: 관리자 : Fri, 2 April 2021, 12:00 AM
|"K-Beauty Expo" to be Held in 5 Countries as On-and-Offline Hybrid Events
This year, K-Beauty Expo is
celebrating its 13th anniversary as the leading beauty industry
exhibition in Korea attended by more than 1,000 exhibitors annually. In regard
to global markets, due to the Covid-19 pandemic, 2020 was a forgettable year.
For 2021, however, K-Beauty Expo is introducing a new hybrid exhibition format
in 5 countries around the world, including both on-and-offline events, thus
enabling exhibitors and buyers alike unprecedented opportunities to become
aware of each other.
Korean cosmetics exports
have increased at a rate of 12.9% annually on average for the last 10 years. At
present, Korean cosmetics exports rank 4th globally and have grown significantly
from US$8.7 billion in 2010 to US$40 billion (est.) in 2020. The volume of
e-commerce trade in cosmetics has rapidly increased from US$4.5 billion in 2016
to US$10.4 billion in 2020 (est.). The number of retail shops in Korea has decreased
slightly due to growth in the e-commerce market, although the number of retail
outlets still remains high. In 2017, the total number of beauty retail shops
was 5,332, while the amount decreased to 4,552 in 2019.
In 2020, China was on the
receiving end of more than half of all Korea’s cosmetics exports, remaining the
most important market for Korean cosmetics manufacturers. Prospective items for
post-COVID-19 in China
include products for
sensitive skin and skin trouble.
Looking at Japan, exports to
Korea’s closest neighbor have grown greatly year-on-year in 2020 to 59.2%. In
contrast, the import of Japanese beauty products into Korea has seen a
year-on-year decrease to US$161 million, although this total still ranks Japan
3rd in cosmetics imports to Korea.
Russia’s cosmetics market is
the 4th largest in Europe and growing at a rate of 10% on average
each year. A recent survey showed that 67.8% of Russians who responded believe
that Korean beauty products are ‘popular’ in Russia.
Thailand is the 6th
largest destination for Korean cosmetics exports. Although its market size decreased
by 4.5% in 2020, Thailand remains the largest cosmetics market in Southeast
Asia. Items with high potential in the Thai market include natural style
make-up, skin protection, and men’s grooming products.
In the post-COVID19 era, the
Korean beauty industry will remain strongly driven by small- and medium-sized
companies if we consider market performance. 2021 K-Beauty Expo offers expanded
categories for exhibited items and a stronger on- and offline hybrid B2B
program to maximize positive results for exhibitors and help the industry
recover to pre-COVID-19 levels.
2021 K-Beauty Expo Korea,
set to open at KINTEX in October, will present three specialized zones. Smart
Beauty Zone, Packaging Zone, and the Raw Materials & Technology Zone will
be in place to enable buyers from around the world to match with exhibitors on a
The K-Beauty Insight Concert
conference will be held online and offline to forecast 2022 market trends and
summarize industry issues for 2021. Pioneering beauty market brands will be
selected to receive K-Beauty Innovation Awards and given the chance to promote
themselves using the Live Commerce program provided by Korea’s leading
For exhibitors participating
offline in October, an online exhibition zone will be provided to enable
matching with buyers online from June. Limited to early-bird applications
received before June, practical benefits such as nominations for the K-Beauty
Innovation Awards and prior online marketing services will also be provided.
As expectations for the hybrid event grow, a
representative of KINTEX commented, “Even during this challenging period for
the MICE industry, hybrid K-Beauty shows worldwide in 2021 will maximize
exhibitor results and develop new industrial platforms for on- and offline
events.” Various discount programs are available particularly for multiple
exhibitor applicants. Please visit the K-Beauty Expo website (www.kbeautyexpo.com) for detailed information.
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