South Korea Cosmetics Packaging Market to Grow at a CAGR of 1.1% During 2024-2032, Aided by the Flourishing Cosmetics Industry and E-Commerce Platforms

South Korea ranks among the top ten global beauty markets, renowned for its innovative products, use of natural and high-quality ingredients, and attractive packaging. The South Korea cosmetics packaging market benefits from the high demand for cosmetics and skin care products in the country and high consumer purchasing power. In 2021, the value of cosmetics produced in South Korea returned to pre-pandemic levels, increasing by 9.8% to $14.5 billion. Additionally, cosmetics exports reached a record high, growing by 21.3% to $9.2 billion compared to the previous year.

Growing focus on reducing plastic waste generation and increasing research and development for producing eco-friendly cosmetic packaging are aiding the growth of the South Korean market. Several companies are taking initiatives to provide eco-friendly packaging materials and solutions to meet the rising consumer demand for sustainable products.

Further, high demand from e-commerce platforms for cosmetics products has fueled the market for cosmetics packaging. The companies ensure high-quality packaging is used to avoid spillage of the products in transit. According to the World Bank, over 97% of South Korean individuals have access to the internet. About 32.7% of total mobile subscriptions in South Korea use 5G technology, making up 24.53 million users as of August 2022. This is expected to further enhance the online sales of cosmetics products in the country, further driving the demand for cosmetics packaging for secure delivery of products.

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Market Breakup by Type, Material, Application, and Provinces:

• The market is segmented based on type into bottles, jars, tubes, containers, flexible plastics, and folding cartons, among others. 

• Based on material, the market can be divided into metal, glass, rigid plastic, paper-based, and flexible packaging. 

• By application, the market is classified into skin care, colour cosmetic, hair care, fragrances and perfumes, and oral care, among others. 

• By Provinces, North Chungcheong, South Chungcheong, Gangwon, Gyeonggi, North Gyeongsang, South Gyeongsang, North Jeolla, South Jeolla, and Jeju Special Self-Governing Province.

Key Findings of the Report:

• The robust growth of the beauty and cosmetics sector of South Korea is the primary factor driving the cosmetics packaging market growth. This is further supported by the growth of the e-commerce sector and increased online sales of cosmetic products. 

• The improved standards of living and high consumer disposable income in the region drive the demand for premium and luxury cosmetic products, which, in turn, supports the demand for sturdy and durable cosmetics packaging. 

• The increased demand for sustainable packaging solutions in South Korea, as a result of increasing environmental concerns and the need to reduce plastic waste generation, is accelerating R&D to produce eco-friendly packaging solutions.

Key Offerings of the Report:

• The EMR report gives an overview of the cosmetics packaging market in South Korea for the periods (2018-2023) and (2024-2032).

• The report also offers historical (2018-2023) and forecast (2024-2032) market information for the type, material, application, and provinces of the South Korea cosmetics packaging market.

• The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the South Korea cosmetics packaging market are APR Packaging Korea Inc., Cosmedique Co., Ltd., Korea Cosmetic. Packaging (KCP), Look To Go Co., Ltd (Sourcinglab), Yechan Co., Ltd., and Dong Bang Plastic, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

Key Highlights of the Report

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