MILAN — The Italian beauty industry continues to gain popularity and the positive momentum is expected to continue.
According to preliminary figures released on Thursday by the national association Cosmetica Italia, the turnover of Italian beauty companies grew by 13.3 percent in 2023 compared to 2022, reaching the milestone of 15 billion euros. Forecasts show a further increase of 9.8 percent in 2024, with turnover expected to amount to 16.5 billion euros.
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The performance is in line with the global trend: Benedetto Lavino, president of the association, said the global beauty industry is “experiencing a very strong acceleration.” According to this research, global sales of beauty products grew by 6.9 percent to 567 billion euros in 2023. Lavino also said that an increase of around 8 percent is expected in the period 2022-2027, compared to the growth of 4.6 percent that was registered in the period 2017-2022. .
Specific to Italy, exports have been a key sales driver, accounting for 46.4 percent of total sales and increasing by 19.5 percent to 7 billion euros in 2023 compared to 2022. Europe was the first destination for Italian beauty products and accounted for 61 percent of the total. exports, followed by America and Asia, each representing 18 percent of the total.
Such an increase puts the beauty segment at the top of the rankings of Italian industries with the highest export growth, ahead of categories such as boats and yachts, jewelry and glasses. In terms of value, beauty exports rank seventh, while fashion tops the rankings with exports totaling €19 billion.
“These figures further confirm that this sector is one of Italy’s industrial engines. They show that it generates value for the entire country and needs to be further supported by institutions,” said Lavino, adding that exports of beauty products are expected to grow by 12 percent in 2024.
Growth was reported across all distribution channels in the domestic market, with the best performance recorded by perfumeries, where sales grew by 12.6 percent and are expected to increase by a further 11.4 percent in 2024. Perfumeries came in second after mass market, where sales grew by 8 percent. and were followed by pharmacies and e-commerce, where sales increased by 7.4 and 12.5 percent respectively.
The overall growing demand for fragrances will boost what promises to be a vibrant edition of Esxence, the Milan-based show dedicated to niche perfumery that will open the season of the sector’s fairs in the country.
The fair runs from March 6 to 9 and returns to the venue of the Allianz MiCo-Milano Convention Center to host its 14th edition. The fair will double its show area to 150,694 square meters to accommodate a record 360 exhibitors from 30 countries, including new countries such as Australia, South Korea and Estonia.
Companies will be divided into the two Main Brands and Spotlights sections, the latter of which presents emerging players. Although its impact on overall sales is still limited, the artisanal perfumery segment in Italy achieved a turnover of approximately EUR 310 million last year, accounting for more than 14 percent of sales generated in perfumeries.
Esxence is closely followed by the 55th edition of the leading beauty fair Cosmoprof Worldwide Bologna. From March 21 to 24, the fair is also growing, with a 4 percent increase in the number of exhibitors compared to 2023. More than 3,000 companies from 67 countries – 40 percent of which are from outside Europe – will meet in Bologna. Of the total number of exhibitors, 35 percent of companies will be attending the fair for the first time and five of the 30 country pavilions will make their debut this year, including Estonia, Norway, the Pacific Islands, Palestine and Singapore.
“The fairgrounds are sold out and we had to implement additional structures outside to meet all the requests,” Enrico Zannini, general manager of BolognaFiere Cosmoprof, said at a special press conference on Wednesday.
In terms of layout, he says the fair will continue to divide different areas into different categories, but unlike in the past, all pavilions will open on the same day. “It is an important and strategic decision, taken in consultation with the exhibitors, to further maximize the visits of all operators during those days,” said Zannini.
In particular, the Cosmopack cosmetics packaging fair will last three days, with an 8 percent increase in the number of exhibitors compared to 2023. This will include international companies from different parts of the supply chain, such as contract manufacturing and private labels, process and packaging machinery. , primary and secondary packaging, applicators, ingredients and raw materials.
Coinciding with Cosmopack, Cosmo Perfumery & Cosmetics will present 43 percent of the total number of exhibitors, including makeup, skincare and fragrance brands operating in the mass market, prestige and masstige sectors. Indie brands highlighted in the Extraordinary Gallery, as well as in preview editions.
Specializing in products and services for the professional channel, exhibitors spotlighted at Cosmo Hair & Nail & Beauty Salon – which instead closes on March 24 – will represent 38 percent of the total number of companies at the fair.
Cosmoprof Worldwide Bologna is the flagship event within the international Cosmoprof platform, which includes events in Hong Kong, Mumbai, Las Vegas, Bangkok and, from this year, Miami. Zannini said that from 2025, Cosmoprof will also integrate the SANA Beauty event to give international visibility to the organic and natural cosmetics industry.
Rounding out Italy’s beauty calendar, Milano Beauty Week returns from September 25 to 29, right after the city’s fashion week. The consumer-oriented beauty event, a brainchild of Cosmetica Italia in collaboration with the Cosmoprof and Esxence trade shows, was introduced in 2022 with the mission to further raise awareness around the social and economic role that the national cosmetic industry plays in the country.
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