Analytics, EU – Baltic States, Latvia, Markets and Companies

Latvian residents' cosmetics spending is also the lowest in the Baltics.

According to Colipa Market Performance data, European residents annually spend approximately EUR 134 on cosmetics on the average. Swiss residents spend the most on cosmetics - twice as much as Europe's average. Skin care products are the most popular cosmetics in Latvia, the same as in Europe, while decorative cosmetics are less popular.

The association's board chairwoman Ieva Plaude-Relingere told LETA that Latvian residents' spending on cosmetics was increasing. Europeans' purchasing power and willingness to spend on cosmetics is a major stimulus to cosmetics producers from not only Europe, but also from the United States, China and Japan, which ship as much as 80 percent of their cosmetics exports to European countries - Great Britain, France, Germany, Spain and Italy. Likewise, Latvian cosmetics producers are also trying to ship their products to consumers in other countries.

The Association of Latvian Cosmetic Producers was established to popularize Latvian cosmetics producers and their products in Latvia and beyond. Among the association's members are several leading Latvian cosmetic companies: Madara Cosmetics, Bio2You, Stenders, Kinetics Nail Systems, Cosmetic Lab. The total turnover of the association's members is over EUR 20 million, approximately 80 percent what the association's members produce is exported to other countries.