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The Meat-based FPP Market is projected to attain a value of $991.58 billion by 2029, with a compound annual growth rate (CAGR) of 6.8% during the forecast period from 2022 to 2029.
In today’s fast-paced world, convenience foods—specifically ready-to-eat (RTE) and ready-to-cook (RTC) meat products—are emerging as essential meal options, minimizing preparation time and effort. The rapid rise in demand for these products, which includes popular items like hotdogs, sausages, and various packaged meats, is largely attributed to socio-economic shifts and urbanization. Consumers are increasingly looking for convenient meal solutions as their buying power increases, their knowledge of healthy options expands, and their food preferences evolve.
RTE and RTC meat products are particularly favored among diverse groups, such as teenagers, single professionals, children, and the working class. These products can be found in numerous settings, including supermarkets, school cafeterias, restaurants, and concession stands. This growing preference for convenience foods is evident in developed regions like the U.S., Canada, Mexico, Germany, France, Italy, and China, where the demand for meat-based food products continues to escalate.
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The increasing pace of life and evolving dietary habits are significant factors driving global demand for RTE and RTC meat offerings. An influx of working women, urban migration, rising incomes, and a burgeoning middle class are all contributing to a growing appetite for ready-to-eat food options.
Among the most popular meat-based food products are sausages, nuggets, and burger patties. The increasing consumption of these items reflects a broader acceptance of hot dogs and sausages as convenient meal solutions. Meat nuggets are also universally enjoyed for their ease of preparation, making them a go-to choice for quick meals.
This trend is also gaining traction in developing nations. For example, in Mexico, there’s a marked increase in the desire for RTE and RTC meat products, fueled by a greater appreciation for taste and quality. Given the significance of meat in Mexican cuisine—where pork, beef, and chicken are staples—this shift towards convenience foods is especially pronounced.
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Developed nations have successfully adapted to this trend as well. In Canada, the popularity of quick-service restaurants (QSRs) is on the rise, as consumers increasingly view them as a convenient and delicious alternative to home cooking. In our current era of rapid living, the capacity to order freshly prepared meals online is becoming a cornerstone for QSRs. As reported by Restaurants Canada, the foodservice industry in Canada is set for remarkable growth, rebounding from a decline in 2020 to an estimated $74.6 billion in 2022—a significant 22% increase over 2021. Projections indicate that QSRs could reach a market size of $37.4 billion by 2025.
Moreover, the demand for ready-to-cook and prepared foods is also rising in sectors such as airlines, military operations, healthcare facilities, and educational institutions. These industries increasingly depend on convenient food options to streamline their services.
The outlook for ready-to-eat food products appears promising, suggesting continued growth in the meat-based food product market. Meticulous Research® forecasts that the meat-based food product market will reach $991.58 billion by 2029, reflecting a compound annual growth rate (CAGR) of 6.8% from 2022 to 2029. This anticipated growth underscores the enduring demand and substantial market opportunities for convenience foods.
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Report Summary:
| Particular | Details |
| Page No. | 254 |
| Format | |
| Forecast Period | 2022–2029 |
| Base Year | 2021 |
| CAGR | 6.8% |
| Market Size (Value) | USD 991.58 Billion |
| Segments Covered | By Type
By Source
By Distribution Channel
|
| Countries/Regions Covered | North America (U.S. and Canada), Europe (Germany, Spain, France, Italy, U.K., Poland, Netherlands, Belgium, Austria, Portugal, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, Thailand, South Korea, and Rest of Asia-Pacific), Latin America (Brazil, Mexico, Argentina, and Rest of Latin America), Middle East (GCC [Saudi Arabia, UAE, Qatar, Rest of GCC] and Rest of the Middle East), and Africa. |
| Key Companies | JBS SA (Brazil), Tyson Foods, Inc. (U.S.), WH Group Limited (Hong Kong), The Kraft Heinz Company (U.S.), Hormel Foods Corporation (U.S.), Almunajem Foods (Saudi Arabia), Tanmiah Food Company (Saudi Arabia), Perdue Farms Inc. (U.S.), GCL Food Ingredients (U.K.), Park Food Manufacturing Pte Ltd (Singapore), Rosina Food Products, Inc. (U.S.), Buona Vita, Inc. (U.S.), and ARASCO (Saudi Arabia). |
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