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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.
Convenience foods, encompassing ready-to-eat (RTE) and ready-to-cook (RTC) meat products, are increasingly becoming a staple in modern diets, offering quick and easy meal solutions for busy lifestyles. This surge in demand for convenience foods, particularly items like hotdogs, sausages, and packaged meat products, is largely driven by socio-economic transformations and urbanization. As consumers’ purchasing power rises and their awareness of healthy eating grows, the shift in food habits and meal patterns is fueling interest in RTE and RTC offerings.
The popularity of RTE and RTC meat products is particularly pronounced among specific demographic groups, including teenagers, working professionals, and families. These meat-based products are readily available in a variety of venues, from supermarkets and school cafeterias to restaurants and concession stands. This trend is not confined to any single region; developed nations such as the United States, Canada, Mexico, Germany, France, Italy, and China are experiencing a notable uptick in the consumption of meat-based food products.
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As hectic lifestyles and evolving dietary preferences take hold globally, the demand for RTE and RTC meat products continues to rise. Factors such as an increasing number of working women, accelerated urbanization, and a growing middle class are all contributing to this trend, making ready-to-eat foods a favored choice for many consumers.
Among the most sought-after meat-based food products are sausages, nuggets, and burger patties. The growing popularity of these items can be attributed to the widespread acceptance of hot dogs and sausages as convenient, ready-to-eat meals. Meat nuggets, in particular, are enjoyed worldwide, often prepared with minimal effort, which makes them ideal for quick meals.
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The appetite for RTC foods is also burgeoning in developing regions. In Mexico, for instance, there’s an increasing demand for high-quality ready-to-eat and ready-to-cook meat products, driven by heightened awareness and a positive shift toward convenience foods. Given that meats play a central role in Mexican cuisine, beloved dishes frequently incorporate pork, beef, and chicken.
Developed countries have also embraced this trend effectively. In Canada, for instance, consumers are increasingly turning to quick-service restaurants (QSRs) as a tasty and convenient alternative to home cooking. In our fast-paced world, the capability to order hot meals online has become essential for QSRs. According to Restaurants Canada, the commercial foodservice sector is projected to recover significantly from the pandemic’s effects, forecasting a growth to $74.6 billion in 2022, marking a 22% increase from the previous year. By 2025, the Canadian QSR market is expected to reach approximately $37.4 billion.
The rise in demand for prepared and ready-to-cook foods extends beyond individual consumers, finding traction in industries such as airlines, military, healthcare, and educational institutions. These sectors increasingly rely on convenient food solutions to meet their operational needs.
As this trend continues, the consumption of ready-to-eat products is expected to climb, further propelling the growth of the meat-based food products market. According to a recent report by Meticulous Research®, the meat-based food product market is projected to achieve a valuation of $991.58 billion by 2029, growing at a compound annual growth rate (CAGR) of 6.8% from 2022 to 2029. This growth highlights the enduring appeal and expanding market potential of 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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