European cosmetics market maintains its momentum in 2024

The European cosmetics market continued to grow in 2024, reaching a total value of 103.9 billion euros, according to data published in early July by Cosmetics Europe, the European trade association for the cosmetics industries.

This represents an increase of 6.4% compared to 2023, confirming the sector’s resilience in an economic context still marked by uncertainty and market contraction. Indeed, in 2023, the European beauty market had grown by 10%.

Thanks to this performance, Europe remains the world’s second-largest beauty market, just behind the United States (107 billion euros), and ahead of China (65 billion).

The main contributors to the value of the European market are Germany (16.9 billion euros), France (14.2 billion euros) and Italy (13.4 billion euros), a trio that accounts for over 40% of the market.

In terms of product categories, skin care products such as moisturizers dominate the market, with a share of 28.9%, followed by hygiene products (23.8%), hair care (17.4%), fragrances (16.5%) and make-up (13.4%). Between 2023 and 2024, the strongest growth was seen in fragrances (+8.9%) and make-up (+8.2%).

Per capita consumption reflects a mature market in Northern and Western European countries, led by Norway (295 euros), Denmark (258 euros) and Sweden (250 euros). The European average is 183 euros per person. France comes eighth, with an average per capita expenditure of 207 euros in 2024.

Europe’s cosmetics sector has a strong international orientation. In 2024, total exports (intra- and extra-European) reached 76.4 billion euros, including 29.45 billion euros to countries outside Europe.

France was the leading exporter with 21.6 billion euros, followed by Germany, Italy and Spain (7.8 billion euros). Conversely, imports from outside Europe totaled 8.5 billion euros, mainly from the United States (2.95 billion euros), China (1.88 billion euros), Canada and Japan.

This trade surplus underlines the good health of the European cosmetics industry, driven by its know-how and innovation.

In Europe, the industry employs nearly 3 million people, including 265,742 direct jobs.