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