“Spanish cosmetics is in fashion”. This was stated by the representative of the multinational Beiersdorp, Ana María Morales, at the presentation of the X-ray of the cosmetics and perfumery sector in Spain, developed by the Industry Association, Stanpa. Society is changing and, along with healthy eating or physical exercise, skin care has become another basic, Morales explained. This added to the return of tourism to Spain and a greater sophistication and diversification of the consumer have led the sector to close 2022 with historical data. Its turnover has risen 11.3% over the previous year to reach 9,250 million euros, a record figure, which leaves behind the 8,460 million of 2019. As a result, per capita spending on perfumery and cosmetics has fallen at a new ceiling: 185 euros per year, with an increase of 9% over the year before the pandemic.
Color cosmetics, and especially lipsticks, have been largely the architects of this growth that, in the words of the general director of Stanpa, Val Díez, “has surprised the sector”, after a 2021 post-pandemic recovery in which However, the figures for 2019 were not reached. Lipstick consumption rose 63% last year (still below 2019) and its category, color cosmetics, rose 29.4%. Although its participation in the sector’s pie is the smallest, at 10%, its momentum has been the most outstanding, such as being the first full year in which masks have been abandoned as mandatory.
Skin care, which drives more than a third of the industry’s business, gained nearly 20% in revenue. And this despite the inflation in prices, which Stanpa does not quantify. According to Juan Matji, President of Cantabria Labs, the growing tendency to take care of oneself leads to greater spending by consumers. And a commitment to luxury products, adds Val Díez, which in 2022 experienced growth of 18%. In perfumery, whose weight in the sector is 19% [entre medias de la higiene personal, con el 21%, y el cuidado del cabello, con el 18%]This trend towards more expensive products is appreciated and that masculine scents add up to 40% of sales.
The cosmetics industry also takes advantage of exports that, as businessmen are in charge of repeating, exceed those of sectors such as olive oil, wines or Spanish footwear. Sales abroad totaled 6,515 million euros, 21% more than in 2021. “Exports have grown a lot in 2022, especially in Latin America, with an increase of 50%, and North America, where it rose by 34 %”, highlights the general director of Stanpa. “Spain is the second exporter of perfumes in the world. It is surprising that it exports more than the United States, the United Kingdom or Germany,” she added.
Both multinationals that manufacture in our country, as well as Spanish firms that are already global or SMEs, he continued, are the architects of continuing to invest in a sector in which they expand factories or update them. “Spain is a very competitive country because it has good innovation, universities and industry,” supported the president of Cantabria Labs.
Both managers were optimistic regarding the forecasts for this year. The sector will continue to grow. The export marks another record, predicted the person in charge of Stanpa. Although the geopolitical crisis will continue to cause supply problems and increase the cost of raw materials, companies expect 2023 to be a good year. The total opening of Asian markets to tourism will contribute to this. “In these first months of the year we grew at double digits in the national market. Tourism is helping a lot”, says Sergio León, deputy general director of Loewe Perfumes.
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