Outlook positive as the cosmetics and personal care industry returns to growth
- Last updated: June 13, 2016
On the occasion of the third annual Cosmetics Europe Week “Personal Care in a Changing World” taking place from 13-17 June 2016, in Brussels, the European cosmetics and personal care industry has announced positive growth.
Loïc Armand, President of Cosmetics Europe, said “Our industry remains strong and shows
signs of growth despite trying economic circumstances. Valued at 77 billion Euros, Europe remains the largest market for cosmetic products in the world. But we should not be complacent. Business is global and to remain competitive in the global market place, we need a Europe that facilitates science and innovation”.
A report prepared for Cosmetics Europe by Risk & Policy Analysts Ltd. (RPA) launched today shows that the “Socio-economic contribution of the European cosmetics industry” is unquestionable.
- The vast majority of Europe’s 500 million consumers use cosmetics and personal care products contributing to well being and healthy lifestyles, and positive self-esteem every day
- The European export market totalled 17.2 billion Euros in 2015, with France and Germany accounting for around 53% of total global exports from Europe
- The strength of the entrepreneurial cosmetics industry lies in its mix of both big and small companies: there are 4,605 SMEs in Europe and this number is growing
- At least 2 million jobs are supported across the European value chain, with 56% women and 44% men being employed in the cosmetics industry
- The sector is science driven with more than 26,000 scientists in the industry, covering a diverse range of scientific disciplines
As well as Globalisation, various dynamics of the fast changing world are impacting our cosmetics industry. At the forefront lie major global trends – Digitalisation, Individualisation and Resource Consciousness - which are reshaping consumer behaviour and driving new opportunities.
The third Cosmetics Europe Week marks 40 years of harmonized EU cosmetics legislation and will look ahead to the future and challenges posed by the regulatory environment and these major trends of our time. The Week kicks off with a keynote address to the industry by European Commissioner Elżbieta Bieńkowska, responsible for Internal Market, Industry, Entrepreneurship and SMEs. Additional speakers from the European Commission, SMEs and industry experts will elaborate on their view of harmonized EU Regulation and meeting the needs of a changing world.
“Our vision is of an industry in Europe that is well placed to meet the challenges of the future, and one which remains a flagship of the cosmetics industry worldwide. This is not something we can do alone. Broader cooperation between all stakeholders is paramount to develop partnerships for change and help maintain a supportive European policy and regulatory environment that will enable our industry to flourish and grow”, said John Chave, Director-General, Cosmetics Europe.
You can read more about our vision for the future in our “Partnership for Change” paper.