As to Future Market Insights' latest industry report, the global cosmetic CDMO market is projected to have a valuation of US$ 21,230.4 million by 2022. From 2024 to 2034, the market is expected to expand at a compound annual growth rate (CAGR) of 5.8%.
Cosmetic CDMOs are valuable partners for cosmetic brands, helping them bring products to market efficiently and cost-effectively while ensuring product quality and regulatory compliance. Their expertise and resources enable brands to focus on marketing, distribution, and other aspects of their business, while the CDMOs handle the technical and manufacturing aspects of cosmetic production.
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Consumers have diverse skin types, concerns, and preferences. Brands seek CDMOs that can create unique formulations tailored to specific customer segments, allowing them to address a broader market. Brands would want to offer product variations to cater to customer needs, such as multiple shades of foundation or skincare products.
Brands aim to stand out by offering customized or personalized products. CDMOs help brands differentiate themselves from competitors by providing customization capabilities.
Personalized products can foster brand loyalty, as consumers appreciate products uniquely tailored to their preferences. Brands seek CDMOs to create these loyalty-building experiences.
Brands are introducing innovative ingredients and benefits in their products. CDMOs can be pivotal in formulating and producing these unique and innovative cosmetic products.
In addition, personalization trends often drive the need for adaptive formulations that adjust to individual skin types and concerns. CDMOs work on developing new formulations that can be adjusted according to customer needs.
Key Takeaways:
- By service, the contract manufacturing segment will display a CAGR of 5.5% over the forecast period.
- By product type, the skin products segment is set to witness a lucrative CAGR of 4.9% through 2034.
- By form, the cream segment held the leading share of 32.9% in 2022.
- East Asia is considered the leading region, with a value share of 22.7% at the end of the forecast period.
- The cosmetic CDMO market is anticipated to exhibit a CAGR of 5.8% by 2034.
Competitive Landscape in the Cosmetic CDMO Market:
Acquisitions and agreements among leading companies are the key strategies of renowned manufacturers in the market, such as PARAGON NORDIC and Kolmar, among others. They aim to enhance their presence in the market and compete with other players.
Following are a few examples of acquisitions made by them to be at the top position:
- In July 2021, Process Technologies & Packaging was fully acquired by Kolmar Korea Co LTD affiliate SEOKOH, Inc.
- Kolmask, a division of Kolmar Korea Holdings, purchased Jayjun Cosmetic's sheet mask production facility in Incheon in July 2019, increasing the company's ability to produce sheet masks and providing it with access to Jayjun's Chinese distribution network.
Key Companies:
1. Teleflex Incorporated
2. Swiss American CDMO
3. Pierre Fabre Group
4. Zymo Cosmetics
5. Fareva
6. Biopharma Srl C.F.
7. Chemineau
8. Cosmetic Solutions
9. PARAGON NORDIC
10. C.O.C. Farmaceutici Srl
11. Kolmar [Kolmar Korea Holding]
12. Lonza (Global)
13. Cho Chuang Industrial Co., Ltd. [Mailkang Cosmetics Co., Ltd.]
14. Vive Cosmetics
15. Ori BioNature Sdn Bhd
16. Zoic Cosmetic
17. Samriddhi Life Sciences
18. Natrocare
Key Segments:
By Service:
- Contract Development
- Formulation Development
- Pilot Studies
- Contract Manufacturing
- Bulk Preparation and Scale Up
- Safety Testing
- Filling and Packaging
- Close Jars
- Bottles
- Tubes
- Roll-ons
- Others
By Product Type:
- Hair Products
- Skin Products
- Lip Products
- Eye Products
- Body Hygiene
- Oral Hygiene
- Others
By Form:
- Solid Form and Powder
- Lotions
- Creams
- Others
By Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- Middle East and Africa
