Europe accounts for third of global cosmetics spend
This article was originally published in The Rose Sheet
Executive Summary
According to industry statistics published by European cosmetics trade association Colipa and Euromonitor, €70 bil. ($86 bil.) was spent on cosmetic products in Europe in 2009, representing one-third of global spending. "The European cosmetics industry has yet again consolidated its position as the world's leader in sales, showing the resilience of our industry to provide consumers with the safe and innovative products they demand," Colipa Director-General Bertil Heerink states in a release. Germany topped European spending at €12.8 bil., followed by France (€10.5 bil.), Italy (€9.1 bil.), the U.K. (€8.9 bil.) and Spain (€7.2 bil.). The U.S. spent €41 bil. ($50.4 bil.) in 2009, and Japan spent €21.7 bil. ($26.7 bil.). The statistics were released June 10 at Colipa's General Assembly in Vienna, Austria