K-Beauty has entered 'Phase 3,' a new phase of structural growth in the global market. Moving beyond its past growth centered on China, the US, and Japan, export regions are now diversifying to include Europe, the Middle East, and Latin America, and distribution channels are also expanding from online to local offline stores.
In terms of product categories, beyond traditional basic skincare, expansion into derma, sun care, and hair & body care is securing new growth engines. Notably, in the US market, K-Beauty's penetration rate has reached 28.7%, and Morgan Stanley projects US market sales to exceed $4 billion this year.
These changes indicate that K-Beauty is no longer concentrated on specific trends or regions but has entered a popularization phase, deeply penetrating the daily lives of consumers worldwide. It is now time for brands to pursue sustained growth through localization strategies that reflect the characteristics and consumer needs of each market.