Personal Care Contract Manufacturing Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Personal Care Contract Manufacturing Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Growth Factors of Personal Care Contract Manufacturing Market

The personal care contract manufacturing market size was valued at USD 18.19 billion in 2020, and the market is now projected to grow from USD 19.60 billion in 2021, to USD 33.62 billion in 2028 exhibiting a CAGR of 8.0% during the forecast period of 2024-2032.

The personal care contract manufacturing market was severely affected by the COVID-19 pandemic due to disruptions of the supply chain and varying demand and supply forces such as labor shortages. Due to lockdowns and imposed restrictions in travelling, the production process was slowed down significantly, and deliveries of raw material were also delayed. In the early months of the pandemic, consumers tended to buy fewer beauty care products such as skincare, cosmetics, and fragrances but they wanted more sanitizers, disinfectants and hygiene care products and so manufacturers changed the directions of their production lines. This shift changed the priorities of markets, increasing the pace of development in sectors that provide goods for personal hygiene and stimulating focus on supply chain adaptability in case of subsequent disruptions.

The industry of personal care contract manufacturing is gradually changing with the trends toward the sustainable market, product’s personalization, and product innovation. The different brands require environmentally friendly solutions forcing manufacturers to employ biodegradable packaging and reusable raw materials. Another trend is propelled by the desires for customization where manufacturers are developing products to suit the consumer’s market need. Further, technologies such as artificial intelligence used in the development of products enable quick formulation of better products. The concept of “clean beauty” is emerging, consumers searching for products that do not contain any toxic substances and are willing to influence manufacturing strategies toward greater clarity and safety. Thus, all the above mentioned factors are contributing towards the personal care contract manufacturing market growth.

The following factors explain the compounded growth in personal care contract manufacturing market: Growing market expectations for better, more unique and specialized products in the personal care segment are pressuring brands to seek out specialty suppliers. Another factor that also promotes this trend is the choices of the natural and sustainable ingredients for meals starting from production of ingredients to preparing food. Also, market expansion stems from the increasing sales of private label brands that rely on contract manufacturers for production effectiveness and capacity. Additions in the solutions of technology and product specification equally expand the appeal of the services as a number of brands look for service provisions that would ensure their own unique demands for customer needs are met.

Comprehensive Analysis Personal Care Contract Manufacturing Market

The personal care contract manufacturing market is discussed in terms of formulations, application, and regions. From a formulation perspective, it comprises of liquids, creams, lotions, oils gels and others. Using these two it increases the benefits for product types such as some moisturizers or treatments. Based on the application, the market is segmented into skincare, hair care, make-up & color cosmetics, fragrances & deodorants and others. Skin care products top the list in terms of product demand as there is increased and shifted consumer awareness on their health. Regionally, it extends to North America, Europe, Asia and Pacific, and other regions where consumers’ taste and economy’s growth differ.

Asia-Pacific holds the largest market share in the personal care contract manufacturing market because of its vast consumer population and increasing need for personal care products. Emerging economies, such as China, India and Japan are showing excellent growth prospects due to factors such as higher per capita income, enhancing personal care consciousness, and increasing tendency towards body and facial care products. The superior geographical location which is accompanied by well-developed manufacturing facilities, lower costs, and access to the material also assists in cementing its position. On the same aspect, factors that include advancement in e-commerce and the ever-evolving beauty trends also explain Asia-Pacific’s ongoing market dominance.

Key players in this sector include McBride Malaysia Sdn. Bhd. (Malaysia), Albéa Group (France), FormulaCorp. (U.S.), HK Kolmar USA (U.S.), Vi-Jon (U.S.), VVF (India), Tropical Products (U.S.), Sarvotham Care (India), Nutrix International LLC (U.S.), ApolloCorp, Inc. (Canada)

There are new trends in the growth of the usage of the contract manufacturing market for personal care in 2024 focusing on the continual growth of the skincare segment where the usage of probiotics in the products is becoming trendier. All these formulations have the goal of improving the skin’s health by re-establishing the skin flora and the problems such as acne, skin sensitivity and dryness. Consumers’ demand for therapeutic and preventive solutions is also shifting gradually and rapidly toward product-market solutions. There are new trends in care products, in particular multipurpose, which include protection from the sun, moisturizing, and anti-aging effects. This tendency is connected with the overall tendency, which regards clean beauty as efficient, safe, and environmentally friendly skin care products, which declare all the components used.

Segmentation Table

ATTRIBUTE DETAILS

Study Period2018-2029

Base Year2021

Estimated Year2022

Forecast Period2022-2029

Historical Period2018-2020

UnitValue (USD Billion)

SegmentationBy Formulation, Application, and Geography

By FormulationLiquids

Creams

Lotions

Oils

Gels

Others

By ApplicationSkincare

Haircare

Make-up & Color Cosmetics

Fragrances & Deodorants

Others

By GeographyNorth America (By Formulation, By Application, By Country)

U.S.

Canada

Europe (By Formulation, By Application, By Country)

Germany

France

U.K.

Italy

Spain

Russia

Rest of Europe

Asia Pacific (By Formulation, By Application, By Country)

China

India

Japan

South Korea

Taiwan

Southeast Asia

Rest of Asia Pacific

Latin America (By Formulation, By Application, By Country)

Brazil

Mexico

Rest of Latin America

Middle East & Africa (By Formulation, By Application, By Country)

GCC

South Africa

Rest of Middle East & Africa

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