Cosmetics market grows 12.5% annually in 2023

With tourism growing and Greek consumers turning to products they didn't use during the pandemic, the domestic cosmetics market appears to be gaining ground.

"Sales growth to a degree is inflationary. However, especially in the case of select products, we lost the consumers we were going to lose during the economic crisis," said a senior Galerie de Beaute chain executive.

According to Cosmetics Europe data published by the Panhellenic Association of Manufacturers and Agents of Cosmetics and Perfumes, in 2023 the local market posted annual growth of 20%, with retail sales reaching 1.2 billion euros from €1.066 billion in 2022.