Yahoo Finance 20 Best Korean Skincare Products of 2024
In this article, we will discuss the 20 Best Korean Skincare Products of 2024. You can skip our detailed analysis of the global K-beauty products market, the Korean skincare industry's approach to sustainability, and recent developments in the beauty industry by going directly to the 5 Best Korean Skincare Products of 2024.
The Global K-beauty Products Market:
The market for K-beauty products was estimated by Grand View Research to be worth $91.99 billion in 2022, and it is forecast to grow at a CAGR of 9.3% between 2023 and 2030. This research states that top-notch ingredients are a hallmark of K-beauty products. It has been pointed out that K-beauty businesses focus on utilizing safe, efficient, and natural ingredients. Consequently, this has contributed to consumer awareness of these products.
As per the aforementioned research, the Korean cosmetics sector expanded gradually during the COVID-19 epidemic as more people became familiar with the products' multiple benefits. Furthermore, this study has found that, due to K-Beauty’s rise in recognition among consumers, significant companies are engaging in projects such as R&D, new product developments, and mergers and acquisitions to maintain their market position and adapt to market shifts by releasing an array of products. For example, L'Oréal debuted Shihyo, a new Korean brand, in November 2022 and catered to K-Beauty, C-Beauty, and J-Beauty consumers. This brand's product line consists of 24 herbal components soaked in fermented rice, along with other creative Asian procedures.
In 2022, the skin care K-beauty product sector held a dominant market share of almost 65.8% of total revenues and as per the above-mentioned Grand View Research study, all skin types may use K-beauty products without experiencing any aggravation. Both sensitive skin and a range of different skin types can benefit from using these products. In addition, customers' desire for K-beauty skin care products continues to increase as an outcome of increased knowledge and appeal. For example, a report on the UMMA website predicted that 44.6% of Americans and 38.4% of Europeans are expected to have sensitive skin in 2023. Hence, an array of skin-friendly products is available in the K-Beauty market for individuals with sensitive or complex skin types. Thus, it is anticipated that this situation will eventually strengthen the skin care sector of the K-beauty products industry.
According to the same Grand View Research report we've discussed earlier, male end-users are predicted to grow at the quickest CAGR rate of 10.2% throughout the forecast period, while women end-users led the market in 2022 with a share of more than 62.7%.
Meanwhile, this research has also revealed that in 2022 the supermarket and hypermarket distribution channels took over the market, accounting for more than 45%. Throughout the anticipated period of 2023 to 2030, the online distribution channel is expected to increase at the fastest CAGR of 11.2%.
It has been reported by this research that by holding a market share of almost 35%, North America was the dominant region in 2022. In North America, the primary factors propelling the cosmetics industry are growing skincare, innovative product branding, regular awareness, and marketing strategies. Well-known K-beauty companies like AmorePacific are diversifying their product lines in Japan and the United States. Moreover, Asia Pacific is predicted to develop at the quickest rate, with a CAGR of 10.6% from 2023 to 2030.
With that said, apart from the global K-beauty products industry, you can also find out about the global skincare industry in our article, "Highest Quality Skincare Brands in 2024."
The Korean Skincare Industry's Approach To Sustainability:
Companies are specifically focusing on sustainability, innovation, and transparency to cater to the shifting needs and preferences of their customers. Thus, this growing demand from consumers for environmentally friendly products is swiftly evolving the perfume industry. To read about sustainability in the perfume industry, check out our latest article, “15 Best Perfumes For Teenage Girls.”
The second-biggest oil refiner in South Korea, GS Caltex Corp., is growing its footprint in the cosmetics sector as part of its efforts to become more environmentally friendly. By signing an agreement with L'Oréal Group in 2023, the corporation made its strategic decision public. Together, they will develop biomaterial-based cosmetic components and supply these innovative ingredients to the well-known French cosmetics company.
Hur Sae-hong, GS Caltex's chief executive officer stated, “GS Caltex hopes to reinforce its leadership in environment production moves with its R&D and production capabilities through its partnership with L’Oréal, which has been taking various actions to mitigate climate change.”
Recent Developments in the Beauty Industry:
The beauty industry has been significantly influenced by Procter & Gamble Company (NYSE:PG) recent purchases in the skincare sector. Farmacy Beauty, a 'farm-to-face' company acclaimed for its cruelty-free and sustainable procedures, was purchased by Procter & Gamble Company (NYSE:PG) in 2021 for an undisclosed amount.
Furthermore, Procter & Gamble Company (NYSE:PG) acquired Tula Skincare in 2022, a company that makes probiotic skincare products. Tula Skincare was co-founded by Dr. Roshini Raj, Ken Landis, and Dan Reich, and its revenues surpassed $150 million in the United States in 2021.
In 2023, Procter & Gamble Company (NYSE:PG) had a whopping annual revenue of $82 billion and it is one of the Dividend Stock Portfolio For Income: Top 15 Stocks.
A well-known American multinational cosmetics company Estée Lauder Companies Inc. (NYSE:EL), has recently introduced the Skin Longevity platform with an emphasis on skincare technology and age reversal. As part of this initiative, Re-Nutriv Ultimate Diamond Transformative Brilliance Soft Crème, a new product with SIRTIVITY-LPTM technology that effectively reverses indications of aging in just 14 days, is being developed. Moreover, Estée Lauder Companies Inc. (NYSE:EL) has worked with the Stanford Center on skin longevity to enhance aging research and public education.
Another recent development was the successful acquisition of the Tom Ford brand by Estée Lauder Companies Inc. (NYSE:EL) in 2023. This is the largest transaction for Estée Lauder and its first acquisition in the fashion industry according to the company.
It is pertinent to note that the entire value of the transaction is $2.8 billion. ELC will shell out roughly $2.3 billion for the transaction, net of a $250 million payment from Marcolin S.p.A. ("Marcolin"). ELC intends to fund this deal with a mix of cash, debt, and $300 million in deferred payments to the sellers, which will become payable in July 2025.
To maintain continuity and further develop the Tom Ford label as a premium worldwide brand, Estée Lauder Companies Inc. licenses the Tom Ford trademark to Zegna Group for fashion and accessories and Marcolin Group for eyewear as part of the acquisition.
With regards to this latest acquisition, Fabrizio Freda, President and Chief Executive Officer, The Estée Lauder Companies stated:
“We are incredibly proud of the success TOM FORD BEAUTY has achieved in luxury fragrance and makeup and its dedication to creating desirable, high-quality products for discerning consumers around the world,” “As an owned brand, this strategic acquisition will unlock new opportunities and fortify our growth plans for TOM FORD BEAUTY. It will also further help to propel our momentum in the promising category of luxury beauty for the long-term while reaffirming our commitment to being the leading pure player in global prestige beauty.”
Additionally, Estée Lauder Companies Inc. (NYSE:EL) is among the 15 Beauty Stocks To Invest In and it had an astonishing annual revenue of $15.91 billion in 2023.
With that said, here are the 20 Best Korean Skincare Products of 2024.
Copyright: mykeyruna / 123RF Stock Photo
Methodology:
To pick out the 20 Best Korean Skincare Products of 2024, we searched the internet for the best Korean skincare products and ranked them based on their number of appearances in our sources, so each appearance got one score. Then we ranked the list based on the aggregated scores. In the list, we have also included each product’s price and quantity. We've used the price as a tie-breaker and then curated the products for our list. We’ve mostly relied on Amazon and Ulta for this. Please note, however, that we can’t guarantee the accuracy of prices, in case prices vary from region to region.
By the way, Insider Monkey is an investing website that tracks the movements of corporate insiders and hedge funds. By using a similar consensus approach, we identify the best stock picks of more than 900 hedge funds investing in US stocks. The top 10 consensus stock picks of hedge funds outperformed the S&P 500 Index by more than 140 percentage points over the last 10 years (see the details here). Whether you are a beginner investor or a professional one looking for the best stocks to buy, you can benefit from the wisdom of hedge funds and corporate insiders.
20. SKIN 1004 - Madagascar Centella Asiatica 100 Ampoule
Insider Monkey Points: 3
Price: $19.99 for 3.38 fl.oz
The SKIN1004 Madagascar Centella Ampoule is one of the best Korean skincare for combination skin, acne-prone, dry, and oily skin according to Amazon reviews. This brand claims that it's lightweight formula deeply penetrates into the skin.
19. SOME BY MI - AHA, BHA, PHA 30 Days Miracle Toner 150ml
Insider Monkey Points: 3
Price: $14.50 for 5.07 fl.oz
SOME BY MI AHA, BHA, PHA 30 Days Miracle Toner consists of Natural Tea Tree Extract to remove dead cells and promote better skin. This Tea Tree toner claims to transform your skin in 30 days! Most importantly, it helps in reducing pore size and removes tenacious dead skin cells.
18. Anua - Heartleaf 77% Soothing Toner
Insider Monkey Points: 5
Price: $19.69 for 8.45 fl.oz
This hydrating tonic contains 77% Houttuynia Cordata Extract to effectively reduce irritation and inflammation while hydrating and restoring the skin's pH balance. Its innovative formulation includes betaine and panthenol which is intended to renew the epidermis and strengthen the hydrolipidic barrier.
17. Beauty of Joseon - Revive Eye Serum
Insider Monkey Points: 5
Price: $18 for 1 fl.oz
The key ingredient of this Beauty of Joseon Revive eye serum is 10% ginseng root extract. Beauty of Joseon mixes ginseng with 2% retinal, a vitamin A derivative that works well to reduce wrinkles and fine lines. Moreover, this eye serum is one of the best-selling Korean skin care products as per Amazon reviews.
16. Peach & Lily Glass Skin Refining Serum
Insider Monkey Points: 6
Price: $39 for 1.35 oz
This serum is one of the best Korean glass skin products as Amazon reviews because it includes peach extract, niacinamide, madecassoside, East Asian mountain yam peptides, and hyaluronic acid. It claims to hydrate, calm, and brighten as well as firm skin. Apply it before moisturizing and after cleansing and toning.
15. Beauty of Joseon Relief Sun: Rice + Probiotic SPF 50
Insider Monkey Points: 6
Price: $21 for 1 fl.oz
Every product in the Beauty of Joseon line is hypoallergenic and made with Hanbang ingredients. This Korean sunscreen has 30% rice extract and grain-fermented ingredients which make the skin hydrated. It is a non-greasy formula that mimics a light moisturizing cream. Once absorbed, this sunscreen shields the skin from UV radiation and gives a natural glow without a white cast.
14. INNISFREE Super Volcanic Pore Clay Mask
Insider Monkey Points: 6
Price: $16 for 1.76 o.z
Amore Pacific is the owner of the South Korean cosmetics company Innisfree, which was founded in 2000. Innisfree’s creamy clay mask acts as a multifunctional product that exfoliates, improves texture, and immediately clears pores without drying out the skin.
13. Sulwhasoo First Care Activating Serum
Insider Monkey Points: 7
Price: $89 for 2.02 fl.oz
Sulwhasoo was founded in 1932 and today it is a luxury Korean skincare brand because of its unique Korean ingredients. Its serum is meant to be used as your first step after washing the face. It helps restore the skin barrier that has been compromised after cleansing as well as facilitating the absorption of the products that come next.
12. COSRX Advanced Snail 92 All In One Cream
Insider Monkey Points: 7
Price: $15.99 for 3.52 fl.oz
This cream is packed with 92% snail mucin also known as snail secretion filtrate and it creates a moisture barrier to moisturize, and calm skin. Moreover, this daily multi-purpose cream smoothes the skin to restore its brightness.
11. Anua Heartleaf Pore Control Cleansing Oil
Insider Monkey Points: 8
Price: $17.69 for 6.67 fl.oz
This gentle makeup remover is among Amazon’s best Korean skincare products for acne-prone skin since it gets rid of sebum and blackheads without blocking pores. The skin feels and looks fresh, nourished, and regenerated after using this lightweight oil.
10. AXIS - Y - Dark Spot Correcting Glow Serum
Insider Monkey Points: 8
Price: $15 for 1.69 fl.oz
Dark Spot Correcting Glow Serum incorporates 5% niacinamide and papaya extract, which efficiently brightens the skin complexion and reduces the visibility of dark spots and hyperpigmentation. It is claimed to be suitable for all skin types, including sensitive and acne-prone skin.
9. Haruharu WONDER - Black Rice Hyaluronic Toner Fragrance-Free
Insider Monkey Points: 8
Price: $13.35 for 5.1 fl.oz
It contains 100% Korean-produced fermented black rice extracts, that give the skin intense hydration and nourishment. This product claims to be perfect for sensitive skin and fragrance-free.
8. COSRX - AHA/BHA Clarifying Treatment Toner
Insider Monkey Points: 9
Price: $17 for 5.07 fl.oz
This toner being one of the best skincare products of 2024 is made with AHA, BHA, and purifying botanical ingredients that promote the texture and elasticity of the skin while minimizing pores. 0.1% AHA Glycolic Acid and BHA Betaine Salicylate in this toner assist in rejuvenating skin by eliminating dullness and dead skin cells.
7. ETUDE - Soon Jung 2x Barrier Intensive Cream
Insider Monkey Points: 9
Price: $16.87 for 2.02 fl.oz
Etude House was founded in 1985. This brand’s Soon Jung 2x Barrier Intensive Cream has organically derived components that help keep the skin balanced and hydrated. It is a great combination of moisturizing ingredients comprising shea butter, panthenol, and sunflower seed oil for supple and healthier skin.
6. I'm from - Rice Toner
Insider Monkey Points: 11
Price: $22 for 5.07 fl.oz
I'm From Rice Toner is among the best Korean skincare products of 2024 according to our list. It removes dead skin cells, restores the healthy balance of dry, exhausted barriers, and creates a protective layer over the skin to stop water loss. This toner has a high water retention capacity and a collagen-producing capacity, with 77.78% of rice extract. Thus, resulting in efficiently plumping the skin.
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Disclosure: None. 20 Best Korean Skincare Products of 2024 is originally published on Insider Monkey.
