The rise of K-beauty products in Australia | The Business | ABC NEWS

Australians are the biggest global spenders, per capita, on South Korean beauty products outside of the country itself, according to data from Future Market Insights. The industry, known as K-beauty, has enjoyed global expansion fuelled by social media, the popularity of K-pop stars and the promise of 'glass skin'. Unexpected ingredients such as snail mucin (essentially, snail slime) and salmon sperm and elaborate skincare routines have lured in shoppers. In Australia, the market for K-beauty is projected to grow from nearly $160 million in 2023 to more than $320 million by 2032, according to Credence Research.

Major skincare and make-up chains have told The Business they plan to expand their K-beauty offerings to keep up with rapidly rising demand from Australian shoppers. Beauty stores specialising in Korean skincare and cosmetics are popping up around the country. Mainstream retailers like Sephora and Adore Beauty are also expanding their K-beauty ranges, which could put downward pressure on prices as brands compete for customers. W cosmetics' Narae Ko says K-beauty products are cheaper than Australian made products, attracting Gen Z and young Millennials. Australian entrepreneur Lauren Lee, who's based in Seoul, says wages are lower in South Korea and the country is a manufacturing powerhouse. She now runs her own K-beauty brand in South Korea called Jelly Ko. Australian beauty brands, including Go-To and Holme Beauty, have also incorporated K-beauty formulas into their range.

Industry observer Brittany Ferdinands said the rise of K-beauty in recent years had been supercharged by "sensory" marketing strategies and social media such as TikTok. But she said, behind the glow, there are sustainability concerns.
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