# Beauty Services Market Status

Consumers are giving their eyes to lifestyle beauty brands. This is a natural change as the Stayhome campaign continues around the world and people spend more time at home. A clear upward trend is seen not only in the body sector, but also the room perfume, such as diffusers and room sprays. In addition, it is expected that online-based popular beauty brands will grow due to the physical situation in which untact consumption is bound to increase.

Additionally, as health concerns grow, hygiene habits will become an important routine. The skin damage sector due to the environment is also likely to grow significantly with its antibacterial function. The number of consumers who pursue Clean Beauty has increased, and these consumers will increasingly seek and purchase things that are mild, not burdensome, and can be healthy in their daily life.

Sales of personal hygiene products (gargles, hand sanitizer, hand wash, etc.) surged, and new companies with a hygiene concept appeared. Home training-related products and diet-related industries also seem to be growing industries in the COVID-19 situation. As the COVID blues continues, related industries such as meditation and mental training are also expected to increase.

The beauty market was valued as $364.9 billion in 2016, an increase of 4.8% from the previous year, and is expected to show a steady increase to $487.1 billion in 2021. In the case of cosmetics, the market has been continuously growing due to the increase of the female economically active population and the consumer awareness that it is an essential commodity despite that the global economic crisis compared to other industries or manufacturing industries.

#### &#x20;| Global cosmetic market size and growth rate

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As of 2016, the size of the market by region is shown as Asia/Pacific (US$123.8 billion), the Americas (US$123.3 billion), and Europe (US$959 billion). By cosmetic type, SKIN CARE (31.7%), HAIR CARE (19.2%), COLOR COSMETICS (16.6%), FRAGNANCES (12.6%), BATH AND SHOWER (6.1%), DEODORANTS (5.5%), SUN CARE (2.6%) , OTHERS (2.2%).

Korea has the world's 8th largest beauty market. The market is also growing steadily every year, and the market size is increasing to such an extent that the rate of growth compared to other manufacturing industries is incomparable.

#### | Trend of growth rate of domestic cosmetics production

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As of 2016, the total domestic cosmetics production was 13.5 trillion won, up 21.6% from the previous year. It can be seen that the growth rate is very high compared to the general manufacturing industry's growth rate of 3.8%. Although it suffered a stagnation in China, the largest cosmetics market, due to the impact of THAAD in 2017, it is gradually recovering in 2018. In addition, it is expected that a new market called Dermo cosmetics (dermatology + cosmetics), a functional cosmetics market, will be formed, opening up a market for personalized cosmetics.
