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Indispensable and indispensable. Cosmetics know no crisis: the sector will close the year with a turnover of 14.8 billion euros, up 10.9% and a projection for 2024 of just over 16 billion (+8.5% compared to 2023) with exports that at the end of this year will reach the record value of 6.7 billion, an increase of 15% and with a further increase of 10% in 2024. Results that demonstrate the resilience and inelasticity of a industry capable of creating value for the entire country system. Domestic consumption is also rising and should reach 12.4 billion at the end of the year (+8.2% compared to 2022), with growth forecasts of 5.8% for 2024. Every person, throughout the day , uses on average eight cosmetic products, satisfying different but complementary needs: deodorants and soaps, shampoos and toothpastes for hygiene, make-up and perfumes to feel better and treat yourself to a pampering, face and body creams to improve your well-being.
Behind this positive trend is the commitment of companies along the entire supply chain (from formulators to subcontractors, from distributors to packaging producers) who are increasingly pushing investments in the direction of innovation and sustainability.
This is discussed in the Beauty Special on newsstands with Il Sole 24 Ore on Tuesday 24 October: 24 pages with insights on the most relevant topics. Like exports, the driving segment of the development of the Made in Italy beauty industry, especially towards the United States, France and Germany, but also India and Asia which represent the new frontiers of development abroad. Furthermore, a focus is dedicated to sustainability, which has now become an integral part of companies’ strategies, and another to the ability to innovate of the protagonists of the sector who invest in R&D on average double that of Italian manufacturing. Factors that make companies extremely competitive on a global level, as demonstrated by the fact that 55% of make-up products consumed in the world are manufactured in Italy;
a figure that rises to 67% if we look at the European market.
There is no shortage of challenges and opportunities for growth, therefore, and companies are ready to seize them, as small or large Made in Italy and foreign excellences tell in the pages of this special, which ends with a roundup of the new products on display – from make-up to skincare up to perfumes and home fragrances – in view of Christmas.