Around 100 Italian companies gather in Singapore for the special edition of Cosmoprof Asia 2022, as it returns as a physical event.
A total of 19% of all Italian cosmetic exports end up in the Asia region.
A special edition celebrates the return to the physical Cosmoprof Asia event, the Cosmoprof network trade fair for the Asia-Pacific region: the Singapore Expo exhibition centre in Singapore will be hosting on this occasion, welcoming key players in the cosmetic industry and its supply chain.
The Italian cosmetic industry is acutely aware of the networking and business opportunities that this event offers, and indeed, around a hundred Italian companies will be present at the fair in Singapore.
Among these will be the 70-plus companies that have taken part in the Italian Collective exhibition, proposed by the ITA-Italian Trade Agency in partnership with Cosmetica Italia: an opportunity for companies working in the finished and branded product and contract sectors, which will be held in the halls dedicated to skincare, haircare and packaging.
“2022 is certainly a year of encouraging signs for our industry: the return to physical attendance at many events – as is the case for Cosmoprof Asia – plus the growth of several indicators that reward the resilience of our companies and the continuity of their investments in strategic areas such as research and development are just a few,” comments Benedetto Lavino, acting president of Cosmetica Italia. “More specifically, we are seeing growth in the area of exports, which is set to reach nearly 5.6 billion euro – this not only represents a positive trend when compared to 2021 (+15.2%), but also when we consider the pre-pandemic period (+12.1% over 2019).
The Asia region represents 19% of total Italian cosmetic exports worldwide.
A more detailed look at the key Asian destinations for cosmetics exported from Italy sees Hong Kong in the top spot – with an export value of 298 million euro achieved in 2021 (+23.1% compared to 2020); this is closely followed by China, with approximately 104 million euro (+16.7% compared to the previous year), with Singapore in third place, with more than 54 million euro and an increase of 4.2 % over 2020.
A total of 41% of Italian cosmetic exports to Asia is attributed to alcohol-based perfume products: in 2021, this area was worth 383 million euro, with a growth of almost 30% compared to 2020; meanwhile, facial care and body care products are also in high demand (310 million euro, a 20% increase over 2020). Finally, in third place, we see hair products, which – with a value of 121 million euro – recorded a positive trend of almost 27 percentage points. Overall, these top three areas represent 86% of Made in Italy cosmetic exports to Asian destinations.
On analysing the claims, we can see that the Asian market is oriented towards those that express functional concepts such as hydration, nourishment and an illuminating effect; meanwhile, the focus on anti-aging claims also remains high, while those that highlight the natural and sustainable characteristics of cosmetics have now reached their maturity curves.