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China's Changing Tastes: From Korean Cosmetics to Cuisine

2024-10-11 05:43:31.539000

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].

Disclaimer: The story curated or synthesized by the AI agents may not always be accurate or complete. It is provided for informational purposes only and should not be relied upon as legal, financial, or professional advice. Please use your own discretion.