Why Contract Development and Manufacturing Organizations Should Be An Integral Part Of Your Product Development Strategy For 2024
The dynamic landscape of the beauty and personal care industry is shifting faster than ever and innovation is crucial for brand success. Expected to reach over $750B in revenue by 20321 and driven by trends like Clean Beauty, Health & Wellness, Inclusivity and Sustainability, the Beauty and Personal Care industry is ripe for innovation. In fact, Nielsen IQ recently found in their BASES report, Innovating Out of Crisis Thought Leadership, that companies that prioritized innovation over the last three years were almost 3 times more likely to grow sales than those that reduced their innovation efforts.2 Companies can no longer rely on hero SKUs to drive growth and consistent evolution will be critical for companies to stay relevant to consumers.
CDMOs (Contract Development and Manufacturing Organizations) can help unlock innovation in your business by closely collaborating with your team to understand your unique needs, offer tailored solutions and bring your vision to life in record time. They can bring products to market faster and more efficiently through concept collaboration, existing raw material partnerships, and flexible & scalable manufacturing processes. But the ability to constantly innovate and provide unique solutions that meet customers’ changing needs differentiates the most successful CDMOs from the rest.
Accupac is a premier CDMO that has been meeting its client’s unique needs and helping drive industry growth for almost 50 years. Understanding that there is fierce competition in the industry, they act as an extension of your team and enable your business to bring innovative, performance, and on-trend products to market faster. Boasting two state-of-the-art manufacturing facilities in New Jersey and Pennsylvania with over 300,000 square feet of laboratory, manufacturing, filling, packing, and warehousing space, they can support brand launches of every size. Certified GMP, ISO Certified and FDA registered, they develop and manufacture products for some of the biggest brands around the world across cosmetic, OTC, and medical device categories including skin care, sun care, body care & wash, hair care, premium beauty, men’s grooming, baby care, oral care, topical wound care and pet care.
Accupac’s longstanding industry history and breadth and depth of their capabilities make them a critical partner and key innovation driver for their customers’ brands. Cobalt Labs, Accupac’s dedicated Innovation Division, offers a full suite of R&D and Innovation services for brands of all sizes. Cobalt Labs is plugged into the Beauty and Personal Care Industry through a network of partnerships called their “innovation ecosystem”. This includes partners with decades of industry experience in formulation, raw ingredients, advanced technologies, trend forecasters, procurement, packaging, testing, and regulatory experts. This network of expertise not only allows them to create the highest quality products that solve consumer tensions and deliver against deep insight, but it also allows them to do it quickly and efficiently.
Fueled by fierce collaboration with clients to be bold, think bigger, and win together, Accupac and Cobalt Labs continually strive to challenge the status quo. Cobalt Labs has designed custom innovations for their customers including revolutionary biomimetic oral care, zero waste body care, direct-to-consumer routine-changing oral care, and skincare made for and by those with diverse skin tones.
The benefit of using a CDMO like Accupac is their flexible menu of capabilities available to brands of all sizes. Accupac can partner with you on your launch from concept generation and formula development through to manufacturing, or they can support the manufacturing and commercialization of a product formula you already own. Accupac is the trusted partner to some of the best-known BPC brands in the world, recognized for their product performance and undeniable quality, and they are regarded as a partner that is big enough to support the largest launches and small enough to give the personalized customer service you need.
Chad Holzer, Accupac’s CEO remarked, “We implement strategies to help our clients succeed by leveraging our 50 years of experience and industry knowledge along with our suite of capabilities to help meet our clients’ unique needs. Our culture of service prioritizes our customers, and we are constantly evolving – keeping up with the shifting market landscape and helping to facilitate our customers’ growth.”
And evolving they are. In fact, Accupac recently conducted a research study across customers and competitors to understand the new needs in the CDMO space as the BPC industry grows and how they can best solve for them. Those insights are driving new processes and capabilities that they will continue to build.
The Beauty and Personal Care Industry will continue to evolve, and brands will need to pivot quickly to keep up. CDMOs can help accomplish that. Holzer agrees, “Looking into the future and into 2024, we see where the industry is going, we understand what your brand needs to win, and it is our promise to support your growth.”
Accupac can seamlessly integrate your project into their proven processes to get your product to market on time. You can find out more about Accupac and how they can support innovation for your brand here: Our Capabilities, or by reaching out to [email protected].