The Polish Agency for Enterprise Development (PARP) predicts that the Polish cosmetics industry will grow at an average annual rate of 4.4% between 2022 and 2025, allowing its exports to increase to €4.7 billion in 2025.

In the information, PARP says that although according to a report by PKO Bank Polski, the global cosmetics sector shrank by 4.2% in 2020, there was already a market rebound in 2021 compared to the situation before the outbreak of the COVID-19 pandemic.

“The industry is one of the fast-growing ones, with the skincare segment driving in particular. The generational change and the share of increasingly younger consumers buying cosmetics are driving the sector”, according to PARP.

The agency points out that entrepreneurs in the cosmetics industry are actively looking for new solutions and markets, and are working to implement new ideas.

Many of them took part in competitions financed by the European Funds, organised by PARP under the Intelligent Development Programme, which are dedicated to micro-, small and medium-sized companies.

According to PARP data, Poland’s cosmetics exports between 2017 and 2020 increased by 39.8% – from €2.7 billion in 2016 to €3.8 billion in 2020. – and imports respectively by 30.2%, from €2.1 billion to €2.7 billion. Financial support from the European Funds was of great importance here.

“Thanks to the funds obtained, many brands were also able to be promoted on foreign markets and their recognisability increased, increasing export revenues,’ assesses the deputy director at the PAED’s Department of Internationalisation of Enterprises, Izabela Fiszer.

PARP is a state institution subordinated to the minister responsible for the economy. It manages funds from the state budget and the European Union intended to support small and medium-sized enterprises and the development of human resources.

Arkadiusz Słomczyński