, Size, Share, Price, Trends, Report and Forecast 2023-2028’ by Expert Market Research gives an extensive outlook of the South Korea cosmetics packaging market, assessing the market on the basis of its segments like type, material, application, and province.
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 Cosmetics Packaging Market Size, Share, Trends, Industry Report, Key Player, Major Segments, and Forecast
The key highlights of the report include:
Market Overview (2018-2028)
• Forecast CAGR (2023-2028): 1.1%
The thriving beauty and personal care sector in South Korea is driving the growth of the cosmetics packaging market. South Korea is one of the largest beauty markets across the world, which is further gaining momentum with attractive packaging and clear ingredients. The increasing demand for high-quality cosmetic packaging materials and components to maintain the standards of the product is driving the growth of South Korea cosmetics packaging market.
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Growing number of corporate workers, increasing per capita income, robust urban development, and increasing skincare consciousness, are fuelling the demand for cosmetics, leading to a heightened growth of the cosmetics packaging market. The ageing population in South Korea is leading to a greater use of high-quality anti-ageing, anti-wrinkle, whitening, and anti-pollution cosmetic products. These products require efficient handling which is fulfilled by cosmetics packaging. Meanwhile, the increasing accessibility of cosmetics, owing to the rapid development of retail stores and commercial shopping complexes, is adding to the market growth.
The increasing presence of users on social media platforms is impacting the South Korea cosmetics packaging market positively. The growing influence of western culture is invigorating the fashion and entertainment sector which in turn is revolutionising skin-care routines followed by consumers. Over the forecast period, the colour cosmetics and fragrance and perfumes applications of cosmetics packaging are anticipated to witness a great demand, which in turn are likely to provide impetus to the South Korea cosmetics packaging market.
South Korea Cosmetics Packaging Industry Definition and Major Segments
Cosmetics packaging is defined as the wrapping and protection of cosmetic goods or products to prevent exposure to hazards during transporting and handling. Cosmetics packaging also aims at enhancing the aesthetic appeal of the product by using strong, durable, and colourful packaging materials. Cosmetics packaging contains logos and all the necessary information about the product ingredients.
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Based on type, the market is segmented into:
• Flexible Plastics
• Folding Cartons
By material, the market is categorised into:
• Rigid Plastic
• Flexible Packaging
On the basis of application, the market is divided into:
• Skin Care
• Colour Cosmetic
• Hair Care
• Fragrances and Perfumes
• Oral Care
Based on provinces, the market is categorised into:
• North Chungcheong
• South Chungcheong
• North Gyeongsang
• South Gyeongsang
• North Jeolla
• South Jeolla
• Jeju Special Self-Governing Province
South Korea Cosmetics Packaging Market Trends
The key trends in the South Korea cosmetics packaging market include the increasing sale of cosmetics through the online platforms which can be attributed to the increasing traffic on e-commerce website. Moreover, the increasing adoption of smartphones and other electronic gadgets, coupled with availability of high-speed internet in the nation, is increasing the accessibility of cosmetics. The increasing number of women joining the workforce is generating a higher interest in cosmetics while enabling them to spend more on beauty products.
The increasing investments by leading cosmetics manufacturers to accelerate brand building is offering opportunities to the cosmetics packaging market. In addition, cosmetics packaging can promote brand recall, decrease overall packaging costs, and bolster brand building by increasing the prominence of the company’s logo.
Growing research and innovations by cosmetic manufacturers in the country, aimed towards producing aesthetically appealing premium packaged cosmetic products are crucial trends in the South Korea cosmetics packaging market. However, stringent government regulations against plastic packaging may pose as a restraint to market growth, which is being countered by efforts made to alternative produce packaging solutions to plastics.
Key Market Players
The major players in the South Korea cosmetics packaging market report are
• APR Packaging Korea Inc.
• Cosmedique Co., Ltd.
• Korea Cosmetic. Packaging (KCP)
• Look To Go Co., Ltd (Sourcinglab)
• Yechan Co., Ltd.
• Dong Bang Plastic
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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