Over 100 Italian companies are heading for Hong Kong, where exports of cosmetics made in Italy are increasing by 27.1%

The cosmetics industry turns towards the East, ready to take advantage of the latest beauty trends and important business opportunities. Thanks to the well-established “1 Fair 2 Venues” format, Cosmoprof Asia, Asian version of Cosmoprof hosting exhibitors of finished products (Hong Convention and Exhibition Centre – from 14 to 16 November) and Cosmopack Asia, the Asian version of Cosmopack addressed to the companies representing the entire cosmetics supply chain (Asia World Expo – from 13 to 15 November) are being repeated.

There is great interest from Italian cosmetics companies toward this trade show, the most important in the Asian-Pacific region: over 100 Italian companies, around half of which are members of Cosmetica Italia, have confirmed that they will take part in the 2018 edition. Cosmetica Italia is supporting an Italian collective participation made up of 36 companies (Halls 1E, 3G and 5G of the HKCEC and Hall 6 of AWE) and is promoting the beauty Made in Italy with specific image and communication activities.

In Hong Kong a Memorandum of Understanding between Cosmetica Italia and China Beautèville will be signed: the agreement outlines a cooperation which aims to favour the exchange of information regarding the cosmetics sector, the regulations and the market trends.

This is not the first time that the Italian cosmetics industry has taken an interest in expansion outside Italy. In 2017 too, exports showed a growing trend (+7.1%) for a value of 4,617 million Euros.

Considering only the Asian area, Hong Kong is the first market for exports of Italian cosmetics with a value of 199 million Euros and a significantly positive trend of 27.1% more as against the previous year. In particular, face care and body care products account for approximately half the Italian cosmetics exported to Hong Kong with a total value of almost 99 million Euros (+26% as compared to 2016); alcohol-based perfume products come second and, with a value close to 76 million Euros, account for 38.1% of Italian exports to this market. In third place come hair care products which, even with much lower sales figures (8.9 million Euros), show a lively growth trend (+76%).

“In Hong Kong, while the domestic market is more or less stable, the demand for cosmetics made by Italian companies continues to grow consistently,” comments the president of Cosmetica Italia, Renato Ancorotti “Here, as in the rest of the world, the uniqueness of the products offered by Italian companies is recognised because they provide a perfect blend of quality, safety, innovation and service. At Cosmoprof Asia, our companies will demonstrate this by representing the various aspects of the industry, from the supply chain to the finished product.”

The turnover for the cosmetics industry in Italy in 2017 reached almost 11 billion Euros. The role of foreign markets remains fundamental, with the positive trend in exports generating a trade surplus of over 2.5 billion Euros. The cosmetics industry as a whole, encompassing suppliers of ingredients, machinery, through to packaging for finished goods, topped 15.6 billion Euros in value.