Personal Care Contract Manufacturing Market to Reach USD 33.62 Billion in 2029; Royal DSM Partners with Albéa to Expand Product Reach

The global personal care contract manufacturing market size stood at USD 18.19 billion in 2021. The market value is slated to rise from USD 19.60 billion in 2022 to USD 33.62 billion by 2029 at a CAGR of 8.0% during 2022-2029. The surge can be attributed to the escalating consumer awareness toward personal hygiene and the increasing usage of natural products. Besides, contract manufacturing helps personal care & cosmetic companies in the elimination of drawbacks such as expensive operation of manufacturing facilities and in-house production.

This information is cited by Fortune Business Insights™ in its research report, titled “Personal Care Contract Manufacturing Market Size, Share & COVID-19 Impact Analysis, By Formulation (Liquids, Creams, Lotions, Oils, Gels, and Others), By Application (Skincare, Haircare, Make-up & Color Cosmetics, Fragrances & Deodorants, and Others), and Regional Forecast, 2022-2029”.

Product Demand Affected Due to Remote Work Options During the COVID-19 Pandemic

The pandemic period significantly affected the consumption of moisturizing lotions and sunscreen creams on account of remote work options. Further, numerous governments enforced lockdown restrictions and obligated the wearing of masks, resulting in a decreased demand for lip care products. This has hampered the demand for personal care contract manufacturing. However, the need for hygiene-centered personal care items has considerably increased, leading to the moderation of COVID-19 impact on the industry.  

Albéa Group Enters into Partnership with GlaxoSmithKline Consumer Healthcare to Strengthen Industry Position

In May 2021, Albéa Group inked a partnership with GlaxoSmithKline Consumer Healthcare. The deal was aimed at rolling out completely recyclable toothpaste tubes by deploying its proprietary Greenleaf 2 laminate tube technology across Aquafresh, Parodontax, and Sensodyne, GSKCH’s global oral health brands.

GSKCH has committed that 100% of its product packaging would be reusable or recyclable, where safety and quality permits, until 2025. Its sustainability initiatives are in support of GSK’s commitment toward the achievement of a positive impact on nature and net zero impact on climate by 2030.

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Industry Value to Rise Driven by Growing Enforcement of Government Bodies

The government bodies in several countries are focusing on the launch of numerous schemes and initiatives for promoting the significance of personal hygiene products. The initiatives are particularly being launched among socially and economically backward regions. Additional factors driving the personal care contract manufacturing market growth comprise rising efforts toward the generation of awareness via innovative advertising campaigns.

However, the easy availability of low-quality and cheap substitutes is likely to hinder industry growth to some extent. The product demand could be further lowered due to allergies caused by certain constituents or chemicals. Some of the additional aspects hindering the industry growth include the easy availability of counterfeits and high investment in marketing charges and manufacturing.

Market Contenders Strike Partnership Deals to Expand their Footprint

Leading personal care contract manufacturing companies are focused on the launch of various strategies such as acquisitions, mergers, and collaborative agreements for strengthening their industry presence. Several market players are forging partnership agreements and participating in trade conferences for enhancing business prospects. Additional steps taken by industry participants include the formation of alliances and growing interest in research activities.

List of Key Industry Players

• HK Kolmar USA (U.S.)
• ApolloCorp, Inc. (Canada)
• Albea Group (France)
• Vi-Jon (U.S.)
• FormulaCorp. (U.S.)
• Tropical Products (U.S.)
• Nutrix International LLC (U.S.)
• VVF (India)
• Sarvotham Care (India)

Notable Industry Development

• November 2021 - Royal DSM partnered with Albéa to furnish its sun care formulation prototypes with sustainable packaging. The deal was centered at achieving its vision of delivering all-round sustainable sun care to consumers.

Further Report Findings

• Based on formulation, the market can be fragmented into lotions, liquids, creams, oils, gels, and others. The liquids segment is anticipated to dominate the market over the forecast period. The surge can be attributed to the ease of using liquid formulations.  
• The Asia Pacific personal care contract manufacturing market share is poised to record commendable expansion over the estimated period. The region is set to lead the industry owing to a surge in product demand and increasing disposable income.  
• The market value in Europe is touted to depict notable growth through the ensuing years. The rise can be credited to the escalating usage of online cosmetics shopping via numerous portals.

Table of Segmentation