What Has Been the Growth of the Personal Care Contract Manufacturing Market So Far?
The personal care contract manufacturing market has seen considerable growth due to a variety of factors.
• The market size for personal care contract manufacturing has seen a sturdy growth in the past few years. The market, which is predicted to escalate from $22.86 billion in 2024 to $24.91 billion in 2025, boasts a compound annual growth rate (CAGR) of 8.9%. The growth in the previous period is credited to the outsourcing patterns in the cosmetic industry, cost effectiveness and large-scale economies, focusing on key strengths, as well as market growth and globalization.
What Are the Future Growth Projections for the Personal Care Contract Manufacturing Market?
The Personal Care Contract Manufacturing market is expected to maintain its strong growth trajectory in upcoming years.
• Expectations are high for significant expansion in the personal care contract manufacturing market over the coming years. The market is projected to enlarge to $35.9 billion in 2029, with a compound annual growth rate (CAGR) of 9.6%.
The predicted growth during this period can be credited to an increased attention towards clean beauty formulations, a surge in demand for custom beauty products, technological advancements in manufacturing operations, the growth of online and direct-to-consumer channels, global market availability and resilient supply chains. Noteworthy trends projected for this period comprise wellness-focused formulations, emphasis on regulatory compliance and transparency, innovative packaging approaches, strategies for global market expansion, and demand for men's grooming products.
What Are The Core Factors Supporting Growth In The Personal Care Contract Manufacturing Market?
The anticipated expansion of the cosmetic industry is predicted to fuel the growth of the personal care contract manufacturing market in the foreseeable future. The cosmetic industry revolves around the production and sales of cosmetics, which can broadly be described as any products or mixtures designed to enhance or accentuate a person's aesthetic or physical appearance. The surge in growth gives a boost to the cosmetic industry since contract manufacturing simplifies the outsourcing process of cosmetic production, be it wholly or partially. For example, as of January 2022, government stats from the UK indicated that the cosmetics and healthcare market was rapidly growing, outpacing several other retail sectors and projected to be worth $33.1 billion by 2022. As such, the growth of the cosmetic industry is a key driver for the market.
What Are The Major Segments Within The Global Personal Care Contract Manufacturing Market?
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
Subsegments:
1) By Skin Care: Moisturizers, Cleansers, Sunscreens, Anti-Aging Products
2) By Hair Care: Shampoos, Conditioners, Hair Treatments, Styling Products
3) By Make-Up And Cosmetics: Foundations, Lip Products, Eye Makeup, Blush And Highlighters
4) By Other Product Types: Fragrances, Oral Care Products, Bath And Body Products
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Which Trends Are Expected To Transform The Personal Care Contract Manufacturing Market?
The booming trend in the personal care contract manufacturing market is product innovation. The predominant companies in this market are concentrating on creating groundbreaking products to fortify their market stance. For instance, Colgate-Palmolive Company, a renowned personal care and oral hygiene product manufacturing firm from the US, introduced the Total Plaque Pro-Release toothpaste in March 2022. The said toothpaste assures round-the-clock antibacterial protection and is clinically proven to significantly lower pernicious plaque bacteria in between dentist's visits. The innovative formula in Total Plaque Pro-Release capitalizes on Smart Foam Technology to reach restricted areas and eradicate plaque bacteria at the gum line. This cutting-edge formula utilizes the power of stannous fluoride, a substance effective in minimizing plaque bacteria and thwarting gingivitis.
Who Are the Key Players In The Personal Care Contract Manufacturing Market?
Major companies operating in the personal care contract manufacturing market include:
• 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
• KIK Consumer Products Inc.
• Fareva Group
• Skinlys
• Tokiwa Cosmetics Corporation
• Wormser Corporation
• Bradford Soap Works Inc.
• Albea SA
• Colep Portugal SA
• PLZ Aeroscience Corporation
• Voyant Beauty Holdings LLC
What Is The Most Dominant Region In The Personal Care Contract Manufacturing Market?
Asia-Pacific was the largest region in the personal care contract manufacturing market in 2024. 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
