by Cosmetic OEM and ODM products refer to skincare and makeup products such as foundations, concealers, blushes, lipsticks, eyeliners, and eyeshadows that are developed and manufactured by third-party manufacturers on behalf of beauty brands. These products provide enhanced efficacy, high quality finish and customized solutions to meet the evolving needs of consumers. Cosmetic OEM and ODM helps brands focus on design, formulation R&D and marketing while reducing capital costs.
The Global Cosmetic Oem, Odm Market is estimated to be valued at US$ 63.74 Bn in 2024 and is expected to exhibit a CAGR of 6.4% over the forecast period 2024 To 2031.
Key Takeaways
Key players operating in the Cosmetic Oem, Odm market are IBM Corporation, Zinc8 Energy Solutions Inc., PolyPlus Battery Company, Panasonic, Tesla, Fuji Pigment, and Breathe Battery Technologies Limited. These players are focusing on developing sustainable packaging and formulas to meet rising demand for eco-friendly beauty products.
The Cosmetic Oem/Odm Market Demand for organic and natural cosmetic products is driving. Consumers are increasingly looking for products with fewer chemicals and more natural ingredients. OEM/ODM manufacturers help brands to quickly adopt formulation changes and launch natural products.
The global expansion of major beauty brands into emerging markets of Asia, Latin America, Middle East and Africa provides growth opportunities for cosmetic OEM and ODM players. Localizing production and supply chains help brands to negotiate trade barriers and cultural nuances to capture untapped demand.
Market Key Trends
Emphasis on sustainable packaging is a key trend in the cosmetic OEM and ODM market. Manufacturers are investing in lightweight and recyclable glass replacements, biodegradable pouches and paper-based refill packaging models. This helps beauty brands strengthen their sustainability credentials and meet the evolving needs of environmentally conscious consumers.
Porter’s Analysis
Threat of new entrants: Established players have economies of scale and brand recognition which acts as deterrent for new players.
Bargaining power of buyers: Buyers have low bargaining power due to availability of wide product options and established brand presence.
Bargaining power of suppliers: Suppliers have moderate bargaining power due to availability of substitutes and dependence of buyers on a few key raw materials.
Threat of new substitutes: Threat is moderate as substitutes require significant R&D investments and time for market acceptance.
Competitive rivalry: The market is concentrated with presence of global giants leading to high competition on product innovation and pricing.
Geographical Regions
North America accounts for the largest share in the Cosmetic Oem/Odm Market Regional in terms of value owing to high per capita cosmetic consumption and presence of major brand owners in the region.
Asia Pacific is expected to be the fastest growing region during the forecast period attributed to rising incomes, growing middle class population and their increasing spending on personal care products in countries such as China, India and South Korea.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
About Author - Money Singh
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemicals and materials, defense and aerospace, consumer goods, etc. LinkedIn Profile
