The European export market accounts for one third globally, totalling €16.4 billion.
Since 2009, the continent has seen a 10 per cent increase in SME's - totalling nearly 4,500, while giving jobs to approximately 1,700,000 people, 25,000 of which are scientists.
The positive news comes after the International Scientific and Regulatory Conference, 'Cosmetics at the Crossroads of Science and Regulation', which was followed by the Cosmetics Europe Assembly the week of June 16th -19th.
Both events brought together Cosmetics Europe members, corporate entities, scientists and regulatory leaders from around the world to discuss areas of mutual interest for the international cosmetics industry.
“We have seen a 10% increase in delegate participation this year. The outstanding turnout of both European enterprises and international associations demonstrates the spirit of international cooperation in this industry on matters pertaining to consumers, safety and regulatory issues," says Loïc Armand, President of Cosmetics Europe.
'Delivering Innovation and Growth to the EU'
Following the success of last year’s event, the 2015 conference program and breakout sessions set about uncovering the future opportunities in the growing personal care industry.
“We want to look into the future rather than just celebrating success,” Rob Taalman at Cosmetics Europe had told CosmeticsDesign-Europe.com.
The stakeholder forum themed, “Science, Beauty and Care: Delivering Innovation and Growth to the EU” this year opened with an address to the industry by European Commissioner Elzbieta Bienkowska, responsible for Internal Market, Industry, Entrepreneurship and SMEs.
Meanwhile, additional speakers from the European Commission, SMEs and industry experts elaborated on their views of smart regulation and innovation and expansion of the market: what trade means for business and global partners.
Jean Dominique Giuliani, Chair of the Robert Schuman Foundation also gave a keynote speech.
“It is important to raise awareness of best practice and also of what is to come in the future on the regulatory scene. Many companies will know what they need to do, but some rely on events such as this to inform them, and it is good for everyone to get together and discuss,” Taalman concludes.