05 - 06 June 2024 in Munich CosmeticBusiness

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16/05/2024 CosmeticBusiness

Growth in the German Beauty Sector

Significant Growth in the First Quarter Despite Ongoing Uncertainty

The German market for beauty and household care products showed significant growth in the first quarter of 2024. Despite continued economic uncertainty, the German Cosmetic, Toiletry and Detergent Association (IKW) has reported an overall increase of 8.7 per cent to 5.6 billion euros for companies in the industry compared to the same quarter in the previous year.

Growth in All Categories

According to the report, sales revenue for cosmetics and body care products increased by 7.2 per cent to 4.1 billion euros. The categories with the strongest growth were facial care and cleansing (an increase of 12.3 per cent) and colour cosmetics (13.3 per cent). Spending on household care products rose by 12.9 per cent overall to 1.5 billion euros. Growth was driven by heavy-duty detergents and washing-up liquids, with increases of 31.4 and 10.3 per cent, respectively.

Demands for a Reduction in Restrictive Regulations

Nevertheless, the IKW says the industry is facing difficult economic conditions. Geopolitical tensions in particular are causing market uncertainty. In addition to the ongoing war in Ukraine, the conflict in the Middle East is a cause for concern. On top of all this, industry regulations are placing increasing demands on companies. For this reason, IKW's managing director Thomas Keiser is demanding political action to reduce the number of restrictive regulations and focus more strongly on economic factors.

Source: IKW

Source: IKW
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