Mapping of Natural Ingredients Sector in Serbia - Key Findings

Did you know that Serbia’s natural cosmetics sector is rapidly growing?

Over 60 companies are actively operating in this sector, with a majority founded between 2011 and 2024.Micro-entrepreneurs dominate the market, representing 60% of the companies surveyed. Interestingly, no large-sized companies were identified.
These are just a few highlights from the baseline study "Mapping of the Natural Cosmetics Sector in Serbia", conducted by the SIPPO Consultant Gustavo Ferro, who developed this comprehensive survey for the Chamber of Commerce and Industry of Serbia. The study serves as a starting point for identifying the needs and potential of the sector, laying the foundation for future initiatives to strengthen its competitiveness and internationalization. 
The key findings include:
✔ Female empowerment is strong: 50% of companies employ 100% women, and only 7% have no female employees;
✔ Growth potential is evident: 63% of MSMEs reported an increase in turnover over the past three years;
✔ A focus on innovation: 93% launched new products in the last three years, and 57% are planning to expand production;

✖ Export is still a challenge: Only 17% of companies export, but 33% are planning to enter international markets soon;
✖ Sustainability standards need improvement: 83% have no ecological standards, and only 3% are COSMOS-certified;
✖ Ingredient sourcing is largely reliant on imports, with 87% importing ingredients, though some are starting to source locally.
The sector holds great potential for growth, but there’s still work to be done in terms of export, sustainability, and access to funding for expansion. We at SIPPO are excited to see how the natural cosmetics sector evolves and contributes to Serbia’s competitiveness in the global market.