After the success of the first-ever edition last September, Cosmetica Italia will renew its support for Italian companies in the sector that will be attending Cosmoprof India 2019. The event, scheduled to take place from 12 to 14 June at the Bombay Convention & Exhibition Centre in Mumbai, adds to Cosmoprof’s international network, as the fourth in this series after Bologna, Hong Kong and Las Vegas.
Twenty-four Italian companies, of which nineteen are Cosmetica Italia members, will be in Mumbai representing the entire sector and production chain. Cosmetica Italia also supports the Italian group participation promoted by ITA, the Italian Trade Agency, bringing together eight companies, of which six are members. The delegation of Italian companies at Cosmoprof India will also meet the General Consul for Italy in Mumbai, Stefania Costanza, during a reception to be held on Thursday 13 June.
«Our entrepreneurs are interested in India. Last year, the figures for this market came close to €11 billion, placing India in sixth place for cosmetic use after Europe, the US, China, Japan and Brazil – says Renato Ancorotti, president of Cosmetica Italia – The penetration of our companies is still marginal, but the figures should obviously be seen as an opportunity to seize. With this in mind, Cosmoprof India is a key moment for local operators to meet and an exclusive forum for analysing the trends in this market».
India ranks 40th in terms of exports of Italian cosmetics, at a value of nearly €18 million. However, it is the growth trend of these exports which is particularly striking, with an increase of 23% in 2018 on the previous year. In addition, considering only the Asian area, India ranks seventh in terms of exports of Italian cosmetics.
The cosmetics categories with the highest exports, in terms of value, are alcohol-based perfume products and face and body products, accounting for €6.6 million and €3.7 million respectively which, along with make-up (€3.1 million), comprise two thirds of Italian exports to India.
Indian consumers are mainly interested in products that meet primary needs, such as daily hygiene items, which account for over half of cosmetics used. Mintel forecasts for 2019 point to a buoyant growth in haircare products, above all hair colour products (+11.2%) and gels/waxes (+10.8%). In the medium/long-term, forecasts for 2022 indicate increasingly important trends for make-up products, with an average annual growth of 10.5%.
Turnover of the Italian cosmetic industry in 2018 exceeded €11.2 billion, up by 2.1%. International markets recognise the quality of Italian products, with significantly high exports close to €4.8 billion (+3.8%). These trends have had a positive impact on the trade balance which reached a record figure of nearly €2.8 billion in 2018. The cosmetics industry as a whole, from ingredients to machinery, packaging and finished goods, reached a value of €16.2 billion.