OEM (Original Equipment Manufacturer) and ODM (Original Design Manufacturing) businesses produce and develop the overall design and specifications of cosmetic goods in the cosmetics sector. ODM businesses transform their thoughts and formulations into actual and practical cosmetic goods for enterprises with limited resources in constructing and creating products. The ODM firms handle the R&D, product ideas, testing, and production in this method. In a nutshell, a cosmetic OEM provides formulas and specifications, whereas an ODM does the opposite.
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A significant rise in disposable incomes over the last decade, development in global economies, changing lifestyles, and growing needs for skin and sun care products due to varied climatic conditions are the major market drivers for the worldwide cosmetics OEM/ODM market. The cosmetics OEM/ODM market is expected to increase in response to consumers’ rising demand for more natural and organic beauty products, notably in the United States and Europe. As the demand for natural, herbal, and organic beauty products grows, producers will have more possibilities to innovate and develop new products that cater to customer tastes.
The global cosmetics OEM/ODM market size is predicted to reach over USD 85.22 billion. The cosmetics OEM ODM industry is entirely reliant on the market’s dynamic developments in cosmetics and personal care goods. Because the cosmetics business is driven by customer needs, forecasting trends is difficult because they vary depending on age, ethnicity, and demography. Because the skincare area of the cosmetics industry has experienced great growth, OEM manufacturers have been awarded a considerable number of contracts for the delivery of products such as sunscreens, BB creams, moisturizers, gels, and other similar items.
List of Key players includes:
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)
Key Segments of the Global Cosmetics OEM/ODM Market
By Type Overview (USD Billion)
By Application Overview (USD Billion)
By Geography Overview (USD Billion)
North America includes the United States, Canada, and Mexico
Europe includes Germany, France, UK, Italy, Spain
South America includes Colombia, Argentina, Nigeria, and Chile
The Asia Pacific includes Japan, China, Korea, India, Saudi Arabia, and Southeast Asia
Report covers Impact of Coronavirus COVID-19: Since the COVID-19 virus outbreak in December 2019, the disease has spread to almost every country around the globe with the World Health Organization declaring it a public health emergency. The global impacts of the coronavirus disease 2019 (COVID-19) are already starting to be felt, and will significantly affect the Cosmetics OEM/ODM Market in 2022.
The outbreak of COVID-19 has brought effects on many aspects, like flight cancellations; travel bans and quarantines; restaurants closed; all indoor/outdoor events restricted; over forty countries state of emergency declared; massive slowing of the supply chain; stock market volatility; falling business confidence, growing panic among the population, and uncertainty about future.
Key Questions Answered inside the Cosmetics OEM/ODM Market Report
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Cosmetics OEM/ODM Market Report Highlights:
Detailed overview of the parent market
Changing market dynamics in the industry
In-depth market segmentation
Historical, current and projected market size in terms of volume and value
Recent industry trends and developments
Strategies of key players and products offered
Potential and niche segments, geographical regions exhibiting promising growth
A neutral perspective on market performance
Must-have information for market players to sustain and enhance their market footprint
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Sarah Ivans | Business Development
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Company: Global Market Vision