Personal Care Contract Manufacturing Market Worth $37.11 Billion By 2030

The global personal care contract manufacturing market is expected to be worth USD 37.11 billion by 2030, advancing at a CAGR of 8.1% from 2022 to 2030. The continued growth in sales of cosmetics and personal care products such as creams, lotions, deodorants, soaps, and shampoos is expected to play a major role in driving the industry's advancement. Contract manufacturing involves the employment of another company to manufacture products made by a different company, thus allowing the company to begin sales without the need to raise money for maintaining a factory. There has been a tangible improvement in the quality of life of people globally, which has translated to wide demand for personal care products, which is driving the market growth.

There has been significant growth in the popularity and demand for organic personal care products, particularly from the millennial and working professional demographics. As a result, manufacturers have become fixated on expanding product portfolios with the addition of organic products, which is one of the factors boosting industry demand. The personal care industry has witnessed strong growth in economies such as Brazil, China, and India, which are developing at a rapid pace. With the growth in the working population in these countries, the demand for soaps, shampoos, and deodorants & fragrances has increased steadily. Additionally, growing incidences of dental disorders among the population due to unhealthy diet patterns are expected to enable the advancement of the oral care space, which is another factor anticipated to enable the market to progress.

The COVID-19 pandemic led to significant disruptions in the supply chain of the cosmetics and personal care industry, with many countries closing their borders and restricting trading routes. This resulted in a significant shortage in the availability of raw materials during the early phase of the outbreak, thus stunting sales growth. However, in subsequent months, economies started returning to normalcy, which helped in positive movements in the industry. Furthermore, the substantial growth of the online channel of sales of personal care products helped in the further stabilization of the market. The use of social media channels to advertise products and propagate their USPs to audiences has been a significant enabler of industry advancement during the past few years. 

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Personal Care Contract Manufacturing Market Report Highlights

• With regards to the manufacturing service, the skincare segment is poised to advance at a substantial CAGR of 8.9% through 2030, aided by the rising demand for premium products globally, along with consumers’ growing preference for spray-on antiperspirants

• Although packaging constitutes a relatively minor part of the overall revenue, it is expected to become significant in the coming years, as the demand for flexible and innovative packaging becomes noticeable in the personal care sector. Additional investments in the R&D of packaging designs are being made by companies in this regard

• The Middle East is expected to become a potential fast grower in the industry during the forecast period. Population growth and urbanization in a number of regional economies have led to the framing of supportive policies by governments in order to drive industrial growth, which includes the personal care sector

• Major competitors in the personal care contract manufacturing space have understood the importance of the regional markets of the Asia Pacific and North America in generating revenue, and are accordingly planning their expansion strategies, besides partnerships and mergers & acquisitions

• In October 2021, Knowlton Development Corporation (kdc/one) announced the imminent acquisition of V Manufacturing & Logistics (VML), a California-based company specializing in the manufacturing of small-batch beauty and personal care products 

Personal Care Contract Manufacturing Market Report Segments

Personal Care Contract Manufacturing Service Outlook (Revenue, USD Million, 2017 - 2030)
    • Manufacturing
        • Skin Care
        • Hair Care
        • Make-up & Color Cosmetics
        • Fragrances & Deodorants
        • Others
    • Custom Formulation
        • Skin Care
        • Hair Care
        • Make-up & Color Cosmetics
        • Fragrances & Deodorants
        • Others
    • Packaging
        • Skin Care
        • Hair Care
        • Make-up & Color Cosmetics
        • Fragrances & Deodorants
        • Others

Personal Care Contract Manufacturing Regional Outlook (Revenue, USD Million, 2017 - 2030)
    • North America
        • U.S.
        • Canada
        • Mexico
    • Europe
        • Germany
        • France
        • Italy
        • Spain
        • U.K.
    • Asia Pacific
        • China
        • India
        • Japan
        • South Korea
        • Australia
    • Central & South America
        • Argentina
        • Brazil
    • Middle East & Africa
        • Saudi Arabia
        • UAE

List of Key Players in the Personal Care Contract Manufacturing Market
    • Cosmetic Group USA, Inc.
    • McBride
    • Knowlton Development Corporation
    • HCT Group
    • KIK custom products
    • PakLab
    • Fareva
    • Albea
    • SeaCliff Beauty Packaging &Laboratories
    • WWP Beauty