The global personal care contract manufacturing market size was USD 18.19 billion in 2021 and USD 19.60 billion in 2022. It is anticipated to reach USD 33.62 billion in 2029, exhibiting a CAGR of 8.0% over the estimated period. The rise can be credited to the surging consumer spending capacities and increasing awareness regarding personal hygiene.
Additional factor propelling industry growth is the escalating consumption of natural products. Fortune Business Insights™ cites this information in its research report, titled “Personal Care Contract Manufacturing Market, 2022-2029”.
Information Source - https://www.fortunebusinessinsights.com/personal-care-contract-manufacturing-market-102937
Segments:
Liquids Segment to Emerge Prominent Due to Convenience of Usage
On the basis of formulation, the market is segregated into creams, lotions, liquids, gels, oils, and others. Of these, the liquids segment is estimated to foresee a commendable surge over the estimated period. The rise can be credited to the convenience of deploying liquid formulations.
Skincare Segment to Gain Traction Owing to Rising Number of Dermal Conditions
The skincare segment accounted for a majority share in 2021 and is anticipated to register appreciable expansion over the forecast period. The growth can be attributed to the escalating penetration of multi-functional solutions such as oils, body wash, face creams, and moisturizers. This is further being supplemented by the growing number of dermal conditions.
Considering the regional landscape, the market can be subdivided into North America, Asia Pacific, Europe, the Middle East & Africa, and Latin America
Report Coverage:
The report provides a comprehensive coverage of the major trends that are set to drive industry expansion over the forecast period. It further includes an in-depth analysis of the key steps taken by prominent industry players for sustaining their market position. The insights have been provided after extensive research and engagements with major stakeholders in the industry.
Drivers and Restraints:
Rising Product Demand Driven by Growing Awareness Regarding Personal Hygiene
The personal care contract manufacturing market growth is set to be driven by escalating consumer awareness regarding sanitation and personal hygiene. The industry expansion can be credited to the soaring demand for feminine hygiene products. The maintenance of personal hygiene helps in the improvement of self-confidence, self-esteem, and psychological, emotional, and social well-being.
However, the industry expansion is likely to be hindered by growing investments in manufacturing, intense competition among manufacturers, and the easy availability of counterfeits.
Regional Insights:
Asia Pacific to Lead Due to Rising Young Demographic Population and Escalating Disposable Income
The Asia Pacific personal care contract manufacturing market share is slated to register a notable rise over the forecast period. The growth can be attributed to the surging young demographic population and the escalating disposable income. This is further being supplemented by the surging number of domestic manufacturers in the region.
The industry value in Europe is set to record appreciable growth over the analysis period. This is being driven by the rising consumer preference toward the use of personal care and cosmetic products manufactured using raw materials that are free from harmful chemicals.
Competitive Landscape:
Leading Companies Focus on Partnership Agreements & Acquisitions for Driving Industry Growth
Prominent personal care contract manufacturing companies are centered on the adoption of various strategic initiatives, such as mergers, acquisitions, partnership agreements, and others, for the consolidation of their industry position. Several market players are undertaking research activities for enabling the development of new products. Some of the additional steps include rising participation in trade conferences.
Key Industry Development:
June 2022 – Kolmar Korea planned the acquisition of 55% stake in Yonwoo, a Korean producer of packaging solutions for beauty, personal care, and skincare. The USD 221.6 million deal helped the company in creating collaboration in its cosmetic business.
List of Key Players Mentioned in the Report:
- HK Kolmar USA (U.S.)
- Albéa Group (France)
- VVF (India)
- (U.S.)
- Nutrix International LLC (U.S.)
- Vi-Jon (U.S.)
- ApolloCorp, Inc. (Canada)
- Sarvotham Care (India)
- McBride Malaysia Sdn. Bhd. (Malaysia)
The research report includes specific segments by region (country), by manufacturers, by Type and by Application.
Each type provides information about the production during the forecast period of 2016 to 2027. by Application segment also provides consumption during the forecast period of 2016 to 2027.
Understanding the segments helps in identifying the importance of different factors that aid the market growth.
Download FREE Sample of this Report @ https://www.24chemicalresearch.com/download-sample/67732/global-water-based-acrylates-copolymer-rheology-modifiers-2021-771Segment by Type:OrganicInorganicSegment by Application:Paints & CoatingsPersonal CareAdhesives & SealantsPharmaceuticalsHomecare & Industrial CleaningConstructionPulp & PaperMineralsOthersBy Company:ArkemaBASFLubrizolDowDuPontEuclid ChemicalsAkzoNobelProduction by Region:North AmericaEuropeChinaJapanConsumption by Region:North AmericaU.S.CanadaEuropeGermanyFranceU.K.ItalyRussiaAsia-PacificChinaJapanSouth KoreaIndiaAustraliaTaiwanIndonesiaThailandMalaysiaPhilippinesVietnamLatin AmericaMexicoBrazilArgentinaMiddle East & AfricaTurkeySaudi ArabiaU.A.EGet the Complete Report & TOC @ https://www.24chemicalresearch.com/reports/67732/global-water-based-acrylates-copolymer-rheology-modifiers-2021-771CONTACT US:North Main Road Koregaon Park, Pune, India - 411001.International: +1(646)-781-7170Asia: +91 9169162030Email: [email protected] Us On linkedin :- https://www.linkedin.com/company/24chemicalresearch/
6 April 2020: Global Pharmaceutical Contract Manufacturing Market Research Report includes In-depth Analysis of industry by recent technologies, trends, opportunities, challenges, key players and business strategies considering types, segment, and future analysis.
The Pharmaceutical Contract Manufacturing Market Report Provides Growth History, Sales Channel, Manufacturers Profiled in Pharmaceutical Contract Manufacturing Business, Market Share of Product, Application and Regional Scope of Pharmaceutical Contract Manufacturing which makes the research report a helpful resource for marketing people, forecasters, industry executives & consultants, sales, product managers, Strategy Advisor, potential investors to understand the present as well as future market size, situations in terms of growth rate and revenue.
The key players profiled in the Pharmaceutical Contract Manufacturing market report are Pharmaceutical Product Development LLC, Catalent, AbbVie, Patheon, Baxter Biopharma Solutions, Dalton Pharma Services, Grifols International, S.A., and Lonza AG., and Boehringer Ingelheim Biopharmaceuticals GmBh.
The factors that propel the growth of the Pharmaceutical Contract Manufacturing & Contract Research industry include decrease in the cost of production of APIs, increasing focus on cost reduction, the rising price pressure.
On the other hand, there are factors that may hamper the growth of the market including stringent rules and regulations, and steady improvement.
Pharmaceutical Contract Manufacturing & Contract Research industry may be explored by type, application, and geography.
