Cosmetica Italia has reported an exceptional national growth trend confirmed at €15 billion in 2023, expected to reach €16.5 billion in 2024.
Cosmetica Italia, the association representing the Italian beauty industry, has published its annual report on the cosmetic markets. It analyses 2023 data and forecasts the expected performance in 2024. Despite a lingering international crisis, the Italian hair & beauty industry is showing great results thanks to its resilience and ability to react promptly to market demand.
In 2023, despite the impact of inflated costs for raw materials, turnover reached €15 billion (+13.3% compared to 2022) and it is projected to reach €16.5 billion in 2024, representing +9.8% on 2023.
“2023 was a record year for exports in our sector, positioned above nautical, jewellery and eyewear,” explained the president of the association, Benedetto Lavino. “These are important data and have a positive impact for us.”
Since 2021, Italian beauty exports have been growing at an unbelievable rate scoring +19.5% in 2023, which equals a €7 billion turnover – a performance that is destined to continue in 2024, when exporters are expected to increase by 12%.
“The outlook reflects the dynamism of the sector, even in a scenario affected by a general slowdown in exports, the increase in costs and inflation,” continues Lavino.
Data also confirm an increasing trend towards hiring staff, consolidating investment in machinery and a slight increase in communication budgets. Enterprises are also increasing their efforts to digitise their processes with a growing interest in the application of Artificial Intelligence.
