Cosmetics ODM Market Growth Analysis | 2023-2028

"The Global Cosmetics ODM Market is estimated to grow from USD 13.09 billion in 2022 to USD 18.72 billion by 2028 at a CAGR of 6.08% during the forecast period"

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Market Dynamics

Introduction

An ODM (Original Design Manufacturer) in the cosmetics industry is a company that designs and manufactures products that are eventually sold under another company's brand name. These companies provide end-to-end services, including product formulation, packaging design, manufacturing, and often even regulatory compliance, enabling brands to bring products to market without handling the production process themselves.

Market Drivers 

Increasing spending on cosmetics and personal care products for personal grooming coupled with rising per capita disposable income of the consumers is driving the market growth.

• Furthermore, the shift toward social media marketing by cosmetic companies to stay connected with consumers and increasing penetration of e-commerce platforms selling the products is likely to spur market growth considerably during the review period.
• Growing preference for natural and organic beauty products is anticipated to create lucrative opportunities for the players operating in the global cosmetics ODM market during the review period.
• However, increasing regulations about the usage of cosmetic and personal care products that are based on chemicals due to their side effects are likely to hamper the market growth.

COVID-19 Impact on Global Cosmetics ODM Market

The global beauty & personal care industry has been hit hard due to the outbreak of coronavirus. The outbreak resulted in the enforcement of lockdown which affects the supply chain and manufacturing of cosmetics. Also, consumer spending on cosmetics particularly colour cosmetics declined during the lockdown period.  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.

Segment Analysis

Product Type Trends

"Skincare segment accounted for more than a 31% share of the market during the forecast period"

• Based on product type, the market has been segmented into skincare, makeup, haircare, and others.
• The skincare segment accounted for more than a 31% share of the market and is likely to dominate the market in the coming years owing to increasing skin health concerns among consumers.
• In addition, the rising demand for organic and natural skincare products such as lotions and creams is likely to fuel the demand significantly.

Regional Trends

"Asia Pacific accounted for the largest market share in 2022"

• Regionally, Asia Pacific accounted for the largest market share in 2022 and is expected to grow at the fastest CAGR during the review period.
• The market growth can be attributed to increased spending on personal care products particularly by the young population due to rising appearance consciousness.
• Additionally, increased spending on R&D activities to develop organic and premium skin & hair care products is likely to propel the market growth in developed regions.

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Key Players

The following are the key players in the Cosmetics ODM Market  (arranged alphabetically)

• ANC Corporation (South Korea).
• Ancorotti Cosmetics Srl (Italy),
• BioTruly Group (China),
• COSMAX CO., LTD (South Korea),
• CAOLION (The U.S.), and
• COSME PARK (Japan),
• Cosmecca Korea (South Korea),
• Intercos Group (Italy),
• Nox Bellow Cosmetics Co., Ltd (China),
• Quality Plus Aesthetic International Co., Ltd. (Thailand),
• Toyo Beauty Co. Ltd (Japan),

Note: The above list does not necessarily include all the top players in the market.

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Report Features

This report provides market intelligence most totally. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

What Deliverables Will You Get in this Report?

Research Methodology

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.

More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles have been leveraged to gather the data.

We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both qualitative and quantitative insights.

Report Customization Options

Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to three players)
• SWOT analysis of key players (up to three players)

Competitive Benchmarking

Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

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