30 SEPTEMBER, LONDON: in-cosmetics Global has today released its new report, Unlocking Potential: Meet the SMEs Driving Innovation in Cosmetics. The report explores the impact and influence that small and medium-sized enterprises (SMEs) are having on a market segment set to generate US$646.20bn this year[1].
Despite the perceived dominance of beauty giants and large corporations in shaping the cosmetics and personal care industry, the SME community, often overlooked, plays a crucial role in upholding and fostering the global sector’s development and growth. According to the British Beauty Council[2], of the 5000+ beauty brands operating in the UK alone, 95% of these are SMEs, generating around £7 billion for the wider economy.
In recent years, SMEs have been widely commended for swiftly adapting to changing consumer and industry-led preferences and trends, serving as incubators for experimentation and creativity, shaping the broader cosmetics landscape. Gathering firsthand insights and experiences from experts in the space, this report delves into the characteristics of SMEs in the industry, key challenges they face in the modern-day beauty and personal care market (such as raw material sourcing and some suppliers’ minimum order quantities), as well as opportunities and predictions for the future.
Pioneering brands and suppliers that have contributed to the report include Elsa Pomès, Co-Founder at Atelier Populaire; Emma Thornton, Founder and Owner at TRUE Skincare; Antti Kamarainen, Market Development Director at Boreal Bioproducts; Frédéric Soudin, Director at Martial Cosmetics; and Michela Pollastri, Strategic Business Unit Manager at Abich.
Commenting on the launch, Roziani Zulkifli, Event Director of in-cosmetics Global, said: “SMEs play a vital role in the industry’s evolution in that they serve niche markets, seek out untapped opportunities, and drive new ways of innovation. The nature of these companies often means they have an ear to the ground when it comes to consumer trends and supplier demands, giving them significant influence in the beauty market.
“Despite the challenges that many face, they continue to demonstrate remarkable resilience and creativity, helping to drive the continuous growth and progression of the industry. This report aims to acknowledge and celebrate these businesses, given their prominence at the show.”
To download the full report, please visit https://www.in-cosmetics.com/global/en-gb/lp/sme-mini-report.html
in-cosmetics Global returns from 8-10 April 2025 at the RAI Amsterdam Convention Centre, Amsterdam, the Netherlands. For more information and to register to attend, visit https://www.in-cosmetics.com/global/en-gb.html
[1] https://www.statista.com/outlook/cmo/beauty-personal-care/worldwide
[2] https://britishbeautycouncil.com/small-business-saturday/
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