GOOD NEWS: THE GLOBAL PERSONAL CARE CONTRACT MANUFACTURING MARKET IS ON THE RISE!
In 2019, the market was valued at USD 18.1 billion and is only expected to grow. By 2027, experts estimate the market will increase by 6.1%.
If you want a piece of the market, you need to stay on top of consumer demand and the latest trends in personal care contract manufacturing. We’ve rounded up the biggest trends that will drive the personal care manufacturing market for the next decade so you can stay ahead of the curve.
KEEP IT ORGANIC
The consumer demand for organic beauty products, including skincare, hair care, makeup & color cosmetics, fragrances & deodorants, and more, is enormous. Experts expect the organic personal care market to reach USD 48 billion by 2025.
Why this growth? Consumers are becoming savvier about what ingredients go into their products. Buyers who are young adults (think Millennials and Gen Z) are also concerned about ethical sourcing, which is part of the new “clean” beauty movement.
If you want to capitalize on this market, opt for organic ingredients rather than synthetic raw materials for your skincare or personal care products.
THE US COMES OUT ON TOP
According to a report by Research and Markets, the US personal care market dominates the global scene when it comes to contract manufacturing. This is largely thanks to major personal care product manufacturers like Estée Lauder, Johnson & Johnson, and Procter & Gamble. Other factors include custom contract manufacturers like Pure Source, who manufacture products right here in the U.S.
However, you don’t need to be confined to the U.S. for your personal care market. The report suggests that Germany will experience substantial growth in the personal care market, and the rest of Europe will follow.
SKINCARE IS TIMELY
The combination of technological advancements in skincare and a new generation seeing signs of aging means that the skincare market is on the rise. In the US alone, skincare products sales grew by 13% in 2018.
There are a few reasons for skincare’s explosion in popularity. Social media, aging millennials, gender-non-specific products, boutique brands, and the demand for clean beauty seem to be the driving forces behind this trend.
CUSTOMIZATION IS KEY
You may have noticed the uptick in personal care products that are marketed as personalized or customizable for individual customers. This includes a wide range of products, from vitamins and hair supplements to shampoo.
The Research and Markets report also found that the biggest brands in contract manufacturing are earning a huge market share for their products by offering customers high-quality products and customized solutions at a wide range of price points.
READY TO CONQUER THE PERSONAL CARE MARKET ?
Let Pure Source be your partner in personal care contract manufacturing. We are a registered and certified manufacturer for pharmaceuticals, cosmetics, vitamins and supplements and will work with you to create a completely customized solution for your company.
