The Europe Food Contract Manufacturing Market would witness market growth of 9.1% CAGR during the forecast period (2023-2030).
Contract manufacturing is increasing due to the limited manufacturing capabilities of emerging food and original equipment manufacturers. Additionally, food contract manufacturers have commenced providing various value-added services, including packaging, research, consulting, and warehousing, which have facilitated the rapid expansion of food companies. Due to the enormous increase in demand in 2020, food processing companies were compelled to utilize contract manufacturers to meet the scope of production. Numerous contract manufacturers have secured lengthy contracts, which has elevated them to prominence. Furthermore, providing other essential services or capacity expansion for contract-manufacturing companies has been made possible through private equity investment.
Food companies have become more astute over time in their utilization of contract manufacturers as a means to circumvent the incremental expenses associated with manufacturing. Additionally, it enables food companies to liberate their cash reserves, a critical resource during the pandemic that fostered a conducive atmosphere for the manufacturers' achievements. Food companies have become increasingly proficient at utilizing contract manufacturers to circumvent the additional costs linked to production. Additionally, it allows food processing companies to release cash flows that were crucial amidst the pandemic, thereby fostering a conducive environment for the growth and success of contract manufacturers.
The European food contract manufacturing market caters to a diverse range of product categories, including snacks, beverages, dairy products, confectionery, and ready-to-eat meals. European contract manufacturers have adapted to the evolving consumer preferences for convenience, health-focused options, and unique flavors. This is crucial for maintaining the high standards associated with German baked goods, ensuring that the products meet the expectations of both consumers and the bakery brands. The factors mentioned above will propel market growth in this region.
The Germany market dominated the Europe Food Contract Manufacturing Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $10,291.1 million by 2030. The UK market is exhibiting a CAGR of 8.2% during (2023 - 2030). Additionally, The France market would experience a CAGR of 9.9% during (2023 - 2030).
Based on Service, the market is segmented into Manufacturing, Packaging and Custom Formulation & R&D. Based on End-Use, the market is segmented into Dietary Supplement, Dairy Products, Convenience Foods, Bakery Products, Confectionery and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Food Contract Manufacturing Market will Hit $261.2 Billion by 2030, at a CAGR of 9.5%
The market research report covers the analysis of key stakeholders of the market. Key companies profiled in the report include Hearthside Food Solutions LLC, Nikken Foods Co., Ltd., Haco Holding AG, SK Food Group (Premium Brands Holdings Corporation), Pacmoore Products Inc. (Glanbia PLC), Cremica Food Industries Limited, Kilfera Food Manufacturers Ltd, Nutrascience Labs, Inc (Twinlab Consolidation Corporation (TCC)) (Twinlab Consolidated Holdings Inc.), Thrive Foods, and Orion Corporation.
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