Global personal care contract manufacturing market is anticipated to grow at a substantial CAGR of 12.4% during the forecast period (2024-2031). The contract manufacturers develop various personal care products such as skincare products, hair care, hygiene-related, and fragrances, among others. Increasing consumer demand for more sustainable materials has significantly increased new packaging product launches which led to the market growth. Additionally, partnerships and collaborations with cosmetic brands are accelerating the market growth during the forecast period.
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Recent Advancements in the Global Personal Care Contract Manufacturing Market
- In February 2023, BASF created healthy beauty through R&D innovation and sustainable lifestyles. Themed around sustainable technology perfecting healthy beauty, BASF showcased its innovative personal care solutions at the 2023 personal care and homecare ingredients.
- In June 2022, Kolmar Korea planned to acquire a stake of 55.0% in Yonwoo, a Korean producer of packaging solutions for skincare, personal care, and beauty at a value of $ 221.6 million.
- In January 2022, Madi Solutions LLC (Madi) announced that it has entered into a partnership with KE Enterprises for the research, design, and manufacturing of biodegradable and compostable packaging fabric.
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Market Coverage
- The market number available for – 2023-2031
- Base year- 2023
- Forecast period- 2024-2031
- Segment Covered-
o By Product Type
o By Application
o By Service Type
- Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
- Competitive Landscape- A.I.G. Technologies, Inc., Albéa Services S.A.S., Cosmax Inc., McBride plc, and Voyant Beauty, among others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- Who is the leader in the market?
- How are players addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Personal Care Contract Manufacturing Market Report Segment
By Product Type
- Skincare
- Hair care
- Make-up & Cosmetics
- Others (Fragrances, and Bath and Shower Products)
By Service Type
- R&D and Formulation
- Manufacturing
- Packaging & Allied Services
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