Home care contract manufacturing market has grown significantly since 2017 and is expected to grow at a CAGR of 11.42% from 2020-2025. Some of the homecare product manufacturers have expanded their business geographically during the lockdown period.
Synergy HomeCare announced that it has sold in 35% more territories in 2020 as compared to 2019. Similarly, Best Life Brands awarded 71 new franchise agreements across its brands last year. Other companies like HHCN expect the sales to be boosted even more when the pandemic comes to an end.
A U.K.-based contract manufacturer, McBride, has utilized this opportunity to expand its portfolio. In retail manufacturing alone, McBride has 6000 references manufactured and 1.5 million pallets delivered to over 250 customers. As a contract manufacturer, they have boosted their customer base. As of 2020, they have manufactured over 30 home and laundry care categories, which are active in the market for 150 brands.
The suppliers offering contract manufacturing for homecare products also cater to personal products, which is witnessing a strong growth due to changes in shopping patterns and formulations. The major selection criteria are Certifications and Ingredients used by the contract manufacturer, brands prefer partnering with manufacturers who use organic ingredients in their production process.
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Home care contract manufacturers are investing more into R&D due to the rising health and environmental concerns among consumers
The global market features a fragmented competitive landscape and several small players are entering the market
Suppliers widely prefer bundled outsourcing operating models to reduce the risks and improve the potential for value creation
Grand View Research has identified the following key cost components for Home care Contract Manufacturing:
Raw Material Costs
Labor and Manual Overheads
Raw materials are the major cost component of home care contract manufacturing and account for 75% of the total cost of production.
Unified Solutions for Cleaning
Access Business Group
The Korex Companies
N.G. Electro Products
AAYKAY Detergents and Chemicals
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