Huge export increase in Taiwan’s Hidden Champions Beauty Industry

Taiwan’s beauty industry is one of the fastest growing industries with export potential in recent years. The total volume of Taiwan’s cosmetics exports has grown by 14% on average over the past five years. Even though the beauty industry has faced a financial crisis, it has overcome the challenges to continue growing. Taiwan's production of beauty masks ranks #1 worldwide, accounting for 17% of global beauty mask production. Businesses in Taiwan’s beauty industry have accumulated many years of experience at being original equipment manufacturers (OEM) for international cosmetics businesses. These manufacturers in Taiwan have now earned recognition from international companies for outstanding product quality and high-skilled techniques. In addition, many businesses in Taiwan have used their energy and creativity to establish their own brands. These brands have not only earned support from local customers but have also attracted fans from abroad, and have become popular souvenirs for foreign visitors.