Cosmetic powders and skin care preparations market in Greece

Earlier Report Observations

From 2018 to 2020, domestic production of cosmetic powders and skin care preparations in Greece remained relatively stable, ranging between 225.9 million USD and 226.6 million USD. During this period, pharmacists focused on promoting dermocosmetics through pharmacies to compensate for price reductions in pharmaceuticals. The development of new segments such as anti-pollution and probiotic skincare products also emerged, emphasizing natural and specialized ingredients. The COVID-19 pandemic in 2020 accelerated the shift towards online sales and brought new players into the cosmetics market.

Production increased by 7.5% in 2021, reaching 242.1 million USD, supported by an average annual production growth rate of around 11% for domestic cosmetics. This expansion was accompanied by a significant rise in exports, which reached 202.3 million USD in 2021. Consumer trends shifted towards natural, biological, and dermatologically tested products free from parabens, silicone, and other harmful substances, with sales of men's facial care products surging by 44.3%. In 2022, despite challenges from the energy crisis, rising raw material prices, and inflationary pressures, sales of skin and hair care products continued to grow, accounting for over 50% of the cosmetics market. Online sales penetration reached 16% of total cosmetics sales, and new players entered the market, particularly in the pharmacy channel for dermocosmetics.

The Greek cosmetics market surpassed 1 billion euros in turnover in 2023, with sales value growing by 12%. Consumers maintained a focus on systematic personal care routines despite economic pressures, and skin and hair care products represented about 55% of the market. Inflationary pressures and higher raw material costs persisted, but innovative Greek brands expanded their export activities to markets such as Russia, Malta, and Saudi Arabia. In 2024, market growth was estimated at around 6%, with domestic production continuing its upward trend and vertically integrated Greek cosmetic manufacturers strengthening their competitiveness by producing exclusively their own products.

Production cosmetic powders and skin care preparations in Greece

In value, 2017-2020, M $ US

Following two years of growth, Greece's production of cosmetic powders and skin care preparations declined. In 2019, output reached its peak at 226.6 million US dollars, but in 2020 it remained relatively stable at 225.9 million US dollars, showing minimal year-over-year change. Over the 2017-2020 period, production increased by 13.1%, with an average annual growth rate of 4.2%. The most significant annual increase occurred in 2018, when production rose by 13.2%.

Annual dynamics of production in Greece in value, 2017-2020, M $ US

Exports cosmetic powders and skin care preparations from Greece

Exports in kind, t

After rising for two consecutive years, Greece's exports of cosmetic powders and skin care preparations in physical terms declined. In 2019, exports peaked at 21 323 tonnes, but in 2020 they fell to 20 308 tonnes, representing a 4.8% decrease from the previous year. Over the 2017-2020 period, exports grew by 26.6%, with an average annual growth rate of 8.2%. The largest annual increase was recorded in 2019, when exports surged by 30.9%.

Annual dynamics of product's exports from Greece in kind, 2017-2020, t

Between 2017 and 2020, Greece exported cosmetic powders and skin care preparations to numerous countries, with a relatively diversified trade structure. Even the top three destinations—the United Kingdom, Germany, and France—collectively accounted for only 45.3% of total exports in physical terms during this period.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from Greece in kind, 2017-2020

Exports in value, M $ US

Greece's exports of cosmetic powders and skin care preparations in value terms grew for the third consecutive year. In 2020, exports reached 174.2 million US dollars, marking a 3.2% increase compared to the previous year. Between 2017 and 2020, exports rose by 27.3%, equivalent to an average annual growth rate of 8.4%.

Annual dynamics of product's exports from Greece in value, 2017-2020, M $ US

The structure of Greece's exports in value terms from 2017 to 2020 was highly diversified. The top three destinations—the United Kingdom (14.2% of export value), Cyprus (11.5%), and the United States (8.4%)—together accounted for just 34.0% of total export flows, with no single country holding a clearly dominant position.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Greece in value, 2017-2020

Imports cosmetic powders and skin care preparations to Greece

Imports in kind, t

Following two years of growth, Greece's imports of cosmetic powders and skin care preparations in physical terms declined. In 2019, imports reached their highest point at 11 874 tonnes, but in 2020 they dropped to 10 185 tonnes, representing a significant 14.2% decrease from the previous year. The largest annual increase occurred in 2018, when imports grew by 13.3%.

Annual dynamics of product's imports to Greece in kind, 2017-2020, t

From 2017 to 2020, France (30.5% of imports in physical terms), Germany (22.5%), and Poland (8.0%) were the main suppliers of cosmetic powders and skin care preparations to Greece. Together, these three countries accounted for 61.0% of total imports in physical terms during this period.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to Greece in kind, 2017-2020

Imports in value, M $ US

After two years of growth, Greece's imports of cosmetic powders and skin care preparations in value terms declined. In 2019, imports peaked at 184.6 million US dollars, but in 2020 they fell to 174.9 million US dollars, representing a 5.2% decrease from the previous year. Over the 2017-2020 period, imports increased by 13.8%, with an average annual growth rate of 4.4%. The largest annual increase was recorded in 2018, when imports rose by 12.5%.

Annual dynamics of product's imports to Greece in value, 2017-2020, M $ US

Throughout the 2017-2020 period, France (39.1% of import value), Germany (14.3%), and Czechia (9.2%) formed the core of Greece's imports of cosmetic powders and skin care preparations in value terms. Together, these three countries accounted for 62.6% of total import flows.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Greece in value, 2017-2020