Tuesday, 12 March 2024 08:51

Cosmetics Industry Generates EUR 15 Billion Turnover in Italy: Cosmoprof Fair Coming to Bologna

More than 3,000 companies from 67 countries (+4% compared to last year) are participating in the cosmetics fair (March 21-24), a key event for the industry. Italy remains an excellence: 67% of make-up is produced domestically. The anti-cyclical nature and resilience are two factors aiding Italian cosmetics in thriving amidst international crises, with a turnover of EUR 15 billion recorded in 2023. "This value is primarily driven by exports, totaling EUR 7 billion, which increased by 19.5% compared to 2022: a positive trend that positions us at the forefront compared to other Made in Italy sectors," explains Benedetto Lavino, president of Cosmetica Italia, the national association of cosmetic companies. Italy ranks as the sixth-largest economic system in the cosmetics industry globally. Each individual uses at least eight cosmetics daily across all life stages, linked to hygiene, self-care, protection, and prevention. Italy's offerings are characterized by high standards of quality, safety, and innovation, highly appreciated in international markets. Per Istat data for 2022, the most exported products include perfumes, skincare cosmetics, hair care products, makeup, and skincare products. Notably, quality, safety, and compatibility with one's skin are among the main consumer purchasing drivers globally.


 The 55th edition of Cosmoprof Worldwide Bologna, in partnership with Cosmetica Italia, will debut on Thursday, March 21, closing on Sunday, March 24. Cosmopack, dedicated to the supply chain, and Cosmo Perfumery & Cosmetics, hosting companies and retail operators in the fragrance and cosmetics sector, will be operational until Saturday, while Cosmo Hair & Beauty salon will close on Sunday. Over 3,000 companies from 67 countries (+4% from 2023) are confirmed to attend, with 58% of exhibitors from Europe and 42% from non-European countries. Remarkably, 35% of total exhibitors are new compared to 2023. The event's international appeal is evident with 30 pavilions representing countries like Australia, Brazil, China, South Korea, France, Germany, Japan, Greece, India, Indonesia, Ireland, Latvia, Poland, Spain, Sweden, Ukraine, UK, Taiwan, Czech Republic, Romania, Turkey, and the USA. Notable additions compared to 2023 include Estonia, Norway, Pacific Islands, Palestine, and Singapore. Expected visitors from over 110 countries reflect market confidence and optimism globally. Collaboration with the Ministry of Foreign Affairs and International Cooperation and ICE - Italian Trade Agency will facilitate the participation of over 90 delegations with major importers, distributors, and retailers worldwide, reflecting global market confidence and optimism.

Source: https://www.corriere.it/economia/eventi/24_marzo_11/cosmetica-giro-d-affari-da-15-miliardi-in-italia-a-bologna-in-arrivo-la-fiera-cosmoprof-f0d55b3b-e783-4f25-8c3b-f9d9ec629xlk_amp.shtml

 

 

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