Forecast: Export of Hair Preparations from South Korea

The export of hair preparations from South Korea has seen a consistent upward trend from 2013 to 2023, reaching a value of $323.86 million in 2023. The period from 2013 to 2016 experienced robust growth with year-on-year variations consistently above 25%. However, the growth rate started to decelerate post-2017, averaging around 5% annually in recent years. The Compound Annual Growth Rate (CAGR) over the last 5 years was 4.92%, indicating a maturing market.

Forecasts from 2024 to 2028 show continued growth, albeit at a slower pace, with a 5-year CAGR of 2.98%. This leads to an overall forecasted growth rate of 15.82% over the next five years, suggesting steady, incremental increases in export value.

Future trends to watch for:

• Increasing demand for premium and organic hair products.
• Technological advancements in hair care formulations.
• Expansion into emerging markets with rising disposable incomes.
• Impact of economic and trade policies on export capabilities.