One of the most profitable markets for the cosmetics and perfumery sector is emerging in Asia. There South Korea, with over 52 million inhabitants, has in fact established itself among the top ten global beauty markets, thanks to huge per capita spending, from which the producers of glass for packaging.
A promising prospect
The winning elements of the South Korean cosmetics sector are certainly the attention to ingredients, attractive packaging and the mentality devoted to innovation.
After the notable decline caused by the advent of Covid, the trade balance and exports of the Korean cosmetics sector recorded a stable increase of 14 and 16% respectively.
And this growth momentum will be maintained throughout the next decade, thanks to an expanding clientele, due to the increase in the female population and the number of men who use the sector's products.
A smart and aware country
Furthermore, it should not be ignored that South Korea is home to renowned cosmetic brands, capable of extending their list of buyers on an international scale. A growth trajectory also stimulated by the rise of online marketing, in the country that boasts the highest smartphone ownership rate in the world.
But it is also the concern about the secondary damage of climate change, at a dermatological level, that brings South Koreans closer to cosmetics and the products of the sector.
The charm of K-Beauty
The popularity of the South Korean cosmetics sector is a direct consequence of the overwhelming propagation of the country's mass culture. There K-wave, a term coined to describe the dizzying international success of K-Pop and K-Dramas (i.e. commercial music and South Korean TV series), has played in favor of companies involved in the supply chain K-Beauty, triggering a radical shift of the center of gravity towards the East fashion and aesthetic canons.
This dynamic has opened the doors of the European and North American markets, as well as favored the increase in demand for cosmetic products from male customers.
Glass thanks cosmetics
The growth data in the cosmetics and perfumery sector have driven and will continue to drive the demand for glass for packaging. In fact, Korean beauty experts predict a progressive increase in demand for hydrating, whitening and anti-aging products. But also of personalized products, calibrated to the skin conditions and lifestyle habits of consumers, thanks to the progressive development of 3D bio-printing technologies.
For the packaging of these items, the material preferred by customers is rightly glass; perceived as the green solution, safe and recyclable par excellence.
Source: Glass Machinery Plants & Accessories
