The research report titled, “Meat-based FPP Market by Type (Hot Dogs & Sausages, Nuggets, Bacon, Strips, Meatballs, Burger Patties, Wings), Source (Pork, Beef & Veal, Chicken), Distribution Channel (Business-to-Business [B2B], Business-to-Customer [B2C]) - Global Forecast to 2029,” provides an in-depth analysis of the meat-based FPP market in five major geographies and emphasizes on the current market trends, market sizes, market shares, recent developments, and forecasts to 2029.
The meat-based FPP market is expected to record a CAGR of 6.8% from 2022–2029 to reach $991.58 billion by 2029.
The growth of the meat-based FPP market is driven by factors such as growing demand for protein-rich diets, increasing demand for animal-based food products, and the rising consumption of ready-to-eat (RTE) and ready-to-cook (RTC) food products. However, growing awareness about the benefits of meat alternatives and the carcinogenic effects of processed meat are expected to restrain the growth of this market.
The meat-based FPP market is segmented into by type (hot dogs & sausages [pepperoni & salami, mortadella, and others] nuggets, bacon, strips, meatballs, burger patties, wings, and other meat-based FPP products); source (pork, beef & veal, chicken, mutton & lamb, other sources); distribution channel (business-to-business (B2B), business-to-consumer (B2C) [modern groceries, convenience stores, specialty stores, online retail stores, other B2C distribution channels]); and geography. The study also evaluates industry competitors and analyzes the market at the regional and country levels.
Based on type, the meat-based FPP market is segmented into hot dogs & sausages, nuggets, bacon, strips, meatballs, burger, patties, wings, and other meats-based FPP. The hot dogs & sausages segment is expected to grow at the highest CAGR during the forecast period. The high growth is mainly attributed to the growing popularity of hot dogs and sausage as ready-to-eat food, increasingly busy lifestyles of the working class, increasing product launches by sausage manufacturers, and the growing frequency of major sports events. Also, the rapidly growing fast-food and ready-to-eat food industries and the increasing trend of on-the-go food products are expected to provide growth opportunities for this segment.
Based on source, the meat-based FPP market is segmented into beef & veal, pork, chicken, mutton & lamb, and other sources. In 2022, the pork segment is expected to dominate the meat-based FPP market. The dominant position of this segment is mainly attributed to the rising global population and increased meat consumption. Further, changes in the food consumption pattern of people worldwide, expansion of the retail market, and easy availability of the product through various sales channels make it convenient for consumers to purchase packaged pork meat products, which also drives the demand for pork meat in the market.
Based on distribution channel, the global meat-based FPP market is segmented into business-to-business (B2B) and business-to-consumer (B2C). The business-to-consumer (B2C) segment is expected to register the highest CAGR during the forecast period of 2022–2029. The rapid growth of this segment is attributed to factors such as the growing number of supermarkets & hypermarkets and increased overall product sales from these outlets, consumer preference for shopping from brick-and-mortar grocers due to easy access and availability, and consumers’ increasing use of e-commerce platforms for purchasing essential goods.
Based on geography, the meat-based FPP market is segmented into five major geographies: North America, Europe, Asia-Pacific, Latin America, the Middle East, and Africa. In 2022, Asia-Pacific is expected to account for the largest share of the meat-based FPP market. The large share of this region is mainly attributed to the increasing awareness regarding the importance of protein-rich diets and the strong demand for meat and meat products in developing countries, such as China and India. Moreover, rapid urbanization, rising income, and changing lifestyles in the Asia-Pacific region have resulted in consumers opting for convenient ready-to-cook meat products are expected to support the growth of this segment
The key players operating in the meat-based FPP market are 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).
Key Questions Answered in the Report-
- What is the current value of revenue generated by the meat-based FPP market?
- At what rate is the demand for meat-based FPP projected to grow for the next 5-7 years?
- What is the historical market size and growth rate for the meat-based FPP market?
- What are the major factors impacting the growth of this market at the global and regional levels? What are the major opportunities for existing players and new entrants in the market?
- What impact does the current COVID-19 pandemic have on the meat-based FPP market?
- Which segments in terms of type, source, and distribution channel create major traction for the manufacturers in this market?
- What are the key geographical trends in this market? Which regions/countries are expected to offer significant growth opportunities for the manufacturers operating in the meat-based FPP market?
- Who are the major players in the meat-based FPP market? What are their specific product offerings in this market?
- What recent developments have taken place in the meat-based FPP market? What impact have these strategic developments created on the market?
Scope of the Report:
Meat-based FPP Market, by Type
- Hot Dogs & Sausages
- Pepperoni & Salami
- Burger Patties
- Other Meat-based FPP Products
Meat-based FPP Market, by Source
- Beef & Veal
- Mutton & Lamb
- Other Sources
Meat-based FPP Market, by Distribution Channel
- Modern Groceries
- Convenience Stores
- Specialty Stores
- Online Retail Stores
- Other B2C Distribution Channel
Meat-based FPP Market, by Geography
- Asia-Pacific (APAC)
- South Korea
- Rest of APAC (RoAPAC)
- Rest of Europe (RoE)
- Latin America
- Rest of Latin America (RoLATAM)
- North America
- Middle East & Africa
- Saudi Arabia (KSA)
- Rest of GCC
- Rest of the Middle East