According to a new market report by Meticulous Research®, the global market for Meat-based Further Processed Products (FPP) Market is expected to reach $991.58 billion by 2029, registering a CAGR of 6.8% from 2022 to 2029. The report titled *“Meat-based Further Processed Products (FPP) Market by Type, Source, and Distribution Channel - Global Forecast to 2029,”* outlines key drivers, challenges, and opportunities in the sector.
The rising demand for protein-rich diets and increasing consumption of animal-based food products are the primary growth factors. Additionally, the market for ready-to-eat (RTE) and ready-to-cook (RTC) meat products is on the rise, driven by busier lifestyles and the need for convenient meal options.
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The segmentation of the market includes various types, sources, and distribution channels. Among product types, hot dogs and sausages are the most popular, benefiting from consumer preferences for quick and easy meal solutions. The subsegments of hot dogs and sausages include pepperoni & salami, mortadella, and others, with pepperoni & salami dominating the category in 2022.
On the basis of source, chicken is expected to witness the fastest growth, thanks to increased chicken production and technological advancements in poultry processing. Pork and beef & veal are other significant segments within this category.
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In terms of distribution channels, the business-to-business (B2B) sector, serving hotels, restaurants, and other food service providers, commands the largest share. However, the business-to-consumer (B2C) segment is projected to grow at a faster rate, particularly in modern grocery outlets and online retail platforms.
Asia-Pacific is expected to lead the global meat-based FPP market. Countries like China and India, with their growing middle class and increasing awareness of protein-rich diets, are driving demand for meat products. The region is forecasted to see the highest growth during the forecast period due to urbanization and rising consumer incomes.
Key Players
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).
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Key Questions Answered in the Report:
- What is the current value of revenue generated from 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 were the impacts of the COVID-19 pandemic on the meat-based FPP market?
- Which segments in terms of type, source, and distribution channel are expected to 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?
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