Olive Young Awards 2024: What Can We Learn

It's finally that time of the year again! I hope you're as excited as us to learn about this year's winners at the Olive Young Awards 2024, and discover the latest, trendiest products that shaped the K-beauty wave the year of 2024.

2024's winners, determined through an analysis of 160 million purchase transactions and insights from a 15 million-member database, provide invaluable clues into what consumers truly want.

For aspiring brands or retailers considering private label beauty products, the Olive Young Awards offer a unique glimpse into the formulas, trends, and ingredients driving success in the K-beauty world.

In this article, we will look into how these insights can help you design your own award-worthy skincare line with MAYK.

Olive Young Awards 2024 Winners List

Skin Care

Best Toner

1. Round Lab 1025 Dokdo Toner

2. ANUA Heartleaf 77% Soothing Toner

3. Bringgreen Tea Tree Cica Soothing Toner

The striking similarity between these three toners lies in their texture—watery, quickly-absorbed texture that hydrates the skin without irritation and leaves no sticky finish behind. The Round Lab 1025 Dokdo Toner is famous for its exfoliating yet non-irritating and hydrating wonders, whereas the Anua Heartleaf 77% Soothing Toner and Bringgreen Tea Tree Cica Soothing Toner are known for their calming, non-irritating properties.

The Round Lab toner features deep sea water from Ulleungdo, which is rich in natural minerals. The brand has not only won the Olive Young Awards, but also the Hwahae Beauty Awards and Allure Beauty Awards, further proving its efficacy and popularity among the K-beauty community.

TIP: If you're creating a minimalist skincare, you can draw ideas from Round Lab's marketing strategy, and try to look for appealing stories that make a certain star ingredient stand out among the rest.

Best Essence / Serum

1. Goodal Green Tangerine Vita-c Dark Spot Serum

2. Torriden Dive-in Low Molecular Hyaluronic Acid Serum

3. ISOI Blemish Care Serum

Two out of the top 3 Korean face serums in 2024 are formulated to treat dark spots and blemishes. This goes to show how consumers view dark spots and blemishes, and the demand for affordable, non-invasive topical treatments that work to reduce dark spots and blemishes.

The Goodal Green Tangerine Vita-C Dark Spot Serum features a blend of 70% fresh green tangerine extract, 4% niacinamide and arbutin, whereas the ISOI Blemish Care Serum features a mix of Bulgarian rose oil, arbutin and natural plant extracts. It's interesting to note that although the branding concept is derived from their concept ingredients (green tangerine and rose), they contain other supplementary ingredients such as niacinamide and arbutin to help boost the brightening effects and fade dark spots. Contrary to popular belief that vitamin C or retinol (or even bakuchiol) makes the best brightening serums, 2024's ranking shows that even without the coveted retinol or vitamin C, they can shine too. It could also be due to the fact that retinol and vitamin C tend to irritate the skin, hence K-beauty formulators developed a gentler mix such as these to meet the needs of sensitive skin types.

TIP: When you're creating a line of skincare, consider using a concept ingredient that is featured in every product in that line. This creates a line that stand out and make heads turn. These concept ingredients (such as green tangerines and rose) can be known for the effects you claim to deliver, but it's also important to evaluate the need of including other more effective ingredients that actually make the formula work.

Best Cream / Moisturizer

1. Aestura Atobarrier 365 Cream

2. Dr.G R.E.D Blemish Clear Soothing Cream

3. La Roche Posay Cicaplast Baume B5

These three Korean face creams/moisturizers have a striking similarity—they are formulated to repair, soothe or strengthen the skin barrier. They've gone beyond the basic function of a cream/moisturizer which is to hydrate and moisturize. The Aestura Atobarrier 365 Cream features a mix of ceramides to help rebuild the skin barrier, whereas the Dr.G R.E.D. Blemish Clear Soothing Cream and the La Roche Posay Cicaplast Baume B5 both feature a common ingredient, centella asiatica, which is known to soothe, heal and relieve skin irritations.

TIP: If you're creating a cream/moisturizer, consider your target audience and what messaging resonates with them the best. For drier, colder climates, a moisturizer with soothing benefits or barrier-strengthening benefits may resonate with your audience better than a lightweight gel-type moisturizer that absorbs well. For warmer, humid climates, a moisturizer that absorbs well and leaves no sticky finish behind may resonate better than a thick cream. On top of that, you can consider adding concept ingredients to stand out, such as snail mucin, peptides, niacinamide, etc.

Best Face Mask

1. Torriden Dive-in Low Molecular Hyaluronic Acid Mask

2. Mediheal Tea Tree Essential Mask

3. Biodance Bio-Collagen Real Deep Mask

Among these three Korean face masks, the Biodance Bio-Collagen Real Deep Mask is relatively newer than the others, but what makes them so successful in rising to the top within such a short time? The answer is simple. Biodance created a ground-breaking mask that is different from its predecessors that feature a basic cotton sheet soaked in beneficial ingredients. As Biodance is quoted from their website, "The Collagen and Cera-nol Masks are hydrogel mask types made by solidifying highly concentrated essence into a gel. As time passes, you will notice the mask becoming increasingly transparent as the active ingredients are absorbed by the skin in response to your body temperature."

TIP: Korean face masks have a very high MOQ to produce. It typically starts with 50,000pcs, but with MAYK's exclusive partnerships, the MOQ can be lowered to 20,000pcs. If you're looking for Korean skincare manufacturers to create innovative face masks, I'd recommend you to start with a custom formulation service at $199.

Best Toner Pads

1. Mediheal Madecassoside Blemish Pad

2. Skinfood Carrot Carotene Calming Water Pad

3. ANUA Heartleaf 77% Clear Pad

Best Cleanser

1. Manyo Factory Pure Cleansing Oil

2. Bioderma Sensibio H2O

3. beplain Mung Bean pH-Balanced Cleansing Foam

Best Sun Care

1. Round Lab Birch Juice Moisturizing Sun Cream

2. d'Alba Waterfull Tone-Up Sun Cream

3. Dr.G Green Mild Up Sun+

Hair Care

Best Shampoo

1. Labo-H Hair Loss Relief Shampoo

2. Unove Deep Damage Repair

3. Dr.FORHAIR Folligen Shampoo

Best Hair Care Product

1. Unove Deep Damage Treatment EX

2. Mise-en-scene Perfect Serum Original

3. Growus Damage Therapy No Wash Treatment

Body Care

Best Body Moisturiser

1. Illiyoon Ceramide Ato Lotion

2. Derma:B Daily Moisture Body Lotion

3. Bioderma Atoderm Cream

Best Body Cleanser

1. Tree Hut Shea Sugar Scrub (Moroccan Rose)

2. Illiyoon Ceramide Ato 6.0 Top to Toe Wash

3. Leivy Goat Milk Body Wash

Best Lip Care Product

1. Bioderma Atoderm Lip Stick

2. Torriden Solid In Ceramide Lip Essence

3. Y.N.M. Rainbow Honey Lip Balm

Trends

Slow Aging

• COSRX The Vitamin C 23 Serum

• Numbuzin No.5+ Vitamin Concentrated Serum

• Bioheal BOH Probioderm Collagen Remodeling Serum

• d'Alba White Truffle Serum & Cream Modeling Mask

• Primera Youth Radiance Vitatinol Serum

Clean Beauty

• beplain Mung Bean Pore Tight Up Serum

• Make P:rem Safe Me Relief Moisture Cleansing Milk

• S.Nature Aqua Squalane Serum

• Goodal Heartleaf Hyaluron Soothing Cream

• Round Lab Pine Calming Cica Ampoule

Rising Star

• ilso Super Melting Sebum Softener

• Dear Dahlia Petal Drop Liquid Blush

• Bring Green Tea Tree Cica Pore Clay Pack Strong

• Colorgram Milk Bling Heartlighter

What Makes Olive Young Winners So Popular?

The products that win Olive Young Awards are much more than bestsellers—they’re trusted staples in millions of skincare routines. What sets them apart?

1. Innovative Formulations
   Korean manufacturers are renowned for creating groundbreaking products with unique ingredients and advanced technologies. Take the Round Lab 1025 Dokdo Toner, enriched with deep-sea minerals and soothing panthenol, or the Goodal Green Tangerine Vita-C Serum, packed with potent vitamin C derivatives. These formulations deliver real, noticeable results.

2. Consumer-Centric Design
   The winners cater to evolving consumer demands—whether it’s gentle, hydrating formulas like the Aestura Atobarrier 365 Cream or eco-conscious and cruelty-free products like the Torriden Dive-In Hyaluronic Acid Mask. Products designed for convenience such as the Mediheal Madecassoside Blemish Pads are also taking over the charts.

As you consider creating your own skincare brand, these examples highlight the importance of balancing effectiveness, innovation, and consumer convenience.

How MAYK Helps You Create Award-Worthy Products

At MAYK, we specialize in helping you craft high-quality private label skincare products inspired by the very trends that dominate the Olive Young Awards.

By working with trusted Korean manufacturers (who also produce some of these award-winning products), we ensure your products meet the highest standards of performance and innovation.

Here’s how we can help you:

• Ingredient Innovation: Access to trending and proven ingredients, from brightening vitamin C and niacinamide to hydrating hyaluronic acid and ceramides.

• Customizable Formulations: Create products tailored to your target audience—whether they prioritize hydration, anti-aging, or blemish care.

• Ethical and Sustainable Practices: We can incorporate clean beauty principles like cruelty-free testing, vegan formulations, and eco-friendly packaging.

• Scalable Manufacturing: Whether you’re launching a boutique line or planning for large-scale distribution, our manufacturing solutions are designed to grow with your brand.

Take Inspiration from the 2024 Olive Young Awards Winners

Here are some key insights from this year’s winning products to guide your private label journey:

1. Hydration is King
   Products like the Round Lab Birch Juice Moisturizing Sunscreen and the Torriden Dive-In Hyaluronic Acid Mask highlight the ever-growing demand for intense hydration. Consider incorporating multi-layer hydration complexes or unique ingredients like birch sap into your formulations.

2. Barrier Repair is a Priority
   With products like the Aestura Atobarrier 365 Cream dominating the awards, it’s clear that consumers are seeking solutions to repair and strengthen their skin barriers. Look into ceramides, fatty acids, and lipid complexes for your formulations.

3. Gentle Yet Effective Exfoliation
   The popularity of the Mediheal Madecassoside Blemish Pads shows that consumers want non-irritating solutions for blemishes and uneven skin tone. Ingredients like centella asiatica and niacinamide are a must.

4. Sun Protection is Non-Negotiable
   With sunscreens like Round Lab Birch Juice Moisturizing Sunscreen leading the way, it’s clear that consumers prioritize high SPF, lightweight textures, and multitasking benefits like hydration and brightening.

Why Choose MAYK for Your Private Label Journey?

The global demand for K-beauty continues to rise, and offering your own line of skincare products made in Korea is a powerful way to stand out in the beauty market. With MAYK, you gain access to:

• Korea’s Leading Manufacturers: Work with the same manufacturers behind many Olive Young Award winners.

• Tailored Solutions: Whether you want to replicate a trend or carve out a niche, we guide you through every step of the product development process.

• Global Market Insights: Leverage our expertise to create products that appeal to both local and international audiences.

• Competitive Pricing: Achieve premium quality without the premium price tag, ensuring strong margins for your business.