What is
the value of beauty?

The Value of Beauty is a campaign which aims to raise awareness of the importance of the beauty and personal care value chain in Europe and demonstrate the positive impact of the industry at an economic and societal level. This is the first time that all aspects of the European beauty and personal care value chain are being promoted under one campaign.

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About The Value of Beauty Alliance

The Value of Beauty Alliance was founded by six companies from across the beauty and personal care value chain – L’Oréal Groupe, Beiersdorf, IFF, Givaudan, KIKO MILANO and Ancorotti Cosmetics, with additional members having joined since it was founded.

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.

OUR REPORT PROVIDES COUNTRY AND CATEGORY SPECIFIC INFORMATION

Understand the importance
of this vital industry

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Our pillars

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.

ECONOMY & INNOVATION

Europe is recognised as a world leader in the beauty and personal care industry both as a flagship market and as a major export of cosmetics around the world. Employing over 3 million people across Europe¹, the sector is highly innovative and invests significantly in R&D each year.

HEALTH & WELLBEING

Beauty and personal care products play a key role in supporting our physical and emotional wellbeing. They help protect our skin from sun damage, provide relief from skin conditions and provide a positive impact on self-esteem².

SOCIETY & CULTURE

Cosmetics hold a rich cultural and social significance throughout history. The rituals and traditions of beauty are woven into all aspects of life helping mark important life moments. From lipstick to hairstyles, the beauty and personal care industry has helped play a key role in the evolution of European society.

ECONOMIC IMPACT OF THE INDUSTRY

Economy & Innovation

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.

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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.

— Cosmetics Europe & Euromonitor International (2023). Market Performance: European Cosmetic, Toiletry & Perfumery Data.

CONTRIBUTION TO HEALTH AND WELLBEING

Health & Wellbeing

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.

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CONTRIBUTION TO SOCIETY AND CULTURE

Society & Culture

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.

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