A new analysis from the Korea International Trade Association’s International Trade and Commerce Research Institute shows that beauty exports to South America jumped from $15.3 million in 2020 to $70.2 million in 2023, more than a fourfold rise.
Korea’s share of the region’s beauty import market grew from 0.7% to 1.6% over the same period, lifting its ranking from 17th to 13th place.
Cosmetics made up over 90% of K-beauty shipments to South America, with hair care products such as shampoo and conditioner accounting for 6.5%. Brazil was the biggest export destination with a 45% share, followed by Chile at 23.2%, Colombia at 9.4%, and Peru at 8%.
The broader market has also shown solid growth. South America’s beauty imports reached $4.13 billion last year, expanding at an average annual rate of 4.7% since 2020. Cosmetics represented the largest portion of regional imports at 34.9%, followed by perfumes at 23.1% and hair care products at 19.4%.
The report said Korean brands entering the region must adapt to local consumer preferences. It recommended value-driven strategies for cosmetics that highlight eco-friendly and sustainable attributes.
For hair care and toothpaste products, it advised aggressive short-form marketing to improve visibility in a crowded market. In the perfume segment, it pointed to opportunities in niche categories using distinctive ingredients such as coffee and coconut.
MOST POPULAR | India and Canada to Restart FTA Talks, Target $50bn Trade
