Bengaluru, Aug. 25 -- A wave of K-pop and K-dramas swept Indians along. Now, consumer brands hope to reinvigorate growth and shine in a crowded market with K-beauty. K-beauty comprises a range of skincare and cosmetic products based on the South Korean beauty regimen. It is known for its unique ingredients and formulations like snail mucin and Jeju volcanic ash, and multi-step routines to get a hydrated, glowing complexion, often called 'glass skin'. Indian personal care companies such as Sugar Cosmetics and Pilgrim are betting on a surge in demand for Korean-inspired skincare in a market saturated with new companies and mimicking brands that are chasing young and affluent customers who are willing to experiment. Even Korean brands are swooping in, with India being the fastest-growing market for Innisfree after the US. Mumbai-based Pilgrim, backed by Vertex Ventures SEAI and Anicut Equity Continuum Fund, currently gets more than half its revenue from its K-beauty range of over 40 products, co-founder Anurag Kedia told Mint. It logged a revenue of Rs.400 crore in the financial year ended March 2025. "Our ingredients like volcanic lava ash come from Jeju Island and our red vine extracts are sourced from French vineyards. K-beauty enables Indian brands to command premium pricing while remaining accessible," Kedia said. "Our products are priced between Rs.300-Rs.800, effectively addressing the value-conscious premium segment." India's beauty and personal care market is projected to reach $45 billion by 2030, growing about 12% annually, according to a recent study by beauty retailer Kindlife and Datum Intelligence. K-beauty stands out as a breakout segment, estimated to grow from $0.4 billion in 2024 to a projected $1.5 billion by 2030, at 25.9% annualised rate. In March, Pilgrim raised Rs.200 crore at a pre-money valuation of Rs.3,000 crore from new investors Vertex Growth Fund and Anicut Equity Continuum Fund, along with existing investors Narotam Sekhsaria Family Office, Vertex Ventures SEAI, and Mirabilis Investment Trust. Pilgrim is now looking to invest more capital to expand the segment, with research and development in Korean skincare as top priority. Quench Botanics, a Korean skincare brand launched by L Catterton and A91 Partners-backed Sugar Cosmetics in 2022, saw its revenue surge 66% in FY25 over the previous fiscal, co-founder and chief operating officer Kaushik Mukherjee said, without revealing absolute figures. Quench Botanics, which roped in Kareena Kapoor Khan as a co-owner in October 2023, grew faster than Sugar in the last two years, mirroring the rising demand for K-beauty products. "Since last year, makeup [cosmetics] have been going through a rough patch," Mukherjee said. "But consumers are always willing to invest in skincare. Skincare works on trust, and we are seeing that Sugar's 10-year experience in building consumer confidence in cosmetics is translating into sticky demand for Quench's skin range." The Korean skincare market is riding on increased awareness of skincare routines among Gen Z and millennials, a shift toward ingredient-led, results-driven products and the rising influence of Korean pop culture. "K-beauty's rise offers a blueprint for innovation and differentiation in a crowded market," said Shashank Goel, partner at consulting firm Kearney. "Its success lies in its science-backed formulations, and storytelling around skin health rather than just aesthetics. Indian brands can learn from this by focusing on efficacy, transparency, and consumer education." Moreover, K-beauty's emphasis on rituals and self-care aligns well with evolving consumer values, potentially reshaping how beauty is perceived and consumed in India, Goel said....