Global Personal Care Contract Manufacturing Market – Industry Trends and Forecast to 2030

Global Personal Care Contract Manufacturing Market, By Formulation (Liquids, Creams, Lotions, Oils, Gels, Others), Service Type (R&D and Formulation, Manufacturing, Packaging & Allied Services), Product Type (Skincare, Haircare, and Make-up and cosmetics) - Industry Trends and Forecast to 2030.

Personal Care Contract Manufacturing Market Analysis and Size

The shifting focus of significant companies towards manufacturing personal care products from R&D to in-house production and other promotional activities is projected to increase the contract manufacturing of personal care products. Moreover, consumers gravitate toward organic and natural personal care products as demand for organic ingredients grows, likely fuel the market expansion during the research period worldwide 

Data Bridge Market Research analyses that the global personal care contract manufacturing market which was USD 20.28 billion in 2022, is expected to reach USD 39.53 billion by 2030, growing at a CAGR of 8.70% during the forecast period of 2023 to 2030. The segment that often dominates the global personal care contract manufacturing market is the "Skincare" segment is said to dominate the global personal care contract manufacturing market. This is because skincare products, including creams, lotions, and serums, have experienced a surge in demand due to increasing consumer awareness about skincare routines and the pursuit of healthy and youthful-looking skin. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

Personal Care Contract Manufacturing Market Scope and Segmentation

Market Definition

Personal care contract manufacturing is a challenging, competitive, and low-margin business in personal care industr, which needs to be actively managed. The availability of large number of contract manufacturers, striving over the low-profit margin to provide the formulators at a favourable deal. This deal has driven the business into a very constricted pass for being profitable.

Global Personal Care Contract Manufacturing Market Dynamics

Drivers

• Rising Demand for Flexible and Innovative Packaging

The growing demand for innovative and flexible packaging in the personal care sector is anticipated to positively impact the global personal care contract manufacturing market. The packaging of personal care products increases the aesthetic value of the product, which is one of the major factor for the purchasing decision of the consumers.

• Growth and Expansion of Cosmetic Sector

Significant growth in the cosmetic industry worldwide is one of the major factors creating a positive outlook for the growth of the global personal care contract manufacturing market. The hectic schedules, changing lifestyles and increasing female workforce participation, there is a growing demand for premium-quality personal care and cosmetics products. The contract manufacturing services deliver ancillary activities and core manufacturing, which enable the owners to focus more on core competencies and improve their overall efficiencies.

Opportunity

• Increasing Focus on Natural and Organic Personal Care Products

Nowadays, people are inclined to use those cosmetic products that make them look good. There is substantial demand for natural and organic personal care products. Several problems are faced by people related to hair fall, oily skin, acne and wrinkles, among others. All these problems can be overcome with the use of good and natural cosmetic products and awareness regarding the use of the proper cosmetic products are projected to compel the formulators for custom formulation and R&D of products. This, in turn, is expected to positively impact the market during the forecast period 2023-2030. The companies are severely trying to innovate new products due to changing preferences of the consumers, thus investing majorly in custom formulation and research & development activities.

Restraint/ Challenge

• Issues Associated with Global Personal Care Contract Manufacturing Market

Cost effectiveness are the major challenges which are expected to hamper market growth rate. Changing consumer mind-set which has associated with higher prices than conventional products is projected to be a major challenge faced by end user industry. Other factors, for instance, shorter life and inability to recycle some materials that are not completely sustainable, are anticipated to restrain the market growth of sustainable personal packaging. Furthermore, cross-contamination in recycling facilities, lower strength and load-carrying capacity of sustainable personal product could further obstruct the market's growth rate.

This  global personal care contract manufacturing market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the global personal care contract manufacturing market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays

Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions. Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.

Expected Impact of Economic Slowdown on the Pricing and Availability of Products

When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.

Recent Developments

• In July 2021, PLZ Corporation, a North America's prominent independent specialty liquid and aerosol product manufacturer, declared the acquisition of 220 Laboratories, a prominent formulator and innovator of skin, hair and body products. PLZ can now offer its consumers with an end-to-end portfolio of services, ranging from new product formula development and ideation to bespoke production of non-aerosol and aerosol goods
• In April 2021 - Colep, a prominent market player in the contract manufacturing and consumer goods packaging industries, announced its intention to split its businesses into two new entities from the 1st of July 2021. Those entities will be named Colep Consumer and Colep Packaging Products. The RAR Group, the sole shareholder of Colep, will remain the 100% shareholder of both entities. This split will give the respective management teams the required empowerment and autonomy to meet their stakeholders' and customers' expectations and achieve their strategic ambitions

Global Personal Care Contract Manufacturing Market Scope

The global personal care contract manufacturing market is segmented on the basis of formulation, service type and product type. The growth amongst these segments will help you analyse meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Formulation

• Liquids
• Creams
• Lotions
• Oils
• Gels
• Others

Service Type

• R&D and Formulation
• Skin Care
• Hair Care
• Make-up & Color Cosmetics
• Fragrances & Deodorants
• Others
• Manufacturing
• Skin Care
• Hair Care
• Make-up & Color Cosmetics
• Fragrances & Deodorants
• Others
• Packaging
• Skin Care
• Hair Care
• Make-up & Color Cosmetics
• Fragrances & Deodorants
• Others
• Allied Services

Product Type

• Skincare
• Haircare
• Make-up and cosmetics

Global Personal Care Contract Manufacturing market regional analysis/insights

The global personal care contract manufacturing market is segmented on the basis of formulation, service type and product type as referenced above.

The countries covered in the global personal care contract manufacturing market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

Asia-Pacific dominates the global personal care contract manufacturing market in terms of revenue due to the availability of improved technology and infrastructure for custom formulation as well as research and development in this region. The personal care industry is driven by the increasing demand for products such as shaving creams and deodorants among the younger people in emerging markets such as India and China.

Europe will continue to project the highest compound annual growth rate during the forecast period of 2022-2029 due to the prevalence of several manufacturing industries in this region. Furthermore, increasing demand for personal care products, mainly in Spain, Germany, Italy, France and the UK due to consumer inclination towards grooming for positive self-esteem, is projected to drive demand of the products in this region.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Personal Care Contract Manufacturing Market Share Analysis

The global personal care contract manufacturing market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the company’s focus related to global personal care contract manufacturing market.

Some of the major players operating in the global personal care contract manufacturing market are:

• VVF (India)
• A.I.G. Technologies, Inc.(U.S.)
• Sarvotham Care (India)
• Nutrix International LLC (U.S.)
• Formula Corp. (U.S.)
• PLZ Corp (U.S.)
• Tropical Products (U.S.)
• ApolloCorp Inc. (U.S.)
• COVALENCE LABORATORIES (U.S.)
• McBride (U.K.)
• RCP Ranstadt GmbH (Germany)
• Skinlys (France)
• ALKOS GROUP (France)
• ALBEA (Australia)
• KIK Custom Products Inc. (U.S.)
• HCT Group (U.K.)
• Vi-Jon (U.S.)
• MAESA (U.S.)
• Fareva (France)
•  Dorothy Perkins (UK)
• Bruno Banani (Germany)
• CONE DENIM LLC (US)
• Canterbury Antex Knitting Mills (US)
• Coville (US)
• Loyal Textile (India)
• Reliance Industries Limited (India)
• YI CHUN TEXTILE LTD (Taiwan)
• Shahlon Group (India)
• Weiqiao Textile Company Limited (China)
• China Textiles (Shenzhen) Co.,Ltd (China)
• HuaFang Group (China)