The Value of Beauty Alliance has been founded by six companies from across the beauty and personal care value chain – L’Oréal Groupe, Beiersdorf, IFF, Givaudan, KIKO MILANO and Ancorotti Cosmetics.
The aim of the Alliance is to bring together actors of the European beauty and personal care value chain to raise awareness of the importance of cosmetics products and the positive contribution the industry makes to Europe both from an economic and societal standpoint. The Alliance is open to any company that is part of the European beauty value chain, including private companies and trade associations.
The beauty and personal care industry is made of a sophisticated value chain, each step of which contributes to a sum far greater than its parts. The industry’s value is significant and far reaching and impacts all aspects of European life. It is an economic powerhouse, a critical job creator, a driver of innovation and a leader in sustainability. Every day, the products created by the sector play a key role in supporting both the physical and emotional health of millions of Europeans while the traditions and rituals associated with the sector have helped shape European culture and society.
The beauty and personal care industry is a cornerstone of European excellence. Recognised as a world leader, the industry contributes over €29 billion to the economy each year3 and employs over 3 million people1. As well as being a powerhouse of economic activity, it’s an industry with innovation at its core. Each year approximately €2.35 billion is invested in Research & Development (R&D)4 allowing the sector to offer sustainable solutions from ingredients to packaging.
The EU-27 market for cosmetics products was worth €74.1 billion at retail sales prices in 2022. That’s the equivalent of over €200 million a day.
The physical wellbeing and mental health aspects of beauty and personal care are significant. Across Europe and around the world, consumers see beauty products as an integral part of their daily routine. These products contribute to our physical health by helping to protect our skin from sun damage and providing relief from a range of skin ailments such as acne, dermatitis and eczema. As well as providing essential functional benefits, beauty and personal care products have a proven positive impact on confidence, personal empowerment and quality of life.
Beauty and personal care has consistently played, and continues to play, a substantial role in shaping and celebrating the evolution of European culture and society. The rituals associated with beauty often play a significant role in key life events and provide a sense of connection and belonging. This is also a sector full of tradition and know-how with the skills associated with the beauty and personal care industry often passed down through generations. The industry also helps diversity through inclusive beauty products which aim to cater for everyone in society.
