in-cosmetics Korea returns from 26 to 28 June to celebrate the very best K-Beauty has to offer now and in the future. A series of exclusive activities and showcase features, at the only dedicated event in Korea for personal care ingredients, will explore the incredible innovation from the country, offering beauty manufacturers the chance to learn more about this exciting market.
Demonstrating the best of Korea
With over 7 000 cosmetic manufacturers expected to join the event over three days, in-cosmetics Korea’s new K-Beauty Inspiration Zone will provide information on the future trends affecting the Korean market and the novel products that are driving the cosmetics revolution led by forward-thinking Korean brands.
Curated to help Korean, Chinese, Japanese and international visitors better understand K-Beauty and the opportunities it presents, three unique zones – run in partnership with Mintel and supported by The K-Beauty Science – will unearth the best-selling products and hottest items launched in the first quarter of 2019. The Zone will also demonstrate how Korean-inspired beauty products have been embraced around the world and explore the future of K-Beauty in a series of daily presentations in PechaKucha-format focusing on future trends.
Growth despite challenges
The Korean beauty sector has enjoyed an annual growth rate of 22.5 percent over the past five years , with an estimated value of over $13.1 billion in sales in 2018 . However, its growth has not been without challenges from competing sectors within the region. J-Beauty, which was once a cosmetics champion, is now re-emerging, while C-Beauty is performing well, boosted by domestic demands for Chinese brands. Despite the growing competition, K-Beauty has returned to its previous upward trajectory, fuelled by a focus on innovation, new product launches and market diversification with expansion to the US market.
As a result, K-beauty has retained its status as a trendsetter, achieving cult status among the international beauty industry – thanks to its incredibly fast-paced innovation, focus on high quality, rigorous safety standards, exotic ingredients, and premium, yet playful products at an affordable price. From contemporary skincare staples to BB creams and electronic gadgets enabling consumers to recreate the spa experience at home, Korean cosmetic innovations continue to lead where other brands follow – which explains why so many major brands, such as L’Oréal and Avon, have announced Korean collections.
For the first time at in-cosmetics Korea, The K-beauty Science, specialist research consultancy and media partner for the new K-Beauty Inspiration Zone, will reveal the country’s top 10 bestselling items, along with 10 of the hottest products to be launched in 2019. Mintel experts will be on hand to provide further insights on products snapped up by consumers, giving international visitors a taste of local trends, while The K-Beauty Science team will focus more on the hottest products making waves within the industry.
Complementing the showcase of finished products, Mintel will also outline exclusive insights into K-beauty successes around the world. The consultancy’s experts will demonstrate how Korean brands have broken into international markets and reflect on the growing trend for Korean-themed collections across Europe, the US, China, Japan and other areas of Asia, providing manufacturers with novel ideas and inspiration for future launches.
Finally, Mintel will also explore the future trends in K-beauty. In the last decade, the movement has successfully cracked and dominated the international beauty market, winning consumers’ hearts with its rapid innovation, wealth of product offerings and stand-out packaging designs. The fast-paced growth has led to growing competition from the J-Beauty and C-Beauty markets, as they look to gain valuable market share. Helping manufacturers understand how to stand out amid a growingly competitive market, Mintel will run sessions in PechaKucha-style presentations – showing 20 slides for 20 seconds each – to highlight the latest trends, ingredients and product areas to inspire the next generation of cosmetic products, underpinned by its latest research.
Sarah Gibson, exhibition director, in-cosmetics Korea, comments: ‘Korea remains one of the most exciting countries for cosmetics innovation, and it’s no surprise to see so many major and indie brands creating collections inspired by the region. This year, the K-Beauty Inspiration Zone will ensure visitors from within the region and beyond leave feeling inspired and more knowledgeable about the opportunities presented by this exciting industry. We’re delighted to be working with Mintel and The K-Beauty Science to deliver the new K-Beauty area that will provide an abundance of exclusive insights and information.’