Exports are a major growth driver for companies in the French perfume and cosmetics industry, which is a world leader in a fast-growing global market worth 600 billion euros, driven mainly by Asia, with annual growth of around 5%. Cosmetic Valley is present at major trade shows to support SMEs and start-ups in their international development and facilitate their access to new export markets. It also organizes international B-to-B operations, such as the one carried out in South Korea from May 22 to 27.
South Korea is one of Asia's most prosperous markets. Less than ten years after deploying an ambitious K-beauty strategy, the country, whose domestic market is set to reach €5.7 billion in 2021 (Source: Ministry of Food and Drug Safety- South Korea), became the 5th largest in Asia in the same year.ème the world's leading exporter of cosmetics, with over €6 billion in exports. On April 5, 2022, Seoul announced an investment of more than €150 million to promote K-beauty, and Cosmetic Valley has just organized an economic mission to meet K-beauty players and lay the foundations for a strategic partnership between South Korea and France. The aim is to strengthen research and training collaborations between universities, support innovation by start-ups and SMEs, and develop the regional appeal of both destinations.
Supported by the European Commission within the framework of the Global Cosmetics Cluster Europe (GCC.EU), this mission organized with the support of FKCCI enabled
8 French companies from 5 regions promote their products and expertise, and identify customers and distributors: Ouate (Hauts-de-France), Technature (Bretagne), Ecomundo (Ile-de-France), Laboratoires Téane (Centre-Val de Loire), La Bouche Rouge (Centre-Val de Loire), Klytia (Ile-de-France), Ecocert (Occitanie), SDP Lab (Ile-de- France).
On the institutional front, Christophe Masson, Managing Director of Cosmetic Valley, signed several partnerships with Osong Biovalley, the Ibita cosmetics association, distributors and the FKCCI. Discussions with the economic services of the French Embassy in Seoul and the local Business France office led to the establishment of action plans to strengthen France's presence in this strategic market.
During this mission, a number of actions were carried out to promote French values
on the Cosmobeauty trade show with the support of the Vie (Volontaire international en entreprise) dedicated to the perfumery-cosmetics industry, present in Seoul since February 2022 thanks to the French government's stimulus plan.
