The market research on handmade cosmetics in Greece reveals a landscape rich with opportunities driven by the country’s unparalleled natural ecosystem and biodiversity. With over 6500 plants and 1400 endemics, Greece offers a treasure trove of bioactive ingredients, inspiring a growing demand for natural and organic beauty products. The cosmetics industry in Greece, governed by Legislative Directive 76/768/EEC, caters to a diverse consumer base, with women historically dominating consumption but with an emerging male market. Despite economic fluctuations, the industry maintains stable sales, prompting companies to adapt strategies, including increased online marketing.
In 2024, the cosmetics market in Greece continued its upward trajectory, reaching €191.40 million in revenue (Statista market insights). Notably, everyone contributed €18.58 to the cosmetics market, indicating a significant per capita expenditure. With a growing preference for natural and organic cosmetics, accounting for 56% of sales, Greece’s market landscape is evolving to accommodate this demand. To maintain competitiveness, companies are focusing on specialized products, including handmade cosmetics, in response to evolving consumer preferences for healthier options. Despite challenges, such as economic downturns affecting consumer spending, the cosmetics industry in Greece demonstrates resilience and adaptability, presenting ample opportunities for brands to innovate and cater to the thriving market segment prioritizing authenticity and wellness.
As shown in the picture below, based on Statista Market Insights, the use of natural cosmetics tends to increase throughout the years, anticipating reaching the higher levels by 2028.
2. Analysing the competitive landscape in Greece
Analysing the competitive landscape in Greece’s handmade cosmetics sector reveals a diverse market populated by both established players and emerging artisans. With a focus on natural and organic ingredients, brands vie for consumer attention through innovative formulations and authentic storytelling.
Nymphes cosmetics
Nymfes Cosmetics, inspired by the breathtaking landscapes of Greece, crafts eco-conscious cosmetics blending science and creativity, paying homage to Greek mythology through their products named after the divine spirits, the Nymphs. Their founder’s background in chemistry and pharmaceutical R&D drives the meticulous formulation of each product, offering luxurious yet sustainable alternatives that embrace the beauty of imperfections.
ThalaSea Handmade Cosmetics
ThalaSea is a Greek company based in Heraklion Crete. Their products are crafted with care and dedication and are meticulously formulated to rejuvenate the body and uplift the spirit. They offer handmade health, wellness and beauty products for women and men of all ages.
Hazel Cosmetics
Handmade zero waste cosmetics such as organic olive oil soaps and solid shampoos, created in Greece, from 100% natural ingredients of high quality for a wonderful feeling, intense fragrance and natural skin care.
Sapon Cosmetics
Τhey create handmade high quality care products, with nature’s pure materials. They use Greek olive oil, herbs and citrus, tested ingredients and raw materials that suit every skin type with moisturizing and healing properties.
Kalliope’s
As a family business nestled in a mountain village, Kalliope’s focus is on providing a healthy and ethical alternative to commercial cosmetics, driven by their commitment to pure botanical extracts sourced from wild plants or organic farming. Combining traditional botany with modern scientific research, they continuously evolve their formulations, prioritizing sustainability by minimizing energy consumption and pollutant production in their harvesting and manufacturing processes.
Apeiranthos skin
Apeiranthos is a company which produces natural and handmade skin products using ingredients which are natural and free of synthetic ingredients such as dyes, fragrances, and parabens. Apeiranthos believes in the power of nature.
Greets-Born in Greece
GREETS is a natural cosmetics brand with products based on Greek organic olive oil, Mediterranean herbs and natural extracts.
Unique selling points (USPs) for the above competitors
A unique selling point (USP) is crucial for businesses as it defines their distinct position in the market, highlighting the value they offer and the problems they solve compared to competitors. Clearly communicating a strong USP helps customers differentiate between options and drives them to choose your product or service over others, ultimately enhancing your marketing effectiveness and attracting new customers.
1. Nymfes Cosmetics: The unique selling point of Nymfes Cosmetics lies in its fusion of Greek nature-inspired luxury with eco-consciousness and scientific precision. By drawing from the enchanting landscapes and mythological heritage of Greece, combined with meticulous formulation rooted in pharmaceutical R&D, Nymfes offers a distinctive range of handcrafted products that celebrate tradition, mythology, and sustainability, inviting customers to experience the essence of Greek nature in every use.
2. ThalaSea: The unique selling point of ThalaSea lies in its commitment to crafting handmade health, wellness, and beauty products inspired by the rich natural resources of Greece, particularly Heraklion Crete.
3. Hazel cosmetics: Crafted with love in Greece, these products, such as organic olive oil soaps and solid shampoos, offer customers a luxurious experience while minimizing environmental impact. By using 100% natural ingredients of high quality, these cosmetics deliver a wonderful feeling, intense fragrance, and effective natural skincare, catering to environmentally conscious consumers who seek both indulgence and eco-friendly alternatives in their beauty routines.
4. Sapon Cosmetics: The unique selling point of their handmade high-quality care products lies in their devotion to natural cosmetics and the use of nature’s materials and pure raw materials, especially olive oil.
5. Kalliope’s: The unique selling point of Kalliope’s products stems from their status as a family business, operating out of a small workshop in a mountain village, and their dedication to offering a healthy and ethical alternative to commercial industrial products.
6. Apeiranthos skin: By harnessing the power of nature, Apeiranthos offers customers skincare solutions that prioritize purity and authenticity, providing peace of mind and tangible benefits for skin health.
7. Greets-Born in Greece: The unique selling point of GREETS lies in its focus on natural cosmetics crafted from Greek organic olive oil, Mediterranean herbs, and natural extract
3. Understanding consumer preferences and demands In Greece
Greek consumers exhibit a strong inclination towards cosmetics made with natural and organic ingredients, reflecting a broader trend towards authenticity and wellness. Handmade cosmetics that highlight locally sourced botanicals, traditional remedies, and sustainable practices resonate deeply with consumers, aligning with their desire for genuine products. Moreover, Greece’s rich cultural heritage influences consumer preferences, with products inspired by ancient beauty rituals, mythology, and natural landscapes evoking a sense of pride and connection. Quality and efficacy are paramount for Greek consumers, who prioritize handmade products offering tangible benefits such as hydration, nourishment, and skin health improvement. Aromas and fragrances hold significant importance, with Greeks valuing sensory experiences that evoke emotions and memories. Packaging and presentation play a crucial role, with artisanal products adorned in eco-friendly, visually appealing packaging reflecting the brand’s commitment to sustainability and craftsmanship. Additionally, offering personalized and customizable options enhances consumer engagement, allowing Greek consumers to tailor products to their individual needs and preferences, fostering stronger connections between brands and their audience.
In summary, despite Greece’s favourable environment for the natural cosmetics industry, few companies have effectively understood consumer needs. Research indicates that consumers place significant importance on the country-of-origin of products. Therefore, it’s recommended that companies highlight the region of their ingredients through packaging and marketing strategies, emphasizing the purity of the production process. By promoting the harvest and production of natural ingredients, firms can appeal to both traditional and younger consumers. Additionally, Greek natural cosmetics companies should prioritize controlling the sources of consumer information, particularly word-of-mouth through social media. The research underscores the powerful influence of word-of-mouth on consumer perceptions, highlighting the need for companies to actively manage their online reputation.
4. SUMMARY
The handmade cosmetics market in Greece continues to thrive, driven by evolving consumer preferences towards natural, sustainable, and locally crafted products. With a burgeoning array of artisanal brands and established players competing for market share, the industry is characterized by innovation, authenticity, and a commitment to ethical principles. As consumer awareness regarding the benefits of handmade cosmetics grows, the market is poised for further expansion, presenting opportunities for both established brands and emerging entrepreneurs to capitalize on this burgeoning trend.
GROWTH MODEL FOR GREEN, DIGITAL, AND RESILIENT ENTREPRENEURSHIP FOR EUROPEAN YOUNG PEOPLE
2023-1-SE02-KA220-YOU-000152804
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