K-beauty brands are riding a popularity upsurge in India, driven by the growing influence of Korean culture, particularly K-pop, K-dramas and social media. This cultural wave has significantly shaped consumer demand for global beauty trends, with Korean products standing out for their high quality, innovative use of natural ingredients, and unique formulations.
“When we first entered the Indian market, there were hardly two or three Korean skincare brands. Today, that number has grown to over 60, making India a thriving hub for Korean beauty,” said Mini Sood Banerjee, assistant director and head of marketing, Innisfree India, a K-beauty brand. She added that although the brand entered India back in 2013, it continues to notch an impressive annual growth rate of 40-50 per cent.
According to data analytics start-up Tracxn, the K-beauty sector comprises over 1,100 companies worldwide. Beyond South Korea, the US, UK and India are the top three markets for K-beauty firms. India is already home to 39 K-beauty brands, including The Face Shop, Quench Botanics, Maccaron, Limese and Belif.
“South Korea was originally a manufacturing hub for personal care products. Over time, it leveraged this expertise to build global beauty brands known for their high quality,” said Neha Singh, chairperson and managing director, Tracxn. She adds that despite macroeconomic challenges, such as inflation, geopolitical conflicts and supply chain disruptions, Indian consumers’ fascination with Korean beauty remains strong, contributing to the continued growth of the K-beauty sector in the country.
This trend is largely driven by urban women aged 18-30, who are skincare-conscious, digitally savvy and enthusiastic about Korean content, often following beauty influencers for recommendations. “The ethos of K-beauty—rooted in clean beauty, sustainability and natural ingredients—is increasingly resonating with Indian consumers,” said Banerjee.
But isn’t Indian skin tone different from Korean skin? Banerjee explained that the brand has developed a dedicated team to study and innovate specifically for the Indian market, including creating products tailored to local needs. For instance, the Innisfree No Sebum range was introduced to address the challenges of humid Indian weather. The brand has also launched specially formulated lip colours suited to Indian skin tones.
Globally, according to Tracxn, the top-funded K-beauty companies include Memebox, which has raised $193 million, followed by GP Club ($67.5 million) and Clio Professional ($50.1 million)