The cosmetics ODM market size is expected to surpass a valuation of US$ 12.02 Bn through 2021, likely to surge at a vigorous 6.2% CAGR during the assessment period. This growth is majorly driven by the expansion of the urban population across the globe, characterized by the urban upper class and high net worth individuals.
A new market research report by Future Market Insights on the cosmetics ODM market includes the global industry analysis 2014–2018 and opportunity assessment 2019–2028. The report investigates the cosmetics ODM market and provides critical insights for the forecast period of 2019-2029.
The global cosmetics ODM market is projected to experience significant growth over the forecast period due to multiple driving factors such as higher demand for personal grooming across the globe, which is supported by the increasing urban population. Increasing population, predominantly in the developing regions such as Asia Pacific and MEA, is projected to support the growth of the cosmetics ODM market over the forecast period.
Europe’s Market Attractiveness Rising
Regions such as North America and Europe are expected to hold prominent market shares in terms of value. However, the South Asia market is expected to project lucrative growth in the global cosmetics ODM market over the forecast period of 2019-2029. This growth is propelled by the rapid growth in the beauty and personal care industry in the countries of South Asia, which include India and ASEAN countries, among others. The economic condition of the South Asian countries has been developing positively.
Furthermore, owing to the rise in mergers & acquisitions, along with the diversification of the product portfolios of prominent players, are among the most important trends in the cosmetics ODM market. Prominent players in the cosmetics ODM market are focused on enhancing their presence and expanding their market shares through diverse inorganic activities such as mergers and acquisitions.
In 2016, HCP acquired SIMP for the manufacture and development of cosmetic plastic applicators and rubber technical parts for the beauty industry. The objective of this acquisition was to expand its portfolio of products related to the global cosmetics ODM market
Prestige Brand and Mass Brands to Remain Among the Key End Users
The global market of cosmetics ODM has been segmented on the basis of different types of cosmetic products, their multiple end-use brands, and regions such as North America, Latin America, Europe, South Asia, East Asia, Oceania, and the Middle East and Africa.
On the basis of end use, the prestige brand segment is expanding at a value share of ~ 60% over the forecast period. On the basis of packaging format, the revenue share of the pumps and dispensers segment is expected to account for ~ 30% by the end of 2029. By geography, Europe is expected to dominate the global cosmetics ODM market, accounting for a revenue share of ~ 25% by the end of 2029.
Cosmetics ODM Market: Vendor Landscape Analysis
The report highlights some of the prominent market players, who have established themselves as leaders in the global cosmetics ODM market. Some of the examples of key players in the global cosmetics ODM market are RPC Group Plc., Nox Bellcow Cosmetics Co., Ltd., Cosmax Co., Ltd., Intercos Group, Kolmar Korea Co., Ltd., Cosmecca Korea Co. Ltd, Nihon Kolmar Co., Ltd., Global Cosmetics (HK) Company Limited, and Chromavis S.P.A.
The global cosmetics ODM market is significantly consolidated with some players holding prominent shares of the market. These players are as Cosmax Co., Ltd., RPC Group Plc, Toyo Beauty Co., Ltd., and Kolmar Korea Co., Ltd., among others.
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