Market Insights Consumer Beauty & Personal Care Cosmetics

Lip Cosmetics - South Korea

South Korea

In South Korea, the revenue generated in the Lips market is estimated to reach €431.50m in 2024.
It is projected that the market will experience an annual growth rate of 2.64% (CAGR 2024-2029).
When comparing the revenue on a global scale, in the United States leads the way with €3,671m generated in 2024.
Taking into account the total population, per person revenues of €8.34 are anticipated in 2024.
The popularity of lip tints in South Korea continues to soar, with Korean consumers favoring long-lasting, vibrant colors.

Key regions: United Kingdom, United States, India, United Arab Emirates, Indonesia

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Methodology

Data coverage:

The data encompasses B2C enterprises. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations such as population, GDP per capita, and Human Development Index. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, multiple forecasting techniques based on different forecasting methods, such as Autoregressive Integrated Moving Average (ARIMA) and exponential trend smoothing, can provide the most accurate forecasts.

Additional notes:

The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level.