Buoyed by the popularity of K-beauty, cosmetics exports in the first half of this year topped $7.0 billion, the largest ever for the period.
The Ministery of Food and Drug Safety said on the 2nd that cosmetics exports in the first half of this year reached a provisional $7.0 billion (about 10.84 trillion won), up 27.3% from the same period a year earlier. It is the largest first-half performance on record.
First-half cosmetics exports stayed in the $4.0 billion range from 2022 to 2024, then rose to $5.5 billion last year, and surpassed $7.0 billion for the first time this year. Second-quarter cosmetics exports were $3.9 billion, up 25.8% from the first quarter ($3.1 billion).
By country, the United States ranked as the largest export destination at $1.45 billion, accounting for 20.7% of total exports. Exports to the United States increased by $430 million from a year earlier. The United States overtook China last year to become the largest cosmetics export destination and maintained the top spot in the first half of this year.
China followed with $1.01 billion (14.4%), and Japan recorded $580 million (8.3%). Exports to China fell 6.6% from last year, and its share of total exports dropped from 19.6% to 14.4%. Growth in European markets such as Poland (72.8%), the United Kingdom (150.6%), and the Netherlands (220.4%) was also notable.
By item, exports of basic cosmetics were the largest at $5.48 billion. Exports of basic cosmetics increased 25% from last year. They were followed by color cosmetics ($720 million) and products for human cleansing ($340 million).
An official at the Ministery of Food and Drug Safety said, "We will continue to do our best to support the export industry so that K-beauty's standing in the global market can rise further," adding, "We plan to continue expanding overseas support policies, including operating the world's first council of heads of global cosmetics regulators, providing country-specific regulatory information, and consulting for halal certification."