The turnover of the cosmetics and perfumery market exceeded RON 5.5 billion last year, but has not reached its full potential, an analysis revealed on Wednesday informs.
“Considering the significant increase in consumption resulting from tax decisions in 2016, the turnover reached a record level in this sector, exceeding RON 5.5 billion. The Romanian market has not yet reached its full potential, if we relate to the developed markets. In Romania, according to statistics conducted by the players in the field, the consumption of cosmetics and perfumery is about EUR 40/year/person, given that, in France, the consumption is 4-5 times higher,” the analysis reads.
According to statistics, currently there are around 2,000 companies in this field, with over 11,000 employees, dealing with wholesale and retail of cosmetics and perfumery.
“The analysis of financial data shows that in the past 7 years, the firms of cosmetics and perfumery insisted on optimizing the business, evidence that the sector’s profitability increased from RON 207 million in 2009 to RON 258 million in 2015, with a strong upward trend in 2016,” the analysis conducted by KeysFin reads.
The trend in this sector is given mainly by importers and by the specialized store chains developed by multinationals. The local producers have also advanced significantly in recent years, taking advantage of new eco trends, of the Romanians growing interest in natural and quality products.