On the basis of formulation, the market is segregated into creams, lotions, liquids, gels, oils, and others. Of these, the liquids segment is estimated to foresee a commendable surge over the estimated period. The rise can be credited to the convenience of deploying liquid formulations.
The global personal care contract manufacturing market size was USD 18.19 billion in 2021 and USD 19.60 billion in 2022. It is anticipated to reach USD 33.62 billion in 2029, exhibiting a CAGR of 8.0% over the estimated period. The rise can be credited to the surging consumer spending capacities and increasing awareness regarding personal hygiene.
Additional factor propelling industry growth is the escalating consumption of natural products. Fortune Business Insights™ cites this information in its research report, titled “Personal Care Contract Manufacturing Market, 2022-2029”.
Information Source - https://www.fortunebusinessinsights.com/personal-care-contract-manufacturing-market-102937
