Seoul, South Korea – The beauty industry is witnessing a surge in popularity for "inner beauty" products, or edible cosmetics, as consumers prioritize health and wellness.
According to industry data released on January 29th, sales of inner beauty products at Olive Young, a leading health and beauty retailer in South Korea, have skyrocketed by an average of 30% annually over the past two years. In 2023 alone, sales surged by 40%, following a 27% increase the previous year.
While inner beauty products have been around for some time, they were primarily associated with weight loss. Recently, however, the market has expanded to include a wider range of products featuring ingredients commonly found in functional cosmetics, such as collagen and retinol.
"The inner beauty market used to be centered around slimming products," said an Olive Young spokesperson. "However, the market is now growing as products diversify. Slimming products focus on blood sugar management and dietary probiotics, while skincare products emphasize antioxidants like glutathione and anti-aging ingredients like retinol."
Major cosmetics companies are investing heavily in research and development for inner beauty products. Amorepacific launched "Super Retinol C" in October 2023, positioning it as a leading product in the edible retinol market. The company has been conducting retinol research since 1994 and has incorporated this expertise into the development of Super Retinol C.
"We plan to focus on inner beauty products with the 'edible retinol' concept, leveraging the familiarity of retinol as a cosmetic ingredient," said an Amorepacific spokesperson.
LG Household & Health Care is also actively investing in the inner beauty business. The company's health functional food brand, "SaengHwalJeongwon," has seen consistent success with products like "Hanami," which uses fermented placenta extract for skin beauty, and "Bipium," which supports weight management.
Inner beauty companies reported more than double the sales growth last year and plan to expand their exports. LG Household & Health Care is preparing to launch new products in Vietnam and Singapore.
"We will expand our portfolio of differentiated health functional foods and inner beauty products based on our R&D capabilities," said an LG Household & Health Care spokesperson.
As the global beauty industry evolves, inner beauty products are emerging as a significant growth driver, fueled by consumers' increasing desire for holistic wellness.
[Copyright (c) Global Economic Times. All Rights Reserved.]
