For the first time in years, people in Germany are spending less on cosmetics and household care. But as early as 2022, manufacturers are expecting sales to rise again.
After a series of years of growth, Germany’s cosmetics manufacturers did worse domestic business in 2021.
According to projections by the Personal Care and Detergent Industry Association (IKW), consumers in this country are likely to have spent around 18.7 billion euros on shampoo, soap and dishwasher tablets by the end of the year. That would be three percent less than a year earlier.
According to information from the association, the sector last had to post a decline in domestic sales in 2013, when sales fell by 0.2 percent compared to the previous year to around 17.12 billion euros. For 2022, the IKW is again anticipating a 1.8 percent increase in sales to a good 19 billion euros.
“In Germany, people bought less facial care, perfumes and decorative cosmetics. And they bought fewer detergents and cleaning agents – they probably still had supplies of them from the previous year, ”said IKW chairman Georg Held on Thursday in Frankfurt as the year ended. “On the other hand, there was more demand for products that make life in the house more pleasant, such as a bath with a beneficial bath additive.”
Exports of beauty and household care products from German production increased again after the decline in the previous year, which was slowed down by the Corona crisis. According to the IKW figures, foreign sales for the full year 2021 will be 9.4 billion euros, up 10.6 percent on the previous year. According to the association, Germany is still the largest single market for beauty and household care products in Europe. The total volume of the European market is put at 133.6 billion euros.
In an IKW member survey, 42 percent of the companies rated the current market development as “very good” or “good”, 47 percent rated it as “average”. The association represents a good 430 companies with a total of around 50,000 employees. According to the association, the IKW member companies account for 95 percent of the German market.
Source From: Stern
Jane Stock is a technology author, who has written for 24 Hours World. She writes about the latest in technology news and trends, and is always on the lookout for new and innovative ways to improve his audience’s experience.
