Cosmetics OEM ODM Market Report
Global Cosmetics OEM/ODM Market, Trend, Dynamics, and Market insights See less
Global Cosmetics OEM/ODM Market, Trend, Dynamics, and Market insights
This market research report is segregated by Type (OEM, ODM), Application (Skincare, Makeup, Haircare, and Other), and Region. It provides in-depth information on trends, dynamics, revenue opportunities, competitive landscape, and recent developments in the global Cosmetics OEM/ODM market. The historic years considered for the study are 2016-2019, the base year is 2020, the estimated year is 2021, and the forecast period is 2022-2026.
The Global Cosmetics OEM/ODM market is estimated to grow from USD 53.4 billion in 2020 to USD 71.4 billion by 2026 at a healthy CAGR of 5% during the forecast period.
Figure: Global Cosmetics OEM/ODM Market Size, 2020-2026 (USD Billion)
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Cosmetics OEM (original equipment manufacturer) is defined as a company that is engaged in the creation and formulation of cosmetic products in private labels for other companies. Most of the cosmetics products available in the market are produced by OEMs. Cosmetic ODM is defined as the company that designs and manufactures the product and sells it in the market under its name. The usage of OEM in the cosmetic industry provides benefits such as high profit margin, original product, and intellectual property.
However, increasing regulations about the usage of chemical-based cosmetic and personal care products due to their side effects on the skin is likely to hamper the market growth.
The market has been segmented into skin care, makeup, haircare, and others.
The skincare segment accounted for more than 31% share of the market and is likely to dominate the market in the coming years owing to increasing concern regarding skin health among consumers. In addition to this, the rising demand for organic and natural skincare products is likely to bolster the market growth significantly.
Regionally, Asia Pacific accounted for the largest market share in 2020 and is expected to grow at the fastest CAGR during the review period. The market growth can be attributed to an increase in spending on personal care products particularly by the young population as a result of rising appearance consciousness. High demand for organic and premium skin & hair care products is likely to propel the market growth in developed regions.
The global beauty & personal care industry has been hit hard due to the outbreak of coronavirus.
The economic magnitude of the COVID-19 virus on retailers and brands was high, although this industry is likely to gain normalcy and prove resilient shortly. Also, some skincare product manufacturers witnessed a boost in sales during the pandemic period. With the lift of lockdown, the demand for cosmetics and personal care products is likely to gain pace and thus, support the market growth.
Critical questions answered in the report -
The demographics of customers that are most likely to buy the products are also provided by Stratview Research. Here are a few-
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Key players operating in the global Cosmetics OEM/ODM market are
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The cosmetics OEM/ODM market size is expected to reach an estimated value of USD 71.4 billion in 2026.
The cosmetics OEM/ODM market is expected to grow at an impressive CAGR of 5.0% during the foreseeable future.
Asia-Pacific is expected to grow at the fastest rate in the cosmetics OEM/ODM market during the forecast period.
The skincare segment is expected to remain dominant application type in the cosmetics OEM/ODM market in the coming years.
Intercos Group (Italy), Nox, Bellow Cosmetics Co., Ltd (China), NIHON KOLMAR CO., LTD (Japan), Cosmax Inc (South Korea), Kolmar Korea (South Korea), Cosmecc (South Korea), Cosmo Beauty Co., Ltd (Japan), Toyo Beauty Co., Ltd (Japan), RAPHAS Co., Ltd (South Korea), and Estate Chemical Co Ltd (Japan) are among the key players in the cosmetics OEM/ODM market.
Cosmetics OEM/ODM manufacturers, Skincare companies, Cosmetic companies, Logistics organizations, Cosmetics OEM/ODM distributors are the target audience in the cosmetics OEM/ODM market.