Makeup, Packaging Suppliers on War Impact, Product Innovation at Cosmoprof Worldwide Bologna

BOLOGNA, Italy — Tariffs, war in the Middle East and overall global geopolitical tensions slightly dampened the mood of exhibitors at Cosmoprof Worldwide Bologna, but the industry still turned out in force.

The four-day trade show that closed on March 29 and showcased 3,104 companies from 68 countries, drew more than 255,000 visitors from 150 countries. The attendance was in line with last year’s edition and consolidated the industry’s attractiveness despite the macroeconomic hurdles.

According to market analysis by Euromonitor International shared by the fair’s organizers, the global beauty and personal care market will continue to grow, as its value is expected to increase from $635.2 billion in 2025 to $678.3 billion this year. Longer-term projections forecast it will reach $826.1 billion by 2029, with an average annual growth rate of 7 percent expected for the next four years. 

Skin care is expected to reach $198 billion by 2028, while in the shorter term, fragrance will be one of the most dynamic categories, with sales expected to grow 9.2 percent in 2026, followed by sun care and color cosmetics, projected to increase 7.8 and 6.8 percent, respectively.

In Bologna there was much buzz around the professional channel, too, with a particular focus on hair care. According to Euromonitor, the global hair care market will grow 6.6 percent in 2026 and exceed $116 billion by 2028.

The Business Outlook: Eyes on East and Fast Hands

Despite shipment delays, logistic issues and increasing prices of raw materials, beauty and packaging manufacturers were also cautiously optimistic.

Renato Semerari, chief executive officer of cosmetic manufacturing powerhouse Intercos Group, expects the company’s top line to grow between 5 and 6 percent in 2026 versus 2025, when the group’s net sales slightly exceeded the 1 billion euro threshold, almost flat compared to the previous year at constant exchange rates.

“In 2025 we wanted to rebalance our mix, reducing the share of packaging we sold with our products, which inevitably had an impact on our top line,” said Semerari. He added the group “focused more on our core business, makeup,” which returned to account for more than 60 percent of total sales last year.

To be sure, the category was the best-performing business unit in 2025, with sales up 5.7 percent to 655.2 million euros versus 2024. Conversely, sales of skin care were down 3.6 percent to 161 million euros, as the strong results in Europe, the Middle East and Africa and Asia were not enough to offset the decline in the U.S. Ditto for the hair and body business unit, whose sales decreased 16.9 percent to 231.1 million euros versus 2024.

“We also had two factors we didn’t take into consideration at the beginning of last year, like the tariffs and the impact they had on the American market, and the unfavorable exchange rate trends,” said Semerari.  

While the company’s sales in the Americas and in the EMEA regions were down 1.1 and 5 percent, respectively, the ones in Asia continued to grow, with Intercos Group reporting a 6.4 percent uptick to 225.5 million euros in sales in the region last year.

“Asia will be the area which will grow the most in the coming years. That’s also mathematically obvious, considering the number of the population and the average spending,” said Semerari, adding that the company is also investing in Southeast Asia with a strategic partnership with Meiyume signed last year. “We’re also betting big on India. We’re seeing very promising results, not only for its population but for its long-standing ties with color.…India will be the China of the future, the number-one market.”

Gotha Cosmetics CEO Paolo Valsecchi agreed on the potential of the Indian market in the long term but has eyes set on the U.S. for the year. He said the company has screened more than 100 firms and plots to make an acquisition Stateside by the end of 2026 to boost its skin care proposition and have a more balanced portfolio.

Meanwhile, Gotha is also reaping the benefits of the investment made in China in 2022, when the Italian makeup manufacturer acquired the formulation and filling company iColor Group. While Gotha’s sales are still mainly split between Europe and the U.S., Asia is where the present and immediate future of the industry lies, according to Valsecchi.

“Speed makes all the difference, and that’s why China or South Korea are doing great. There’s no European or American brand that can keep up with that pace.…More than the product itself, now a brand’s success is defined by its speed,” said Valsecchi.

This factor encouraged competitor Chromavis not only to open an office in Shanghai in November to study the market up close, but also set up Startup Studio in its Italian headquarters. This is the evolution of the Atelier project the cosmetics manufacturer introduced in 2021, when it created “a factory within a factory” to offer its clients the opportunity to customize ready-to-go products in one day and take them to the market in just three weeks.

Enhancing efficiency, operational processes and product innovation via investments in new technologies drove Art Cosmetics’ performance last year, when the Italian makeup manufacturer reported 122 million euros in sales. “We’re definitely more flexible and agile compared to the past, also in terms of reacting to our clients’ time-to-market demands,” said managing director Marco Quotadamo. “Now even the most advanced innovation needs to be delivered way faster, so we’ve been working in making sure than even if our formulations get more complex, the timelines can get shorter.”

While Art Cosmetics has invested more than 50 million euros over the past decade to enhance its facilities, including setting a new plant dedicated to the production of powders near its headquarters, last year it made its first moves to explore business opportunities in the Middle East. Given the current situation in the region, it is now looking to Far East, too. “Conversely to the Middle East, which from a product viewpoint is more similar to our market, the Far East requires a more vertical approach so there might be a need to partner with a local player to develop products fit for that market,” said Quotadamo.

As for the conflict in Middle East, Quotadamo said even if there are no immediate repercussions, “the supply chain will be impacted somehow.…We’re in standby, hoping this won’t be a tsunami.”

Looking Ahead: War Woes and New Opportunities

“It’s too early to judge,” said Bakic’s CEO Dominic Bakic, whose packaging company grew by double digits last year. “On one side, you’ll see impact on consumers, like standard cost of living going up and weakening demand for products. On the supply side, raw material prices might rise.…We don’t have any supply chain disruptions so far, and I’m not expecting that, but shipping costs increased quite a bit. So again, it’s all about jiggling around, finding the right spots where to buy and where to sell. It’s every year now, we’re used to these challenges,” he quipped. 

Semerari pointed to delays in the supply chain as his biggest concern, too. “We’re working to minimize the impact of this,” he said, underscoring that the Middle East is a relatively small market for Intercos Group, which generates about 3 percent of its total sales in the region. “But there will be also an impact on consumers’ sentiment to take into consideration,” he added.

For Denis Maurin, president of sales and innovation at packaging giant HCT by Kdc/one, the impact on raw materials was a priority. “Not only prices can go higher but what if a material is lacking altogether? That would be an issue,” he said. 

Product Innovation: No-waste Solutions and Transformative Formulations

A given by now, the sustainable theme was still a key driver of innovation, along with new gestures in delivery systems that pointed to the toy-ification of packaging, aimed at helping brands to engage with a demanding consumer who is less loyal and always on the hunt for the next (beauty) dopamine rush.

“I still think that one of the main subjects is how to experience a product, and packaging plays obviously a major role with it,” said Bakic, pointing to a sense of playfulness favored by Gen Zers, for example.

Ficcadenti confirmed the ever-increasing demand for customization. “But it’s evolving into fragmentation. In the past, customization in packaging served mainly to identify a brand, now it’s for different limited series [under a brand]…and it doesn’t pertain to just the vessel’s shape or color but also the applicator, for example — all in the quest of making the experience more efficient and enjoyable for the consumer,” he said.

In the same spirit, Aptar Beauty presented the NeoDropper Autoload, a new dropper designed for prestige and dermocosmetic brands that comes with automatic filling and a short applicator for enhanced hygiene, formula protection and precision dosing, that eventually prevents waste.

Bakic agreed the mists and gel-to-mist sprays are “definitely a trend that we’re seeing right now,” as well as applicators evolving and becoming bigger and bigger to address hair or body usage. The bourgeoning hair care category and consumers’ quest for personalized and multistep routines inspired by skin care propelled the firm’s new Inova Mini Spike tube, featuring an applicator head with flexible tips that massage the scalp, support improved absorption and overall product performance.

The water-activated shampoo sheets by South Korea’s Woorikidsplus start-up also moved in the same dosage-controlled direction and looked to reduce single-use plastic. Ditto for QPearl’s CycleOne by Romania’s Cahm Europe, a recyclable stainless steel dispenser housing pearls made from a patented smart biomaterial that break down upon contact with water to release a cleansing gel.

Multifunctionality also informed formulations, that bet big not only on the sensorial quotient with transformative and hybrid textures but on high performance with an extra focus on active ingredients and biomimetic innovation.

At Intercos Group, launches included the Prisma Stick gel-powder product reinventing the application of powders, as well as alternative ways to apply fragrances or mists enriched with SPF.

Three-dimensional compact powders in different textures were seen at Gotha Cosmetics and Chromavis. The former also presented a balm-to-oil lip product and the Flat Iron Concealer Stick. The latter spotlighted the Everveil setting powder, a triple-hybrid setting compact powered by two patented technologies resulting in a gummy-to-powder texture that reflects light.

The longevity trend trickled also at Art Cosmetics. The company pushed formulations’ performance to mimic the effect of professional treatments, as it shared analysis about the growth of nonsurgical procedures, a market expected to reach $46 billion by 2026. Formulas aimed at reshaping, smoothing and illuminating the skin via amino acids, peptides and exosomes optimizing skin longevity, like in the cryo-inspired Cryo Helix DNA lipgloss claiming to deliver fresher, plumper-looking lips.