Cosmoprof Asia Hong Kong 2023, the largest exhibition in Asia for cosmetics and beauty, commenced successfully on the 15th.
The exhibition, hosting 1202 companies across 46 countries, showcases a variety of beauty-related sectors, ranging from skincare and makeup products to nail care, aromatherapy products, bath items, hair spa essentials, professional beauty devices and spa products, encapsulating the true essence of Asian beauty.
This exhibition is a remarkable chance for Korean cosmetics companies to expand their global presence. With 10 organizations, including KOTRA and the Korea Cosmetics Association, facilitating buyer interactions and promotions. This year, 99 companies will present a range of K-beauty items such as spanning cosmetics, beauty devices and body care products.
Considering the consecutive decline in domestic cosmetics exports to China over the past three years (2020: $3.63 billion, 2021: $45.1 billion, 2022: $2.98 billion), this exhibition offers a significant opportunity to enter the Chinese market. Alongside the Korean Pavilion, more than 20 countries and regional offices, including the United States, France, Italy, and Switzerland, aim to connect with overseas buyers.
Meanwhile, exceptional beauty products from Korea were available in one place. The Seoul Economic Promotion Agency supported small to medium cosmetic firms from Seoul, setting up a specialized PR center for global promotion. They designed a tailored showroom, enabling buyers to explore top-quality beauty products from Seoul.
Kwon So-hyun, head of the beauty and fashion industry department in Seoul, said, “Amid intense competition, eight companies were supported by Seoul to participate in the Hong Kong Cosmoprof. Upon arriving at the venue, I witnessed the indisputable prominence of K-beauty.”
This involvement of small and medium-sized cosmetics companies holds significance. These firms encounter challenges in accessing opportunities in both Korean and overseas markets, primarily due to the dominance of larger corporations. Hong Kong is seen as a vital gateway for these companies to enter mainland China, the second-largest cosmetics consumption market.
The Hong Kong Cosmoprof continues until the 17th.
