Want to look beautiful? – Here’s the 'Made In Korea' mask pack

South Korean face mask packs – a flagship product of K-beauty – are staging a dramatic revival in popularity.

Rising to fame alongside K-pop and K-drama, these sheet masks are poised to break export records this year, driven by strong shipments to the US and China, after a period of stagnation and growing competition.

According to the Korean alternative data platform KED Aicel on Friday, exports of mask packs reached $260 million in the first four months of the year.

At this trajectory, annual exports are forecast to reach a record $800 million, analysts said.

If confirmed, the overseas sales of mask packs will mark a significant turnaround following a drop from $786 million in 2021 to $529 million in 2023, weighed by a flood of low-cost imitations and aggressive price competition.

CHINA’S ENTHUSIASM FOR K-MASKS

China’s growing enthusiasm for K-masks is a key driver of the recovery.

In April, Korean mask pack exports to China jumped by 94.3% on-year to $18.18 million.

January and February also saw increases of 44.2% and 63.5%, respectively, from the year-earlier periods.

Some companies that fell victim to growing competition are bouncing back by focusing on innovation and marketing.

L&P Cosmetic, which sells beauty products under the Mediheal brand, saw its sales halve to 174.7 billion won in 2020 from 398.8 billion won in 2016, with operating profit dropping to 12.6 billion won from 130.9 billion won over the same period.

But it fought back by developing more sophisticated products, adding ingredients such as tea tree, collagen, vitamins and hyaluronic acid, and increasing its product line to more than 250 varieties.

This resulted in a 54% sales increase last year to 300 billion won, with more than 40% coming from export sales.

L&P set up a local branch in Shanghai in 2015 and has since led sales of Korean face mask packs in China.

GP Club, which entered the Chinese market in 2016 with its skin care brand, JM Solution, short for journey to miracle solution, which includes hit products such as “Active Jellyfish Vital Mask” and “Honey Royal Propolis Mask,” is staging a similar comeback.

The company is currently struggling to keep up with strong demand, with backlogs for nearly 60 million mask packs, according to industry officials.

APPEAL NOT LIMITED TO ASIA

A cosmetics industry executive said growing awareness in China about bespoke skincare routines and a perception that Korean products are trustworthy are fueling the recovery of Korean mask pack exports.

The appeal is not limited to Asia.

K-masks are gaining ground in the US and Europe as well.

Beauty Selection, manufacturer of the Biodance mask pack brand, saw its annual sales reach 130 billion won last year, more than tripling from the previous year, on the back of strong US export growth.

Biodance’s “second-generation mask pack," which utilizes a high-concentration, hardening essence instead of traditional sheet material, is a bestseller on the US online shopping mall Amazon. Those mask packs are also available at certain Galeries Lafayette department stores in Paris.

The strong performance by mask pack makers is also boosting their suppliers.

Cosmax Inc., a leading Korean cosmetics manufacturer, posted 50 billion won in mask pack sales in the first quarter, reflecting growing momentum across the industry.

Write to Yun-Sang Ko at kys@hankyung.com

In-Soo Nam edited this article.