Korean beauty products, well known as K-Beauty, have experienced an unprecedented surge in popularity within the U.S. beauty market. This trend is reflected in trade data, with U.S. imports of Korean cosmetics reaching $1.41 billion (based on Jan-Oct 2024), surpassing imports from France, which totaled $1.03 billion. According to The Korean Economic Daily (source), Korean cosmetics now account for 22.2% of the U.S. beauty market share, compared to French cosmetics at 16.3%.
At Bloomkare, we’ve witnessed firsthand the growing demand for K-Beauty in the U.S., with major retailers like Target and Ulta expanding their K-Beauty selections to meet consumer interest. Recognizing this trend, Bloomkare is actively bringing curated K-Beauty assortments to regional retailers, including an exclusive launch in Bristol Farms locations across California. Additionally, Bloomkare was recently featured on BeautyMatter (read more), discussing how U.S. trade policies could impact the future of K-Beauty's success and what retailers can do to adapt.
K-Beauty’s Retail Expansion in the U.S.
Major U.S. retailers are recognizing the long-term potential of K-Beauty, dedicating more shelf space to Korean skincare and cosmetics. Target launched an official K-Beauty section in 2024, expanding beyond its initial offerings like Peach & Lily, which has been on shelves since 2017. Ulta Beauty has also established dedicated K-Beauty areas, while other large retailers are preparing to roll out new K-Beauty assortments in the coming months.
Beyond national chains, regional retailers are adopting K-Beauty strategies even faster. For example, Bristol Farms has partnered with Bloomkare to bring an exclusive curation of K-Beauty products to its California locations, demonstrating that U.S. retailers are quicker to adapt to consumer demand.
Navigating Trade Challenges in the U.S.
Despite its rapid growth, K-Beauty faces potential challenges if U.S. tariffs on imported goods increase. Higher tariffs could impact the affordability and competitiveness of Korean cosmetics, potentially prompting retailers to explore alternative sourcing options. However, there are key advantages that could sustain K-Beauty's momentum in the U.S.:
- Korean Imports Remain Tariff-Free Under KORUS FTA: While imports from China face a 20% tariff, K-Beauty products imported under the Korea-U.S. Free Trade Agreement (KORUS FTA) are currently tariff-free, making them an attractive investment for U.S. retailers.
- Strong Government Support for K-Beauty: The Korean government invests heavily in its cosmetics industry, offering tax breaks to export-only companies and funding research & development to drive innovation. Seoul has even launched initiatives to position itself as a global beauty hub, reinforcing K-Beauty’s status as a leading force in skincare and cosmetics.
- Unmatched Innovation & Consumer Trust: Unlike other markets attempting to replicate its success, K-Beauty has built a strong reputation for innovation, efficacy, and ingredient transparency. While some retailers may explore alternative beauty imports, K-Beauty continues to set the standard in clinical-backed skincare, making it difficult to replace.
Even with potential tariff discussions, the U.S. demand for K-Beauty remains strong, and Bloomkare continues to play a crucial role in bringing top Korean brands into major U.S. retailers. With dedicated shelf space expanding, more retailers investing in K-Beauty, and trade advantages still in place under KORUS FTA, the future of Korean beauty in the U.S. looks bright.
At Bloomkare, we remain committed to helping K-Beauty brands thrive internationally, providing strategic retail partnerships and wholesale opportunities.
For wholesale inquiries, contact us at wholesale@bloomkare.com