The Beauty Industry market is constantly expanding. According to a McKinsey study, the sector currently weighs $427 billion and is expected to reach $580 billion by 2027, with an average growth of 6% in the coming years. Sectors such as makeup and haircare recorded the greatest progression, with an increase of 18% in makeup and 17% in haircare.

Today, the United States leads spending in the Beauty sector, with approximately $90 billion, followed by China ($60 billion), Japan ($37 billion), and Brazil ($35 billion).

Perfumes account for over a third of global beauty turnover (36%), and the sector shows value growth of 11%. The USA spends the most on beauty, followed by China, Japan, and Brazil.

These data demonstrate the trend of significant development in Beauty & Fragrances and confirm the increasing focus on "wellness", amplified by the sharing potential of major social networks, reflecting the values of new generations.

In the rapidly evolving context of the Beauty & Fragrances industry, the launch of targeted university courses at an international level is considered a strategically important initiative for Istituto Marangoni. This initiative involves expanding the training offerings with the expertise of a professional team and prestigious partnerships with authoritative institutions such as the Accademia del Profumo and Cosmetica Italia, as well as with key industry players like Officine Santa Maria Novella, Dolce & Gabbana Beauty, Symrise, and others. Not only does this initiative promote market access for future graduates, but it also ensures that they acquire skills aligned with the sector's needs and demands for managerial professional roles.

“Thanks to collaboration with the Ministry of University and Research and the most important institutions and companies in the sector, Istituto Marangoni has managed to team up and enhance the excellence of Made in Italy in the beauty segment, which is experiencing significant and continuous growth. We are the first group in the world to have launched a structured training program in higher education focusing on the beauty and fragrances industry with a strong international scope. We firmly believe that, similar to the fashion industry, the beauty and fragrances sector will also require managers with a global mindset, strong flexibility, and brand-building skills. The training programme is the first in Italy to focus on Beauty & Fragrances with AFAM-validated courses. It aims to prepare future professionals sought after by companies in the industry, including roles such as Product Manager, Marketing Manager, Brand Manager, Licensing expert, Digital Content Manager, and Experience Marketing Manager. Students ursuing a BA or Master's degree will learn how to develop communication and content marketing strategies tailored to the world of perfumes and cosmetics. They will also gain skills in managing and promoting luxury brands, providing a strong foundation for a dynamic career in a continuously growing market," said Stefania Valenti, Managing Director of the Group.

“Higher education in the arts, music, and dance is organised as a combination of public and private institutions. Private institutions play a crucial role in training new professionals through partnerships with relevant industries. These collaborations provide unique opportunities for students to work on real projects and prepare for artistic and professional challenges. Additionally, the global perspective of private institutions contributes to cultural enrichment and the exchange of ideas and values, preparing students to be global citizens. It's also worth noting that these institutions have some of the best teachers in their fields.

According to a survey conducted by the magazine "US News" in collaboration with the University of Pennsylvania, Italy is ranked first in the world for its cultural influence. "Made in Italy" is now the third most recognised global brand. The success of Italy's cultural influence can be attributed to the competitive advantage of both public and private training, from AFAM to universities. It's important to strengthen this sector by recognizing that it's not just the material cultural heritage that creates value.

Encouraging educational programs, such as the ones offered by institutions like Istituto Marangoni, is essential to effectively address the challenges related to innovation (social and digital), internationalization, and development, as stated by Alessandra Gallone, delegated advisor to the Minister of University and Research.

“For over thirty years, the objective of the Accademia del Profumo has been to promote olfactory culture in every way. We do this by sharing the world of fragrances through art, entertainment, immersive experiences, and collaboration with the academic world. I am delighted and honoured to announce the renewed collaboration with Istituto Marangoni. It's an extraordinary opportunity to enhance the world of perfume through training and study, providing comprehensive knowledge and tools to brilliant minds. These individuals are ready to enrich the fragrance industry with new ideas and innovative approaches, which I am confident will lead to successful results for the sector as a whole," said Ambra Martone, President of Accademia del Profumo.

“Dolce&Gabbana has always supported young talents, and I am proud of this collaboration, which underlines how crucial the connection between the academic world and the world of work is. The training provided by Istituto Marangoni is a significant asset for professionals contributing to the beauty industry," stated Gianluca Toniolo, Operating CEO of Dolce&Gabbana Beauty.

Two new Master's programmes have recently begun at the Milan branch, having just received AFAM academic validation from the Ministry of University and Research. The first programme is in Fragrance and Cosmetics Brand Management and Licensing, while the second focuses on Marketing and Communication Management for Fragrances and Cosmetics. Both programmes have a diverse and internationally focused student body. Additionally, a new three-year course in Fragrances and Cosmetics Product and Communication, also validated by AFAM, will commence in October 2024.

The Florence School is planning to launch a Master's program in Olfactory Experience Management for the Luxury Industry, accredited by AFAM. This program aims to provide professionals with specialized skills for creating immersive luxury experiences.

In line with Istituto Marangoni's international focus, Marketing and Communication Master’s and BAs have been introduced at the Paris, Mumbai, and Shanghai campuses.

Additionally, the Dubai campus offers Management courses specifically tailored to the Fragrances & Cosmetics industry, providing a unique opportunity to enhance knowledge in this region, known for its significance in the Beauty sector and as one of the top perfume markets.

Source - IANS