Liquid Contract Manufacturing Market - Forecast(2022 - 2027)

Liquid Contract Manufacturing Market size is forecast to reach US$223.3 billion by 2026, after growing at a CAGR of 5.96% during 2021-2026. Contract manufacturing is a type of business partnership in which the manufacturers handle the manufacturing for the contract company. Toll blending, also known as chemical blending, is a type of contract manufacturing in which liquid or powdered chemicals are combined to introduce a unique chemical. Globally, some of the major drivers for the growth of the market include the complex structure for manufacturing pharmaceuticals, increasing investments in pharmaceutical R&D, increasing usage of liquid contract manufacturers in the personal care and cosmetic industry, and the outbreak of the COVID-19 pandemic. Moreover, the rising usage of HEPA filtration and positive pressure in the liquid contract manufacturing industries to prevent cross-contamination in the weighing suites has surged the growth of the market.

Impact of Covid-19

The Covid-19 pandemic situation widely affected several end-use industries in the year 2020. The pandemic had a positive impact on the pharmaceutical, personal care and cosmetics, food and beverage, and agriculture liquid contract development and manufacturing business. The outbreak has sparked a surge in pharmaceutical demand, spurring the development of antiviral vaccines, corona-related vaccinations, antibody treatment, and a variety of other pharmaceutical goods. To stay afloat, pharmaceutical companies have been urged to use liquid contract development and manufacturing firms for pharmaceutical medication research and production.

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The report “Liquid Contract Manufacturing Market– Forecast (2021-2026)”, by Industry ARC, covers an in-depth analysis of the following segments of the liquid contract manufacturing market.

By Packaging: Bottles, Jars, Tubes, Spray, Syringes, Aerosol Containers, and Others
By Application: Pharmaceutical, Personal Care and Cosmetics, Food and Beverage, Agriculture, and Others
By Geography: North America (USA, Canada, and Mexico), Europe (UK, Germany, Italy, France, Spain, Netherlands, Russia, Belgium, and Rest of Europe), Asia Pacific (China, Japan, India, South Korea, Australia and New Zealand, Taiwan, Indonesia, Malaysia, and Rest of Asia Pacific),South America (Brazil, Argentina, Colombia, Chile, and Rest of South America), and RoW (Middle East and Africa)

• North America region dominated the liquid contract manufacturing market owing to the rising growth of the personal care and cosmetics, pharmaceutical, and food and beverage industries in emerging economies such as USA, Canada, and Mexico.
• Complex manufacturing requirements and the positive impact of Covid-19 in the pharmaceutical industry are further anticipated to boost the growth of the market in the forecast period.
• Rising growth of serialization in various end-use industries is likely to create hurdles for the growth of the liquid contract manufacturing market in the upcoming years.

Figure: North America Liquid Contract Manufacturing Market Revenue, 2020-2026 (US$ Billion)

Pharmaceutical sector held the largest share in the liquid contract manufacturing market in 2020 and is anticipated to grow at a CAGR of 6.38% during the forecast period 2021-2026. The employment of innovative technologies and manufacturing capabilities, the growing need to cut manufacturing costs, the requirement for high-quality bulk manufacturing, and the expanding demand for generic drugs are driving the demand for liquid contract manufacturing. Furthermore, the rising cost of clinical trials, the expanding prevalence of numerous infectious diseases, and the growing requirement for state-of-the-art processes and production technologies is estimated to raise the need for liquid contract manufacturing in the forecast period. Surging demand for chemical blending for the production of drugs in the pharmaceutical industry will also drive the demand for liquid contract manufacturing. Thus, the rapidly risings demand for liquid contract manufacturing in the pharmaceutical industry is estimated to incline the growth of the market.

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North America region dominated the liquid contract manufacturing market with a share of 36% in 2020 and is projected to dominate the market during the forecast period (2021-2026). The liquid contract manufacturing market has benefited significantly from the growth of the pharmaceutical, food and beverage, and personal care and cosmetics sectors in the North America region. For instance, according to the International Trade Administration, the total production of cosmetics and personal care products in Mexico was found to be US$ 7.15 billion in 2019 which was up from US$ 6.90 billion in 2017. In addition, as per the Patented Medicines Prices Review Board (PMPRB), Annual Report, total pharmaceutical sales in Canada (including non-patented over-the-counter medicines) climbed by 35.3% to US$ 29.9 billion in 2019, with 86.7% sold to retail pharmacy shops and 13.3% sold to hospitals. Thus, with the inclining growth of end use industries in several countries of the North America region the market for liquid contract manufacturing is also estimated to rise over the forecast period.

The economic environment of a firm is becoming more variable and complex as economic globalization accelerates and market competition gets harsher. To maintain a competitive edge, many businesses continue to invest in research and development (R&D) operations in quality enhancement, cost reduction, and other areas. The liquid contract manufacturers are considering investments in R&D to improve the product quality and lower manufacturing costs. In various regions with rising R&D investments, the market for liquid contract manufacturing is rising rapidly. For instance, according to the India Brand Equity Foundation, rising private-sector investments in R&D and acquisitions are propelling the pharmaceutical forward. In fiscal year 2018, the Indian pharmaceutical companies invested 8.8% of their sales in R&D. Also, according to the Congressional Budget Office in 2019, the pharmaceutical industry spent US$ 83 billion on research and development in the USA. As a result, the government's increased investments in pharmaceutical R&D are projected to enhance outsourcing, propelling the expansion of the liquid contract development and manufacturing market.

When it comes to personal care manufacturing products, it is extremely difficult to handle the manufacturing. Furthermore, in-house production is costly, whereas private labelling requires the manufacturer to tack the brand onto someone else's formulation. As a result, contract manufacturing is an alternative solution to this problem. Personal care liquid contract manufacturing is an excellent method for introducing new personal care products to the market, mainly the hair and skin care products. Because skincare products are manufactured for a variety of skin conditions and skin types, manufacturers tend to provide a broader product portfolio based on consumer preferences. As a result, rising demand for skincare products, particularly among millennials, is expected to drive the market. Rapidly increasing demand for liquid contract manufacturing in the personal care and cosmetic industry is further estimated to drive the market growth.

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Serialization is a complicated procedure that will have implications throughout business operations as well as their contract manufacturing and packaging partners. The process of establishing serialization in the organization entails much more than just producing a number and affixing it to the side of a package. Serialization ushers in a new era for the industry. The company's focus as a liquid contract manufacturer has been on creating identical units to a high level. With serialization, the focus shifts to making the same product, identifying each item with unique data, transmitting that data to supply chain partners, and then potentially accounting for that data for several years to come, depending on the supply-chain function. Various liquid contract manufacturers are concerned that serialization may produce process exceptions, preventing their products from reaching to the customers. If not addressed, these exceptions can continue to accumulate, wreaking havoc on operations and draining resources, resulting in missed sales, expired inventory, stopped shipments, supply shortages, and irreversible brand and reputation harm. As a result, the rising growth of serialization may stymie the growth of the global liquid contract manufacturing market.

Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the liquid contract manufacturing market. Major players in the liquid contract manufacturing market are:

1. Aenova Group
2. Grupo RAR
3. Importfab Inc.
4. Jubilant life sciences Ltd.
5. Radical Cosmetics
6. Hatchbeauty LLC
7. Skinlys
8. Ajinomoto Althea Inc.
9. Vonco Products LLC among others.

In August 2020, McFarlane Medical, Inc. acquired by Vonco Products LLC, an industry leader in contract manufacture of liquid-tight medical fluid bags and components for specialized medical device applications. The company will be able to expand the contract manufacturing capabilities with this acquisition, which will benefit both the medical device and consumer product customers.

Pharmaceutical Contract Manufacturing Market - Forecast (2021 - 2026)

Report Code: HCR 0308

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Report Code: HCR 69027

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