Global Personal Care Contract Manufacturing Market Research and Forecast 2018-20

Posted by Orion Market Research on September 27th, 2018

Contract manufacturing process includes outsourcing of entire or part of the manufacturing operations to third-party companies. In personal care industry, the contract manufacturers develop various personal care products such as skin care products, hair care, hygiene-related, and fragrances, among others. Moreover, the contract manufacturers provide packaging facility of the personal care solutions, with attractive product labels. Some of the products that are included in the personal care contract manufacturing market are hand sanitizers, moisturizers, anti-ageing creams, conditioners, baby care cosmetics, toothpaste, skin lightening solutions and feminine hygiene care products, among others.

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Major factors contributing to the growth of the global personal care contract manufacturing market include increasing demand for specialty cosmetics and skin care products. This is mainly owing to increasing cases of skin cancers and hygiene-related diseases across the globe. Rising demand for organic and natural products and rising focus on personal hygiene care are fueling the market growth.  Moreover, the increasing sedentary lifestyle and adoption of faulty dietary habits has increased the adoption of personal care products such as anti-ageing solutions is significantly contributing in the market growth. However, increasing awareness of probable side effects of cosmetics and presence of highly competitive personal care industry are some of the factors hindering the growth of the market. In-house manufacturing of cosmetics by the private firms is hampering the growth of the global personal care contract manufacturing market. However, rapid development of new and gender-specific products and growing demand for innovative and flexible packaging is expected to fuel the market growth in the near future.

The personal care contract manufacturing market can be segmented on the basis of product type, applications, and service type. Based on product type, the market is segmented into natural products and synthetic products. Based on application, the market is bifurcated into hair care, skin care, make-up and color cosmetics, hygiene care, fragrances, oral care, and others (foot care). Hygiene care can be further segmented into home care and personal hygiene products. Based on service type, the market is segmented into manufacturing, custom formulation, and packaging. Among applications, the skin care segment holds a major share in the global personal care contract manufacturing market. This is owing to increasing prevalence of skin-related diseases such as skin cancer and rising demand for anti-ageing solutions.

The global personal care contract manufacturing market is further analyzed on the basis of the geographical regions that are contributing significantly towards the growth of the market. Europe holds a dominant position in the global personal care contract manufacturing market, followed by North America. This is mainly owing to rising demand for personal care products in the region, especially in France, Italy, and the U.K. The increasing inclination of consumers towards natural personal care products is expected to further drive the growth of the personal care contract manufacturing market in the region. Asia Pacific is projected to exhibit the fastest growth in the global market over the forecast period. Some of the major factors that are significantly contributing in the growth of the market in Asia Pacific are growing demand for personal care hygiene-related products among youth and rising per-capita income of the consumer base.

Some of the key players operating in the global personal care contract manufacturing market are Kolmar, VVF Ltd., A.I.G. Technologies, Inc., McBride plc, Tropical Products, Inc., Sarvotham Care Limited, Nutrix, Mansfield-King, Sensible Organics, CoValence Laboratories, and RCP Ranstadt GmbH, among others. In order to sustain in the competitive market, these players adopt various strategies such as acquisitions, mergers, expansions, joint ventures, and product development, among others. For instance, in December 12, 2017, the Knowlton Development Corp. (KDC) announced the acquisition of Northern Labs Inc., a contract manufacturer of home care and personal care products. Through acquisition, the company will increase its manufacturing facilities in the home care segment.

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