Global food contract manufacturing market is anticipated to grow at a CAGR of 9.2% during the forecast period (2024-031). FPM contract manufacturing is a strategic method used by food brands to meet the growing demand for their products while maintaining high-quality standards. Partnering with contract manufacturers provides the company, access to specialized facilities, advanced equipment, and expertise of the contractor. This method is cost and time-effective and also results in better quality output. This also reduces company setup and R&D costs. The market growth is driven by the lack of manufacturing production capabilities of OEMs (Original Equipment Manufacturers), growing demand for convenience food owing to lifestyle changes, the need for product differentiation, and expanding product portfolio.
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Recent Developments
- In July 2023, Eastern India–based food company Annapurna Swadisht signed a contract manufacturing agreement with Gopal Food Product.
- In June 2023, Thrive Foods, a manufacturer of freeze-dried products, announced that it had agreed to acquire Groneweg Group, a global manufacturer and supplier of frozen and air-dried ingredients.
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Market Coverage
- The market number available for 2023-2031
- Base year: 2023
- Forecast period: 2024-2031
- Segment Covered-
o By Service
- Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
- Competitive Landscape: Hindustan Foods, PacMoore, SAJ Food Products, Makson Group of Companies, Access Business Group, Lake City Foods, and Hugli Holdings AG among others.
Key questions addressed by the report
- What is the market’s growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- Who is the leader in the market?
- How are players addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Food Contract Manufacturing Market Report Segment
By Service
- Food Manufacturing Services
o Convenience Foods
o Bakery Products
o Dietary Supplement
o Confectionery Products
o Dairy Products
o Others (Savory & Snacks)
- R&D Services
- Food Packaging Services
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