14 Dec 2023
There has been an upsurge in ‘Made in Italy’ cosmetic products in India, with exports increasing 33% in 2022. The presence of 19 Italian companies presence at the Cosmoprof India 2023 trade show held recently in Mumbai validates this aspect. It is estimated that by end 2023 there will be a 15% increase in cosmetics exports to India, with a rise of another 10% in 2024.
According to Benedetto Lavino, President of Cosmetica Italia, Italian companies whose production is more than 40% are looking at global markets and more business opportunities with other countries. Cosmoprof is one such event that helps with such opportunities. ICE-Agenzia along with Cosmetica Italia had organized a collective participation of companies from Italy.
Lavino added that India is a lucrative market for the Italian cosmetics industry. It is ranked fourth in cosmetics consumption globally and is valued at EUR 24 billion. Since 2019, India’s cosmetics consumption has doubled and more such growth rates are expected in the future too.
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