Is Makeup Industry In Europe Competitve

NEWS > thirty Apr 2021

The cosmetics marketplace in Europe: today's challenges, tomorrow's opportunities

Despite not having a lengthy history, the European Union has established itself equally one of the top economic powers in just 15 years, ranking alongside the United states of america and China for its function in international commerce.

Europe is a cardinal market place for the cosmetics industry. In 2019, the total value of the sector was more than $123 billion. In 2020 the global pandemic, which dealt a heavy blow to many of the 27 Member States, brought that figure down iii.5% to $118.viii billion and seems to have triggered longer lasting consequences compared to other regions. Forecasts by Euromonitor International, international market research company, expect a slow recovery in 2021, with a total value of just over $119 billion (+0.1% compared to 2020, -3.three% compared to 2019), and fifty-fifty in 2022 pre-COVID figures will still seem distant. In fact, Euromonitor analysts await revenue to reach $120.2 billion adjacent year, -2.three% compared to 2019.

Consumption on the European continent will be driven by mass beauty: in 2021 the category will reach $69.7 billion, +0.3% compared to 2020. With the outbreak of the pandemic, the sector experienced a moderate dip (-0.5% compared to 2019). Meanwhile, COVID-19 had a marked impact on Premium dazzler: from being worth $34 billion in 2019, Euromonitor expects the category to be worth $30.4 billion at the end of 2021, a 12.2% loss. Skincare is 1 of the best performing categories in Europe and is responding well to the post-COVID transformation: in 2022 skincare will surpass $27.5 billion, re-aligning with 2019 levels.

Iv of the 27 Fellow member States are major powerhouses, with yearly market value in the double digits, and Western Europe is leading the unabridged continent toward recovery, bookkeeping for some fourscore% of the total yearly revenue. Of these, Deutschland is the leader, with $nineteen.3 billion at the cease of 2020. Adjacent is the United kingdom of great britain and northern ireland, which experienced a full general downsizing after Brexit in 2020 (Read HEREBrexit: what impact volition information technology have on the beauty industry?). French republic closed 2020 at a niggling over $fourteen.four billion, while acquirement in Italy, the fourth market in Europe, was $11.3 billion, -12.8% compared to 2019. Revenue in Italy was especially hit by the decrease in exports (-16.5%), simply the sector is seeing of import signs of recovery. Cosmetica Italia, a national association of cosmetics industries, predicts +6.ane% growth betwixt 2020 and 2021, with a 5% increase in exports.

To return to significant economic growth, the EU is preparing imposing digital, environmental, and social re-qualification projects that will limit differences between Member States, creating a more compact organism that can address a irresolute market with greater unity and dominance.

All data and insights are proprietary data from Euromonitor International.

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Source: https://www.cosmoprof.com/en/media-room/news/the-cosmetics-market-in-europe-todays-challenges-tomorrows-opportunities/

Posted by: schroederfrossuche.blogspot.com

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