The U.S. personal care contract manufacturing market size is expected to reach USD 3.93 billion by 2025, registering a 6.0% CAGR over the forecast period, as per a new report published by Grand View Research Inc. Rising demand for organic products on account of the harmful effects of chemical skincare is anticipated to boost the market growth.
The development of new and gender-specific products in the country is expected to drive demand for personal care products. In addition, augmenting the implementation of styling mousses, hair sprays, and deodorants by male consumers, along with the heightened demand for lip colors, lip-glosses, and other cosmetics products from the female consumers is expected to drive market growth.
The highly competitive nature of the personal care industry in the country is expected to have a positive impact on the demand for contract manufacturing. Furthermore, reduced focus on in-house production, coupled with increased investment on financial as well as human resources, is expected to boost the personal care contract manufacturing market.
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Further key findings from the report suggest:
- Skincare is expected to register a CAGR of 6.5%, in terms of revenue, from 2019 to 2025 on account rising demand for UV protection with rise in sightseeing, traveling, and other outdoor activities
- Fragrances and deodorants segment accounted for around 14% market share in terms of revenue in 2018 owing to the rapid growth in demand for premium deodorants fragrances including Axe and Dove
- Packaging in the personal care industry is estimated to witness a CAGR of 5.4%, in terms of revenue, from 2019 to 2025 on account of the rising demand for flexible and innovative packaging in the country
- Demand for the custom formulation is estimated to reach USD 147.6 million by 2025 on account of the rapid growth in demand for organic and natural personal care products
- Major market players focus on obtaining a competitive edge by investing in extensive R&D projects and expanding the product portfolio
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Grand View Research has segmented the U.S. personal care contract manufacturing market is segmented on the basis of services:
U.S. Personal Care Contract Manufacturing Service Outlook (Revenue, USD Million, 2014 – 2025)
- Skin Care
- Hair Care
- Make-up & Color Cosmetics
- Fragrances & Deodorants
- Custom Formulation and R&D
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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