The global packaged burgers market size was valued at USD 5.1 billion in 2020 and is expected reach USD 9 billiion grow at a compound annual growth rate (CAGR) of 8.5% from 2020 to 2027. Increasing demand for convenience food across the world has been fueling market growth.
Rapid urbanization, changing lifestyles, shifting food consumption behavior, and hectic schedules of the consumers have been boosting the sales of various ready-to-eat foods, such as packaged burgers. With the rising demand for ready-to-cook and ready-to-eat meal products, demand for the product has been witnessing significant growth in the urban areas, where the working population finds less time to cook meals. Long shelf life and easy to cook features of the product are pushing the demand among the consumers. As a result, several companies are offering innovative products using sustainable packaging, organic ingredients, and single-serving food products. Aggressive promotions and marketing strategies are expected to boost the growth of the market over the forecast period. However, the presence of preservatives in the products may restrict the reach of packaged burgers to health-conscious consumers. The exposure to diverse cultures and cuisines, increased spending on food owing to higher purchasing power, and the lack of time to prepare food at home are the key factors driving the demand for convenience foods, and thus fueling the market growth. In addition, an increasing number of dual-income households across the world have been boosting product demand.
Frozen packaged burgers held the largest share of more than 80.0% in 2020. Among the frozen fast foods, burgers are the second most favoured after frozen pizza. The frozen products have gained remarkable popularity owing to their longer shelf life. These products usually can last for six to eight months in the freezer. Meat-based products such as beef and turkey burgers are the most common options of frozen products. However, with the increasing demand for vegan products, the plant-based frozen packaged burger is gaining shelf space over the years.
Supermarkets and hypermarkets accounted for the largest share of more than 50.0% in 2020. The availability of a wide array of products discounted prices, and convenience of getting everything at one place are the key factors driving the product sales through this distribution channel across the world. As a result, producers in the packaged burger industry have been focusing on retail expansion by selling their foods through nationwide supermarket and hypermarket chains.
Veg patty-based packaged burger held more than 55.0% share of the global revenue in 2020. Consumers across the world have been changing their eating habits to reduce the negative impact on the environment. As a result, a large number of consumers have switched to plant-based food from meat-based food. With the increasing availability of the plant-based or vegan packaged burgers, the sales of the product have surged notably over the past few years.
The package burgers market is segmented on the basis of product, patty, distribution channel and region. By product the market is divided into Frozen, Fresh. By patty the market is divided into Veg, Non-veg. By distribution channel the market is divided into Supermarkets & Hypermarkets, Convenience Stores, Online, Others.
Europe held the largest share of over 40.0% in 2020. Processed food is one of the leading trends in the region. Consumers of this region are seeking for sustainable food production, healthy diets, transparency, food safety, and convenience. Considering the growing trend, many producers have started redefining foods and catering to healthier options for health-conscious consumers. Several companies have been offering whole-grain bread, along with the access to the vegan options to the buyers.
Asia Pacific is expected to witness the fastest growth during forecast years with a CAGR of 10.0% from 2020 to 2027. China, Australia, Japan, South Korea, Hong Kong, Singapore, and India are the prominent markets that are likely to pose a wide growth opportunity for the market in the upcoming years. Competitors including Impossible Foods Inc. have been expanding their reach in the region. Some regional players such as Otsuka Foods are also gaining traction in the region by introducing plant-based packaged burgers.
Beyond Meat; BUBBA foods, LLC; Kellogg’s; The Kraft Heinz Company; Nestlé; Paragon Quality Foods; Impossible Foods Inc.; Cremonini S.p.A.; DR. PRAEGER'S SENSIBLE FOODS; Premium Brands Holdings Corporation.
Report : Packaged Burgers Market - Product (Frozen, Fresh) By Patty (Veg, Non-veg) By Distribution Channel (SuperMarkets & HyperMarkets, Convenience Stores, Online, Others) Regional (North America, Europe, Asia Pacific, Central & South America, Middle East & Africa) - Industry Analysis, Opportunity and Forecast 2020 To 2027