Cosmoprof On The Road breaks the ice in Sweden and Russia

Cosmoprof On the Road reaches northern Europe and Russia as it continues to meet with companies and buyers, expanding the pool of contacts in the Cosmoprof Worldwide Bologna network.

The roadshow landed in Stockholm on November 11, a mandatory stop given the event’s historic and always fruitful cooperation with Business Sweden, The Swedish Trade and Invest Council, not to mention the changes affecting the local market.

Sales for beauty and personal care products are, in fact, on the rise in Sweden, even as demand for clothing has slowed down, and an increasing number of local chains outside the sector are expanding their range in a bid to enter the beauty market.

Local consumers pay close attention to the list of ingredients and to the level of performance offered by products and demand very high quality. This and a growing per capita income allowed premium brands to take over a larger share of the market in 2018.

Speaking for Business Sweden, Ulrika Hoonk confirmed the trend and told us that “Nature is a source of inspiration for many Swedish brands, which are always searching for new ways to reduce their environmental impact, creating cosmetics with natural ingredients and sustainable packaging”.

Environmental awareness in Sweden is strongly influenced by the media and by social networks, which promote the use of products that are free from substances such as parabens, slack wax and fragrances. It's no coincidence that, as far as distribution channels are concerned, e-commerce continues to grow and currently accounts for 11% of the market.

The Italian Ambassador to Sweden, Mario Cospito, Andrea Mattiello, Italian Trade Commissioner in Sweden and Ulrika Hoonk of Business Sweden were present as the Cosmoprof team illustrated the themes and changes coming to Cosmoprof Worldwide Bologna 2020, providing interesting information and suggestions to help operators make the most of Cosmoprof 2020.

First-person accounts from Cosmoprof Bologna were shared by Maria Weibust, Sales Manager at Disruptive Materials, who was present at the past edition, and Jasmine Lundqvist, founder of Base of Sweden and a 2019 exhibitor.

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Immediately after Stockholm we flew to Novosibirsk, Russia, where we presented the projects and changes that will be featured at the event this coming March and discussed the needs and peculiarities of the Russian market. The Cosmoprof team was accompanied by Francesco Pensabene, ICE Director for Moscow, and Alla Seergeva, Senior Trade Analyst for ITA Novosibirsk.

The Russian market is experiencing significant growth thanks to the increased purchasing power of the middle and high classes. The sale of cosmetics and perfumes has grown by 16% each year on average, and the first 8 months of 2019 were marked by dynamic growth in global exports toward Russia: +5% compared to the same period in 2019.

The Russian beauty market is one of the biggest in Europe, with a market volume of 16.5 billion dollars according to Euromonitor. Despite challenges such as the constantly changing exchange rates for the ruble, the Russian cosmetics market remains attractive and is growing rapidly, with luxury products accounting for 19% of the market.

According to the national Chamber of Commerce imports account for 90% of the market for perfumes and 40% for personal care products and foreign manufacturers are predominant in the nation. It's a unique market that targets both professionals and the end user: operators in the beauty sector are, in fact, more likely to purchase bulk products.

Russia has an additional territorial advantage: Siberia, a region that abounds in nature and is home to a wide variety of ecosystems, from the tundra to coniferous forests and from great lakes to mountain ranges. With the geophysical diversity comes a wealth of plants and endemic species, some of which serve as raw materials for the cosmetics industry. A world of benefits and ingredients that has yet to be explored, with the potential for discoveries that could affect the entire beauty industry.