Skincare giant Cosmax adds pet care line

South Korea’s beauty products manufacturer Cosmax Inc. has entered the rapidly growing pet products market.

The company specializes in receiving orders from and manufacturing products for different makeup and skincare brands. It will utilize the experience of being South Korea’s biggest original design manufacturer (ODM) for the new venture. 

The industry leader's new venture was launched with a line of body and oral care for pets and it will expand the offerings to include specialized pet food and supplements down the road. 

Cosmax recently released a line of shampoos, conditioners, toothpaste, ear cleaners, and body mists for pets. There are currently a dozen such products in the offering.

The company is aiming for a premium pet care line, which was three years in the making. 

In terms of oral care, it added phytoncides and a microbiome to the toothpaste for cavity prevention. From the R&D stage, the company was mindful of how animals are sensitive to smell and how fur is prone to collecting body waste.

Cosmax is already offering the new products to some 10 companies in and outside of Korea. 

All of the pet products are vegan and cruelty-free. They have also been certified to have the lowest level of toxicity by the US Environmental Working Group (EWG).

The company formed a database of ingredients and materials suitable for pet products and received permission from the South Korean government to produce medical-grade products for pets. 

EXPONENTIAL GROWTH 

Cosmax turned to the pet products market because of the industry’s growth potential. 

The size of the South Korean pet products industry increased from 1.9 trillion won in 2015 to 3.4 trillion won in 2020. By 2027, it is projected to surge to 6 trillion won, according to Korea Rural Economic Institute.

The number of households with pets currently stands at just below 6.4 million. 

Cosmax is testing the waters with the pet body care products first. Depending on the market reaction, it will expand the pet products portfolio to foodstuffs.

It will work with its subsidiary Cosmax Bio Co. to create supplements and healthy snacks for pets. The lineup will expand to encompass general pet foods at a later stage.

This year marks the 30th year since Cosmax was established.

The group aims to post annual sales of 3 trillion won through aggressive expansion beyond the makeup and skincare industries, such as the pet care market. 

Cosmax president Lee Byung-man said, “We will develop a diverse range of pet products that satisfy both the carers and the pets.”

Lee stressed the company will grow into a comprehensive beauty and health corporation that encompasses both software and hardware. 

Write to Jung-Eun Kim at likesmile@hankyung.com
Jee Abbey Lee edited this article.