EU Personal Care Market Grows Amid Economic Recession

The European personal-care market continues to produce strong figures despite a poor economic climate, according to Cosmetics Europe, The Personal Care Association. Cosmetics Europe President Fabio Franchina addressed the association’s General Assembly last week, reporting that the market grew 0.8 percent year-over-year in 2012 for a total of EUR 72 billion (over USD $94 billion) in sales.

The EU leads the world in the personal-care market sector, with a share almost double that of the US and Japan markets combined. Franchina says that, although the industry has experienced the pains of recession, it continues to experience real growth. Much of that growth originates outside of Europe, with exports accounting for more than one-third of all production.

The General Assembly also discussed the European Regulation for Cosmetics legislation that will take effect on July 11, bringing the entire industry under a common regulatory framework. “The introduction of an EU Regulation for Cosmetics is a decisive step towards creating a strong, single-level playing field,” according to Cosmetics Europe Director-General Heerink. Heerink also says the legislation presents an opportunity for the industry to spearhead its own voluntary frameworks and encourage innovation and consumer protection.

Read more on the growth of Europe’s personal-care market.

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