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May 06, 2023

Personal care contract manufacturing market to grow by USD 8.1 billion between 2022 and 2027; Growth driven by increasing awareness among consumers about personal hygiene

NEW YORK, March 21, 2023 /PRNewswire/ -- The global personal care contract

NEW YORK, March 21, 2023 /PRNewswire/ -- The global personal care contract manufacturing market size is estimated to grow by USD 8.1 billion from 2022 to 2027, according to Technavio. The market is estimated to grow at a CAGR of 7.36% during the forecast period. The growth of the market is driven by factors such as the increasing awareness among consumers about personal hygiene, rising demand for flexible and innovative packaging, and the growth and expansion of cosmetic sector. However, high investment expenditures and poor returns will challenge the growth of the market. For more insights on the historic data (2017 to 2021) and forecast market size (2023 to 2027) - Request a sample report

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Global competitiveness and key competitor positions

Market presence across multiple geographical footprints - Strong/Active/Niche/Trivial - buy the report!

Global Personal Care Contract Manufacturing Market - Segmentation AssessmentSegment OverviewTechnavio has segmented the market based on product type (skin care, hair care, make-up and cosmetics, and others), service (manufacturing, packaging, and custom formulation), and geography (APAC, North America, Europe, Middle East and Africa, and South America).

The market will witness significant growth in the skin care segment during the forecast period. The rising incidence of dermal conditions is one of the key factors driving the growth of the segment. Also, the increasing penetration of multifunctional solutions, such as moisturizers, face creams, body wash, and oils is driving the growth of the segment.

Geography OverviewBy geography, the global personal care contract manufacturing market is segmented into APAC, North America, Europe, Middle East and Africa, and South America. The report provides actionable insights and estimates the contribution of all regions to the growth of the global personal care contract manufacturing market.

APAC will account for 37% of the market growth during the forecast period. The expansion of the millennial population in countries such as China, India, and Vietnam is driving the growth of the regional market. The increased awareness of cosmetics products such as face make-up, hairstyling, and coloring products is another major factor driving the growth of the personal care contract manufacturing market in APAC.

Insights on the market contribution of various segments including country and region wise, historic data (2017 to 2021), and forecast market size (2023 to 2027) - Download a Sample Report

Global Personal Care Contract Manufacturing Market – Vendor Analysis

The global personal care contract manufacturing market is fragmented due to the presence of a large number of contract manufacturers. Prominent vendors are centered on the adoption of various strategic initiatives, such as mergers, acquisitions, partnership agreements, and others, for the consolidation of their industry position. They are continually seeking to expand their local manufacturing facilities and market presence. Some of the key vendors covered in this report include:

Albea Services SAS - The company offers a wide range of cosmetic packing accessories through contract manufacturing business process.

Kolmar Korea - The company offers a wide range of beauty care products such as liquid foundations, creams, lotions, and skin care through contract manufacturing process.

FAREVA SA - The company offers personal care contract manufacturing for cosmetic products through subcontracting orders to various OEM players.

Formula Corp. - The company offers a contract packaging business through purchasing team which works together with a number of local manufacturers to develop vast packaging options for household, skin care, and personal care products.

Global Personal Care Contract Manufacturing Market – Market Dynamics

Key factor driving market growth

The market is driven by the increasing awareness among consumers about personal hygiene.

Consumers have more conscious about personal hygiene since the outbreak of COVID-19.

Government bodies across the world are introducing various programs to educate people on the significance of using personal hygiene products.

These factors have increased the sales of personal products and positively affected the growth of the global personal care contract manufacturing market.

Leading trends influencing the market

Influence through social media and blogging is identified as the key trend in the market.

The importance of social media marketing is gaining prominence with increasing number of active social media users.

Social media platforms such as Instagram, Facebook, and YouTube are providing opportunities for brands to showcase and promote their products.

The use of social media marketing has increased the awareness of products among consumers and consequently boosted the sales of market players.

This trend will have a positive influence on the growth of the market in focus over the forecast period.

Major challenges hindering the market growth

High investment expenditures and poor returns will hinder the growth of the market.

The use of quality items increases the overall manufacturing costs of vendors.

The intense competition from other players coupled with the entry of easy access to counterfeits have further challenged the growth of vendors.

The high investment associated with manufacturing increases the risk level for vendors.

All these factors are significant impediments to the growth of the global personal care contract manufacturing market.

Insights on market drivers, trends, & Challenges, historic period (2017 to 2021), and forecast period (2023 to 2027) - Request a sample report!

What are the key data covered in this personal care contract manufacturing market report?

CAGR of the market during the forecast period

Detailed information on factors that will drive the growth of the personal care contract manufacturing market between 2023 and 2027

Precise estimation of the size of the personal care contract manufacturing market and its contribution to the parent market

Accurate predictions about upcoming trends and changes in consumer behavior

Growth of the personal care contract manufacturing market industry across APAC, North America, Europe, Middle East and Africa, and South America

A thorough analysis of the market's competitive landscape and detailed information about vendors

Comprehensive analysis of factors that will challenge the growth of personal care contract manufacturing market vendors

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Personal Care Contract Manufacturing Market Scope

Report Coverage

Details

Base year

2022

Historic period

2017-2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 7.36%

Market growth 2023-2027

USD 8.1 billion

Market structure

Fragmented

YoY growth 2022-2023 (%)

6.21

Regional analysis

APAC, North America, Europe, Middle East and Africa, and South America

Performing market contribution

APAC at 37%

Key countries

US, Canada, China, India, and Germany, Canada, Mexico, Italy,Spain, India, Japan, Australia, and South Korea

Competitive landscape

Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks

Key companies profiled

AIG Technologies, Albea Services SAS, ANJAC Health and Beauty, Beautech, Cosmetic Group USA Inc., CoValence laboratories, FAREVA SA, Formula Corp., KIK Custom Products Inc., KDC One, Kolmar Korea, McBride Plc, Nutrix International LLC, RCP Ranstadt GmbH, Sarvotham Care Ltd., Tropical Products, UNIVERSAL PACKAGING SYSTEMS Inc., Vi Jon LLC, VVF Group, and World Wide Packaging LLC

Market dynamics

Parent market analysis, market growth inducers and obstacles, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for the forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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Table of contents:

1 Executive Summary

1.1 Market overview

2 Market Landscape

2.1 Market ecosystem

3 Market Sizing

3.1 Market definition

3.2 Market segment analysis

3.3 Market size 2022

3.4 Market outlook: Forecast for 2022-2027

4 Historic Market Size

4.1 Global personal care contract manufacturing market 2017 - 2021

4.2 Product type Segment Analysis 2017 - 2021

4.3 Service Segment Analysis 2017 - 2021

4.4 Geography Segment Analysis 2017 - 2021

4.5 Country Segment Analysis 2017 - 2021

5 Five Forces Analysis

5.1 Five forces summary

5.2 Bargaining power of buyers

5.3 Bargaining power of suppliers

5.4 Threat of new entrants

5.5 Threat of substitutes

5.6 Threat of rivalry

5.7 Market condition

6 Market Segmentation by Product Type

6.1 Market segments

6.2 Comparison by Product Type

6.3 Skin care - Market size and forecast 2022-2027

6.4 Hair care - Market size and forecast 2022-2027

6.5 Make-up and cosmetics - Market size and forecast 2022-2027

6.6 Others - Market size and forecast 2022-2027

6.7 Market opportunity by Product Type

7 Market Segmentation by Service

7.1 Market segments

7.2 Comparison by Service

7.3 Manufacturing - Market size and forecast 2022-2027

7.4 Packaging - Market size and forecast 2022-2027

7.5 Custom formulation - Market size and forecast 2022-2027

7.6 Market opportunity by Service

8 Customer Landscape

8.1 Customer landscape overview

9 Geographic Landscape

9.1 Geographic segmentation

9.2 Geographic comparison

9.3 APAC - Market size and forecast 2022-2027

9.4 North America - Market size and forecast 2022-2027

9.5 Europe - Market size and forecast 2022-2027

9.6 Middle East and Africa - Market size and forecast 2022-2027

9.7 South America - Market size and forecast 2022-2027

9.8 US - Market size and forecast 2022-2027

9.9 China - Market size and forecast 2022-2027

9.10 India - Market size and forecast 2022-2027

9.11 Germany - Market size and forecast 2022-2027

9.12 Canada - Market size and forecast 2022-2027

9.13 Market opportunity by geography

10 Drivers, Challenges, and Trends

10.1 Market drivers

10.2 Market challenges

10.3 Impact of drivers and challenges

10.4 Market trends

11 Vendor Landscape

11.1 Overview

11.2 Vendor landscape

11.3 Landscape disruption

11.4 Industry risks

12 Vendor Analysis

12.1 Vendors covered

12.2 Market positioning of vendors

12.3 Albea Services SAS

12.4 Cosmetic Group USA Inc.

12.5 FAREVA SA

12.6 Formula Corp.

12.7 KDC One

12.8 KIK Custom Products Inc.

12.9 Kolmar Korea

12.10 McBride Plc

12.11 Nutrix International LLC

12.12 Sarvotham Care Ltd.

12.13 Tropical Products

12.14 UNIVERSAL PACKAGING SYSTEMS Inc.

12.15 Vi Jon LLC

12.16 VVF Group

12.17 World Wide Packaging LLC

13 Appendix

13.1 Scope of the report

13.2 Inclusions and exclusions checklist

13.3 Currency conversion rates for US$

13.4 Research methodology

13.5 List of abbreviations

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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