Choosing a Korean Cosmetic Manufacturer
Cosmetics are one of the most attractive industries to invest in due to growing consumer demand. This is especially true in Korea, where consumers are eager to try new products. In fact, a recent report found that the global cosmetics market will grow to $716.3 billion by 2025 (Kwon 2020).
Moreover, consumers are seeking solutions for specific needs such as whitening, anti-aging, sun protection, and hair colorants. As a result, many K-beauty manufacturers are focusing on customization to meet their consumers’ needs. For example, the Korean cosmetics company Amore Pacific developed an app that analyzes a customer’s skin and prints a hydrogel facial mask for them in less than five minutes.
With this growing demand, it’s important to choose a korean cosmetic manufacturer that can help you make quality products quickly and efficiently. A good ODM will not only help you with research and development, manufacturing, and packaging but also provide branding, design, and marketing services. In addition, a good ODM will have a large network of partnerships with strategic customers in both Korea and overseas to pursue open innovation networks (OIN) practices.
As an example, COSMAX has a wide network of partners with more than 200 raw material component providers to develop proprietary products and enhance quality through OIN. They also share their progress, orders, and enhancements with strategic customers and strengthen cooperation management by meeting regularly. This is one of the reasons why they have a strong reputation among major brand firms (e.g. L’Oreal). korean cosmetic manufacturer