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Markets & trends

The European cosmetics market slows down in 2016

2016 saw the European cosmetics and personal care industry - already a major contributor to the European economy - continue to grow to reach 77 billion euros. However, growth was much slower in 2016 than in 2015, due in particular to a fall in the UK market in the wake of the linked to the Brexit vote and the fall of the British pound which followed.

Europe remains the global flagship producer of cosmetic products. In 2016, the European cosmetics market was valued at EUR 77 billion, making Europe the largest market for cosmetic products in the world.

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However, growth in the European market has slowed significantly in 2016 compared to 2015, according to figures released by Cosmetics Europe.

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Several countries recorded a significant recession, in particular Denmark (-14.3%) and the United Kingdom (-11.4%).

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As far as products are concerned, all categories are down from 2015, with the exception of makeup (+ 0.8%).

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Skin care and toiletries remain the most important product categories in Europe, followed by hair care and fragrances.

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In the context, international trade is a critical component of the industry. Nearly EUR 18 billion worth of cosmetic products were exported from the European Union in 2016. Such exports are particularly important in countries strongly affected by the Euro crisis (such as Spain and Italy) where the cosmetics sector is helping to secure national economic recovery.

France and Germany, followed by Italy and Spain are the main European exporters of cosmetic products.

Vincent Gallon

© 2017 - Premium Beauty News - www.premiumbeautynews.com
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