Asia-Pacific FPM contract manufacturing market is expected to grow at a CAGR of around 5.5% during the forecast period. The growth of the Asia-Pacific FPM contract manufacturing market is accredited to the shift of major food companies towards the production facilities and expansion. Key companies such as Nestlé, Kraft, and Unilever already operate in more than 140 countries, including China, Australia and India. According to the Food & Agricultural Organization (FAO) of the United Nations, Heinz has also widened its plant capacity up to 15% in China and opened a new production plant in the Philippines. On the other hand, the Kellogg Company has production facilities in Japan, Thailand, South Korea, Japan and India for supply retail chains in the region.
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In addition, PepsiCo Inc. has been constantly expanding its geographical reach along with its considerable global marketing arm in snack foods which is focusing on Asia-Pacific and Latin America. For instance, in November 2017, PepsiCo Inc. and Suntory Beverage & Food Asia Pte. Ltd has signed an agreement for the development of a beverage joint venture in Thailand. This agreement is intended to establish a strong position of PepsiCo, Inc. in Thailand and developing new opportunities for the growth of both companies in the Asia-Pacific FPM contract manufacturing market.
Moreover, in September 2018, Ingredion Inc. an ingredient provider in Westchester, Illinois, the US declared $60 million capital investment in the region. This move is intended for the growth of its food ingredients business in the region. These capital investment projects comprise a 20% expansion of its capacity of tapioca modified food starch in Thailand coupled with the advanced promotion to its facilities of wastewater treatment. Such strategic investment is aimed to leverage the growing capabilities and strengthen manufacturing networks in the region to meet the growing demand of consumers and in turn, contributing to the Asia-Pacific FPM contract manufacturing market growth.
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A full Report of Asia-Pacific Food Processing and Manufacturing (FPM) is Available at: https://www.omrglobal.com/industry-reports/asia-pacific-fpm-contract-manufacturing-market
Asia-Pacific FPM Contract Manufacturing Market Segmentation
By Services
- Food Manufacturing Services
- Convenience Foods
- Bakery Products
- Dietary Supplement
- Confectionery Products
- Dairy Products
- Others
- Research and Development
- Food Packaging Services
(This release has been published on Global Market Post. Global Market Post is not responsible for any content included in this release.)
