Customization and Collaboration: Navigating the Landscape of Cosmetic OEM/ODM Market
The Cosmetic OEM/ODM Market is witnessing significant growth and transformation as brands increasingly turn to outsourcing for the manufacturing of their cosmetic products. OEM (Original Equipment Manufacturer) and ODM (Original Design Manufacturer) services offer brands the flexibility to customize formulations and packaging while leveraging the expertise of specialized manufacturers.
The global cosmetic OEM/ODM market was valued at US$ 56.3 billion in 2024 and is expected to exhibit a CAGR of 6.40% over the forecast period 2024– 2031, to reach US$ 92.5 billion by 2031.