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Chinese cosmetics market is the third largest in the global cosmetics industry only after Europe and the United States of America. With an approximate annual growth of 10%, the total value of the Chinese Cosmetics market retail segment is reported to be 260 billion yuan in the year 2018.
The Korean beauty market is valued at USD 13 billion, making it one of the top 10 beauty markets in the world and offering a pool of business opportunities for manufacturers. Most of the brands are successful in South Korea because rather than sticking to the classic brands, consumers prefer trying new products to suit their daily skin care routine.
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