The Italian cosmetics market has always kept its export sails unfurled towards traditional importing countries such as France and Germany.
But especially with the pandemic, companies in the sector have started to receive more and more requests from the markets of the Arab Emirates (+23%) and South-East Asia (+37%), in particular from Hong Kong.
Exports to Hong Kong are to be considered essential, as they open the way to the entire ASEAN area, given the city-state’s prominent financial and geopolitical position.
The products favoured by this new segment of customers are fragrances and products related to face and body skincare: indeed, in these countries (a glaring example is the very famous Korean skincare), skin care is essential and very meticulous, and Arab women in particular do not hesitate to spend on their beauty. But skincare and, in general, personal care is not an exclusively female market as one might think: in fact, even the male gender is beginning to appreciate the benefits of a well-groomed skin, especially younger men.
Finally, the awareness of respect for the environment and animals is now widespread, so even in these emerging markets for Italian cosmetics there is an increasing move towards organic and cruelty free. The organic market is therefore definitely going mainstream, and companies that focus more on the planet will therefore be rewarded. So new market segments are opening up for companies in the sector, and even established ones seem to offer further opportunities.
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✅ Edited by Valentina from the Italian office of Pangea Studio Associato
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