In this article, we will be taking a look at the top country with the most beautiful women in Asia. If you want to learn about more countries, head straight to the 20 Countries with the Most Beautiful Women in Asia.
The Booming Beauty Industry: Trends and Growth in the Asia-Pacific and Global Markets
The global beauty industry is one of the keys to women’s beauty. The Asia-Pacific facial care market is projected to reach USD 88.4 billion by 2031, growing at a CAGR of 6.9% from 2021 to 2031. The global facial skincare market size was estimated at USD 96.13 billion in 2023 and is predicted to hit around USD 169.57 billion by 2033, growing at a CAGR of 5.84%.
South Korea is often referred to as the “beauty capital of the world,” and women in the country are known for their extensive skincare regimens and willingness to invest in beauty treatments. Young women in South Korea spend an average of $700 per month on skincare products and treatments. In Southeast Asian countries like Thailand, Malaysia, and Indonesia, the beauty industry is also thriving. The beauty market in Vietnam was worth $2.26 billion in 2022, with shoppers growing increasingly confident in their spending habits.
According to a report, the Southeast Asian beauty and personal care market is expected to generate around $92 billion in 2024, with online sales accounting for a significant portion. According to a report by the International Society of Aesthetic Plastic Surgery (ISAPS), South Korea had the highest number of cosmetic procedures per capita in 2020, with 13.5 per 1000 people opting for such surgeries.
Biggest Players in the Beauty Industry
If we talk about the biggest players in the beauty industry, companies like The Estée Lauder Companies Inc. (NYSE:EL), L’Oreal, and Ulta Beauty, Inc. (NASDAQ:ULTA), among many others cannot be left behind. The Estée Lauder Companies Inc. (NYSE:EL)’s breakthrough came in 1953 with the launch of Youth Dew, a bath oil that doubled as a fragrance, selling an unprecedented 50,000 bottles in its first year. In Q1 2024, The Estée Lauder Companies Inc. (NYSE:EL)’s net sales decreased 10% year-over-year to $3.52 billion and organic net sales declined 11%. Their net earnings attributable to Estee Lauder plunged 94% to $31 million, or $0.09 per diluted share, compared to the prior year.
L’Oréal is also a global leader in the beauty industry. Innovation is at the core of L’Oréal’s success, with a significant investment of €1.29 billion in research and development in 2023, amounting to 3% of its sales. Loreals one notable example is the acquisition of Modiface in 2018 which is an AR company that enables consumers to virtually try on makeup and hair colors. In 2023, the company reported a staggering €38.2 billion in sales, with a remarkable operating profit of €7.7 billion.
Finally, Ulta Beauty, Inc. (NASDAQ:ULTA) has launched the Conscious Beauty initiative, which aims to provide transparency and education to customers about the products they offer. The Ulta Beauty, Inc. (NASDAQ:ULTA) Charitable Foundation (UBCF) supports the well-being of women and teens, focusing on mind, body, and community well-being. In 2024, UBCF committed $3 million to nonprofit partners, in addition to the $60 million donated since 2016. The company partners with organizations like Big Brothers Big Sisters, Breast Cancer Research Foundation, Dress for Success, Save the Children, and The Jed Foundation to support various causes. Ulta Beauty opened 247 new stores in 2022 and remodeled 20 stores with a new floor layout and design. In Q1 2024, Ulta Beauty, Inc. (NASDAQ:ULTA)’s operating income was $400.9 million or 14.7% of net sales, down from $442.1 million or 16.8% in the prior year.
Our Methodology
For our methodology, We’ve ranked the countries with the most beautiful women in Asia based on a consensus-driven approach. We went through multiple sources and shortlisted the countries with most beautiful women and then assigned them scores. The top country with the most beautiful women got a score of 1 (12/12 = 1), the 2nd country got a score of 0.08 (1/12 = 0.08), and so on. We then ranked these countries in ascending order.
Top Country with Most Beautiful Women in Asia
1. South Korea
Insider Monkey Score: 1
South Korea tops the list for being one of the countries with the most beautiful women in Asia. Plastic surgery is very common in the country with a report highlighting that one in ever 5 women gets plastic surgery done. The South Korean cosmetics sector is expected to generate US$1.76 billion in revenue by 2024. The country’s beauty and personal care business is expected to produce US$14.84 billion in revenue by 2024. From 2024 to 2028, this market is anticipated to expand by 2.42% (CAGR) yearly. Between one-fifth and one-third of women in Seoul have undergone plastic surgery or cosmetic procedures, compared to only 5% of American women. Many Korean women seek procedures like double-eyelid surgery to look “less Asian” and meet prevailing beauty ideals.
If you are curious to see which other countries are on the list for having the most beautiful women in Asia, check out our full list – 20 Countries with the Most Beautiful Women in Asia.
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Disclosure. None: The 20 Countries with Most Beautiful Women in Asia is originally published on Insider Monkey.