Global Pates Market is valued at approximately USD 1.14 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 1.30% over the forecast period 2022-2029. Pates are typically made from poultry, pork, seasoned ground meat, vegetables, spices and liver or other parts of pork, chicken, fish and other animals. Pates are high in iron, vitamin A and vitamin B-12 all of which help to build immune systems. The Pates market is expanding because of factors such as rising numbers of meat eaters and growing the hospitality industry. However, the foremost key factor driving is increase in the number of meat eaters due to the increasing the market demand for pates over the world. Moreover, another key factor is increasing the hospitality industry as introduces the consumer to cuisines due to increasing market growth of pates over the world.
According to Statista, the market value of meat in the year 2021 is USD 897.5 billion and the expected market value of meat in the year 2027 is USD 1300 billion. Moreover, another key factor driving is growth the hospitality industry. For instance, according to Statista, the market size of the hospitality industry in the year 2020 is USD 3486.77 billion and the market size of the hospitality industry in the year 2021 is USD 4132.5 billion. The opportunity of the pates market is the introduction of new ingredients such as cheese, herbs and many more which boost the market over the forecast period. However, the high cost of Pates stifles market growth throughout the forecast period of 2022-2029.
The key regions considered for the Global Pates Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. Europe dominated the market in terms of revenue, owing to the dominance of owing to high consumption of pates, the growing popularity of meat eaters which boost the market demand over the world. Asia Pacific is expected to grow with the highest CAGRduring the forecast period, owing to factors such as growing adoption of western food, rising disposable income growing number of restaurants would create lucrative growth prospects for the Pates market across the Asia Pacific region.
Major market players included in this report are:
Patchwork Traditional Rods
Braehead Foods Ltd
Kinsale Bay Foods Company
Danhull Prepared Foods Ltd
Waitrose & Partners
Morrison Supermarkets Limited
J Sainsbury PLC
Recent Developments in the Market:
In June 2021, Plantcraft, Plant-based deli meat start-up has announced the launch of its two new vegan plates. The Los Angeles-based organic grocery company Erewhon offers it in US retail. Nuts, gluten, soy, dairy, cereals, eggs, additives, preservatives, and artificial ingredients are all absent from the items.
Global Pates Market Report Scope:
Historical Data: 2019-2020-2021
Base Year for Estimation: 2021
Forecast period: 2022-2029
Report Coverage: Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered: Product, Region
Regional Scope: North America; Europe; Asia Pacific; Latin America; Rest of the World
Customization Scope: Free report customization (equivalent up to 8 analyst's working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Rest of the World