Press release
Global Cosmetic CDMOs Market 2023: East Asia Accounts for Close to One-fourth Market Share | PMR
As assessed by Persistence Market Research, contract manufacturing is expected to hold a market value of around US$ 25.8 Bn by the end of 2032. Overall, cosmetic CDMO sales account for approximately 11.7% revenue share of the global contract development and manufacturing organization (CDMO) market, which was valued at US$ 171.1 Bn in 2021.
The global market for cosmetic CDMOs recorded a historic CAGR of 4.9% in the last 5 years from 2016 to 2021. The purchasing preferences of consumers nowadays have significantly changed. Mass-produced personal care and beauty products are less popular; instead, people are more inclined to choose specialized products and distinctive brands that complement their lifestyles. Customers also have serious reservations regarding the products' components, manufacturing process, and packaging.
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The cosmetic CDMO market is expected to grow significantly in the coming years, driven by a number of factors. One of the key drivers is the increasing demand for personal care and beauty products. The growing popularity of natural and organic products, as well as the rise of the "self-care" movement, has led to an increase in demand for a wide range of cosmetic products, from skincare and hair care to makeup and fragrance.
Another factor driving the growth of the cosmetic CDMO market is the increasing focus on sustainability and eco-friendliness in the cosmetic industry. Consumers are becoming more conscious of the environmental impact of their purchases and are looking for products that are produced in a sustainable and responsible manner. As a result, many cosmetic companies are turning to CDMOs to help them produce more sustainable and eco-friendly products.
Companies
Swiss American CDMO
Pierre Fabre Group
Zymo Cosmetics
Fareva
Biofarma Srl C.F
Chemineau
O.C. Farmaceutici Srl
PARAGON NORDIC
Cosmetic Solutions
Kolmar
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In addition, the growth of e-commerce platforms have been a game changer for the cosmetics industry, allowing companies to expand their reach, increase their sales and achieve a more efficient customer service. Furthermore, social media has also played a key role in the success of the market, creating a strong demand for cosmetics through influencer marketing and product reviews.
The trend towards personalized cosmetics is also fueling the growth of the cosmetic CDMO market, as consumers seek out products that are tailored to their individual skin types and concerns. This requires advanced research and development capabilities, which many cosmetic companies turn to CDMOs to provide.
Overall, the cosmetic CDMO market is expected to continue growing as the demand for personal care and beauty products continues to increase and consumers become more conscious of the environmental impact of their purchases. As technology and research continues to advance, it is likely that the market will evolve, leading to new and innovative products.
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Key Segments Covered in Cosmetic CDMO Industry Research
By Service:
Contract Development
Formulation Development
Pilot Studies
Contract Manufacturing
Bulk Preparation & Scale Up
Safety Testing
Filling & Packaging
Closed Jars
Bottles
Tubes
Roll-Ons
Others
By Product:
Hair Products
Skin Products
Lip Products
Eye Products
Body Hygiene
Oral Hygiene
By Form:
Solid Form & Powder
Lotions
Creams
Others
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Persistence Market Research's Expertise in Life Sciences and Transformational Health
Our expert team of industry analysts comprising management graduates, medical professionals, engineers, and project managers provides insights on emerging therapy areas, diagnostic tools, medical devices and components, reimbursement and market access, biotechnology, and life science research products and services to equip decision-makers with sound inputs and strategic recommendations. Click here to learn more about how we zero in on the critical aspects of this industry.
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