The US beauty industry is experiencing a rapid entry of K-beauty brands, and it is a growth that is fueled by a blend of cultural influence, advanced formulations, and an unparalleled understanding of the modern consumer. In a new report by Landing International, this second wave of K-beauty not only reshapes global beauty standards but is also redefining what it means to be a successful beauty brand in an increasingly competitive marketplace. It states that South Korea has now surpassed France as the top exporter of cosmetics to the US, with exports in the first quarter of 2024 reaching $477.1 million, capturing a market share of 20.1%. This is a staggering achievement, signaling a shift in global beauty dynamics, and it’s one that beauty executives cannot afford to ignore.In this new era, K-beauty is no longer a niche and unfamiliar market. It has become a major player, driven by innovative formulations, digital-first marketing strategies, and immense cultural force, which encompasses K-pop, K-dramas, and other aspects of South Korean culture. With a projected global market value of $91.99 billion in 2022 and a compound annual growth rate of 9.3% through 2030, K-beauty is poised for continuous growth, particularly in North America. BeautyMatter delves further into this new report by Landing International—The Second Wave of K-beauty—using the following trends to highlight the strategic areas that beauty brands and executives need to understand if they wish to compete in this rapidly evolving landscape.The Cultural Power of the Hallyu Wave: A Strategic Lever for K-BeautyKey Market Figures:K-food: Expected to grow from $9.5 billion in 2020 to $15.