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Cosmetics industry loses glamour in 2024
Cosmetic Professional Association draws pale balance sheet and sees subdued mood
The professional cosmetics industry in Germany has drawn a mixed picture for 2024. Global and regional crises, high energy costs and inflation have dampened consumption and posed major challenges for cosmetics institutes, reports Alexander Drusio, Chairman of the German Cosmetic Professional Association (VCP). A VCP survey also revealed only a cautious mood for this year: only 15 percent of member companies were expecting an increase in turnover of five to ten percent, and just as many were even expecting negative results.
Large industry with high demands
Across Germany, there are around 40,000 beauty salons and around 30,000 freelance and semi-professional providers such as specialized nail studios. Micro-enterprises and solo freelancers dominate the cosmetics service sector. According to Drusio, the industry achieved an estimated total turnover of just under two billion euros. However, high regulatory requirements such as product safety specifications, labeling obligations, environmental regulations and supply chain verification would tie up time and money that would be lacking for innovation, quality and customer service. The VCP is therefore calling on politicians to systematically reduce bureaucracy.
New bytes and beauty trends
Meanwhile, digitalization is opening up new opportunities and advances in skin care for professional beauticians. Virtual skin consultations, online courses and digital coaching would expand the range of services on offer. Artificial intelligence also enables precise skin analyses and personalized skincare products. Algorithms identify the exact skin type and provide individual recommendations. New technologies such as laser, radio frequency and microdermabrasion - a mechanical peeling method - would also open up new avenues in cosmetology. Non-invasive anti-ageing treatments are particularly popular, as customers prefer gentle methods. Another trend is minimalist skin care: highly effective products emphasize natural beauty, while multifunctional formulations with few ingredients achieve great effects.
Source: VCP
