K-beauty Consumer Trends Report August 2022 ? 2022 daxue consulting ALL RIGHTS RESERVEDContents South Korea Consumer Demographics K-beauty trends 3 11 25 33 38 41 Digital trends Retail trends K-beauty trends Korea Market Research Case Studies 2 ? 2022 daxue consulting ALL RIGHTS RESERVEDDemographics Meet your Korean consumersSouth Korea has one of the fastest aging populations South Korea’s population has been rapidly aging in the past few years. It is expected to continue largely due to the low fertility and mortality rates. South Korea’s “Silver Population” was 16% of the population in 2020, an increase from about 11% in 2010. Age structure of South Korea 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 10.69% 11.1% 11.53% 11.96% 12.4% 12.86% 13.34% 13.85% 14.42% 15.06% 15.79% The South Korean population has been rapidly aging in the last few years as shown on the diagram on the left. According to another report by Statista, the elderly population is projected to rise to about 13 million in 2030 and about 17 million in 2040 mainly due to the low fertility and mortality rates. 73.21% 73.28% 73.35% 73.4% 73.41