by MILAN – The Italian beauty industry continues to pull, and the positive momentum is expected to continue.
According to preliminary figures released on Thursday by the national association Cosmetica Italia, sales generated by Italian beauty companies in 2023 will grow 13.3 percent compared to 2022, hitting the 15 billion euro milestone. Projections show a further increase of 9.8 percent in 2024, with sales expected to reach 16.5 billion euros.
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The performance is in line with the global trend – the president of the association Benedetto Lavino said that the global beauty industry is “getting used to a very strong acceleration.” According to this study, global beauty sales will grow by 6.9 percent to 567 billion euros in 2023. Lavino also said that an increase of about 8 percent is expected in the period 2022-27, compared to the growth of 4.6 percent first registered in the period 2017-22. .
For Italy specifically, exports were the main driver of sales, making up 46.4 percent of total revenue and climbing 19.5 percent to 7 billion euros in 2023 compared to 2022. Europe was the first destination of beauty products of Italy and accounted for 61 percent of the total. exports, followed by the Americas and Asia, each representing 18 percent of the total.
Such an increase put the beauty sector at the top of the ranking of Italian industries with the greatest growth in exports, ahead of categories such as boats and yachts, jewelry and eyewear. In terms of value, beauty exports ranked seventh, while fashion topped the ranking with exports worth 19 billion euros.
“These figures also confirm that this sector is one of the industrial engines in Italy. They show that it generates value for the whole country and that institutions should further support it,” said Lavino, adding that beauty exports are expected to grow by 12 percent in 2024.
Growth was reported across all distribution channels in the domestic market, with the best performances registered by perfumes, where sales grew by 12.6 percent and are expected to increase by a further 11.4 percent in 2024. Perfumes were second only to in the mass market, where sales grew 8 percent, followed by pharmacies and e-commerce, where sales rose 7.4 and 12.5 percent, respectively.
The overall progressive demand for fragrances will fuel the triumphant edition of Esxence, the Milan-based show dedicated to niche perfumery that will open the industry fairs season in the country.
Taking place from March 6 to 9, the fair will return to the Allianz MiCo-Milano Conference Center venue to stage its 14th edition, doubling its exhibition surface to 150,694 square feet to accommodate the largest number of exhibitors 360 which will arrive from 30. countries, including new entries such as Australia, South Korea and Estonia.
Companies will be divided into two main divisions Brands and Spotlights, the latter of which showcases emerging players. Still maintaining a limited incidence of total revenue, in Italy the craft perfumery segment reached about 310 million euros in sales last year, which represents more than 14 percent of the sales generated in perfumery.
Esxence will be closely followed at the 55th edition of the leading beauty trade show Cosmoprof Worldwide Bologna. From March 21 to 24, the fair is also growing, reporting a 4 percent increase in the number of exhibitors compared to 2023. More than 3,000 companies from 67 countries will gather – 40 percent of them from outside Europe – in Bologna. Of the total exhibitors, 35 percent of the companies will be attending the show for the first time and five of the 30 country pavilions will be up and running this year, including Estonia, Norway, the Pacific Islands, the Palestine and Singapore.
“The fairs are sold out and we had to implement additional structures outside to satisfy all requests,” said Enrico Zannini, general director of BolognaFiere Cosmoprof at the dedicated press conference on Wednesday.
Regarding layout, he said that the fair will continue to allocate different areas to different categories, but contrary to that in the past all the pavilions will open on the same day. “It is an important strategic decision taken according to the exhibitors to maximize the visit of all the operators during those days,” said Zannini.
In particular, the Cosmopack cosmetics packaging trade show will take place over three days, with an 8 percent increase in the number of exhibitors compared to 2023. These will include international businesses from various parts of the supply chain, such as contract manufacturing and private labels, process machinery and packaging. , primary and secondary packaging, applicators, ingredients and raw materials.
Coinciding with Cosmopack, Cosmo Perfumery & Cosmetics will showcase 43 percent of the total exhibitors, including makeup, skin care and fragrance brands operating in the mass market, prestige and masstige sectors. Indie brands that will be featured in the Extraordinary Gallery area, as in preview editions.
Specializing in products and services for the professional channel, exhibitors highlighted at Cosmo Hair & Nail & Beauty Salon – which will close on March 24, instead – represent 38 percent of the total companies at the show.
Cosmoprof Worldwide Bologna is the most important event within the international Cosmoprof platform, which includes events in Hong Kong, Mumbai, Las Vegas, Bangkok, and, starting this year, Miami. Zannini said starting in 2025, Cosmoprof will also integrate the SANA beauty event to give international visibility to the organic and natural cosmetics industry.
At the end of Italy’s beauty calendar, Milan Beauty Week returns from September 25 to 29, right after the city’s fashion week. The vision of Cosmetica Italia in collaboration with the Cosmoprof and Esxence trade shows, the consumer-facing beauty event was introduced in 2022 with the mission of creating further awareness of the social and economic role of the national cosmetics industry in the country.
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