Informa's DBK Sector Observatory report has published the latest results for sales in 2023. DBK points out that retail sales of perfumery and cosmetics reached 10,404 million euros in 2023, which meant an increase in sales of 12% and that the variation was 11%.
The good performance of household spending on consumer products and the upward trend in prices were the main factors behind the dynamism of the market value in the last biennium.
Mass consumption accounts for most of the turnover.
The FMCG segment accounted for the largest share of the sector's turnover in 2023, almost half in total at 47.6% with an increase of 14.2%. Then, the selective range increased by 12.1% in that year to 21.0%,
19.4% of turnover went to the pharmacy channel, which grew by 12% in 2023. Professional hairdressing establishments accounted for 4.3% and the pure online channel for 3.9%. It is worth highlighting the favourable evolution experienced by the direct sales channel, which accounted for 2.4% of the total in that year.
The skin care and grooming and hygiene segments continue to account for the largest share of the market value with 33% and 21% respectively. They are followed by perfumes and fragrances with 19%, hair care 17% and colour cosmetics 10%.
Retail sales of perfumery and cosmetics will continue their upward trend in the short and medium term, supported by the growth in private consumption and people's increasing concern for their health and image.
Small, traditional perfumeries are declining as they face significant difficulties in competing with the market leaders.