The Cosmetic OEM/ODM Market Is Estimated To Increase At A CAGR Of 5.01 Percent During The Forecast Period 2019-2026

Posted By : arorasurbhi on 2022-05-17   06:00:30    India
  Cosmetic OEM/ODM Market

Description

Original Equipment Manufacturer:

OEM stands for "Original Equipment Manufacturer" in the cosmetics sector, which indicates the OEM owns the creation and formulation of a specific product. It is also known as 'private label,' where the OEM is its original manufacturer. On the other hand, ODM (Original Design Manufacturing) businesses produce the overall design and specs of items marketed by cosmetic companies under their names. In addition, ODM firms develop their concepts and formulations into physical and practical cosmetic items for enterprises with limited resources in building and creating products.

Market Analysis:

The global Cosmetic OEM/ODM Market was valued at USD 49.25 billion in 2018 and is expected to increase at a CAGR of 5.01 per cent from 2019 to 2026 to reach USD 72.27 billion. Rising consumer awareness of the harmful effects of chemicals used in beauty products on the skin, growing consumer preferences for organic beauty products, significant increases in disposable incomes over the last decade, and changing lifestyles are some of the factors that will propel the market forward.

Over the past decade, a significant rise in disposable incomes, expansion in global economies, changing lifestyles, and rising needs for skin and sun care products due to varied climatic conditions are the primary market drivers for the Global Cosmetics OEM/ODM market.

Read More: https://coherentmarketblogs.blogspot.com/2021/08/the-cosmetic-oemodm-market-is-estimated.html




About Author

arorasurbhi Delhi India
I am a blogger and I write Report Oriented Blogs

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