China’s cosmetics brands, stepping out of K-beauty’s shadow, set sights on global markets

South Korea's cosmetics industry has experienced significant growth, becoming the world's second-largest exporter due to the popularity of K-pop and K-dramas. However, China's cosmetics industry is expanding its global presence, driven by strong domestic demand and increased exports. From January to November 2023, China's cosmetics exports reached $3.99 billion, an 8.7% increase year-over-year, while South Korea's exports were $10.3 billion, an 11.8% increase. While South Korea's exports remain higher, the gap is narrowing, and China's cosmetics imports have decreased, indicating growing domestic brand popularity. Experts suggest Chinese beauty brands may already exceed K-beauty in value and consumer reach due to the scale of local demand.

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