French Cosmetics Leaders Urge Regulatory Reform and Support Amid Global Market Challenges

Strategic Insights -

French cosmetics industry leaders met with EU Executive Vice-President Stéphane Séjourné at the Cosmetic 360 trade show in Paris to address pressing issues facing the industry in Europe and globally. The sector is worth around three million jobs across Europe and is a significant contributor to the French economy, with 300,000 direct and indirect jobs created in France alone. Industry leaders are concerned about growing threats to their businesses, including US customs duties, increased international competition, European regulatory inflation, and slowdowns in consumption in China.

Key Takeaways:

  • The French cosmetics industry is responsible for around three million jobs across Europe and is a significant contributor to the French economy, with 300,000 direct and indirect jobs created in France alone.
  • Industry leaders are calling for regulatory simplification, trade agreements, and innovation support to address global and European challenges.
  • FEBEA has presented a roadmap to boost competitiveness and sustainability, known as the Beauty Industry Package, which includes recommendations for regulatory reform and innovation support.
  • The European Commission has pledged action through new industrial and regulatory frameworks, including the Industrial Accelerator Act and the Omnibus Cosmetics Regulation.
  • The cosmetics sector is asking for support to stimulate international exports through new free trade agreements and to facilitate the movement of products manufactured in Europe.
  • The European Commission is determined to accelerate industrial competitiveness by acting on three levers: regulatory simplification, protection of the internal market against unfair competition, and support for demand.

Statistics:

  • The cosmetics industry is worth around three million jobs across Europe.
  • There are 300,000 direct and indirect jobs created in France alone in the cosmetics industry.
  • The cosmetics sector accounts for more than 60% of products exported in France.
  • The Industrial Accelerator Act and the Omnibus Cosmetics Regulation are key levers for strengthening the industrial dynamism of the cosmetics sector in Europe.

Sources:

  • "European Commission". European Union.
  • "Cosmetic Valley". Cosmetic Valley.
  • "FEBEA". FEBEA.