The global Personal Care Contract Manufacturing Market size was USD 20.33 Billion in 2022 and is expected to register a revenue CAGR of 7% over the forecast period, according to the latest report by Reports and Data.
The market for personal care contract manufacturing is experiencing significant growth, driven by the increasing demand for customized products in the personal care industry. Consumers today seek personal care items that cater to their specific preferences and needs. Contract manufacturers are meeting this demand by offering tailored solutions that align with individual customer requirements. In order to address diverse consumer needs comprehensively, these manufacturers provide a wide range of services, including product design, formulation, packaging, and labeling.
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Major Companies:
- Englewood Lab, LLC
- Formula Corp
- Arminak Associates LLC
- Cosmetics Laboratories of America
- TCI Co., Ltd.
- Cosmax Inc.
- Alkos Group
- Biolandes
- MS Swiss Cosmetics
- Procter Gamble
- Estée Lauder Companies Inc.
Some Key Highlights from the Report
In 2022, formulation services had the highest revenue share in the global personal care contract manufacturing market. Formulation services in the personal care contract manufacturing sector are focused on creating formulations for a variety of personal care products, including skin care, hair care, and oral care. The increased demand for personalised and specialty personal care products has increased the demand for formulation services. Businesses are investing in research and development to create novel and inventive formulations that meet the needs of specific consumers.
In 2022, the segment that claimed the largest share of revenue in the global personal care contract manufacturing market was skincare products. Skincare products play a pivotal role in the personal care industry, and there has been a noticeable surge in demand for personalized skincare items. Manufacturers are actively investing in research and development to craft advanced skincare products that cater to the diverse needs of consumers. Additionally, the growing awareness of skincare and the heightened focus on natural and organic products have given rise to new categories within skincare. This includes the emergence of natural and organic skincare products, reflecting the evolving preferences of consumers towards healthier and eco-friendly options.
Key questions addressed in the report:
- What is the expected market size of the global Personal Care Contract Manufacturing market during the forecast period?
- What CAGR is the global market expected to register during the forecast period?
- Which key factors are expected to boost global market growth between 2021 and 2028?
- What are the key restraints that are expected to hamper global market growth?
- Which regional market is expected to register robust CAGR during the forecast period?
- Which key players are operating the global Personal Care Contract Manufacturing market?
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Personal Care Contract Manufacturing Market Segmentation:
By Service Type Outlook:
- Product Development
- Formulation
- Packaging
- Others
By End-Use Outlook:
- Skincare
- Haircare
- Cosmetics
- Fragrances
- Others
Key Regional Markets Covered in the Report:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East Africa)
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