South Korea has overtaken the United States to become the world's second-largest cosmetics exporter. As K-beauty expands its influence across global markets including the US, Europe and the Middle East, it is also gaining traction in France — long regarded as the home of the beauty industry — where annual exports topped $100 million for the first time.
According to the Ministry of Food and Drug Safety and the Korea Customs Service on Tuesday, Korea's cosmetics exports last year rose 11.8% from a year earlier to $11.4 billion. It marked the highest annual figure on record and the first time exports surpassed $11 billion. Imports during the same period fell to $1.29 billion, pushing the cosmetics trade surplus to $10.1 billion — also the first time the surplus exceeded $10 billion.
On the back of this growth, Korea ranked second in global cosmetics exports last year, trailing only France and surpassing the US. France led with $24.3 billion, followed by Korea at $11.4 billion and the US at $10.8 billion.
Growth in the French market was particularly notable. Korea's cosmetics exports to France reached $134.05 million last year, up 71.5% from a year earlier. Exports to France grew nearly threefold from $48.12 million in 2020 over four years, surpassing $100 million for the first time. France is home to global beauty giants such as L'Oréal, LVMH Beauty, Sisley and Clarins, and given the country's strong preference for domestic brands, the spread of K-beauty itself is seen as symbolic.
Local distribution networks are also expanding rapidly. The flagship Galeries Lafayette Haussmann store in Paris has set up a dedicated K-beauty zone, with Korean brands such as COSRX, Dr. Jart+, TORRIDEN, Beauty of Joseon and Banila Co entering one after another. Amuse, a makeup brand under Shinsegae International, opened official stores at the Galeries Lafayette Haussmann flagship and the Champs-Élysées branch, while APR's Medicube is accelerating its push into Europe by expanding its presence across Sephora's online and offline channels.
Analysts say the steep growth is underpinned by the competitiveness of skincare products. Basic cosmetics exports last year totaled $8.53 billion, accounting for 74.7% of total cosmetics exports. Color cosmetics exports came to $1.51 billion, or 13.2%. Rising demand for low-irritation and functional products, combined with the distinctive ingredient competitiveness and rapid product development capabilities of Korean cosmetics, is resonating with overseas consumers.
The largest export destination has also shifted from China to the US. Exports to the US reached $2.2 billion last year, accounting for 19.1% of the total and making it the top export market. Exports to China, by contrast, fell 19% from a year earlier to $2 billion. Korean brands are expanding their share through major local distribution channels such as Amazon, Sephora and Ulta Beauty, while viral effects on social networking services such as TikTok and Instagram are accelerating brand recognition in the US.
Export markets are also diversifying. Korea exported cosmetics to 202 countries last year, 30 more than the previous year. Exports to Poland surged 115% from a year earlier, and exports to the UAE rose more than 70%, signaling a rapid expansion of K-beauty's footprint across European and Middle Eastern markets.
Industry observers say K-beauty is showing strong export performance as it moves beyond its past image as "value-for-money cosmetics" and gains recognition for brand competitiveness centered on ingredients and efficacy. "In the past, K-beauty was seen mainly as trendy Asian cosmetics, but recently brand loyalty itself has been rising in the US and European markets," an industry official said. "The biggest change is that the global consumer base is expanding rapidly."
