In recent years, there has been a notable shift in Chinese consumer preferences, with a significant decline in the popularity of Korean cosmetics, which have seen their market share drop from 27% in 2017 to just 14.2% in 2023. This decline coincides with a burgeoning interest in Korean cuisine, as evidenced by a 5.2% increase in Korean food exports to China, reaching approximately $1.1 billion in 2024. Consumers like Zhao Siqi, 28, express a preference for Korean food items such as ramyeon over beauty products, reflecting a broader trend among the youth [b0742f5e].
Among the most popular Korean food items in China is Buldak Bokkeum-Myeon, which has gained traction thanks to endorsements from K-pop group (G)I-DLE. Additionally, exports of instant noodles to China surged by nearly 20%, totaling $181 million, while processed rice-based product exports rose by 24% to $6 million. This culinary shift has been facilitated by the easing of restrictions on Korean content in 2021, which has fostered greater cultural exchange between the two nations [b0742f5e].
Despite the decline in the cosmetics sector, companies like Sa Sa International remain optimistic about the niche market for Korean beauty products. Analysts from Frost & Sullivan predict a moderating decline in sales of Korean cosmetics, suggesting that while the market is contracting, there may still be opportunities for growth in specific segments [b0742f5e].
As the dynamics of consumer preferences continue to evolve, the Korean food industry appears well-positioned to capitalize on this trend, while the cosmetics sector must adapt to maintain relevance in a changing market landscape. This ongoing cultural exchange highlights the interconnectedness of consumer behavior and the influence of pop culture in shaping market trends [b0742f5e].