What is the global market size of Food Contract Manufacturing Market?

Food Contract Manufacturing Market size was valued at USD 120.96 billion in 2021 and is poised to grow from USD 132.45 billion in 2022 to USD 273.76 billion by 2030, growing at a CAGR of 9.5% in the forecast period (2023-2030).

Global Food Contract Manufacturing Market

Food Contract Manufacturing Market Size, Share, Growth Analysis, By Product(Frozen Food, Canned Food, Bakery Product, Beverages), By Service Outlook(Manufacturing, Packaging, Custom Formulation and R & D), By Region - Industry Forecast 2024-2031

Report ID: SQMIG30I2153 | Region: Global | Published Date: July, 2024
Pages: 198 | Tables: 67 | Figures: 75

Food Contract Manufacturing Market Regional Insights

North America dominated the global market owing to increasing food manufacturing and processing services outsourcing. Also, due to the low-cost services offered by contract manufacturers, there is an increase in food processing and manufacturing. The market for food contract packaging in North America is increasing quickly due to the rising need for packaging in categories including food and drinks.

Asia Pacific is expected to grow at the fastest CAGR. Due to industrialization, rising household incomes, and population increase, the food business has undergone fast development.

Food Contract Manufacturing Market Report Snapshots

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Food Contract Manufacturing Market size was valued at USD 132.45 Billion in 2022 and is poised to grow from USD 145.03 Billion in 2023 to USD 299.76 Billion by 2031, at a CAGR of 9.5% during the forecast period (2024-2031).

Large manufacturers are observing growing value chain consolidation. Also, businesses have begun to offer extra value-added services including packaging, R&D expertise, and storage, which has stimulated industry expansion. Innovative strategies developed by food contract manufacturers have created chances for co-development. Manufacturing now plays a major part in supply chain strategies adopted by food firms, giving them a competitive advantage. 'Archer Daniels Midland Company', 'Cargill Inc.', 'Royal FrieslandCampina N.V.', 'Kerry Group Plc', 'Nestlé S.A.', 'Döhler Group SE', 'Bunge Limited', 'ConAgra Foods Inc.', 'Dairiconcepts LP', 'HAVI Solutions', 'Ajinomoto Co. Inc.', 'Tate & Lyle Plc', 'DLA Group Pty Ltd.', 'TreeHouse Foods Inc.', 'JBS S.A.', 'General Mills Inc.', 'The Scoular Company', 'B&G Foods Inc.', 'Rich Products Corporation', 'Hearthside Food Solutions LLC'

Contract manufacturing allows food companies to expand their product offerings and enter new markets without significant capital investments in production facilities and equipment.

Emergence of Value-based services: A number of value-added services, including packaging, research, advising, and warehousing, are now being offered by food contract manufacturers, enabling the speedy expansion of the food industry.

North America dominated the market owing to increasing food manufacturing and processing services outsourcing. Also, due to the low-cost services offered by contract manufacturers, there is an increase in food processing and manufacturing. The market for food contract packaging in North America is increasing quickly due to the rising need for packaging in categories including food and drinks.

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Food Contract Manufacturing Market Size, Share, Growth Analysis, By Product(Frozen Food, Canned Food, Bakery Product, Beverages), By Service Outlook(Manufacturing, Packaging, Custom Formulation and R & D), By Region - Industry Forecast 2024-2031

Food Contract Manufacturing Market Regional Insights

Food Contract Manufacturing Market Report Snapshots

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