Natural Ingredients in Colombia: a sector with high potential
Colombia is listed as the second most biodiverse country in the world, with more than 45,000 species of plants, 1,500 of which are endemic species. This explains the progressive development of the cosmetic industry based on natural ingredients and the large opportunities that lie within the sector for Colombia.
SIPPO supported ProColombia and the Chamber of Commerce of Bogotá (CCB), in its effective participation at the InCosmetics trade fair 2019 through previous workshops aimed at supporting the 6 ProColombia offices in Europe, the CCB sector consultants and the 4 companies participating in the fair in how to target the right buyers for Colombia's products. The workshops included topics such as the export strategy for natural ingredients in Europe, industry trends, late data, European market entry requirements, certifications, competition analysis, potential buyers, potential segments, marketing channels, among other topics. Also, during the fair, BSOs and exhibitors were supported for the effective realization of B2B meetings, competitor and potential buyer analysis.
- together the 4 exhibiting companies reported having made over 300 relevant contacts, over 70 binding offers and an expected export turnover of 500.000 CHF resulting from negotiations at the trade fair.
- the close collaboration between Procolombia and CCB brought to light potential and still vastly untapped synergies in the sector, resulting in the first sector wide round table held in June 2019, which officials of the Presidency of the Republic, the ANDI, PROCOLOMBIA, CCB, UNIDO, Officials of the Ministry of Environement, Swisscontact and SIPPO attended, to discuss how the sector could be further supported. A second round table is set to take place within the coming months of 2019.