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K-Beauty ODM Giants Dominate Global Market with Record-Breaking Earnings
Consumer Non-Durables · Household/Personal Care · yonhap_finance · 2026-08-22
Cosmax and Kolmar Korea have secured the top two spots in the global cosmetics ODM market, posting record revenues driven by strong demand for K-beauty.
What Happened
Global Market Leadership: South Korean ODM giants Cosmax and Kolmar Korea have solidified their positions as the world's top two cosmetics manufacturers. They have successfully outperformed Italy's Intercos, capturing significant market share in the global beauty industry.
Cosmax's Record Performance: Cosmax reported record-breaking quarterly revenue of 794.9 billion won in Q2, driven by growth across all regions. Notably, the company achieved its first-ever operating profit in its U.S. division, marking a significant milestone.
Kolmar Korea's Growth: Kolmar Korea also posted record-high earnings in its cosmetics division, securing its second-place position. The company's success is attributed to the surging demand for sun-care products and expanded partnerships with multinational corporations.
Competitive Edge: The success of K-ODM firms stems from their agility in responding to the rise of indie beauty brands and their superior technical capabilities in skincare and sun-care formulations. In contrast, Intercos has struggled to keep pace with these rapid market shifts.