Driven by exports and the recovery of national consumption, the Italian cosmetics industry regained and exceeded its pre-pandemic production levels in 2022. According to Cosmetica Italia, the country’s beauty companies achieved a total turnover of 13.3 billion euros in 2022, up 12.1% compared to 2021. The rise is expected to continue in 2023, with a forecast growth of 7.7% compared to 2022.
According to preliminary data unveiled by Cosmetica Italia at Cosmoprof Worldwide Bologna 2023, the cosmetics industry in Italy achieved a turnover of EUR 13.3 billion in 2022, an increase of 12.1% compared to the previous year. As expected, the cumulative growth of 2021 and 2022 brought the industry to levels exceeding (by 10.5%) the level reached in 2019, before the pandemic.
Looking to 2023, Cosmetica Italia forecasts a growth of 7.7% that should bring the total turnover of the industry to EUR 14.4 billion.
Sharp increase in exports
In 2022, the growth of the Italian cosmetics industry was driven mainly by exports, which reached 5.9 billion euros, representing a growth of 18.5% compared to 2021. Exports, which represent 40% of the total turnover of the Italian industry, should continue to drive the growth of the sector in 2023, with an expected increase of 10%.
The top 3 destination countries for Italian cosmetics in 2022 were the United States, ahead of France and Germany. Non-European countries represent 38% of total exports. Note, within the top 10, the impressive growth of the United Arab Emirates: +60.7% in 2022 compared to 2021.
“If questions persist about the availability and cost of raw materials or the increase in energy prices; the sector is solid, mature and competitive,” commented Benedetto Lavino, President of Cosmetica Italia.
Positive trend on the home market
The trend was positive for the Italian market too, where sales exceeded 11.5 billion euros in 2022, an increase of 8.1% compared to 2021.
Mass market remains the predominant circuit (approximately 42% market share), while perfumeries strengthen their second position (19.3%), followed by pharmacies (17%). E-commerce, thanks to the strong acceleration resulting from the lockdowns, has almost doubled in size since 2019, reaching 8.6% of the total Italian cosmetics consumption in 2022. Next come hairdressing (5.1%), herbal medicine (3.3%), direct sales (3%) and aesthetics (1.9%).
“The data shows a full recovery and an overshoot of pre-pandemic numbers. At the same time, data are outlining new buying habits, increasingly multi-channel oriented,” analyses Gian Andrea Positano, head of the Centre for Studies at Cosmetica Italia.
In the consumer basket, face care (16.4%) and body care (15.3%) products, as well as alcoholic perfumery (13.6%) remain the main categories of the Italian market.
The changes in demand between 2022 and 2021 show strong demand for lip care products (+21.4%), face make-up (+18%), alcoholic perfumery (+16.3%) and eye make-up (+11.7%). Further confirmation, according to Cosmetica Italia, of a return to normal sociality after the restrictions imposed by the pandemic.
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