South Korea Beauty Fridges Market Size Insights Forecasts to 2032

• The South Korea Beauty Fridges Market Size was valued at USD 196.54 Million in 2023.
• The Market Size is Growing at a CAGR of 4.73% from 2023 to 2033.
• The South Korea Beauty Fridges Market Size is Expected to Reach USD 311.87 Million by 2033.

The South Korea Beauty Fridges Market Size is Expected to Reach USD 311.87 Million by 2033, at a CAGR of 0 4.73% during the forecast period 2023 to 2033.

Market Overview

Cosmetics, skincare, and beauty products that require refrigeration to maintain the effectiveness of the ingredients are kept in beauty fridges. The growing popularity of active and organic ingredients in skincare routines necessitates the use of cold storage solutions. Certain products, like vitamin C and retinol, break down when exposed to heat, light, or other unfavourable conditions that affect their constituent parts. These products need places to be stored that are cold and dark. Products like water-based gels and creams must be refrigerated to maintain the proper moisture content. Furthermore, the beauty industry in South Korea has grown rapidly in recent years, owing to rising disposable income levels in emerging economies and rising demand for convenience products. Products that are kept in a beauty refrigerator have a longer shelf life and better chemical integrity, which reduces separation and odour changes. This is particularly crucial for natural products that contain active components like vitamin C. Furthermore, the benefits of using cold product applications have assembled strong support for good skincare, as have the current hectic lifestyles, alcohol and junk food consumption, and other factors. The market for beauty fridges is expected to grow in the forecast period due to the established advantages of using cosmetics and beauty products that are refrigerated.

Report Coverage

This research report categorizes the market for South Korea beauty fridges market based on various segments and regions forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the South Korea beauty fridges market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the South Korea beauty fridges market.

Driving Factors

Increasing awareness about the proper storage of cosmetics and skin care products is expected to drive the growth of the beauty fridge market in South Korea. Digitalization is one of the main elements directly driving the expansion of the beauty fridge market. One important way to raise brand and product awareness is through the growing use of social media and the internet. In addition, beauty fridge demand is on the rise, mostly in developed and developing nations, and it's being driven by the abundance of online product visibility and information. During the forecast period, it is also expected that the growing manufacturer presence on online marketplaces will contribute to the growth of the South Korean beauty fridge market.

Restraining Factors

The beauty fridge is becoming more and more popular, but there has also been growing criticism of the product. Since many people do not view the product as necessary, this contributes to a decline in demand for it. Furthermore, a lot of users complain that beauty fridges aren't the best place to store makeup or cosmetics because they accelerate their disintegration rather than preserve them. Cosmetics kept in the refrigerator show component separation. As a result, each of these factors hampers the market's growth for beauty refrigerators.

Market Segment

• In 2023, the up to 4 litres segment accounted for the largest revenue share over the forecast period.

Based on the capacity, the South Korea beauty fridges market is segmented into up to 4 litres, 4 litres to 7 litres, 7 litres to 10 litres, and more than 10 litres. Among these, the up to 4 litres segment has the largest revenue share over the forecast period. The increasing consumer preference for smaller skincare refrigerators over those with capacities larger than four litres is fueling the segment's growth. Customers' demand for the small-size capacity fridge is growing as a result of how convenient it is to carry around. Smaller capacity refrigerators are also being produced by manufacturers.

• In 2023, the skincare products segment accounted for the largest revenue share over the forecast period.

Based on application, the South Korea beauty fridges market is segmented into skincare products, hair care products, cosmetics, and others. Among these, the skincare products segment has the largest revenue share over the forecast period. Storing skincare products in a skincare fridge allows them to keep their chemical structure and integrity for a longer period, reducing separation and scent changes. This is particularly crucial for natural products that contain active components like vitamins These factors will boost the market growth in the forecast period.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the South Korea beauty fridge market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Frigidaire
• Upstreman
• Cooltai
• AstroAI
• Haier
• Samsung
• Crownful
• Yssoa
• Gupe
• Krome

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting and Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Development

• On February 2023, AstroAI Beauty Fridge released an updated skincare refrigerator with a slew of new features. This cutting-edge device now has an integrated LED light for improved visibility, a temperature display for accurate control, a silent mode for quiet operation, and easy organizing and storing features.

Market Segment

This study forecasts revenue at regional, and country levels from 2022 to 2033. Spherical Insights has segmented the South Korea beauty fridges market based on the below-mentioned segments:

South Korea Beauty Fridges Market, By Capacity

• up to 4 Liters,
• 4 Liters to 7 Liters,
• 7 Liters to 10 Liters,
• More Than 10 Liters
• Others

South Korea Beauty Fridges Market, By Application

• Skincare Products
• Hair Care Products
• Cosmetics
• Others