There’s movement in the Great Britain! And we’re not just talking about regulations, but also the cosmetics market, which, despite the Brexit, continues to be one of the most dynamic. Nathalène Foubert, from the Business France office in London, gave an update on the key figures and trends in this market at Cosmed’s international day of its Regulatory Congress on 25 March 2024.
Key figures
The UK cosmetics market is the third largest in Europe, after Germany and France. Mature and competitive, it is dominated by well-established global players. But it’s also a market that’s at the cutting edge of trends, always looking for innovation, and very dynamic. “You have to be able to really innovate and differentiate yourself to tackle and succeed in this market,” Nathalène Foubert said.
Lastly, it is marked by a certain resilience, since even since the Brexit, Covid and the current economic context, with inflation reaching its highest level for 40 years in October 2022 (+11.1%), it remains in good health. The “Lipstick effect” has been observed and consumers continue to spend on beauty and personal care.
In 2022, the cosmetics industry generated €26.7 billion euros across its entire value chain, including €3.3 billion for manufacturing, and sales across all categories represented €16 billion.
Among the product categories that stand out in this market (2022 figures):
• Skincare: €3.7 billion
• Make-up: €2.4 billion
• Perfumes: €2.3 billion
• Men’s care (growing steadily): €2.1 billion
• Hair care: €1.9 billion
In 2002, compared with 2021, market growth was 6.5%, driven by premium skincare, up by 10%.
