San Francisco, 10 January 2019: The Report Personal Care Product Contract Manufacturing Market Analysis By Service
[Manufacturing (Skin Care, Hair Care, Color Cosmetics, Fragrances), Custom
Formulation, Packaging], And Segment Forecasts, 2018 - 2025
The global personal care contract manufacturing
market is expected to reach USD 25.8 billion
by 2025, according to a new report by Grand View Research, Inc. Increasing
focus on R&D and promotional activities to gain market share in competitive
personal care industry are expected to drive demand over the forecast period.
The
major brands including P&G, and Unilever are outsourcing mass manufacturing
and have initiated the manufacturing of innovative products to protect their
intellectual property as well as to reduce the operating cost, which is
expected to drive the contract manufacturing market over the forecast period.
Rising
need for skin care products, advanced beauty treatments and marketing
strategies by manufacturers such as Unilever, L’Oréal and P&G and
macroeconomic factors such as rising disposable income of consumers is expected
to result in an increasing demand for cosmetics products, which in turn is
expected to drive the market.
VVF
India Ltd. and ApolloCorp., Inc. survive in the market by catering to the local
customers and maintaining their contracts. As the survival in the industry is
challenging owing to the presence of a large number of local manufacturers,
these companies focus on providing premium quality services to their current
customers rather than acquiring new contracts.
Access Research Report of Personal
Care Contract Manufacturing Market @ www.grandviewresearch.com/industry-analysis/personal-care-product-contract-manufacturing-market
Further key findings from the report suggest:
· Skin
care contract manufacturing accounted for 30.5% of the revenue share in 2016
and is expected to grow at a CAGR of 6.6% owing to the rising demand from
millennials to delay the signs of aging
· Fragrances
& Deodorants accounted for 14% of the overall revenue share with growing
demand for premium fragrances and deodorants such as Axe and Dove owing to
rising focus on personal hygiene
· Rising
demand for organic and natural products is expected to compel the formulators
to search for organic alternatives for synthetic raw materials which are
expected to have a positive impact on the custom formulation and R&D
segment growth
· Asia
pacific accounted for 29.0% of revenue share in 2016 owing to the growing
demand for personal care products among youth in the developing economies
including China and India
· The
major players in contract manufacturing industry adopt different pricing
strategies to acquire new customers and gain regional share by providing
high-performance products with customized solutions concerning services.
Browse more
reports of this category by Grand View Research at: www.grandviewresearch.com/industry/personal-care-and-cosmetics
Grand
View Research has segmented the global personal care product contract
manufacturing market on the basis of service and region:
Service Outlook (Revenue, USD Million, 2014
- 2025)
·
Manufacturing
·
Custom
Formulation and R&D
·
Packaging
·
Others
Regional Outlook (Revenue, USD Million,
2014 - 2025)
·
North
America
·
Europe
·
Asia
Pacific
·
Rest
of World
Access Press Release of Personal
Care Contract Manufacturing Market@ www.grandviewresearch.com/press-release/global-personal-care-product-contract-manufacturing-market
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
No comments:
Post a Comment