The Spanish Cosmetic, Perfumery and Toiletry Association who hosted meetings between Spanish brands and Brazilian suppliers at a recent International trade show, reports there has been a great influx in deals in recent years.
Proof of this, STANPA Director General, Marival Diez says "is that since 2010 exports have grown by 30% reaching a total of €2.436m in 2012. In the current market, [Spanish] exports are the sector’s growth path,”
Throughout the course of the show, the Director General says roughly 40 Spanish manufacturers of skin care, hair, fragrance, colour cosmetics and hygiene products took part in these meetings, working to strengthen Spain's personal care presence in the emerging market.
The Association advises on institutional, technical, legislative and international support and often acts as a host for Spanish brands and Brazilian buyers at events like the recent Salon Look International trade show.
Spanish exports meet the highest EU standards
According to STANPA, Spanish exports to Brazil during the first half of 2013 climbed to 45% between January to July, they grew in Portugal by 22%, and to the US by 7% while exports to Argentina, meanwhile, climbed by 34%.
Overall the country's exports placed 5th amongst the EU, which Diez attributes to it meeting the highest European standards and being the fourth largest investor in R&D in the last years.
"A constant research for new essences, natural products and raw materials made by the enterprises, operating with the utmost respect for the environment, has created a wide range of innovative, high quality products," she adds.
Booming Brazilian market
According to Euromonitor, the Brazilian market is seeing an increasing number of multinational cosmetic manufacturers from Europe and North America entering the marketplace, meaning that it has become a target for specialized cosmetic ingredient distribution.
As it continues to advance, R&D and local manufacturing of cosmetic products will increase along with the domestic demand for formulation services and materials with high functionality from overseas.