The Asian superpower has become a key country for the cosmetics industry, here is why Chinese consumers are spending more on beauty than ever
With China tipped to topple the US as the leading cosmetics market, Asian male consumers at the forefront of grooming and anti-pollutant products booming, Asia is the most exciting place for beauty right now.
China’s cosmetics industry is challenging the country’s stagnant economy as the sector was worth CNY 204.9bn last year, up by 12.3% in 2015 and is estimated to soar to CNY 338bn by 2020, according to international market research group Mintel.
So what is the secret behind China’s blossoming beauty industry?
There is a strong consensus across China that make-up is a useful technique to boost confidence, and at the same time, show respect for others.
This ethos is particularly true for lipsticks, as Mintel has revealed the category is now . . .
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