5 Countries That Produce the Best Cosmetics in the World

2. Republic of Korea (ROK)

Cosmetics Exports in 2021: $7.6 billion

The Republic of Korea (ROK), commonly known as South Korea, is an Asian country with an advanced economy. It is also one of the largest cosmetics markets in the world, which was worth $12.6 billion in 2020 and is expected to grow at a 5.22% CAGR by 2027. A ton of South Korea’s $7.6 billion cosmetics exports in 2021 was worth $30,157, the third most valuable on our list. Its largest cosmetics company is LG H&H Co., Ltd. (KRX:051900.KS) with an 11.36 trillion Korean Won market cap. Other large players are Amorepacific Corporation (KRX:090430.KS) and Cosmax, Inc. (KRX:192820.KS).