Packaged Burgers Market: Global Industry Analysis and Forecast to 2020 to 2027

08/feb/2021 11:56:37 Grand View Research Contatta l'autore

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The global packaged burgers market size is expected to reach USD 5.58 billion by 2027, according to a new report by Grand View Research, Inc., expanding at a CAGR of 8.0% from 2020 to 2027. Rising demand for convenience food is the key factor driving the market. Consumers across the world have been seeking ready-to-eat and ready-to-cook foods owing to changing lifestyles, hectic schedules, and lack of time to prepare food. Furthermore, an increasing number of dual-earner households across the globe have been boosting the demand for the product.

The frozen product dominated the market with more than 80.0% share in 2019. Longer shelf life and easy to cook aspects of the frozen product have pushed the demand for the product. Producers in the industry have been offering better-for-you ingredients in order to gain traction among the consumers. In addition, products addressing the specific dietary requirements, including vegan, dairy-free, gluten-free, and high in protein, are gaining popularity among the consumers.

Veg patty-based products held over 55.0% share of the global revenue in 2019. Increasing demand for plant-based products has been fueling the growth of the veg patties over the world. With the growing concerns about the impact of food production on the environment and animal cruelty, the vegan population has been expanding over the world. As a result, demand for meat-alternative food has been rising over the years.

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The introduction of innovative meat-alternative products that offer meat-like texture, flavor, and mouthfeel experience has boosted the sales of the veg patty remarkably. In September 2019, Nestlé’s Sweet Earth Foods launched its plant-based Awesome Burger. The product delivers the texture and taste of beef and is made with yellow pea protein.

Packaged Burgers Market Report Highlights

·         Asia Pacific is expected to witness the fastest growth during forecast years with a CAGR of 10.0% from 2020 to 2027. Rising demand for ready-to-eat and ready-to-cook food in countries, including China, Japan, Australia, and India, is expected to fuel the growth of the market in the region

·         Frozen products held the largest share of more than 80.0% in 2019 owing to their longer shelf life

·         The veg patty segment accounted for more than 55.0% share of the total revenue in 2019. Rising demand for plant-based foods at the global level is expected to remain a favorable factor for the segment growth.

Packaged Burgers Market Segmentation

Grand View Research has segmented the global packaged burgers market on the basis of product, patty, distribution channel, and region:

Packaged Burgers Product Outlook (Revenue, USD Million, 2016 - 2027)

·         Frozen

·         Fresh

Packaged Burgers Patty Outlook (Revenue, USD Million, 2016 - 2027)

·         Veg

·         Non-veg

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