The personal care contract manufacturing global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Personal Care Contract Manufacturing Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The personal care contract manufacturing market size has grown strongly in recent years. It will grow from $21.07 billion in 2023 to $22.86 billion in 2024 at a compound annual growth rate (CAGR) of 8.5%. The growth in the historic period can be attributed to outsourcing trends in the beauty industry, cost efficiency and economies of scale, focus on core competencies, market expansion and globalization..
The personal care contract manufacturing market size is expected to see strong growth in the next few years. It will grow to $32.58 billion in 2028 at a compound annual growth rate (CAGR) of 9.3%. The growth in the forecast period can be attributed to growing focus on clean beauty formulations, rise in demand for personalized beauty products, technological integration in manufacturing processes, expansion of online and direct-to-consumer channels, global market access and supply chain resilience.. Major trends in the forecast period include wellness-oriented formulations, regulatory compliance and transparency emphasis, innovative packaging solutions, global market expansion strategies, men’s grooming product demand..
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Scope Of Personal Care Contract Manufacturing Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Personal Care Contract Manufacturing Market Overview
Market Drivers –
The growth in the cosmetic industry is expected to propel the growth of the personal care contract manufacturing market in the coming future. Cosmetic industry deals with the production and sale of cosmetics, which are broadly defined as any kind of goods or concoctions intended to improve or complement a person’s aesthetic or physical appearance. The increase in growth boosts the cosmetic industry as contract manufacturing makes cosmetic production easier to outsource, either completely or partially. For instance, in January 2022, according to Government of UK stats, the cosmetics and healthcare market was quickly expanding, exceeding many other retail sectors and being valued at $33.1 billion by 2022. Therefore, growth in the cosmetic industry is driving the market.
Market Trends –
Product innovation is the key trend gaining popularity in the personal care contract manufacturing market. Major companies operating in the personal care contract manufacturing market are focused on developing innovative products to strengthen their position in the market. For instance, in March 2022, Colgate-Palmolive Company, a US-based company that manufactures personal care and oral hygiene products, launched Total Plaque Pro-Release toothpaste. Total Plaque Pro-Release toothpaste provides continuous, day-and-night antibacterial defense and has been clinically demonstrated to drastically reduce dangerous plaque bacteria between dental appointments. The revolutionary solution in Colgate Total Plaque Pro-Release employs Smart Foam Technology to access confined spaces and eliminate plaque bacteria at the gum line. This breakthrough recipe uses the strength of stannous fluoride, a chemical that helps decrease plaque bacteria and prevent gingivitis.
The personal care contract manufacturing market covered in this report is segmented –
1) By Product Type: Skin Care, Hair Care, Make-Up And Cosmetics, Other Product Types
2) By Service Type: Research And Development And Formulation, Manufacturing, Packaging And Allied Services
3) By Formulation: Liquids, Creams, Lotions, Oils, Gels
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Regional Insights –
Asia-Pacific was the largest region in the personal care contract manufacturing market in 2023. Europe is expected to be the fastest-growing region in the personal care contract manufacturing market report during the forecast period. The regions covered in the personal care contract manufacturing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Key Companies –
Major companies operating in the personal care contract manufacturing market report are VVF Limited, A.I.G. Technologies Inc., Sarvotham Care Limited, Nutrix International LLC, Formula Corporation, Mansfield-King LLC, Tropical Products Inc., Sensible Organics Inc., Apollo Health and Beauty Care Inc., McBride plc, Universal Packaging Systems Inc., KIK Consumer Products Inc., Fareva Group, RCP Ranstadt GmbH, Skinlys, Tokiwa Cosmetics Corporation, Wormser Corporation, Bradford Soap Works Inc., Albea SA, Colep Portugal SA, PLZ Aeroscience Corporation, Voyant Beauty Holdings LLC, Air Liquide SA, BP plc, Chevron Corporation, China National Petroleum Corporation, China Petroleum & Chemical Corporation, ConocoPhillips Company, Eni S.p.A., Exxon Mobil Corporation .
Table of Contents
1. Executive Summary
2. Personal Care Contract Manufacturing Market Report Structure
3. Personal Care Contract Manufacturing Market Trends And Strategies
4. Personal Care Contract Manufacturing Market – Macro Economic Scenario
5. Personal Care Contract Manufacturing Market Size And Growth
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27. Personal Care Contract Manufacturing Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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