July 11, 2017
European Cosmetics and Personal Care Market Slows in 2016
While the European cosmetics and personal care industry grew to 77 billion euros in 2016, the growth was much slower than in recent years, according to figures released by Cosmetics Europe.
Sales increased only 0.8 percent in 2016, compared to 3.1 percent in 2015 and 2.1 percent in 2014. Denmark recorded the greatest recession (-14.3 percent), followed by the United Kingdom (-11.4 percent), which was impacted by both the Brexit vote and the fall of the British pound. France, Italy, Germany, Spain and Norway were among the 18 countries achieving positive growth for the year.
Even with the slow growth, Europe (EU28 plus Norway and Switzerland) remains the leading producer of cosmetic products. The United States ranked second in 2016 with 64 billion euros, followed by China (€41 billion), Brazil (€24 billion), Japan (€22 billion), India (€10 billion) and South Korea (€9 billion).
Sales in product categories were all down from 2015, with the exception of makeup, which achieved 0.8 percent growth. Hair care products saw the greatest decrease, at -2.4 percent; fragrances and perfumes (-2.1 percent), skin care (-0.9 percent) and toiletries (-0.6 percent) were all down.
Skin care (25.7 percent) and toiletries (25.0 percent) remain the biggest product categories, followed by hair care (19.2 percent), fragrances (15.8 percent) and decorative cosmetics (14.3 percent).
Nearly €18 billion worth of cosmetic products were exported in 2016, with France, Germany, Italy and Spain being the largest exporters.