Global Cosmetics ODM Market: Overview
An original design manufacturer or ODM refers to a firm that manufactures and designs a product and that finished product is branded and sold by another firm, eventually. These companies enable the branding firm to make, either entirely or as a supplement, the product sans any engagement with the running of the factor or within the organization.
The global cosmetics ODM market is anticipated to be influenced by the changes that are taking place in the personal care and cosmetics industry. It is difficult to make predictions about the trends in the cosmetic industry as the industry is driven by consumer demands. Demand of consumers is dependent on demographics, ethnicity, and age. The skincare products are immensely popular in the cosmetic industry. As such, the skincare sector is likely to play an important role in the development of the global cosmetics ODM market in the years to come. Various products in this segments, such as gels, moisturizers, BB creams, sunscreens and others are anticipated to gain increased popularity in the years to come.
With relentless changes in the consumer demands, manufacturers of cosmetic products are striving to introduce new items and increase the sales of ODM companies. Seasonal trends play an important role in the cosmetic industry as depending on the season, several products are launched and made available. Similar trends can be observed in the global cosmetics ODM market as well.
Product type, distribution channel, application, and region are the two important parameters based on which the global cosmetics ODM market has been classified.
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Global Cosmetics ODM Market: Notable Developments
One of the relevant and important developments of the market that gives a quick view of the dynamics pertaining to global cosmetics ODM market is mentioned as below:
- On August 2017, Intercos S.p.A., manufacturer and distributer of cosmetic products, acquired makers and distributers of personal care products, Cosmint S.p.A. The move is anticipated to the creation of one of the largest B2B groups in the beauty products sector. It will facilitate the company to diversify their product portfolio and expand their global footprint.
Some of the prominent organizations in the global cosmetics ODM market comprise the below-mentioned:
- Nihon Kolmar Co. Ltd
- Nox Bellow Cosmetics Co. Ltd
- Intercos S.p.A.
- Kolmar Korea
- Ancorotti Cosmetics Srl
- Toyo Beauty Co Ltd
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Global Cosmetics ODM Market: Key Trends
The global cosmetics ODM market is characterized by the presence of the following restraints, drivers, and opportunities.
Emergence of Numerous Grooming Trends on Various Social Media Platforms to Bolster Demand
As personal grooming gathers popularity amongst both women and men, there has been too many launches of varieties of products. In addition, countless trends emerging every now and then make it to the social media platforms. The cosmetic industry gathers unprecedented momentum from this countless trends, most of them vanishes after one season or another. Such rapidly changing trends create sustained opportunities for the players in the global cosmetics ODM market.
In addition to demand for safer, better, and newer products, consumers today are increasingly opting for products that are environment friendly. They are also increasingly concerned about t6he ethical and social ramifications of production and use of these products. As such, the ‘indie’ brands are gaining prominence rapidly as they position themselves as much-improved substitute and environment friendly products. This factor is likely to add impetus to the global cosmetics ODM market over the assessment tenure, from 2020 to 2030.
Global Cosmetics ODM Market: Geographical Analysis
The global cosmetics ODM market is forecasted to be dominated by the North America and Europe regions. With increasing disposable income and high fashion consciousness, people in these regions are likely to drive the demand for product throughout the period of analysis. Besides, increasing awareness about the environment is likely to generate augmented demand for environment friendly cosmetic products, which is also expected to play an important role in the growth of the regional markets in the near future.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.