Global Personal Care Contract Manufacturing Market Overview 2023-2028
IMARC Group, a leading market research company, has recently releases report titled “Personal care contract manufacturing Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global Personal care contract manufacturing market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
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 a business arrangement wherein a brand outsources the production of skincare, haircare, cosmetics, and hygiene items, to a specialized third-party manufacturer. It encompasses designing, manufacturing, distributing, testing, and packaging skin, hair, and body care products. It reduces capital investment in production facilities and equipment and allows brands to focus on core competencies like marketing and product development. It provides several advantages to the product owners, such as quick product launches, access to high-end logistics, and cutting-edge technology. It is used in the production of makeup products like lipsticks, foundations, and eyeliners, adhering to color and texture specifications.
Global Personal Care Contract Manufacturing Market Trends and Drivers:
The growth of small and independent brands lacking extensive manufacturing infrastructure represents one of the key factors catalyzing the demand for contract manufacturing services. Additionally, the increasing consumer demand for personalized and tailored products is driving the need for specialized manufacturing capabilities. The escalating demand for natural, organic, and eco-friendly personal care products is encouraging the leading market players to seek specialized contract manufacturing. Furthermore, the widespread adoption of innovative manufacturing technologies, such as three-dimensional (3D) printing for personalized products, is creating new opportunities in contract manufacturing. Moreover, the rising need for rapid product development and launch to gain a competitive edge in the market is encouraging personal care brands to collaborate with contract manufacturers.
Global Personal Care Contract Manufacturing Market 2023-2028 Analysis and Segmentation:
Top Key Players covered in this report are: 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
The report segmented the market on the basis of region, 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
- United States
- South Korea
- United Kingdom
- Latin America
- Middle East and Africa
Key highlights of the report:
- Market Performance (2017-2022)
- Market Outlook (2023- 2028)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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