Personal Care Contract Manufacturing (Pccm) Market Size to grow by USD 7.8 billion between 2024-2028
The Personal Care Contract Manufacturing (Pccm) Market is segmented by Product Type (Skin care, Hair care, Make-up and cosmetics, and Others), Service (Manufacturing, Packaging, and Custom formulation), and Geography (APAC, North America, Europe, Middle East and Africa, and South America). As per the Global Forecast research report 2024-2028 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. There are several companies that are contributing to the market as per this report. Influence through social media and blogging .
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.
For insights on company offerings- Request a sample report!
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.
Why is APAC forecasted to hold the largest regional market size 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.
To access the valuable insights - Download the Free Sample Report
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 segment of the larger industrial machinery and supplies and components market. This market encompasses businesses specializing in the manufacturing of machinery and components used in the production of personal care products. According to Technavio, the global industrial machinery and supplies and components market is projected to grow due to increasing industrial output in process and discrete industries, particularly in developing countries. This expansion is driven by the rising demand for energy, chemicals and petrochemicals, pulp and paper products, and processed food and beverages. The market size is determined by the combined revenue generated by manufacturers of machinery and components employed in industrial settings. Key factors fueling growth in this sector include capacity additions in industries and the increasing economic growth of developing nations. - The Personal Care Contract Manufacturing (Pccm) Market is experiencing significant growth, fueled by the . Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
