Personal Care Contract Manufacturing Market Worth $37.11 Billion By 2030

 Personal Care Contract Manufacturing Industry Overview

The global personal care contract manufacturing market size is anticipated to reach USD 37.11 billion by 2030, exhibiting a CAGR of 8.1% during the forecast period, according to a new report by Grand View Research, Inc. Rising demand for manufacturing capabilities from OEMs, coupled with increasing requirement of personal care products, is anticipated to drive the industry growth.

 

Growing demand for organic and natural personal care products on account of increased awareness of the harmful effects of chemical products is likely to boost growth in the sector over time. Furthermore, the COVID-19 pandemic has resulted in increased demand for personal hygiene products, which, in turn, positively impacts the industry growth.

The rapid growth of the personal care industry especially in China, India, and Brazil is projected to propel the growth of the contract manufacturing market. The need for companies to cater to this rising demand for fast-moving personal care products such as shampoos, soaps, and creams has enhanced their production capabilities, which is projected to drive the contract manufacturing market.


Personal Care Contract Manufacturing Market Segmentation

Grand View Research has segmented the global personal care contract manufacturing market on the basis of service, and region:

Based on the Service Insights, the market is segmented into Manufacturing, Custom Formulation, and Packaging.

  • Rising demand for organic and natural personal care products is expected to compel the formulators for R&D and custom formulation of products. This, in turn, is likely to have a positive impact on the industry during the forecast period.
  • The manufacturing service segment led the industry growth and accounted for 87.2% of global revenue share in 2021, owing to the increasing demand for the products in developed as well as developing nations.
  • The skincare segment in manufacturing service is expected to grow at a CAGR of 8.9% during the forecast period. Rising demand for skincare products, particularly from the millennials to delay the signs of aging is expected to propel the demand.
  • The rising demand for flexible and innovative packaging in the personal care industry is expected to have a positive impact on the market. The packaging of personal care products adds aesthetic value to the product, which is one of the primary reasons for the purchasing decision of the consumers.

 

Personal Care Contract Manufacturing Regional Outlook

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa (MEA)

 

Key Companies Profile & Market Share Insights

The companies in the personal care contract manufacturing market are highly competitive and compete on the basis of prices and regional expansion. The companies provide high-performance products with customized solutions in terms of services.

The players give a competitive edge to their competitors based on various factors like product prices, product performance, product formulation, raw materials used for the product manufacturing, packaging, reputation, and availability. The companies employ various strategies to stay on top of the market such as new product launches, R&D investments, distribution network expansion, and mergers & acquisitions. Some prominent players in the global personal care contract manufacturing market include:

  • Cosmetic Group USA, Inc.
  • McBride
  • Knowlton Development Corporation
  • HCT Group
  • KIK custom products
  • PakLab
  • Fareva
  • Albea
  • SeaCliff Beauty Packaging &Laboratories
  • WWP Beauty

 

Order a free sample PDF of the Personal Care Contract Manufacturing Market Intelligence Study, published by Grand View Research.

 

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

 

Contact:

Sherry James

Corporate Sales Specialist, USA

Grand View Research, Inc.

Phone: 1-415-349-0058

Toll Free: 1-888-202-9519

Email: sales@grandviewresearch.com

 

Browse More Report@ https://www.grandviewresearch.com/research-insights/metaverse-market-snapshot

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