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: 관리자 : Fri, 2 April, 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.

 

 

 

The Vietnamese cosmetics market has shown steady annual average growth of 12.65% since 2014. In 2018, Korean beauty products amounted to 30% of all cosmetics imports in Vietnam, while Korea’s exports to Vietnam increased by 32.7% in 2019. Researchers find that the relatively low price and high quality of Korean beauty products and, of course, significant media exposure, has helped Vietnamese consumers develop greater familiarity


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 one-to-one basis.

 

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 e-commerce platforms.

 

 This year, K-Beauty Expo will also take place in 4 different countries, Thailand (Bangkok), Vietnam (Ho Chi Minh City), Taiwan (Taipei) and Indonesia (Jakarta), with the goal of supporting localization for global market pioneers in the beauty industry. If overseas travel is still limited due to the pandemic, pre-trained local interpreters selected by KOTRA will be operating on-site, while exhibitors will be participating in 1:1 business consultations via an Untact·Remote Exhibition in which they will meet buyers online.

 

 

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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