Cosmetics OEM/ODM Market is Anticipated to Gain Moderate CAGR by 2027
Stratview Research delivers key insights on the global Cosmetics OEM/ODM Market. According to Stratview Research, the market is estimated to grow at a decent CAGR of 5.1% during the forecast period to reach a value of US$ 310 Million in 2027.
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The present report can be of high utility for the key decision-makers and growth strategists in terms of precise market insights, forthcoming growth opportunities, and key success factors. Especially, the report also analyses and mentions the possible impact of COVID-19 on the market dynamics. This will not only help in mitigating the uncertain business environment, but also help in rearranging the strategies and future- decisions in a fruitful manner.
Key Players
The following are some of the key players in the Cosmetics OEM/ODM Market:
• 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).
Growth drivers and Market Value:
This report, from Stratview Research Cosmetics OEM/ODM market value and growth drivers over the trend period of 2022-27. According to the report -
Cosmetics OEM (original equipment manufacturer) is defined as a company that is engaged in the creation and formulation of cosmetic products in private labels for other companies. Most of the cosmetics products available in the market are produced by OEMs. Cosmetic ODM is defined as the company that designs and manufactures the product and sells it in the market under its name. The usage of OEM in the cosmetic industry provides benefits such as high profit margin, original product, and intellectual property.
Segment Analysis:
Based on by Application Type:
The skincare segment accounted for more than 31% share of the market and is likely to dominate the market in the coming years owing to increasing concern regarding skin health among consumers. In addition to this, the rising demand for organic and natural skincare products is likely to bolster the market growth significantly.
Based on Regional:
Regionally, Asia Pacific accounted for the largest market share in 2021 and is expected to grow at the fastest CAGR during the review period. The market growth can be attributed to an increase in spending on personal care products particularly by the young population as a result of rising appearance consciousness. High demand for organic and premium skin & hair care products is likely to propel the market growth in developed regions.
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FREQUENTLY ASKED QUESTIONS
The report answers several questions related to the market. The user can get to know the answers to the following questions…
- What is the global demand for Cosmetics OEM/ODM Market in terms of revenue?
- Which are the prominent players in the market?
- At what CAGR is the market projected to grow within the forecast period?
- What are the driving factors fuelling the growth of the market?
- Which region accounted for the largest share in the market?
- How did the Covid19 impacted the market?
- How long will it take to recover from the Covid impact?
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