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Markets & trends

Italy: A vigorous cosmetics industry

Despite a struggling domestic market, the Italian cosmetics industry is growing at a steady pace driven by buoyant exports. In 2017, Italian cosmetics makers achieved a global turnover of about 11 billion euros (+4.4% from 2016), mainly driven by exports which reached 4.617 billion euros in 2017 (+7.1% from 2016) and forecasts are good for 2018 too.

While the Italian cosmetics market ranks fourth in Europe after Germany, France and the United Kingdom, the country is the third European exporter (after France and Germany).

France, Germany and the USA are the main buyers of Italian cosmetic products. (Source : Cosmetica Italia)

France, Germany and the USA are the main buyers of Italian cosmetic products. (Source : Cosmetica Italia)

Make-up is undoubtedly the main asset of the Italian cosmetics industry. “About 60% of the make-up distributed throughout the world is produced in Italy,” claims Cosmetica Italia, the trade association representing the peninsula’s beauty industry. However, alcoholic perfumery represents an even larger share of Italian exports, in value, while hair products are the third leading category of the Italian cosmetics industry.

Perfumes, make-up and haire care are the main assets of the Italian cosmetics industry on foreign markets. (Source: Cosmetica Italia)

Perfumes, make-up and haire care are the main assets of the Italian cosmetics industry on foreign markets. (Source: Cosmetica Italia)

In 2017, for the eighth consecutive year, exports recorded a substantial increase, exceeding 4.6 billion euros, increasing by 7.1% compared to 2016.

Exports are the main driver of the Italian cosmetics industry.

Exports are the main driver of the Italian cosmetics industry.

According to estimates by Cosmetica Italia, the overall growth of the sector should be 4.5% in 2018, allowing the industry to achieve a global turnover of 11.5 billion euros. Exports should continue to play a key role as export sales are expected to grow by 8% to reach about 5 billion euros.

The figures are all the more remarkable as the internal market remains fragile with a growth forecast of 1.9% in 2018.

The Italian beauty market is expected to grow by 1.9% in 2018, according to Cosmetica Italia

The Italian beauty market is expected to grow by 1.9% in 2018, according to Cosmetica Italia

Thanks to the quality and efficacy of its offer, the Italian cosmetics industry responds with competitiveness to a domestic and international scenario that is dramatically changing, as regard as the consumer demand and the retail structure,” said Renato Ancorotti, president of Cosmetica Italia. “The companies in the sector confirm their capacity to invest in research and innovation, key factors of success in the markets,” he concluded.

V.G.

© 2018 - Premium Beauty News - www.premiumbeautynews.com
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