USD 132.45 Billion
Global Food Contract Manufacturing Market Size, Share, Growth Analysis, By Product(Frozen Food, Canned Food), By Service Outlook(Manufacturing, Packaging) - Industry Forecast 2024-2031
Report ID:
SQMIG30I2153 |
Region:
Global |
Published Date: April, 2024
Pages:
198
|
Tables:
67 |
Figures:
75
Global Food Contract Manufacturing Market Insights
Global 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).
Contract manufacturing for food is a form of outsourcing where one business hires another to produce its goods. This aids the client organization in concentrating more on marketing and branding. For instance, fresh bread demand climbed by 76% and frozen vegetable demand increased by 52% across Europe, according to Oxford Press, a UK-based Oxford University Press.
Moreover, the intake of nutritious foods and drinks grew, with vegetables increasing by 33%, fruit by 29%, legumes by 26.5%, and extra virgin olive oil increasing by 21.5%. As a result, the pandemic's heightened demand for food is what will continue to fuel the market. Because OEMs and emerging food producers have limited production capabilities, contract manufacturing is becoming more popular. Moreover, food contract manufacturers have begun to provide a range of value-added services like packaging, research, advising, and warehousing, which has allowed the food industry to expand quickly.
US Food Contract Manufacturing Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Manufacturing
Fastest Growth
Manufacturing
Growth Rate
9.5% CAGR
Global Food Contract Manufacturing Market 2021-2030 ($ Bn)
Country Share for North America Region- 2021 (%)
Global Food Contract Manufacturing Market Size By Service Outlook 2021-2030 ($ Bn)
Global Food Contract Manufacturing Market Size By Service Outlook 2021-2030 (%)
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Global Food Contract Manufacturing Market Segmental Analysis
Global Food Contract Manufacturing Market is segmented on the basis of Product, Service Outlook, and region. By Product, the market is segmented into Frozen Food, Canned Food, Bakery Product, Beverages, Dairy Products, Meat, Poultry & Seafood Product. By Service Outlook, Food Contract Manufacturing Market is segmented into Manufacturing, Packaging, Custom Formulation and R&D. By region, the global market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Food Contract Manufacturing Market Analysis by Product
The beverages segment dominated the global market. The segment includes carbonated soft drinks, functional and health-oriented drinks, juices, energy drinks, sports drinks, and others. Some of the factors driving the growth of the beverages segment in the food contract manufacturing market include increasing demand for functional and health-oriented drinks, growing popularity of plant-based and natural beverages.
The meat, poultry, and seafood products segment is expected to grow at the fastest CAGR. Some factors driving the growth of the meat, poultry, and seafood products segment include increasing demand for halal and kosher-certified products, rising global population and urbanization, growing demand for protein-rich diets, and increasing awareness of food safety and quality.
Food Contract Manufacturing Market Analysis by Service Outlook
The manufacturing service dominated the global market. The main drivers of the market growth have been food firms seeking to increase value and efficiency, production limitations, the emergence of e-commerce, and private equity investment. Also, certain food businesses provide a specialized formula for food processing, which is anticipated to boost the industry's expansion.
Revenue growth for custom formulation and R&D is anticipated to increase at the fastest CAGR. Food businesses that are small and medium-sized frequently lack the customer insights or a specialized R&D team necessary to develop new products.
Global Food Contract Manufacturing Market Size By Service Outlook 2021(%), 2023 (%)
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Global 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.
Global Food Contract Manufacturing Market Size By Geography, 2021-2030, 2024-2031
- Largest
- Fastest
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Global Food Contract Manufacturing Market Dynamics
Food Contract Manufacturing Market Drivers
Expansion into new markets
- Contract manufacturing allows food companies to expand their product offerings and enter new markets without significant capital investments in production facilities and equipment.
- By partnering with contract manufacturers in different regions, food companies can take advantage of local expertise, access to raw materials, and regulatory knowledge.
- Contract manufacturing can help food companies meet the specific requirements of local markets, such as labeling and packaging regulations, and cultural preferences. This can lead to increased sales and market share in new regions, driving growth for the food company.
- Customization and flexibility are essential in the global food contract manufacturing market drivers. Contract manufacturing allows food companies to customize their products according to their specific requirements, including product formulation, packaging, and labelling. This allows greater flexibility in product development and faster time-to-market.
Food Contract Manufacturing Market Restraints
Quality control
- Maintaining consistent product quality can be challenging when outsourcing food production to contract manufacturers.
- Food companies need to ensure that contract manufacturers adhere to strict quality control standards and maintain high levels of hygiene and safety in their production facilities.
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Global Food Contract Manufacturing Market Competitive Landscape
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.
Food Contract Manufacturing Market Top Player’s Company Profiles
- 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 Global 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
Food Contract Manufacturing Market Recent Developments
- In February 2023, the draft guidance for the industry on labelling plant-based milk substitutes is now available, according to the U.S. Food and Drug Administration (FDA). According to the guidelines, milk substitutes made from plants may be referred to as "milk" if they are "qualified by the plant source of the item," such as "soy milk" or "almond milk.
- In March 2022, the cutting-edge vacuum-microwave toll drying facility, REVworx, was introduced by EnWave Corporation, a Canadian advanced technology business. This facility offers on-demand contract manufacturing services to food businesses of all sizes for the creation of superior vacuum-microwave dried snacks.
Global Food Contract Manufacturing Key Market Trends
- 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.
- Rise in Private Equity Investments: Several contract manufacturers were able to get long-term contracts, which helped them advance to the top of the sector. Also, private equity investments have made it possible for contract manufacturers to increase their capacity and provide other services.
Global Food Contract Manufacturing Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to the global food contract manufacturing market report analysis, the global market has seen significant growth in recent years, driven by factors such as the increasing demand for convenience foods, the need for cost-effective production solutions, and the trend towards outsourcing non-core business functions. One of the key drivers of the global market is the expansion of food companies into new domestic and international markets. The global market offers significant opportunities for food companies to expand their product offerings, enter new markets, and improve their supply chain efficiency. By partnering with contract manufacturers, food companies can access a range of benefits, including cost savings, expertise, and flexibility, while also reducing their exposure to supply chain risks.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 132.45 Billion |
| Market size value in 2031 | USD 299.76 Billion |
| Growth Rate | 9.5% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Food Contract Manufacturing Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Food Contract Manufacturing Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global Food Contract Manufacturing Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Food Contract Manufacturing Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Food Contract Manufacturing Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Food Contract Manufacturing Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Global Food Contract Manufacturing Market Report Snapshots
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