Case 18: Overview of Buyer Discovery for Sanghwang Miin Co., Ltd. and BTS-Sun Company
Sanghwang Miin Co., Ltd. and BTS-Sun Company, both Korean cosmetics and beauty manufacturers, jointly requested KOTRA Dhaka to identify potential buyers for their entry into the Bangladesh K-beauty market. Sanghwang Miin focuses on skincare products based on sanghwang mushroom extract, while BTS-Sun Company specializes in color cosmetics and nail products. With a population of 170 million and a large base of young female consumers, Bangladesh is an attractive market where demand for K-beauty products is expanding quickly.
Bangladesh K-Beauty Market Landscape
Bangladesh's cosmetics market is estimated at roughly USD 800 million in 2025 and is expanding by more than 15% annually. Driven by the popularity of Korean cultural content, K-beauty enjoys strong brand recognition among younger consumers, especially in skincare, sheet masks, and BB cream. Middle-class women in Dhaka and Chattogram form the core demand base, while social media and e-commerce are the leading purchase channels.
| Category | Market Size | Growth Rate | K-Beauty Share | Competitive Landscape |
|---|---|---|---|---|
| Skincare | $280M | +18% | Approx. 12% | Local brands and Indian products remain strong |
| Color Cosmetics | $150M | +20% | Approx. 8% | Global brands are expanding their presence |
| Haircare | $180M | +10% | Approx. 3% | Dominated by Unilever and P&G |
| Nail and Lip | $50M | +25% | Approx. 15% | A strong category for K-beauty |
| Sheet Masks | $20M | +30% | Approx. 35% | K-beauty holds a dominant position |