The value of cosmetics sales in the Greek market has recorded positive rates, a trend that is partly due to product price increases, according to a sectoral study by ICAP GRIF.
More specifically, in 2023 the total value increased by approximately 12%, while a lower market growth rate is estimated for 2024 (+approximately 6%). Demand is mainly covered by imported products, sales of which are also on an upward trajectory.
Cosmetic exports have shown a significant increase in the last four years, recording an average annual growth rate of 14%. For the two-year period 2025-2026, a further increase in the value of the domestic cosmetics market is forecast, but at a slow pace (4%-5%).
Undoubtedly, the inflationary pressures of recent years, which have affected the final price of products, make it difficult for companies operating in the cosmetics market to develop and increase their turnover.
Stamatina Pantelaiou, Director of Economic & Sectoral Studies at ICAP CRIF, reported that product price increases peaked in the two-year period 2022-2023. However, in 2024, inflationary pressures on the products de-escalated, but many consumers have turned to more affordable and economical product options.
The most important factors that influence the demand for care and beauty products are their selling prices in combination with the disposable income of consumers, the structure of the population by gender and age group, seasonality, their advertising, etc.
