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Industries – Beauty & Cosmetics
China is home to the world’s second-largest consumer market for cosmetics. Due to China’s influencer culture and the rise of livestreaming and short-video content, the demand for cosmetics products is at an all-time high in China. The quality of beauty and cosmetics products is also of growing importance to Chinese consumers and the industry is facing increased regulation about counterfeits and inflated sales figures. While international brands remain popular, the number and quality of domestic competitors are growing, as shown by Perfect Diary’s impressive rise to the top of China’s beauty and cosmetics market.