If you’re considering starting a manufacturing business, you’re in the right place.
There are so many opportunities for manufacturing products, whether you’re interested in large-scale or small-scale manufacturing business ideas.
The key to starting a manufacturing business is determining what products you can create and sell for a decent profit margin.
We’re going to explain what a manufacturing business is, why you should start one in 2023, the top 12 manufacturing business ideas, and give you some tips to grow your new profitable business.
Plus – we’re going to break down selling your products on Alibaba.com. Opening a seller account is easy and getting your business off the ground is even easier with Alibaba.com!
What is a manufacturing business?
First things first, what is a manufacturing business?
A manufacturing business can be described as a business that takes raw materials, parts, or components to make a finished product.
Any business that turns materials into products is considered a manufacturing business – it doesn’t matter what they produce.
Whether a business is selling industrial tools, home goods, or food products – if they’re turning parts into products, it’s a manufacturing business!
Why you should start a manufacturing business
There are a lot of benefits to starting a manufacturing business in 2023.
First, there is a growing demand for product transparency in almost all industries. Consumers want to know the products they’re purchasing are ethically responsible and of good quality. You have the power to change this for your customers!
If you have a passion for product transparency, creating your own manufacturing company will help you with this mission. No more communicating with suppliers to figure out where their standards are when it comes to the products you’re selling.
By manufacturing your own products, you’ll have the utmost control over their quality. It’s easier to make changes based on customer feedback, you can avoid communication with suppliers, and you can refine your quality control processes.
People also have high expectations of customer service from businesses. By starting your own manufacturing business, you can control your customer service to make it top-notch.
Also, by starting your own manufacturing business, you can be in charge of your business’s safety protocols and standards. By doing so, you can make sure laws and regulations are being met.
Manufacturing your own products can also help save some costs (despite the heavy start-up fees). If you’re constantly faced with expensive bills for shipping, customs and duties, creating your own products can help you avoid these fees.
Ultimately, by starting your own manufacturing business, you can increase your control over many aspects of your business and its manufacturing process.
If these benefits appeal to you, read on to learn the top 12 manufacturing businesses for 2023!
12 top manufacturing business ideas to start in 2023
If you’re convinced you’d like to start a manufacturing business, that’s great! The next step is deciding what products to manufacture.
You can choose between small-scale or large-scale products, but you should make sure your products are in high demand.
Whether you’re an established small business, a new start-up, or a large company, here are the top 12 manufacturing business ideas for 2023.
1. Children’s toys
Children’s toys are always a great item to manufacture for a couple of reasons.
First of all, there will always be demand! Second of all, the cost to produce is often low in comparison to the selling price, which gives you a great profit margin.
2. Paper products
If you commit to manufacturing paper products, there is lots of room for growth within your business.
Paper products span many industries and are very versatile. Plus, if you specialize in producing recycled paper products, you’ll be able to target more customers in 2023 to meet market demand.
3. Kitchen items
There are many options for products when it comes to kitchen items. And you can choose what you would like to manufacture!
If you have the desire to design functional and aesthetic products, kitchen products are a great option for your business.
Sure, kitchen products are a competitive niche, but if you have an eye for design and creativity, you can make products that attract customers instantly.
4. Rugs and carpets
Another great product for your business to manufacture is rugs and carpets.
Rugs and carpets are purchased and used all over the world. So, your local and international market potential is endless!
Rugs, carpets, and textiles in general are known for low production costs and high resale value.
5. Mobile phone accessories
It’s 2022 and mobile phones aren’t going away anytime soon. Neither are their accessories.
Mobile phone accessories go through trends just like any other industry. If you follow these trends, then mobile phone accessories could be a great product for you to manufacture!
Whether you choose phone cases, chargers, listening devices, chords, or charms, that’s up to you. There are plenty of small-scale mobile phone accessories you can choose to manufacture.
6. Makeup and beauty products
The makeup and beauty product industry is saturated – but that doesn’t mean there’s no room to join. Beauty is an especially good industry for manufacturers who want to give the option of private labeling to their customers.
Private labeling means you make products and your wholesale customers put their logos and labels on them. It’s a profitable option that can expand your customer base as you can sell your perfected products over and over again, with a different label for each customer.
7. Vegan food products
Another major trend in 2023 is vegan food products. If you’re interested in manufacturing food products, going vegan is the way to go!
Food items such as soy products and protein products are incredibly popular nowadays. And by manufacturing them yourself, you can ensure customers are receiving the best quality food products.
8. Reusable plastics
Single-use plastics have a growing negative reputation all around the world. In fact, they’re being outright banned in some markets.
If you start a business creating reusable plastics, you’ll be able to target areas and businesses that are trying to avoid single-use plastics.
Choose whether you want to make reusable plastic bags, cups, food containers, and more.
9. Personal protective equipment
Ever since 2020 and the global pandemic, personal protective equipment (PPE) has had high demand and low supply. And you could change that!
Many workplaces require masks, gloves, and other PPE for their employees. Combine the high demand with the low cost of production and you have a winning product on your hands.
10. Textile production
The world of textiles never slows down. The global textile industry was valued at USD 993.6 billion in 2021 and is anticipated to grow 4% annually from 2022 to 20301.
If you want to join the fashion and design industry, the textile industry is for you. Your cost of production will depend on the quality of your products and whether you’d rather manufacture affordable or luxury goods.
11. Automobile parts
Another product that has had high demand and low supply in recent years is automobile parts.
By creating an automobile parts manufacturing company, you’ll be servicing an industry you know is highly profitable.
Choose between small-scale or large-scale automobile parts. The automotive industry (small, medium, and heavy-duty parts) is projected at $439 billion in 20222.
12. Biodegradable or compostable products
Like recycled goods, environmentally conscious products are an extremely profitable item to manufacture in 2022.
Environmentally friendly products can either be recyclable, biodegradable, or compostable. The first step is to learn the difference between these options and which stands out to you. Then, decide what exact products you’d like to manufacture.
Considering the biodegradable plastic market is expected to grow at a compound annual growth rate of 9.7%3 and compostable plastics are expected to have a 15.4% CAGR4, you can’t go wrong with either choice.
Tips for growing your manufacturing business
If you’re ready to start your manufacturing business, here are some tips you can follow to scale your business.
Hire the right talent
If you want to grow your business, you need to hire the right talent.
Consider your industry. If you’re working within the automotive industry, you’ll need people well-versed in cars. If you’re starting a fashion business, hiring a team of designers will help your creations.
The right talent will help you expand your products and your offering.
Market your business
The type of marketing you should invest in will depend on your industry and your target audience.
Are you looking to reach international markets? Then focus your efforts on digital marketing. Are you looking to target local businesses for wholesale? Options like direct mail or trade shows are great options for marketing.
If you’re looking to reach international customers, listing your products within online marketplaces like Alibaba.com is a great way to meet plenty of potential customers without expensive marketing costs.
Build your customer relationships
If you’re a manufacturer selling your products wholesale or direct-to-consumer, you need to foster your customer relationships.
By providing great customer service, listening to customer feedback, and offering great quality products, you can build valuable relationships that will keep your business growing for years to come.
Make data-driven decisions
To help your business grow, you need to collect informative, valuable data and use it to make business decisions.
Business growth requires reflection and planning to create and achieve goals. There should be no guesswork involved when it comes to making business decisions!
Investing in software and programs that help you collect, manage, and convert data is a great idea if you want to take your business to new heights. By doing so, you can help streamline your processes, identify and avoid mistakes, and reach new customers.
Sell on Alibaba.com
Alibaba.com is one of the largest B2B wholesale marketplaces in the world. It’s a well-known place for wholesale shoppers and direct-to-consumer shoppers to browse products from all over the world.
Plus, Alibaba.com makes selling easy for businesses by providing helpful resources such as valuable insights like keyword trends, professional services like requests for quotations (RFQ), and informative articles.
Launching your business on Alibaba.com is simple:
- Open a seller account
- Post your products and all the pertinent information
- Build your awesome storefront to attract customers
- Connect with your potential customers
- Start selling your manufactured products
Open a seller account today to start your manufacturing business in a big way!