Cosmax, a leading cosmetics ODM (research, development, and production) company, is spearheading K-beauty's global expansion by actively supporting small and medium-sized Korean beauty brands in entering overseas markets. According to industry sources on May 26, the Ministry of Food and Drug Safety recently released its '2025 Cosmetics Production, Export, and Import Statistics,' showing that South Korea's cosmetics exports reached $11.4 billion last year, surpassing the United States ($10.8 billion) to claim the second spot globally. France ranked first with $24.3 billion.
Cosmax has adopted three core strategies—Speedily, Widely, and Deeply—to help small and medium K-beauty brands navigate complex global regulations through rapid product development cycles, innovative ingredients, and high-quality formulations, rather than competing solely on price. The company has fostered a virtuous cycle with these brands, achieving a record first-quarter revenue of 682 billion won ($520 million) this year. Direct exports to overseas clients surged over 30% year-on-year during the same period.
Cosmax's direct export value has steadily increased over the past three years: $183.78 million in 2023, $189.13 million in 2024, and $196.19 million in 2025. Its export structure, once heavily reliant on China, has diversified to Japan (24.7%), the United States (20.4%), and China (15.5%) last year.
Cosmax established its first overseas subsidiary, Cosmax China, in 2004, and later entered the U.S. market to help domestic brands establish a local presence. It continues to pursue tailored strategies in ASEAN countries, including Indonesia and Thailand, by obtaining Halal certification. This year, Cosmax began operating a sales office in India. In February, it acquired a 51% stake in Italian cosmetics manufacturer Keminova, securing its first production base in Europe. Additionally, to mark its 20th anniversary in China, Cosmax plans to complete a new headquarters in Shanghai's Xinzhuang Industrial Zone in the second half of this year.
Cosmax has partnered with over 5,000 domestic and international clients, more than half of which are overseas. It collaborates with global luxury brands, including the L'Oréal Group, and facilitates direct exports to 34 countries, as well as indirect exports to over 100 countries through its client network.
A Cosmax representative stated, 'South Korea has become the world's second-largest cosmetics exporter, elevating K-beauty's global status to unprecedented heights. We will leverage our cutting-edge technology and agile product development capabilities to expand K-beauty's global reach and foster a co-growth ecosystem.'
This month, Cosmax is showcasing its technology at global events such as the China Beauty Expo (CBE) in Shanghai and the NYSCC Suppliers' Day in New York.
Source: Read the original report | Published: May 26, 2026