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Meat-based FPP Market Size, By Type (Hot Dogs & Sausages, Nuggets, Meatballs, Burger Patties, Wings), By Distribution Channel (Convenience Stores, Specialty Stores, Super & Hyper Market, Online Retail Stores), Source & Global Forecast, 2023 – 2032

  • Report ID: GMI6366
  • Published Date: Aug 2023
  • Report Format: PDF

Meat-based FPP Market Size

Meat-based FPP Market size was valued at USD 540 billion in 2022 and is projected to exhibit over 6.5% CAGR from 2023 to 2032. The growing global population and rising urbanization have led to an increased demand for convenient and readily available meat-based FPPs. Moreover, the expansion of the fast-food industry and the proliferation of fast-food chains worldwide are significantly contributing to market growth.
 

Meat-based FPP Market

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According to estimates from The Barbecue Lab, there are over 826,000 restaurants and chains worldwide. Additionally, changing consumer lifestyles and busy schedules are causing a shift in preference toward quick, easy-to-prepare meat-based foods, further fueling the meat-based FPP market demand.
 

Meat-based FPP Market Growth Drivers & Restraints

The growing preference for convenient and protein-rich food options, especially among urban consumers, is one of the main factors propelling the demand for meat-based FPP. Additionally, aggressive marketing strategies, product innovations, and expanding distribution networks will contribute to industry expansion.
 

However, the growing awareness of health and environmental concerns related to meat consumption is leading to a shift towards plant-based alternatives, which may assert an adverse impact on the market forecast. Stringent government regulations and fluctuations in raw material costs may also impede market growth and profitability.
 

COVID-19 Impact

The COVID-19 pandemic's effects led to significant alterations and changes in the meat-based FPP market. The outbreak had an effect on consumer behavior across numerous industries, but most noticeably in the food industry, which ultimately led to disruptions in the worldwide supply chain. When the pandemic first started, there was an increase in demand for meat-based FPPs because people were storing and buying in a panic as they looked for long-lasting and wholesome food options. Restaurant and foodservice establishment closures and reduced operations as a result of the pandemic's prolonged duration also affected the demand for FPPs in those industries, creating issues for manufacturers and suppliers.
 

Meat-based FPP Market Trends

The notable surge in demand for healthier and cleaner-label meat products is emerging as a key industry trend, with consumers seeking options free from additives, preservatives, and artificial ingredients. In addition, the rise of flexitarian lifestyles is driving the development of hybrid meat and plant-based products to cater to consumers looking for more sustainable choices. Personalized and premium offerings, such as organic, grass-fed, and ethically sourced meats, are also gaining popularity, reflecting a growing focus on quality and transparency.  
 

In June 2023, BJ's Wholesale Club and Schnucks Markets teamed up with Verde Farms to offer 100% grass-fed and organic refrigerated burger patties. This partnership builds on the increasing demand for sustainable and healthier food options and highlights Verde Farms’ commitment to meeting this need by providing top-notch, organic meat products that promote a healthy lifestyle. Additionally, convenience remains a priority for consumers, further stimulating demand for pre-cooked and ready-to-eat meat-based further-processed products.
 

Meat-based FPP Market Analysis

Meat-based FPP Market Size, By  Distribution Channel

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Meat-based FPP market value from the convenience stores application segment will register substantial revenue by 2032, due to shifting consumer preferences and evolving lifestyles. Convenience stores offer ready-to-eat and on-the-go meat-based FPP options that cater to busy individuals seeking quick and easy meals. The growing number of urban dwellers and commuters also rely on convenience stores as accessible food outlets. Additionally, strategic product placement, attractive packaging, and promotional offers will further encourage impulse purchases, and contribute to the rise in sales of meat-based further-processed products from convenience stores.
 

Global Meat-based FPP Market, Revenue Share, By Source,

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The chicken source segment held over 32% of the meat-based FPP market share in 2022, as chicken is a widely accepted and preferred protein source among consumers globally, owing to its relatively lower cost compared to other meats like beef or lamb. As per statistics from a 2022 WATT Global Media survey, 88% of adults in the United States said that they consume meals prepared with fresh chicken at least once each week. 
 

Chicken is considered a healthier option due to its lower fat content and higher protein levels. Additionally, its versatile nature allows for various culinary applications, making it a popular choice in different cuisines. The perception of chicken as a more sustainable meat option will thus contribute to its growing demand among environmentally conscious consumers and influence the market dynamics.
 

North America Meat-based FPP Market, Size,

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North America meat-based FPP market size dominated around USD 126 billion in 2022, owing to the increasing population with a strong appetite for meat products. Meat consumption in the region has continued to rise steadily over the past few years. According to estimates from the USDA, an average of 227 pounds of meat, including beef, poultry, and pork were consumed in the US in 2022.
 

Additionally, the rise in popularity of animal-based protein diets, such as paleo and keto, is also contributing to the increased demand for meat-based FPP. The convenience, accessibility and affordability of meat-based FPP compared to fresh meat is also a driving factor for their demand across the North American region.
 

Meat-based FPP Market Share

Prominent participants operating across the meat-based FPP market include:

  • Tyson Foods
  • Hormel Foods Corporation
  • Smithfield Foods
  • JBS S.A
  • Perdue Farms
  • Cargill
  • ConAgra Brands
  • Danish Crown
  • OSI Group
  • NH Foods Ltd
  • BRF S.A.

These companies concentrate on strategic partnerships, new product launches, and commercialization efforts for market growth. Furthermore, they make huge investments in research & development to launch advanced products and gain maximum market revenue.
 

Meat-based FPP Industry News

  • November 2022 - U.S.-based Smithfield Foods’s subsidiary, Smithfield Europe announced a new acqisition agreement with Goodies Meat Production SRL, a Romania-based company focused on the production of packaged private-label meat products, including salami, ham, bacon, baloney, and other meat specialties for retail distribution. The acquisition was part of Smithfield Europe’s strategic growth plan and is aimed at facilitating vertical integration and expanding production capacity.
     
  • November 2022 - Danish Crown announced an investment of over USD 129 million for the establishment of a new 30,500 sq. m facility in Rochdale, Greater Manchester, to provide sustainably produced, high quality, traceable pork products for consumers across the UK. The facility will be equipped with sophisticated processing technology and highly automated production equipment for slicing and packing gammon and bacon as per UK food safety and welfare standards.
     

The meat-based FPP market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue (USD Billion) & volume (Kilo Tons) from 2018 to 2032, for the following segments:

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Market, By Type

  • Hot Dogs & Sausages
  • Nuggets
  • Meatballs
  • Burger Patties
  • Wings
  • Other Meat-based FPP

Market, By Source

  • Pork
  • Beef & Veal
  • Chicken
  • Mutton
  • Other

Market, By Distribution Channel

  • Convenience Stores
  • Specialty Stores
  • Super & Hyper Market
  • Online Retail Stores
  • Other

The above information has been provided for the following regions and countries:

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Spain
    • Italy
  • Asia Pacific
    • China
    • Japan
    • India
    • Australia
    • South Korea
    • Indonesia
    • Malaysia 
  • Latin America
    • Brazil
    • Mexico
    • Argentina
  • Middle East & Africa
    • South Africa
    • Saudi Arabia
    • UAE
    • Egypt

 

Authors: Kiran Pulidindi, Kunal Ahuja

Frequently Asked Questions (FAQ) :

The market size of meat-based FPP was worth USD 540 billion in 2022 and is set to grow at over 6.5% CAGR from 2023 to 2032, on account of the growing global population and rising urbanization which have led to an increased demand for convenient and readily available processed meats.
The chicken source segment held 32% share of the meat-based FPP industry in 2022, as chicken is a widely accepted and preferred protein source among consumers globally, owing to its relatively lower cost compared to other meats like beef or lamb.
North America market size was more than USD 126 billion in 2022, owing to the increasing population with a strong appetite for meat products.
Tyson Foods, Inc., Hormel Foods Corporation, Smithfield Foods, Inc., JBS S.A, Perdue Farms, Cargill, ConAgra Brands, Danish Crown, OSI Group, NH Foods Ltd., and BRF S.A are among the key players in the market.

Meat-based FPP Market Scope

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Premium Report Details

  • Base Year: 2022
  • Companies covered: 15
  • Tables & Figures: 190
  • Countries covered: 20
  • Pages: 150
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