J-Beauty Products Market Size To Reach $45.01 Billion By 2030

July 2023 | Report Format: Electronic (PDF)

J-Beauty Products Market Growth & Trends

The global J-beauty products market size is anticipated to reach USD 45.01 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to grow at a CAGR of 3.9% from 2023 to 2030 in terms of revenue. The increasing skincare concerns and increasing demand for organic and natural cosmetics and personal care products are driving the market’s growth.

The COVID-19 pandemic had a negative impact on the J-beauty products industry’s growth. The beauty industry as a whole faced challenges during the pandemic, including supply chain disruptions, reduced consumer spending, and changing consumer priorities. Restrictions on international travel and lockdown measures in different countries affected the production and distribution of J-beauty products. Many manufacturers faced difficulties in sourcing ingredients, packaging materials, and components, leading to delays and supply shortages.

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J-Beauty Products Market Report Highlights

Based on product, the skincare segment accounted for the largest revenue share of 46.6% in 2022. This can be attributed to growing beauty and wellness consciousness among consumers and the increasing aging population
Based on type, the conventional segment dominated the market and held a share of 90.8% in 2022. This can be attributed to the low cost and easy availability of conventional J-beauty products. The organic segment is expected to grow at a CAGR of 6.0% over the forecast period
Based on distribution channel, the hypermarkets/supermarkets segment dominated the market with a share of 34.6% in 2022. The hypermarkets/supermarkets offer a personalized experience to the consumers and provide discounts and other benefits which makes them a popular choice among consumers
Asia Pacific held a market share of 69.4% in 2022 due to the increasing penetration of J-beauty products and increasing consumer spending on skincare products. North America is anticipated to expand at a CAGR of 4.8% over the forecast period
Mergers & acquisitions, agreements, R&D activities, new product launches, and expansions are the key strategies being adopted by the companies. For instance, in August 2022, Rey Nakajima launched a new J-beauty brand REY TOKYO in Germany. The brand was created by combining ancient beauty ingredients from Japan and the latest technology from Germany.