The import of perfumes and toilet waters to South Korea stood at 213.17 million USD in 2023. In 2024, it is forecasted to reach 220.28 million USD, reflecting a year-on-year increase of approximately 3.3%. The following years show consistent growth: 227.65 million USD in 2025 (+3.3%), 234.87 million USD in 2026 (+3.2%), 241.94 million USD in 2027 (+3.0%), and 248.88 million USD in 2028 (+2.9%). Over the forecast period from 2024 to 2028, the average compound annual growth rate (CAGR) is estimated at around 3.1%.
Future trends to watch for include:
- The impact of evolving consumer preferences towards luxury and niche fragrances.
- Regulatory changes influencing the import duties or restrictions on perfumes and toilet waters.
- The effect of global economic conditions on consumer spending power in South Korea.
- Technological advancements in e-commerce platforms potentially boosting the import market.