Growing Import Of Korean Cosmetics By China To Boost The Cosmetics Market

Published Date: Jun 2015

Last month 'The Korea Herald' reported that South Korean beauty products now have a strong presence in China. Industry experts eyeing the cosmetic market industry analysis indicate that the Korean wave and cut-throat competition in the cosmetic segment has helped the country rank –second in the fast –growing beauty sector. Statistics reveal that Korea has moved up by two notches when compared to the last year’s figures as China’s cosmetic import from Korea increased tremendously in the first quarter itself, while the import from Japan and France dropped by 10.3% as well as 37.2% respectively, during the same quarter.

Thanks to the effective sales strategy in China, the export of Korean beauty products has approximately doubled up to $ 582 million through January to March in 2015, which has remarkably improvised their proceeds. Recently Prof Research Reports has added a report titled "Cosmetic – Market". The report takes a closer look at the market share and size, demand and supply, value chain, cost /profit, opportunities, threats and manufacturing technology among several other factors of the cosmetic industry.

Korea’s major cosmetic brand AmorePacific Co., secured 320.7 billion in the operating profit through January to March 2015, a fifty percent increase from 2014, company’s regulatory filing revealed. Another smaller local competitor Kormar Co., climbed nearly 62.9% in 2015, far outgrowing the market expectations. Popular for their face mask sheets, LS Cosmetics Co., posted 17.5 billion gained in operating profit experiencing an over hundred times hike. A well – known researcher Na Eun-chae, at the famous Korea Investment & Securities said "Korean companies are showing stellar performance in the Chinese market based on the Korean Wave and competitive price ranges and brand lineups." Na Eun-chae explained. "The outlook for Korean cosmetic makers is positive in the mid- and long- term."

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