Personal Care Contract Manufacturing (Pccm) Market Size to grow by USD 7.8 billion between 2024-2028
According to a research report “ Personal Care Contract Manufacturing (Pccm) Market” by Product Type (Skin care, Hair care, Make-up and cosmetics, Others) Service (Manufacturing, Packaging, Custom formulation) Geography (APAC, North America, Europe, Middle East and Africa, South America)- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 7.8 billion, at a CAGR of 6.75% during the forecast period. The global Personal Care Contract Manufacturing (PCCM) market is poised for significant growth due to the increasing consumer focus on personal hygiene and sanitation. This trend is particularly evident in the demand for feminine hygiene products, which contribute significantly to market expansion. The importance of maintaining high personal hygiene standards enhances self-esteem, self-confidence, and overall well-being. The COVID-19 pandemic further underscored this need, leading to a surge in personal care product sales in 2020 and a positive impact on the PCCM market. Moreover, government initiatives to promote the use of personal hygiene products, particularly in underdeveloped regions, will further fuel market growth..
Browse market data tables, figures, and in-depth TOC on “Personal Care Contract Manufacturing (Pccm) Market” by Product Type (Skin care, Hair care, Make-up and cosmetics, Others) Service (Manufacturing, Packaging, Custom formulation) Geography (APAC, North America, Europe, Middle East and Africa, South America) Global Forecast to 2028. Download Free Sample
By Product Type, the Skin care segment is projected to dominate the market size in 2024
In the personal care contract manufacturing market, skincare products held the largest market share in 2023. The increasing popularity of multifunctional skincare solutions, such as moisturizers, face creams, body washes, and oils, is driving the growth of the skincare segment. Furthermore, the rising incidence of dermal conditions and heightened consumer awareness of skin health are additional factors fueling the expansion of the skincare market. Urban consumers, with their increased disposable income and exposure to aggressive marketing, are increasingly preferring a wide range of skincare offerings. As a result, the early adoption of skincare products by consumers contributes significantly to the industry's growth.
By Service, Manufacturing segment is expected to hold the largest market size for the year 2024
The global Personal Care Contract Manufacturing (PCCM) market is primarily driven by the manufacturing segment, which is experiencing significant growth due to the expanding aging population. This demographic trend is fueling a rise in demand for personal care goods, particularly in the skincare and hair care categories, as there is an increased focus on personal grooming. Contract manufacturers in the PCCM industry are strategically positioned to capitalize on this trend, offering cost-effective solutions to personal care brands and companies through their manufacturing expertise, economies of scale, and streamlined production processes. Furthermore, the ability of contract manufacturers to provide innovative and flexible packaging solutions is anticipated to accelerate growth in the manufacturing segment, as the aesthetic value of packaging plays a crucial role in consumer purchasing decisions within the personal care industry.
APAC is forecasted to hold the largest market size by region in 2024
The Personal Care Contract Manufacturing (PCCM) market plays a pivotal role in the production of various personal care products for brands and businesses. By leveraging the expertise and capabilities of PCCM service providers, companies can focus on their core competencies while ensuring high-quality, efficient, and cost-effective manufacturing solutions. These partnerships enable brands to bring innovative and consumer-centric products to market swiftly, thereby catering to evolving consumer preferences and industry trends.
The Personal Care Contract Manufacturing (Pccm) Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:
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Research Analysis Overview
The Personal Care Contract Manufacturing (PCCM) market is witnessing significant growth due to the increasing demand for serums, lotions, body washes, conditioners, shampoos, and other liquid product forms. Companies like KIK Custom Products and G&M Cosmetics are leading the way in this industry, providing custom solutions for hair care and skincare products. With hectic lifestyles and environmental pollution on the rise, consumers are seeking high-quality, plant-based extracts and organic ingredients in their personal care items. Compliance with various standards, such as vegan beauty products and cruelty-free certifications, is also becoming a priority. Millennials, in particular, are driving the demand for specialty products, such as skincare masks, and signs of aging are leading to increased interest in anti-aging serums and lotions. Fiscal stimulus packages and vaccination drives are expected to boost the market further, as consumers turn to e-commerce platforms for convenience and safety. The PCCM market is expected to continue its growth trajectory, with a focus on sustainable and eco-friendly practices, as well as innovation in product development. Overall, the future looks bright for this dynamic and evolving industry.
Market Research Overview
The Personal Care Contract Manufacturing (PCCM) market is a significant segment of the personal care industry, specializing in the production of various personal care products for brands and businesses. This market caters to a wide range of items, including male grooming products, such as colognes, perfumes, shaving cream, toothpaste, and skincare essentials like creams, serums, lotions, body washes, conditioners, shampoos, and hair care products in a liquid product form. Male consumers and female consumers alike are increasingly seeking ergonomic packaging, rubberized packaging, and flexible packaging for their personal care items, focusing on aesthetic value and convenience. The aging population is driving demand for anti-aging skincare products, while millennials are leading the trend towards organic components, plant-based extracts, vegan beauty products, and cruelty-free cosmetics. The PCCM market is a low-margin business that requires branding, advertising, new product development, and product innovation to stay competitive. Hectic lifestyles and environmental pollution have led to a surge in demand for skincare masks and other specialty products. Fiscal stimulus packages, vaccination drives, and e-commerce platforms have further accelerated the growth of this market. As consumers become more conscious of their health and well-being, the demand for personal hygiene and skincare products is expected to continue growing.
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