UPDATE: South Korea’s botulinum toxin exports have reached an all-time high of $41.66 million in October 2023, demonstrating a staggering 26.4% increase from the previous year. This rapid growth surpasses even the country’s booming semiconductor exports, which grew by 25.4% during the same period, according to data from KED Aicel.
The surge in demand for “K-botox” products is transforming the global cosmetic landscape, particularly in emerging markets where consumers are drawn to their natural results and affordability. China remains the largest market, accounting for $23.5 million in third-quarter exports, followed closely by the U.S. at $18.8 million, Brazil at $17.3 million, and Vietnam at $10.8 million.
Leading manufacturers like Hugel Inc. and Daewoong Pharmaceutical Co. are driving this expansion. Hugel’s overseas revenue has surged by 20.9% year-on-year, reaching 118.3 billion won (approximately $82.6 million) in the first half of 2025. Meanwhile, Daewoong reported a remarkable 30.2% increase in exports to 98.3 billion won.
“Compared with American or European products, Korean injectables are cost-effective and deliver more natural facial expressions,” a Singaporean aesthetic clinic stated, highlighting the rising global reputation of South Korea’s cosmetic offerings.
In a groundbreaking achievement, South Korea’s botulinum toxin exports surpassed $100 million for the second consecutive quarter, totaling $114.6 million from July to September. This reflects a 24.2% year-on-year increase, signaling robust growth particularly in Vietnam, where imports skyrocketed by 279.6%.
As the competition heats up, analysts warn that the future of the “K-toxin” boom will depend on sustainable global leadership and profitability amid price pressures. Despite strong export momentum, some Korean companies are facing margin erosion due to intense price competition in key markets.
Next Steps: It remains to be seen how firms like Hugel and Daewoong will navigate the competitive landscape as they push further into the U.S. and China. The U.S. botulinum toxin market is valued at approximately $4.74 billion, with Hugel recently appointing Carrie Strom, former global president of Allergan, as its new global CEO.
As these developments unfold, the global beauty landscape is poised for significant changes driven by South Korea’s innovative and cost-effective cosmetic solutions. Keep an eye on this rapidly evolving industry as the demand for K-botox continues to rise.
