Exports reached $11.1 billion through September, a 31.1% surge; basic skincare products rose 45.1% to $8.7 billion.
The U.S. remains the primary market as exports expand into Europe; strong growth observed across ODM, brand, and distribution sectors.
K-Beauty exports have reached a historic high this year, nearing the previous year’s total annual performance in just nine months. As the United States solidifies its position as the largest export market and sales territories expand across Europe and North America, basic skincare products have been identified as the core driver of this overall growth.
According to the Ministry of Food and Drug Safety, domestic cosmetic exports from January to September of this year totaled $11.1 billion, an increase of 31.1% compared to the same period last year. This marks the highest figure on record for the first three quarters, nearly reaching last year’s total annual export volume of $11.4 billion in only nine months.
Skincare Leads Export Growth at $8.7 Billion
Growth trends varied significantly by product category.
Exports of basic skincare products reached $8.72 billion, an increase of $2.71 billion compared to the same period last year—a growth rate of 45.1%.
In contrast, exports of color cosmetics fell to $1.11 billion, a 3.6% decrease year-on-year. Meanwhile, body cleansing products rose 30.1% to $560 million.
While total cosmetics exports rose by 31.1%, skincare products significantly outperformed this average, whereas color cosmetics saw a decline. This indicates that K-Beauty's overseas growth is not uniform across all categories but is heavily concentrated in skincare.
U.S. Solidifies Top Position; Expansion into Europe and North America
By country, the U.S. remains the largest market.
From January to September this year, cosmetics exports to the U.S. reached $2.349 billion, a 40.6% increase compared to the same period last year, accounting for 21.1% of total cosmetics exports.
The U.S. market growth was also led by skincare products. Exports of basic skincare to the U.S. rose by 48.8%, from $1.21 billion in the same period last year to $1.8 billion this year, an absolute increase of $590 million.
Total exports by country were led by the U.S., followed by China ($1.581 billion) and Japan ($889 million). Total exports to China increased by 0.4% year-on-year, while those to Japan grew by 8.6%.
Growth in markets outside traditional strongholds was even more aggressive. Exports to the U.K. surged 179.3% to $443 million, the Netherlands jumped 292.6% to $369 million, Poland grew 58.6% to $322 million, and Canada increased 124.4% to $285 million.
Growth Spreads Across ODM, Brands, and Retailers
The expansion of K-Beauty exports is clearly reflected in the performance and business strategies of industry players.
Cosmax, a leading cosmetics ODM firm, reported consolidated sales of 1.4769 trillion KRW for the first half of this year, a 22% increase compared to the same period last year, with operating profit rising 13% to 126.8 billion KRW. Its U.S. subsidiary turned a profit in the second quarter.
Kolmar Korea is expanding its local production base in the U.S. Its second plant has an annual production capacity of 120 million units focused on skincare and sun care products; including the first plant, total U.S. production capacity now stands at approximately 300 million units annually.
Unlike the first plant, which focused on color cosmetics, the second plant specializes in skincare and sun care. As demand for skincare products grows rapidly in the U.S., the company has successfully pivoted its local production capacity to match this shift.
Brand companies are also maintaining strong overseas growth.
APR reported consolidated sales of 1.3609 trillion KRW for the first half of the year. Led by its Medicube brand, overseas sales have expanded, with the company broadening its distribution channels across Europe in addition to the U.S. market.
Dalba Global posted consolidated sales of 358.1 billion KRW in the first half, a 47.9% increase year-on-year, while operating profit rose 55.8% to 92.3 billion KRW. Export sales increased by 79%, with exports now accounting for 72% of its total revenue.
The expansion of K-Beauty brands into global markets is also reflected in the performance of distribution companies.
Silicon2, a global distribution firm, reported consolidated sales of 749.1 billion KRW in the first half of the year, a 46.6% increase compared to the previous year, with operating profit growing 47.6% to 147.5 billion KRW. By region, sales in the EU and the U.S. increased by 68.7% and 67.6%, respectively.
Divergent Growth Engines by Company
Growth drivers differ by business structure: Cosmax and Kolmar Korea rely on ODM and local production, APR and Dalba Global focus on overseas brand sales, and Silicon2 is driven by the expansion of global distribution networks.
