Meat Based FPP Market Size, Share, Growth Analysis, By Type(hot dogs and sausages, nuggets, bacon, strips), By Distribution channel(business-to-business (B2B) and business-to-consumer (B2C)), By Source(Pork, Beef & Veal, Chicken), By Region - Industry Forecast 2024-2031

Asia-Pacific held the greatest market share for meat-based FPP in 2021. Additionally, during the projection period, this regional market is anticipated to have the highest CAGR. The significant market expansion in the Asia-Pacific region is primarily attributed to rising consumer awareness of the value of diets high in protein and to the high demand for meat and its products in developing nations like China and India. Rapid urbanisation, rising wages, and shifting consumer lifestyles are further factors driving market expansion in this area, which has led to a rise in the popularity of easy ready-to-cook meat products.

North America dominated the market. Rising consumer awareness of the dangers of consuming tainted meat products and an increase in the usage of meatless meat products are both credited with driving the market growth in this area. As demand for plant-based foods, particularly plant-based, increases, it is projected that consumer perceptions of food sustainability and safety will change even more. The market in Europe is predicted to experience the quickest growth rate over the course of the forecast period due to favourable customer perceptions of vegetarian and vegan meat products as well as the application of strict laws against animal cruelty. Strategic activities by leading manufacturers include product innovation, capacity expansion, and mergers and acquisitions.