COSMETICA ITALIA AT COSMOPROF NORTH AMERICA. Italian cosmetic exports to the US are taking off (+24.4%)

Las Vegas, 9 July 2017 – Today, the 2017 edition of Cosmoprof North America opens. Following Cosmoprof Worldwide Bologna and ahead of Cosmoprof Asia (which is set to take place in Hong Kong from 14 to 17 November), this edition of the trade fair will run from 9 to 11 July at the Mandalay Bay Convention Center in Las Vegas, following the successful format that BolognaFiere has exported around the world.

On the occasion of the American fair – the industry’s leading event in North America and the US in particular – Cosmetica Italia is investing in the event, developing communication and image-related initiatives in support of the business activities of the 47 participating Italian companies.

An Italian group participation composed of 14 different companies will be based in the Professional Beauty pavilion, to highlight the excellence of Italian cosmetics companies, and their competitiveness on an international level.

For the first time, Meredith Kerekes, head of the US Beauty Desk in New York, will be available for one-to-one meetings with companies that are interested in finding out more about the services and activities of the Special USA Project launched in collaboration with the ITA – Italian Trade Agency, with a view to boosting awareness of Italian cosmetic products in the country and creating business opportunities for Italian cosmetics companies.

In 2016, the United States was the third biggest importer of Italian cosmetics after France and Germany, with a significant growth of 24.4% compared to 2015 and value of 406 million euros. This value represents 87.6% of exports in the NAFTA area (Canada, Mexico and the United States).

As far as Italian products sold on the US market are concerned, one of the best performing areas was make-up: with an export value of over 106 million euros, this area accounts for almost 27% of Italian exports to the US. Equally successful were alcohol-based perfume products, which generated 97 million euros, as well as products for body care (generating over 95 million euros, +50.5% compared to 2015).

«With a growth in global demand of just over 4% – says Fabio Rossello, President of Cosmetica Italia – Italian exports exceed a rate of 12%. On the US market too, the penetration of the Italian cosmetics industry is far more dynamic that domestic demand. These trends are confirmation of a consolidated market, a consistently meticulous service and a flexible attitude towards customers; the combination of all these elements is what has set these businesses apart over the years. Recent studies into this sector also show an aggregated balance sheet that is well above national averages, demonstrating that the health of the industry is not episodic but structural and guaranteed in the medium term».

Turnover for the Italian cosmetics sector reached €10.5 million in 2016. The role of foreign markets remains fundamental: exports increased by more than 12 percentage points (€ 4.3 billion euros), thus generating a trade surplus of 2.3 billion euros.

The wider cosmetics supply chain as a whole, which covers everything from ingredients to machinery, packaging and the final product, has reached a value exceeding 15 billion euros, with an estimated growth of 4.5% for 2017.

Italy has established itself as Europe’s fourth strongest economy after Germany, the United Kingdom and France. The cosmetics market in Europe, which is worth more than 77 million euros, is the biggest in the world.