UK cosmetics market revealed as the third largest in Europe
The UK has been revealed as the third largest contributor to the European beauty market, according to new research by Cosmetics Europe and Showerstoyou.co.uk.
Europe's cosmetics market was estimated to be worth €77.6 billion in 2017, with 20.2 billion cosmetics products exported from Europe last year alone, making it the largest market of its kind across the globe.
Germany and France combined to serve as the main exporters within the market, accounting for 50% of all global personal care exports within Europe (€13.6 and €11.3bn respectively). The UK ranked third, contributing a total spend of €11.1 billion, whilst Italy (€10.1bn) and Spain followed suit (€6.8bn).
With an average annual spend of €132 on beauty and self-care products throughout the continent, skin care was revealed to have had the highest number of sales within the EU at €20.7 billion. This was closely followed by toiletries (€19.64bn), hair care (€14.84bn), fragrances (€11.93bn) and make-up (€11.17bn).
It has also come to light that the beauty industry has created more than two million jobs across Europe, with over 165,700 people employed in the manufacturing of cosmetics products alone.