The global personal care contract manufacturing market size reached US$ 19.9 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 31.9 Billion by 2028, exhibiting a growth rate (CAGR) of 8% during 2023-2028.
Personal care contract manufacturing refers to subcontracting services offered to product owners by a contract-based manufacturer. It involves manufacturing, designing, distributing, testing and packaging of skin, hair, body and personal care products. The services of contract manufacturers are commonly utilized to supplement the manufacturing functions or replace non-essential company-run operations. The products manufactured are widely used in public spaces, resorts, hotels, spas and mass marketing locations. Contract manufacturing offers various benefits to the product owners, such as quick product launch to the market, access to high-end logistics and cutting-edge technology and a substantial reduction in the overall capital investments.
Personal Care Contract Manufacturing Market Trends:
Significant growth in the cosmetic industry across the globe is one of the key factors creating a positive outlook for the market growth. Due to changing lifestyles, hectic schedules and rising female workforce participation, there is an increasing demand for premium-quality cosmetics and personal care products. The contract manufacturing services offer various core manufacturing and ancillary activities, which enable the product owners to focus more on core competencies and enhance their overall efficiencies. Moreover, the increasing demand for herbal and natural skincare products is providing a thrust to the market growth. Consumers are increasingly becoming conscious regarding the long-term effects of using synthetic chemicals on personal hygiene. These variants are manufactured using organic ingredients, such as activated charcoal, baking soda, coconut oil, essential oils and floral extracts, and use aesthetically appealing green packaging to attract a wider consumer base. In line with this, the proliferation of social media platforms and improvements in the distribution channels are also contributing to the market growth. Other factors, including rising expenditure capacities of the masses, along with the implementation of favorable government policies, are anticipated to drive the market toward growth.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global personal care contract manufacturing market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on product types, formulation, service and applications.
Breakup by Product Types:
- Natural Products or Herbal Products
- Synthetic Products
Breakup by Formulation:
Breakup by Service:
- Custom Formulation and R & D
Breakup by Applications:
- Skin Care
- Hair Care
- Make-Up and Color Cosmetics
- Fragrances and Deodorants
Breakup by Region:
- North America
- South Korea
- United Kingdom
- Latin America
- Middle East and Africa
The competitive landscape of the industry has also been examined along with the profiles of the key players being A.I.G. Technologies Inc., ApolloCorp Inc., Beautech Industries Limited, CoValence Laboratories, Formula Corporation, McBride plc, Nutrix International LLC, PLZ Corp., Sarvotham Care Limited, Skinlys, Tropical Products Inc. and VVF Limited.
|Base Year of the Analysis
||Product Types, Formulation, Service, Applications, Region
||Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||A.I.G. Technologies Inc., ApolloCorp Inc., Beautech Industries Limited, CoValence Laboratories, Formula Corporation, McBride plc, Nutrix International LLC, PLZ Corp., Sarvotham Care Limited, Skinlys, Tropical Products Inc. and VVF Limited
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