USD 5.38 Billion
" "
Report ID:
SQMIG30I2158 |
Region:
Global |
Published Date: April, 2024
Pages:
198
|Tables:
64
|Figures:
75
Pates Market size was valued at USD 5.62 Billion in 2023 and is poised to grow from USD 5.87 Billion in 2024 to USD 8.36 Billion by 2032, growing at a CAGR of 4.50% during the forecast period (2025-2032).
The growth of the market is attributed to shifting consumer food tastes, the adoption of western cuisines, and an increase in the consumption of processed foods. The development of this market is being accelerated by technological developments that are aimed at extending the shelf life of processed foods and providing the highest quality meat products. The expansion of the hospitality sector, which includes more restaurants and fast-food chains, has exposed customers to international cuisines. The availability and popularity of western cuisine has led to a rise in pate consumption.
Leaders in the market are emphasizing product invention by releasing a variety of meat spreads on the market. Originally made with chicken and other poultry liver, the pate is now made with beef, fish, and pig. Additionally, some producers have released vegetarian pate, which is typically composed of cheese. For instance, Pyman Pates provides a variety of meat preserves, including West Country Game, Smoked Fish, Chicken Liver, and Duck Liver.
The most popular way to eat pates in Europe is with bread and crisp toast. In major dishes like Beef Wellington, where filet steaks are spread with mushroom pate and wrapped in pastry, it is also used. Pate is a common filling for poultry breasts in another renowned dish called balltone. The most common way to eat this food item is as a spread, however due to innovation, it is also available in a loaf or in slices.
US Pates Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 5.38 Billion
Largest Segment
Chicken
Fastest Growth
Duck
Growth Rate
4.50% CAGR
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The global Pates Market is segmented on the basis of product, distribution channel, and region. Categorization by means of product segment includes chicken, fish, duck, and others. Based on distribution channel, the Pates Market is segmented into hypermarkets & supermarkets, convenience stores, specialty food stores, and online retailers. In terms of region the global pates market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.
Pates Market Analysis by Product
Chicken pate segment earned the largest share of 35.4% in 2022, due to its high protein content. Since the pate was originally made with chicken and duck innards, these meats are more well-liked and have a bigger market share. However, this food product evolved as a convenient and tasty way for companies to produce all animals.
The highest CAGR of 1.7% is expected to be generated by the duck pate from 2023 to 2030. The increase in businesses making and importing duck pate around the world is blamed for the segment's development. De Ver, for instance, provides a variety of duck pates, including duck liver pate with Sauternes, black truffles, and fine herbs.
Pates Market Analysis by Distribution Channel
The market for pates was dominated by supermarkets and hypermarkets segment in 2022. In addition to offering a larger variety of goods and brands, supermarkets and hypermarkets also offer greater brand visibility and an easier shopping experience. Additionally, supermarkets and hypermarkets place a high priority on offering their customers high-quality food items, which expands the pates industry. However, because they offer more discounts and more choices for purchases, online retailers are predicted to experience a higher CAGR of 2.25% over the forecast period of 2023–2030.
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Europe had the largest regional pates market, accounting for a proportion of more than 45.0%, due to the high consumption in this region. This region enjoys the foie because it is a traditional French dish that started in Europe. Eating meat spread on a baguette while drinking wine is a usual practice in Europe. Trends show that 68% and 25% of French people, respectively, consume it at least once per month.
Asia Pacific is anticipated to grow at the fastest CAGR of 1.9% during the forecast period. The proliferation of fast-food establishments and eateries, as well as the acceptance of western culture and cuisine, are the primary market-influencing factors in this sector. New pate flavors like vegetable, mushroom, and cheese and herbs are attracting vegetarian consumers, which is expected to push the market.
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Pates Market Drivers
Growing Demand for Convenience Foods
Increasing Awareness about Health and Nutrition
Pates Market Restraints
Health Concerns related to meat-based pates
Short Shelf Life of Pates
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The market is dominated by a few major companies, including Tesco, Waitrose & Partners, Braehead Foods Ltd., Pyman Pates, Lovefood, Kinsale Bay Foods, Dan Hull Prepared Foods, and Patchwork Traditional Rods. To keep meat quality and extend shelf life, key competitive strategies include product creation and innovation in preservatives.
Pates Market Top Player’s Company Profiles
Pates Market Recent Developments
Growing Demand for Plant-based Pates
Increasing Popularity of Gourmet Pates
Rising Demand for Convenient and Ready-to-Eat Foods
Increasing Focus on Health and Nutrition
Growing Interest in Ethnic Foods
Rise in Online Sales Channels
Increasing Demand for Low-fat and Low-sodium Pates
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyzes the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, we found that the Pates market is attributed to shifting consumer food tastes, the adoption of western cuisines, and an increase in the consumption of processed foods. The development of this market is being accelerated by technological developments that are aimed at extending the shelf life of processed foods and providing the highest quality meat products. The expansion of the hospitality sector, which includes more restaurants and fast-food chains, has exposed customers to international cuisines. The availability and popularity of western cuisine has led to a rise in pate consumption. Pates have a relatively short shelf life, which may limit their availability and distribution. This may also lead to food waste and increased costs for manufacturers. Consumers are increasingly interested in gourmet food options, and high-end pates made from premium ingredients are gaining popularity among foodies and enthusiasts.
Report Metric | Details |
---|---|
Market size value in 2022 | USD 5.38 Billion |
Market size value in 2031 | USD 8 Billion |
Growth Rate | 4.50% |
Base year | 2023 |
Forecast period | 2024–2031 |
Forecast Unit (Value) | USD Billion |
Segments covered |
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Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
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Customization scope | Free report customization with purchase. Customization includes:-
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Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Pates Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Pates Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Pates Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Pates Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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Report ID: SQMIG30I2158
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