In 2015, South Korea was the sixth biggest makeup market worldwide, just after the UK, reaching a value of US$2.2 billion. Considering its relatively small population, South Korea has the highest spend per capita, with $44 per year, per inhabitant in 2015 – compared to $39 per capita in the UK and $34 in the US.
Although the locals are big spenders, South Korea also attracts buyers from neighbouring countries such as China. This makes South Korea a very specific beauty destination where competition is intense due to high local and foreign demand.
Lip tint evolves into multifunctional claims and new textures
One would think that nearly everything has been done when it comes to lip tints in South Korea, but local companies continue to introduce innovative formats and add new claims to the benefits of long lasting and natural colour that tints typically promise. Lip tint is a very popular format in South Korea, representing over 21% of the total lip colour cosmetics launches in 2015 in the country, according to Mintel GNPD.
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