In South Korea, the Lip Make-Up Preparations Market began at 138.25 million USD in 2012, showing a steady annual growth until 2016 where growth peaked at an impressive 38.1% year-on-year. After 2016, the market experienced slower, yet still positive growth, recording a small dip in 2019 with a -4.88% variation. Despite fluctuations from 2019 to 2020, the market showed resilience with a 2.28% growth. The compound annual growth rate (CAGR) over five years decreased significantly from 21.66% in 2016 to 2.79% by 2022. As of 2023, the market stood robustly, showing consistent value.
For future trends:
- Watch for consumer preferences shifting towards sustainable and eco-friendly products.
- Innovative product launches and evolving fashion trends will continue to influence market dynamics.
- Impact of economic conditions and disposable income on purchasing behaviors.
- Potential growth in online retail channels as digital transformation progresses.
How does South Korea rank in Lip Make-Up Preparations Market Size Value?
| # | 42 Countries | US Dollars | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 United States | 7,707,300,000 | 2023 | +3.25% | +4.53% | View data |
| 2 | 2 France | 1,564,800,000 | 2023 | +3.54% | +3.84% | View data |
| 3 | 3 United Kingdom | 1,278,700,000 | 2023 | +1.8% | +2.55% | View data |
| 4 | 4 Germany | 919,270,000 | 2023 | +2.33% | +1.9% | View data |
| 5 | 5 Canada | 855,050,000 | 2023 | +2.72% | +3.39% | View data |
| 6 | 6 South Korea | 462,980,000 | 2023 | +3.8% | +2.9% | |
| 7 | 7 Australia | 450,670,000 | 2023 | +2.81% | +2.65% | View data |
| 8 | 8 Mexico | 220,350,000 | 2023 | +1.68% | +1.96% | View data |