Five hundred million European consumers use cosmetics and personal care products, according to data presented during Cosmetics Europe Week in Brussels, which took place June 13–17. Yet challenges remain.
The European industry’s export market totaled 17.2 billion euros in 2015, according to the research, with France and Germany holding 53% of the total global exports. The sales supported more than 2 million cosmetics industry jobs, 56% of which are held by women and 44% of which are held by men.
Both big and small companies are aiding Europe’s industry, which features 4,605 SMEs. The industry supports 26,000 scientists with a diverse range of scientific disciplines.
While trends like globalization help the cosmetics industry, major global trends like digitalization, individualization and resource consciousness help lead the European cosmetics industry toward a positively growing future.
“Our industry remains strong and shows signs of growth despite trying economic circumstances,” said Loïc Armand, president of Cosmetics Europe. “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.”