Convenience foods, which include ready-to-eat (RTE) and ready-to-cook (RTC) meat products, are food products that need less time and effort for preparation. The demand for convenience foods, including hotdogs & sausages, and packaged meat products, is increasing rapidly due to socio-economic changes and urbanization. In addition, consumers’ rising buying power, growing awareness regarding healthy foods, and changing food habits and meal patterns drive the demand for RTE and RTC food products.
Moreover, RTE & RTC meat products are steadily gaining popularity among teenagers, bachelors, children, and the working-class population. Meat-based products are served at locations including supermarkets & school cafeterias, restaurants, and concession stands. This shift towards convenience foods in developed countries such as the U.S., Canada, Mexico, Germany, France, Italy, and China, is expected to drive the demand for meat-based FPP.
Hectic lifestyles and the changing dietary habits of individuals are propelling the demand for ready-to-eat (RTE) and ready-to-cook (RTC) meat products globally. The increasing number of working women, rapid urbanization, rising per capita incomes, changing lifestyles, and high growth in the middle-income population drive the demand for ready-to-eat foods.
Sausages, nuggets, and burger patties, among others, are the most consumed meat-based FPP products. The growing demand for these products is attributed to the growing popularity of hot dogs and sausages as ready-to-eat food. Also, meat nuggets are relished throughout the world. Usually, these are ready-to-cook/eat products with simple preparation, making them a popular choice of consumers for a quick meal.
Also, the increasing demand for RTC foods has gained popularity in developing countries. For instance, in Mexico, there is a growing demand for ready-to-eat and ready-to-cook meat products with better taste and quality due to the increasing awareness and acceptance of convenient meat products in the country. Meats are an integral part of Mexican cuisine, and many well-loved dishes consist of pork, beef, and chicken in the country.
Moreover, developed countries have successfully adopted this trend. For instance, consumers in Canada are increasingly favoring QSRs as an easy and delicious alternative to cooking meals at home. In this era of fast-paced lifestyles, the ability to order hot and ready meals through digital space has become a crucial pillar for QSRs. According to Restaurants Canada, the Canadian commercial foodservice industry is expected to grow substantially throughout 2022 and overcome its nominal 2020 decline by $74.6 billion, a 22% increase over 2021. By 2025, QSRs are forecasted to grow to $37.4 billion in Canada.
Additionally, there has been a significant increase in the demand for ready-to-cook and prepared foods from the airline industry, labor camps, the military, hospitals, universities, schools, etc.
This trend is likely to continue in the coming years, boosting the consumption of ready-to-eat food products and driving the growth of the meat-based FPP market.
Meticulous Research®, in its latest publication on the Meat-based FPP Market, states that the meat-based FPP market is projected to reach $991.58 billion by 2029, at a CAGR of 6.8% during the forecast period of 2022–2029.
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