Personal Care & Household Products Contract Manufacturing
The Personal Care & Household Products contract manufacturing (PCCM) market is growing at a rapid pace. However, the PCCM market requires a substantial amount of investment and has low-profit margins due to a large number of contract manufacturers.
Increasing awareness among consumers regarding the importance of personal hygiene is expected to drive market growth. Maintaining a high standard of hygiene helps in improving self-esteem and confidence, as well as social, emotional and psychological well-being.
Choosing the Right Contract Manufacturer
The personal care industry is expected to grow at a healthy rate shortly. Many companies in this industry choose to design and manufacture their products in-house, but others opt to use contract manufacturing services. Contract manufacturing allows for more flexibility and scalability, while still providing the same high-quality results of in-house production. In addition, it can help companies save on upfront capital expenses.
Choosing the right contract manufacturer for your personal care product is critical. Make sure to find a company that has strong quality systems, a track record of on-time delivery, and experienced service personnel. A good contract manufacturer will also offer flexible terms so that you can increase your output as your business grows.
The global personal care contract manufacturing market is divided into four categories: Skin Care, Hair Care, Make-up & Color Cosmetics, and Fragrance & Deodorants. The skincare segment is anticipated to dominate the market due to the increasing demand for skin care products, including moisturizers, face masks, body soaps, and oils. In addition, the growth of the skincare segment is driven by the rising prevalence of dermal conditions and the desire for high-end beauty products.
Besides, the growing trend of grooming to foster a sense of self-worth and social connection is boosting the market for cosmetics. The rise in the number of beauty influencers and celebrities is also supporting this market. Furthermore, the growth of economies in Latin America is driving the improvement of consumer lifestyle, thereby, fueling the demand for personal care products.
The report includes a detailed analysis of the adoption lifecycle of personal care products in different regions, with an overview of key purchase criteria and drivers. It also provides a competitive landscape and identifies growth opportunities. The market is also analyzed by formulation, service type, and geography, with the growth among each of these segments provided on a global, regional, and country basis.
Contract Manufacturing Solutions
Personal care products are a major part of the global beauty industry. Increasing awareness amongst consumers regarding personal hygiene is expected to drive market expansion throughout the forecast period. Maintaining a high level of hygiene is known to enhance one’s sense of self-worth, self-confidence, and social, emotional, and psychological well-being. Moreover, government bodies in several developing countries have launched initiatives and schemes that promote the use of personal hygiene products.
Increasing demand for cosmetics with natural ingredients and organic personal care products is expected to boost market growth. The rise in popularity of DIY colour cosmetics due to the COVID-19 lockdown has also fueled growth in the market for these products. In addition, the ageing population is driving demand for anti-ageing and haircare products.
Contract manufacturing for Personal Care & Household Products can be a great way for small companies to launch their products without the cost and hassle of setting up a factory. By outsourcing the manufacturing process, a company can focus its resources on marketing and branding. Choosing the right contract manufacturer is key to ensuring that the final product meets all the required specifications.
The global contract manufacturing for Personal Care & Household Products market is segmented by service type (R&D and Formulation, Manufacturing, and Packaging & Allied Services) and by product type (Skincare, Haircare, and Make-up and Cosmetics). This report includes an in-depth analysis of drivers, trends, challenges, and opportunities, as well as historic data from 2017 to 2021.
The Global contract manufacturing for Personal Care & Household products is expected to grow at a CAGR of 7.2% during the forecast period, reaching an estimated value of USD 78.6 billion by 2025. The market is mainly driven by the rising demand for skin and hair care products, the growing ageing population, and the increase in consumer emphasis on grooming to foster positive self-esteem. The high cost of raw materials and the emergence of alternatives such as natural products and DIY cosmetics are the main challenges for this market.
