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Through 2031, the global ODM cosmetics market is expected to expand at a compound annual growth rate of 6.2 percent.

The cosmetics ODM market is anticipated to cross US$ 12.02 billion by 2031, growing at a CAGR of more than 6.2 percent. In addition to female beauty, male beauty has had tremendous growth over the past several years, changing trends in the ODM market for cosmetics.

Social media has brought attention to male beauty, shattering gender norms and normalising boyish skincare and makeup, which is anticipated to spur industry expansion.

By adding 3D printing technology into their products, companies in the beauty and skincare industries are expanding their capacity to personalise and customise items. Customers that want personalisation in all facets of their lives will benefit from this move.

Consumers constantly engage in self-care, whether it be for their physical or mental well-being or for their personal care. They are always looking for fresh goods and services to improve their daily lives.

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 Key Takeaways from the Cosmetics ODM Market Study

  • The U.S. will account for a value share of 87.6% in North America in 2021 as cosmetic manufacturers are increasingly focusing on technology development and product innovation.
  • Skin care products are expected to hold a revenue share of 42.9% in 2021 aided by growing preference for skincare routine among men and women.
  • Natural product segment is expected to expand at a CAGR of 7.9% from 2021 to 2031, as prominent brands are focusing on green formulation in response to the growing demand for natural ingredients.
  • In terms of packaging, cosmetic industry is more focused into safe, practical and natural formula for packaging.
  • Green packaging is the new marketing strategy followed by companies.
  • South Korea showcases major opportunities for the Cosmetics ODM

Impact of Covid-19 on the Market

The latest coronavirus outbreak has affected the ODM cosmetics market. Midway in the 2020s, a rise in Covid-19 cases led to a global lockdown and constrained supply chains. Some of the high-end beauty product stores that were closed never reopened. People are also less likely to wear cosmetics as a result of the work-from-home lifestyle, the requirement to wear masks, and social isolation strategies.

Additionally, Covid-19 decreased discretionary expenditure, and businesses noticed a shift in consumer behaviour toward safe, trustworthy, and essential products. Consumer spending on cosmetics was lower than usual, which hurt the Cosmetics ODM sector.

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Who is winning?

Global sales growth for cosmetics ODM has been fueled by strong promotional tactics, commercials, and new product introductions from leading manufacturers.

There are several significant companies operating in the cosmetics ODM market, including COSMAX Corporation, Toyo Beauty Co. Ltd., Nox Bellcow Cosmetics Co. Ltd., Picaso Cosmetic Laboratory Group, Kolmar Korea, Ancorotti Cosmetics S.r.l., Cosmo Beauty Company Ltd., Cosmecca Korea, The Fareva Group, B. Kolormakeup & Skincare S.p.a., BioTruly Group, ANC Corporation, Intercos Group

Get More Valuable Insights

Future Industry Insights presents historical demand data (from 2016 to 2020) and forecast information for the years 2021 to 2031 in its latest offering, which offers an independent analysis of the worldwide cosmetics ODM market.

Based on the product type (skin care “creams, lotions, toner, facial cleansers, sunscreen, face packs/masks, others,” the study offers fascinating information on the Cosmetics ODM market. Shampoos, conditioners, rinses, hair colours, tonics, and hair style products are examples of items used in hair care. Makeup includes items for the face, lips, eyes, nails, and other coloured cosmetics. Body care products (soaps, shower gels, creams, foot cream, etc.) packaging types (bottles, compact cases, droppers, folding cartons, jars, pallets, pouches, pumps and dispensers, roll on, roll on sticks, sachets, sticks, tubes, wraps, etc

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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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