The European cosmetics industry is a science-driven and highly innovative sector that plays a leading role in product development. Research and development programmes delve into all imaginable aspects of beauty and well being, from investigating consumer behaviour and beauty aspirations to the biology of skin, hair, teeth and mouths and then on to new innovative technologies and sustainable development methods. Every year, a quarter of all cosmetic products available on the market are either improved or completely new. Patent activity is a useful indicator of innovation, and a large proportion of patents granted in the EU are for the cosmetic industry’s products.
Ultimately, it is the consumers’ desire for new, better and safer products, delivered by dynamic and responsible companies, that drives the constant innovation in this industry.
Last year, the sale of cosmetics and perfume in Romania exceeded RON 5.5 billion or EUR 1.2 billion and the market still hasn’t reached its maximum potential. The sector includes around 2,000 companies with over 11,000 employees, numbers that have remained steady since 2009, showing a stable and well-defined market.
In Romania, most people still acquire their cosmetics products in physical stores, followed by pharmacies and finally beautician salons, although online sales have significantly increased in the last three years.
Consumers are increasingly conscious of the environment and the social and ethical ramifications of consumption and production. They expect businesses to share their concerns, which means that the industry must commit to the responsible use of resources in the development and production of all its products, giving rise to a whole new level of innovation across the entire industry.