Hyaluronic acid producers benefit from beauty boom

Domestic players see their market share grow as price-sensitive Chinese consumers favor cheaper products for cosmetic surgery and treatment

In late 2018, the release of a lipstick collection in six colors by the Palace Museum in Beijing provoked enormous excitement among fashion lovers.

All the lipsticks were inspired by objects from the Palace Museum collection, and although each lipstick was priced at 199 yuan ($29), much higher than those of many domestic brands, more than 1,000 were sold within hours of their release.