Nurturing and Maintenance - Amidst economic frugality, the cosmetics sector experiences an upsurge in revenue sales.
Despite the dwindling consumer confidence in Germany, the cosmetics sector has witnessed a boost in its earnings. As per the figures provided by the Body Care and Detergents Association (IKW) based in Frankfurt, the sales of cosmetics and body care products jumped by 2.0% in the first half of the year, reaching 12.3 billion euros. This was accompanied by a surge of 8.3% in the sales of cleaning and washing agents, totaling 4.1 billion euros.
The home market played a significant role, with sales within Germany witnessing a growth of 7.3%, amounting to 10.4 billion euros. Items like oral hygiene products, facial care items, fabric softeners, and all-purpose cleaners experienced a surge in demand. As IKW CEO Thomas Keiser put it, "our industry continues to shine even in a bleak economic climate." Consumers remain focused on self-care and cleanliness.
However, the foreign business sector was less successful, showing a drop in sales of 2.6% compared to the previous year, amounting to 6.0 billion euros. This follows a few years of robust growth in international exports, which has now transitioned into a period of market readjustment, as reported by the association.
The IKW represents approximately 440 companies, employing around 50,000 individuals. These companies account for an impressive 95% of the German market.
The increased demand for oral hygiene products and facial care items contributes to the overall growth of the cosmetics sector. Despite facing challenges in the foreign business sector, the cosmetics industry in Germany continues to thrive due to consumer focus on self-care and cleanliness, as highlighted by IKW CEO Thomas Keiser.
