Cosmetics exceeds pre-Covid levels and continues to grow: according to the forecasts of Cosmetica Italia, the trade association, the sector should close this year with a turnover of 14.2 billion, an increase of 7.7% compared to 2022 which closed at 13.2 billion, with an increase of 9% compared to 2019, the pre-crisis year. The driving force behind the recovery is exports, which account for 42%: preliminary data on 2022 attest to a value of 5.6 billion (+15.8% compared to 2021), estimated at 6.2 billion (+10%) for 2023 Which brings the trade balance at the end of 2022 to touch the record level of 3.2 billion euros.
«In the context of a complex global scenario, the cosmetics sector too has to face challenges – comments the president of Cosmetica Italia Benedetto Lavino -. Cost (in 50.9% of cases) and availability of raw materials (in 20.8%), followed by higher energy prices (43.4%), are the issues that our entrepreneurs highlight as having the greatest impact. However, the reactivity of the Italian cosmetics industry is confirmed as demonstrated by the commitment to containing prices in a heavy inflationary context and by a growing attention towards non-European export destinations which represent 38% of sales abroad totals. The constant propensity to invest in strategic levers also remains fundamental».
Positive performance also for the domestic market which last year reached 11.6 billion euros (+8.9% compared to 2021) with the forecast of reaching 12.3 billion euros (+6.3% on 2022) this year. In particular, the growth dynamics of e-commerce is confirmed which, with a value of one billion euros (+13.4% according to the preliminary results for 2022, +12% for the first half of 2023) is the fourth cosmetics sales channel .
Large-scale distribution remains the protagonist with 42.5% of purchases – equal to almost 5 billion – with an increase of 8.2% in 2022 and a forecast of +5.1% for the first six months of 2023. Followed by perfumery – which grows by 16.5% and will continue to do so this year with +11% – and, in third place, the pharmacy (+4.8% in 2022, +3.2% in the first half of 2023) . The professional hairstyling channel also performed well (+7% and +5.5%). The trends in herbal medicine and direct sales (door-to-door and by mail) were more moderate, which at the end of 2022 were respectively +0.5% and +1.2% (+1.3% and 1.5% for 2023). Finally, the professional beauty channel which indicates a +4.5% in the preliminary balance for 2022 and projects a +5.5% for the start of 2023.
«We detect a sort of “distributive effervescence”, similar to what happened twenty years ago with the arrival of single-brand stores – comments Gian Andrea Positano, head of the Cosmetica Italia Study Center -. The beauty purchasing path is increasingly evolving from a multi-channel perspective. In particular, alongside the consolidation of online sales, 2022 has seen the return of consumers to physical stores, even with the opening of specific beauty stores. There are ample opportunities to create engaging shopping experiences, able to integrate digital tools, responding to new needs».