Cosmetics Industry Announces Export Target

Cosmetics Sector Announces Export Target Fuat Arslan, Congress President of the Cosmetics Manufacturers and Researchers Association (KÜAD), announced that the Turkish cosmetics sector exports to 162 countries and generates a trade surplus, with expectations of USD 1.6 billion in exports next year. Noting that the sector showed strong performance in the January-August period of this year with 16.6 percent growth, Arslan continued as follows: "The Turkish cosmetics sector exports to 162 countries and generates a trade surplus. Iraq, the United States, Russia and Iran lead among these countries. Iraq ranks first with USD 150.3 million, the United States ranks second with USD 105.1 million, and Russia ranks third with USD 82.2 million." Arslan noted that the global cosmetics sector is expected to reach USD 750 billion by the end of 2023, and expressed the desire to increase Turkey's share of this market. Stating that the Turkish cosmetics sector will increase its market share and exports thanks to the advantages it possesses, Arslan said, "As a sector, we expect USD 1.6 billion in exports next year." Arslan pointed out that environmental awareness among consumers is increasing every day, and therefore brands need to update and transform their business models.

Sector to meet in Antalya on 1 December

Arslan announced that the 6th International Cosmetics Congress organized by KÜAD will begin tomorrow in Antalya. Stating that the three-day congress will focus on the Green Deal as this year's main theme, Arslan said that new raw materials and products will be presented at the congress, and endemic plants used in production will be exhibited at the cosmetics museum. Arslan, viewing the Green Deal as a roadmap for achieving sustainability, noted the following: "As an association, we work to increase awareness through both our efforts with companies and our annual congresses. We are aware that companies that remain outside the Green Deal process will have no chance of survival in the future. We invite our manufacturers, researchers, public stakeholders in the process, and relevant environmental and think-tank organizations to discuss this important and vital issue and prepare a roadmap for our sector."   Istanbul (AA) - Source