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Meat-based FPP Market Trends

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

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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.

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.