South Korea Beauty Fridges Market Size
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 5.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
South Korea Beauty Fridges Market Analysis
The South Korea beauty fridges market has generated revenue of USD 198 million in the current year and is poised to achieve a CAGR of more than 5% for the forecast period.
- The beauty industry in South Korea has experienced rapid growth in the past few years due to growing disposable income levels in emerging economies and increasing demand for convenience products. Storing products in a beauty fridge helps these products maintain their chemical structure and integrity for a longer period of time, helping minimize separation and scent changes. This is especially important for natural products with active ingredients such as Vitamin C.
- During the initial stage of COVID-19, due to supply chain disruptions, the markets experienced losses due to stoppage in manufacturing and distribution services. Later, due to work-from-home culture, the demand for cooling systems rose. Post-COVID, the market is experiencing gradual growth according to seasonal demand fluctuations.
- Beauty fridges are becoming an increasing trend in the beauty industry because they provide a convenient option for storing products in a controlled environment. Usually, when people purchase items from certain beauty retailers, they will receive the products in a plastic package, which exposes them to bacteria. On the other hand, Beauty fridges keep all the products at a temperature that does not allow bacteria to increase and keep all beauty products fresh. The development of different skincare facial and hair treatments is driving the demand for beauty fridges.
South Korea Beauty Fridges Market Trends
Increasing Trend of Cryotherapy Based Products
- Through numerous research and studies, it has been found that the application of cold products is exceptionally beneficial for the skin. The cold temperature of things applied to the skin, like ice or chilled toners or balm, is highly efficient in combating puffiness, open pores, and spots. This has given rise to the trend of cryotherapy-based crèmes and DIY ice rollers.
- In addition, the current hectic lifestyles and consumption of alcohol and junk foods have raised strong support for good skincare, and the advantages of cold product applications have garnered this support as well. The known benefits of using beauty and cosmetic products kept in a fridge are boosting the growth of the beauty fridge market in the coming years.
Rising Trend of Beauty and Skincare
- With the rising trend of beauty and skincare, consumers have started demanding products that benefit the skin without spending a lot. As a result, a plethora of products is now available in the marketplaces with active ingredients or herbal or organic components.
- In addition, skin product manufacturers are incorporating temperature-sensitive ingredients like vitamin C, retinol, hyaluronic acids, etc, which are required to be kept at low temperatures. Such Products are increasing demand for beauty fridges, especially among working individuals.
South Korea Beauty Fridges Industry Overview
South Korea's beauty fridge market is a fragmented industry. South Korea is expected to have a higher market share of beauty refrigerators because it has more high-end households than any other region in the world that can afford these appliances. The major players are Cooltai, AstroAI, Crownful, Haier and Samsung.
South Korea Beauty Fridges Market Leaders
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Cooltai
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AstroAI
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Crownful
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Samsung
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Haier
*Disclaimer: Major Players sorted in no particular order
South Korea Beauty Fridges Market News
- February 2023: AstroAI Beauty Fridge unveiled an upgraded skincare refrigerator boasting a suite of new features. This innovative product now comes equipped with a built-in LED light for enhanced visibility, a temperature display for precise control, a silent mode to ensure peaceful operation, and convenient organization and storage capabilities.
- January 2022: Crownful introduced a cutting-edge beauty fridge designed to maintain cooling in two separate compartments. This eco-friendly appliance is entirely freon-free and incorporates advanced safety technology, earning ETL certification for exceptional durability and energy efficiency. Additionally, it offers the flexibility of plugs suitable for both standard home outlets and 12V car chargers.
Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS AND INSIGHTS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Consumer Awareness about Product Preservation
4.3 Market Restraints
4.3.1 Higher Electricity Consumption
4.4 Market Opportunities
4.4.1 Technological Advancement in Beauty Fridge Market
4.5 Industry Value Chain Analysis
4.6 Industry Attractiveness - Porters' Five Forces Analysis
4.6.1 Threat of New Entrants
4.6.2 Bargaining Power of Buyers
4.6.3 Bargaining Power of Suppliers
4.6.4 Threat of Substitutes
4.6.5 Intensity of Competitive Rivalry
4.7 Insights on technology innovation in the Market.
4.8 Impact of COVID-19 on the Market
5. MARKET SEGMENTATION
5.1 By Capacity
5.1.1 Up To 4 Liters
5.1.2 4 Liters to 7 Liters
5.1.3 7 Liters to 10 Liters
5.1.4 More Than 10 Liters
5.2 By Application
5.2.1 Cosmetics
5.2.2 Skincare
5.2.3 Haircare
5.3 By Distribution Channel
5.3.1 Online
5.3.2 Offline
6. COMPETITIVE LANDSCAPE
6.1 Market Concetration Overview
6.2 Company Profiles
6.2.1 Cooltai
6.2.2 AstroAI
6.2.3 Haier
6.2.4 Samsung
6.2.5 Crownful
6.2.6 Frigidaire
6.2.7 Upstreman
6.2.8 Yssoa
6.2.9 Gupe
6.2.10 Krome*
- *List Not Exhaustive
7. MARKET FUTURE TRENDS
8. DISCLAIMER AND ABOUT US
South Korea Beauty Fridges Industry Segmentation
A beauty fridge is the ideal cool-temperature storage device that maintains a cool environment for the products.
South Korea beauty fridges market is segmented by capacity (up to 4 liters, 4 liters to 7 liters, 7 liters to 10 liters, and more than 10 liters), by application (skincare products, hair care products, and cosmetics), and by distribution (online and offline)
The report offers market size and forecasts in value (USD) for all the above segments.
| By Capacity | |
| Up To 4 Liters | |
| 4 Liters to 7 Liters | |
| 7 Liters to 10 Liters | |
| More Than 10 Liters |
| By Application | |
| Cosmetics | |
| Skincare | |
| Haircare |
| By Distribution Channel | |
| Online | |
| Offline |
Frequently Asked Questions
What is the current South Korea Beauty Fridges Market size?
The South Korea Beauty Fridges Market is projected to register a CAGR of greater than 5% during the forecast period (2024-2029)
Who are the key players in South Korea Beauty Fridges Market ?
Cooltai, AstroAI, Crownful, Samsung and Haier are the major companies operating in the South Korea Beauty Fridges Market .
What years does this South Korea Beauty Fridges Market cover?
The report covers the South Korea Beauty Fridges Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the South Korea Beauty Fridges Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
South Korea Beauty Fridges Market Industry Report
Statistics for the 2024 South Korea Beauty Fridges market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. South Korea Beauty Fridges analysis includes a market forecast outlook to for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
