European Cosmetics Growing Strong

The European cosmetics industry demonstrated strong growth, according to Colipa, the European Cosmetic, Toiletry and Perfumery Association. At its annual General meeting in Stockholm, held June 1, 2007, the agency reviewed the economic performance of the European cosmetic industry during the year 2006, reporting the following key findings:

• The European cosmetics industry continues to contribute to the overall growth in Europe with an annual turnover of over €65 billion;
• The European cosmetics industry remains the world market leader, growing 4.2% in 2006;
• Skin care, toiletries and hair care dominated the market in 2006; and
• The Central and Eastern European markets can expect positive development.

Bertil Heerink, director-general of Colipa, said in press statement, "the European cosmetics industry remains one of the most dynamic sectors in the European economy.”