A new report by the Caribbean Export Development Agency (Caribbean Export) has identified natural and organic products from the region as a potential export opportunity into Europe, which has witnessed increasing demand in recent years.
The Caribbean Export report, Unlocking the Profit Potential of the Caribbean – commissioned ahead of the Absolutely Caribbean virtual expo – highlights that in the UK, the total personal care sector, including skincare, bath and shower and hair products, is worth £6.34 billion, with certified organic and natural beauty products worth £86.5 million and growing 14% year-on-year.
To Spanish consumers, ‘natural’ is key, the report adds, but quality is also important, with around eight million shoppers having purchased a luxury beauty brand in the 12 months to April 2019 – about a fifth of all beauty spend in Spain.
Europe’s love for natural plant-based ingredients combined with the region’s efforts to promote sustainability is fuelling the demand for natural products
German beauty consumers tend to be more traditional in their choice of product, says the report, but natural products are seeing faster growth, suggesting an increase in popularity, especially in terms of facial care and hand and nail care. And in the Netherlands, the health beauty category rose by 1.5% in 2019 to reach €2.4 billion.
“Europe’s love for natural plant-based ingredients combined with the region’s efforts to promote sustainability is fuelling the demand for natural products in different industries such as the cosmetics market,” comments Dr Damie Sinanan, manager for competitiveness and export promotion at Caribbean Export. “The FMI reports that the natural cosmetics market is projected to grow at 4.9% volume CAGR through 2027. The opportunity here is great and we are excited to have some fantastic health and beauty producers at our expo this year.”
The Absolutely Caribbean virtual expo will take place on 17-18 November.