Cosmetic Europe Week 2015 was held successfully from 16th June to 19th June in Brussels, Belgium. ChemLinked was given an exclusive interview with the president of Cosmetic Europe, Loïc ARMAND.
“The idea of Cosmetic Europe Week is to make this week the one event to get people interested in the future, in the present, to make possibilities, to exchange practices, views and share ideas.”
This year, Cosmetic Europe Week included the International Science and Regulation International Conference, a policy-oriented European Cosmetic Forum, attracting over 250 attendees including policy makers, associations, regulatory experts and a strong showing from numerous cosmetic enterprises.
Cosmetic Market Growth in 2014
Armand shared detailed figures on the value of the European market in 2014 valuing it at 72billion Euros making it the most important market in the world.
“The Cosmetic market has been very resilient during the crises since 2008, the market picked up in 2014 growing by 0.5%.” he continues, “this is a business that is useful and important to make people look better, live better and feel good.”
Challenges
“Trade figures do show obvious signs of a market recovery, and the cosmetic industry has performed better than other industries since the start of the economic crises”.
“The fact is that in the 20 years, there will be an additional 1.5 billion people in the world who will have significant purchasing power, the new consumers!”
“And China is a part of the challenge, China is developing now, there is a strong, valuable and interesting Chinese cosmetic industry. It is fascinating to see the strength of Chinese manufactures in the cosmetic field. Both the Chinese and European industry have a role to play to bring these new consumers the products they need.” he continually emphasized “and it has to be done now.”
The considerable potential new consumers offer is a challenge and chance for the global cosmetic industry, Armand also pointed out that the digital revolution also means a lot for some countries, like China. Development in E-commerce and increasing global trade will provide a key impetus for regulatory convergence.
“It’s a revolution; E-commerce has implications for the way regulators consider regulation. We have to overcome the current approach taken by individual nations and regulators of approaching cosmetic legislative development and regulation in a vacuum without considering what is most appropriate on a global stage. We must be together, talk together and work together to help align international best practice and propel the convergence of regulatory models in order to ensure the safety of the consumer, the protection of environment, and the ability/freedom to innovate”
International Cooperation
As the European cosmetic regulatory model is recognized as the gold standard, Cosmetic Europe also took the chance to better explain the model in order to avoid any misinterpretation by other countries. As for China’s cosmetic regulation it presents numerous technical and ethical barriers to overseas countries, Cosmetic Europe is actively involved in communicating with the CFDA.
“We are also happy that we have good cooperation with Chinese industries, and Chinese authorities. We respect Chinese authorities to control the safety of the market. And we want to tell all that we are ready to work together with them in order to do it better.” he continues, “and when we work together we have a win-win situation. Europe is looking to the Far East, China and the rest of Asia are looking towards Europe. The only way to maximize the benefit for all is by working together, not raising barriers.”
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