October, 2024
The personal care CMO and CDMO market is expanding due to the rising demand for specialized and contract manufacturing services, increasing consumer preference for outsourced customized services, the demand for innovative cosmetic products, and the rising complexity of regulatory compliance in the personal care industry in terms of safety and quality.
CDMO/CMO businesses provide various products and services like formulation development, raw material sourcing, packaging and production, and regulatory compliance. Personal care CDMOs typically focus on end-to-end solutions from the product concept to commercialization. Baxter’s pending $4.25-billion sale of its CDMO business. The largest acquisition in the CDMO space thus far in 2023 is Baxter’s pending $4.25-billion sale of its CDMO business, Baxter BioPharma Solutions, to two private-equity firms: Advent International and Warburg Pincus. The deal was announced in May (2023) and is expected to close in the second half of 2023.
Conversely, CMOs specialize in manufacturing and production services according to consumer demand and requirements. Key factors that help expand the market are natural and organic cosmetics, the rise of personalized beauty products, and the globalization of cosmetic brands—technological advancements in cosmetic formulation. Packaging manufacturing enables innovation and product differentiation.
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