Key Market Indicators
Korean make-up sales are projected to hit $8.4 billion by 2026, up from $6.8 billion in 2021. This is an average annual growth rate of 2.2% since 1993. In 2021, Korea ranked 13th worldwide, behind Spain with $1.15 billion. The United States, Singapore and Germany ranked second, third and fourth respectively. Korean make-up exports are on track to reach $7.1 billion by 2026, up from $5.7 billion in 2021. This is an average annual growth rate of 3.8% since 1993. In 2021, Korea ranked fourth worldwide, behind Singapore with $5.7 billion. The United States, Singapore and South Korea ranked second, third and fourth respectively.
