The demand for cosmetics Original Design Manufacturing (ODM) in Korea is projected to surge significantly throughout the country. By the end of the fiscal year 2024, sales for Cosmetics ODM are anticipated to hit a valuation of US$ 663.2 million. From 2024 to 2034, the demand for Cosmetics ODM in Korea is expected to grow at a Compound Annual Growth Rate (CAGR) of 6.40%. By 2034, the industry valuation is forecasted to reach US$ 1,236.50 million.
Key Trends Influencing Demand for Cosmetics ODM in Korea
- Rising Popularity of K-Beauty: The global fascination with Korean beauty products has driven the demand for cosmetics ODM in Korea. Consumers worldwide are drawn to the innovative formulations and unique packaging characteristic of Korean cosmetics.
- Customization and Personalization: There’s a growing demand for customized cosmetic products tailored to individual preferences. Cosmetics ODM in Korea is leveraging advanced technology to offer personalized solutions, allowing consumers to create products that cater specifically to their needs.
- Expansion of E-commerce Platforms: The proliferation of e-commerce platforms has significantly boosted the demand for cosmetics ODM in Korea. Online channels provide easy access to Korean beauty products, fueling demand for new and diverse offerings from ODM manufacturers.
- Sustainability and Clean Beauty: Increasing awareness about environmental issues and the preference for clean beauty products have prompted cosmetics ODM in Korea to focus on sustainability. There’s a growing demand for eco-friendly packaging and formulations, driving innovation within the industry.
Indie Brands Topping the End Use Game in the Korea Cosmetics ODM Industry
Indie Brands claims a 29.70% industry share in the Korea Cosmetics ODM Industry in 2023 due to its agility and penchant for innovation. Indie brands are emerging as leaders in the Korea Cosmetics ODM industry, dominating the end-use segment. Their innovative formulations, unique branding, and agility in responding to market trends have propelled them to the forefront. With a focus on niche markets and personalized offerings, indie brands are capturing the attention of discerning consumers seeking authenticity and creativity in their beauty products. Their success underscores the dynamic nature of the Korean cosmetics landscape.
Some of the Important Players in Korea Dealing with Cosmetics ODM
- Kolmar Korea
- Cosmax
- Cosmecca Korea
- Nowcos Co. Ltd
- Intercos Group
- Oracle OEM
- Viaderm Limited
- Herrco Cosmetics Ltd
- BioTruly Group
- Milliona Cosmetics
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Key Segments
By Product Type:
- Skin Care
- Creams
- Lotions
- Toners
- Facial Cleansers
- Sunscreen
- Face Packs/Masks
- Others
- Hair Care
- Shampoos
- Conditioners
- Hair Rinses
- Hair Dyes
- Hair Tonics
- Hair Styling Products
- Makeup
- Facial Products
- Lip Products
- Eye Products
- Nail Products
- Others
- Body Care
- Soaps
- Shower Gels
- Creams
- Foot Creams
- Others
- Others
By Nature Type:
- Natural/Organic
- Synthetic
By Packaging Format:
- Bottles
- Compact Cases
- Droppers
- Folding Cartons
- Jars
- Pouches
- Pumps and Dispensers
- Roll On
- Roll On Sticks
- Sachets
- Sticks
- Tubes
By End Use:
- Prestige Brands
- Private Labels
- Mass Brands
- Indie Brands
By Region:
- South Gyeongsang
- North Jeolla
- South Jeolla
- Jeju
- Rest of Korea
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