Exports of K-beauty continue to increase.
According to an announcement by the Korea Health Industry Promotion Agency, exports of Korean cosmetics in the first half of 2023 amounted to $4.081 billion (about 5.4558 trillion won), up 0.6% from $4.057 billion in 2022.
| Rank | Nation | 1st half of 2022 | 1st half of 2023 | Ratio | growth rate |
| 1 | China | 1,888 | 1,416 | 34.7% | -25% |
| 2 | the United States | 445 | 537 | 13.2% | 20.7% |
| 3 | Japan | 411 | 393 | 9.6% | -4.4% |
| 4 | Hong Kong | 209 | 253 | 6.2% | 20.9% |
| 5 | Vietnam | 164 | 225 | 5.5% | 37.7% |
| 6 | Russia | 126 | 207 | 5.1% | 64.4% |
| 7 | Taiwan | 97 | 104 | 2.5% | 6.7% |
| 8 | Thailand | 76 | 99 | 2.4% | 29.2% |
| 9 | Singapore | 57 | 57 | 1.4% | 0% |
| 10 | Malaysia | 54 | 54 | 1.3% | -1.5% |
| Top 10 countries Total | 3,528 | 3,344 | 81.9% | -5.2% | |
| Total Exports | 4,057 | 4,081 | 100% | 0.6% |
Diversification of export regions
Although the scale of cosmetics exports to China has decreased, the total export amount has increased as exports to the United States, Hong Kong, and Vietnam have increased.
The export volume of ‘skincare cosmetic products’ in the first half of 2023 was $3.102 billion, an increase of 0.2% compared to $3.096 billion in the first half of last year. Exports of skin care cosmetic products decreased in China ($1.13 billion, -24.3%) and Japan ($220 million, -17.1%). However, the United States ($360 million, +20.1%), Hong Kong ($220 million, +21%), Vietnam ($180 million, +46.1%), and Russia ($170 million, +61.7 %), etc., showed a significant increase.
In addition to basic cosmetics, △ Color cosmetic products (USD 458 million → USD 518 million) △ Children’s products (USD 15 million → USD 19 million) △ Fragrance products (USD 7 million → USD 11 million) △ Body odor prevention products The export volume of products (from $2 million to $3 million) increased.
Exports of color cosmetic products were driven by Japan and the United States, which increased significantly by 42.1% and 68.6%, respectively. In addition, exports of children’s products surged by 4115.9% in the United States, and fragrance products showed an upward trend, mainly in China.
The export volume of hair products amounted to $166 million, a decrease of 9.8% compared to the same period last year. Body cleansing products (USD 144 million, -2.5%), eye makeup products (USD 103 million, -14.4%), and nail products (USD 12 million, -50%) showed a decline.