Food Contract Manufacturing Market size is expected to reach USD 272.07 billion by 2030
Food Contract Manufacturing Industry Overview The global food contract manufacturing market was valued at USD 120.96 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 9.5% during the forecast period. Increasing demand for outsourcing food manufacturing is expected to have a positive impact on the industry growth. The rising prevalence of coronavirus coupled with the increasing R&D spending is expected to have a positive impact on the food contract manufacturing market during the forecast period. Furthermore, factors such as panic buying of comfort food for the duration of the pandemic and rising private equity investment in contract manufacturing are expected to boost industry growth. Gather more insights about the market drivers, restrains and growth of the Global Food Contract Manufacturing Market The COVID-19 pandemic led to prolonged lockdowns which resulted in a considerable surge in buying convenience foods as consumers wer...