Cosmetic OEM/ODM Market To Surpass US$ 80.4 Billion By 2027

The global cosmetic OEM/ODM market is expected to reach US$ 80.4 million by 2027, exhibiting a CAGR of 5.7% over the forecast period. Cosmetic OEM/ODM are engaged in offering a set of processes for cosmetic brands including product formulation & designing, product filling, packaging, and trading. Cosmetic OEM/ODM for various cosmetic categories, including makeup and personal care products, are expected to witness significant growth opportunities over the forecast period.

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Major players operating in the global cosmetic OEM/ODM market include Intercos S.p.A., Kolmar Korea Co. Ltd., Scalpi Cosmética sa, Cosmecca Korea Co., Cosmax Inc., Mana Products Inc., KBL cosmetics Ltd., Urist Cosmetics Incorporated, Fareva Holding SA, Milliona Cosmetics Co., Ltd., Skinlys, Maesa SAS, Schwanhäußer Holding GmbH & Co. KG, Tricorbraun Inc., Herrco Cosmetics Limited, Architectural Beauty, Allure Labs Inc., Case Mason Filling, Inc., Pardaco Trading Pte Ltd, and KDC/ONE among others

North America held significant market share in the global cosmetic OEM/ODM market in 2018, owing to increasing demand for personal care and cosmetics. According to Economic & Social Contributions Report published by The Personal Care Products Council, the personal care products industry added around US$ 237 billion to the gross domestic product (GDP) of the U.S. in 2013, whereas in 2014, manufacturers of personal care products exported US$ 16.9 billion worth of products.

Market Dynamics

The demand for innovative beauty and personal care products is increasing significantly. Several new innovative beauty and personal care products are being launched in the market. For instance, in August 2019, Tom Ford Research introduced a new luxury skin care line with ingredients such as caffeine, cacao, and gyokuro.

Rising awareness regarding toxic effects of chemicals used in BPC products has led to a shift in consumer preference towards organic and natural ingredient-based products. Cosmetic OEM/ODM have witnessed growth opportunities in production of organic products or products formulated with extracts derived from natural products such as seeds, fruits, and flower extracts. For instance, according to data released by the Organic

The global cosmetic OEM/ODM market was valued at US$ 50 billion in 2018 and is expected to exhibit a CAGR of 5.7% over the forecast period (2019 – 2027), to reach US$ 80.4 billion by 2027.

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Detailed Segmentation:

Global Cosmetic OEM/ODM Market, By Product Type:
Color Cosmetics
Skin Care
Hair Care
Fragrance

Global Cosmetic OEM/ODM Market, By Packaging Category:
Lipstick Containers
Lip Gloss Containers & Tubes
Cosmetic Pen
Powder Dispensers
Cushion
Bottle With Cap
Bottle With Pump
Compact
Face Stick
Tube
Jar with Cap
Mascara Packaging
Others

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This release was published on openPR.