The global cosmetics OEM/ODM market is expected to reach USD 77.22 billion by 2025 growing at a CAGR of 5.3% over the study period. Demand for organic cosmetics has been growing in developed as well as emerging economies. Within the U.S., more than 55% of the women considered buying natural skincare products instead of the ones containing chemical excipients available on shelf today. Consumer perception that natural products improve skin tone and texture is the key factor influencing the purchase behavior within the consumers. Herbal extracts are largely added to the skincare products owing to numerous properties such as antioxidant, pigmentation inhibition, & antimicrobial activity.
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The cosmetics OEM/ODM market is consolidated in nature with presence of well-established players occupying majority of the market share across the globe. Key players include COSMAX, KOLMAR KOREA, Intercos Technology (Suzhou SIP) Co., Ltd, COSMOBEAUTY CO., LTD., TOYO BEAUTY CO.,LTD, Raphas Co., Ltd., Nox Bellow Cosmetics Co.,Ltd, COSMECCA KOREA, ESTATE CHEMICAL Co.,Ltd.
Key players within the market are concentrating on M&A activities to increase their presence within the global market. In May 2018, Cosmecca Korea purchased stake in U.S. based Englewood Lab, Inc, worth USD 53.7 million which accounts for 34.71% of stake within the company. Acquisitions means that Cosmecca is trying to generate revenues from its subsidiaries. Cosmecca currently is focusing on North America and South East Asian countries for potential business. Furthermore, stringent regulatory scenario in European countries coupled with political conflicts with china has resulted in shift of focus for Cosmecca as of 2019.
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