Trends of the Italian cosmetic industry
Companies and consumers overtake the crisis while the marketexceed 9.400 millions in value
Italy’s cosmetic industry has been able to withstand the recession better than other non-durable goods sectors in terms of both production and adapting to changing consumer habits, according the 2015 “Beauty Report”, a study complied by Cosmetica Italia, the national trade association.
Italy is at the end of a cycle that has demonstrated how the Italian cosmetic industry is able to position itself better than the other industries with non-durable goods, and at the same time, despite the crisis, increase its competitiveness on the markets. Once again, the Italian industry was driven by the growth of exports. Purchasing habits of Italian consumers are changing, with the direct sales showing above average growth (+2.8%), continuing the positive trend of the last few years. Sales in herbalist stores also grew by 2.4% (to reach almost 420 million euros), and sales in pharmacies, which represent 18.9% of the total Italian market, grew by +1.1% reaching 1,776 million euros.
During 2014 the economy in Italy remained weak, despite showing slight signs of improvement. A high unemployment rate, especially amongst the younger generations, coupled with high uncertainty about the future and high taxation rates, hindered consumer spending on beauty and personal care products.
From a macro-economic point of view, after the standstills of the last few years, the Italian economy will encounter a moderate improvement by the end of 2015, even if certainly inferior compared to the European average. The economic picture remains generally weak and t ... ...