Greek cosmetics, beauty products see revival: report

Source: Xinhua| 2018-12-01 03:00:58|Editor: Mu Xuequan
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ATHENS, Nov. 30 (Xinhua) -- Greek producers of cosmetics and beauty products have seen a revival in their fortunes thanks to a growing worldwide consumer trend towards natural products among other factors, according to Enterprise Greece, the official trade and investment promotion agency.

As a result of the country's economic crisis, Greece's roughly 120 cosmetics and beauty product makers witnessed a more than 40 percent decline in domestic sales to about 800 million euros (909 million U.S. dollars) in 2016 before a recovery began last year, according to an e-mailed newsletter on Friday.

Therefore, many turned to overseas markets. Last year, Greek exports of cosmetics and beauty products totaled 218 million euros.

Worldwide, Greek cosmetics and beauty product exports have been growing at more than a 2 percent rate on average over the last two years and in select markets even more, the report said.

For example, exports to Cyprus have grown fourfold in the last decade, according to industry estimates. Asian markets hold even more promise for Greek companies of this sector, according to Enterprise Greece.

Drawing on the country's rich flora and biodiversity, Greek beauty product makers have also been expanding into natural beauty products and have found a receptive world market as consumers increasingly turn to natural and organic products.

Greek exports of natural beauty product have been growing at a rate of 20 percent per year, according to industry experts. (1 euro= 1.14 U.S. dollars)