Personal Care Contract Manufacturing Market Analysis 2024 – Estimated Market Size And Key Drivers

The Personal Care Contract Manufacturing by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Personal Care Contract Manufacturing , 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.

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.

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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

Top Major Players:

• P. Moller – Maersk A/S
• H. Robinson Worldwide Inc.
• CMA CGM Group
• Deutsche Post DHL Group
• DSV Panalpina A/S

North America was the largest region in the perishable goods sea transportation market in 2023.

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 report table of contents includes:
1. Executive Summary
2. Personal Care Contract Manufacturing Market Characteristics
3. Global Personal Care Contract Manufacturing Market Trends And Strategies
4. Personal Care Contract Manufacturing Market – Macro Economic Scenario
5. Global Personal Care Contract Manufacturing Market Size and Growth
…….
26. Global Personal Care Contract Manufacturing Market Competitive Benchmarking
27. Global Personal Care Contract Manufacturing Market Competitive Dashboard
28. Key Mergers and Acquisitions Personal Care Contract Manufacturing Market
29. Personal Care Contract Manufacturing Market Future Outlook and Potential Analysis
30. Appendix

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