The global cosmetic CDMO market is poised for significant growth in the coming decade. According to recent projections, the market is expected to rise at a compound annual growth rate (CAGR) of 5.8% from 2024 to 2034. The market value, which stood at USD 24,027.9 million in 2024, is forecasted to reach USD 41,938.9 million by 2034.
This positive outlook follows a year of steady progress for the market, which was valued at USD 21,230.4 million in 2022. The market is anticipated to experience a year-on-year growth of 5.8% in 2024, driven by an increasing demand for innovative cosmetic products and growing outsourcing trends within the beauty and personal care industry.
Key factors contributing to this growth include the rising preference for customized and high-performance beauty solutions, the growing focus on sustainability, and the accelerating adoption of advanced technologies in formulation and manufacturing processes. As more brands seek to meet consumer demand for personalized and environmentally-conscious products, the role of CDMOs becomes increasingly vital in delivering efficient, cost-effective, and high-quality manufacturing services.
The global cosmetic CDMO market's expansion is expected to be supported by the rising presence of both established players and new entrants, creating a competitive landscape that fosters innovation and ensures continuous growth across regions. This projected growth underscores the ongoing transformation of the cosmetic industry, as CDMOs continue to play an integral part in helping brands bring their innovative products to market.
As the market evolves, the cosmetic CDMO sector is well-positioned to meet the dynamic demands of the beauty industry, offering an exciting future for both manufacturers and consumers alike.
Key Takeaways from the Cosmetic CDMO Market Study-
- By service, the contract manufacturing segment is expected to display a CAGR of 5% over the forecast period.
- By product type, the skin products segment is set to witness a lucrative CAGR of 9% through 2034.
- By form, the cream segment held the leading share of 9% in 2022.
- East Asia is considered the leading region, with a value share of 7% at the end of the forecast period.
- The cosmetic CDMO market is anticipated to exhibit a CAGR of 8% by 2034.
“Continuous innovation in skin care and cosmetics needs CDMO expertise, driving the market. Rising demand for CDMOs is driven by the requirement to follow stringent safety and cosmetic norms,” says a lead analyst of Future Market Insights (FMI).
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Competitive Landscape
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 Profiled:
Teleflex Incorporated; Swiss American CDMO; Pierre Fabre Group; Zymo Cosmetics; Fareva; Biopharma Srl C.F.; Chemineau; Cosmetic Solutions; PARAGON NORDIC; C.O.C. Farmaceutici Srl; Kolmar [Kolmar Korea Holding]; Lonza (Global); Cho Chuang Industrial Co., Ltd. [Mailkang Cosmetics Co., Ltd.]; Vive Cosmetics; Ori BioNature Sdn Bhd; Zoic Cosmetic;Samriddhi Life Sciences; Natrocare
Key Segments Covered in Cosmetic CDMO Market Report
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
