Pates Market - Forecast(2024 - 2030)

The pates market size to be valued at USD 2.2 billion by 2030 and is expected to grow at a compound annual growth rate (CAGR) of 2.3% during the forecast period. Infrastructure development and construction projects are key drivers of demand for various types of plates, such as steel, aluminum, and composite plates. As urbanization accelerates and populations expand, the need for modernized infrastructure becomes increasingly pressing. Governments worldwide are investing heavily in infrastructure initiatives, including the construction of roads, bridges, buildings, and industrial facilities, to support economic growth and meet the demands of growing populations. These projects require a wide range of materials, with plates playing a crucial role in structural components, reinforcing elements, and surface cladding. Steel plates are commonly used for their strength and durability in applications such as bridge construction and building frameworks. The automotive and transportation sectors rely heavily on plates for various aspects of vehicle manufacturing, encompassing body panels, chassis components, and structural reinforcements. With the automotive industry undergoing significant transformations driven by the emergence of electric vehicles (EVs) and initiatives aimed at lightweighting vehicles for improved efficiency, there is a projected surge in demand for advanced materials like high-strength steel plates, aluminum plates, and composite plates. These materials offer distinct advantages in terms of strength-to-weight ratio, corrosion resistance, and design flexibility, all of which are crucial for meeting the evolving demands of modern vehicle design. High-strength steel plates are essential for enhancing structural integrity and safety features in vehicles, particularly in areas such as crashworthiness and occupant protection. 

The report: “Pates Market – Forecast (2024-2030)”, by IndustryARC, covers an in-depth analysis of the following segments of the Pates Market

By Product Type: Duck, Chicken, Fish, and Others.

By Distribution Channel: Supermarket/Hypermarket, Convenience Store, Specialty Store, Online Retailers and Others.

By Geography: North America (U.S., Canada, Mexico), Europe (Germany, U.K., France, Italy, Spain, Russia, and Rest of Europe), Asia Pacific (China, Japan India, South Korea, Australia, and New Zealand, and Rest of Asia Pacific), South America (Brazil, Argentina, and Rest of South America), and Rest of the World (Middle East, and Africa)

•Europe dominated the Pates Market in 2023 owing to rising number of food chains and restaurants in this region. The Pates Market scope for different regions will be provided in the final report.

•Increasing adoption of western cuisines is set to aid the market growth of the Pates Market report.

•Detailed analysis of the Strength, Weakness, and Opportunities of the prominent players operating in the market will be provided in the Pates Market report.

•High price of pates is poised to create the hurdles for the Pates Market. 

Based on product type, the Pates market is segmented into Duck, Chicken, Fish, and Others. Chicken segment held the largest share in the pates market in 2023. Chicken pates made of chicken liver with high nutrient contents. Chicken livers are high in vitamin C, which is uncommon in meats, and contain all of the amino acids required for protein synthesis. Also, it contains large amount of protein thereby increasing Pates market. However, Duck is estimated to register higher CAGR of 3.34% during the forecast period 2024-2030 owing to growing number of duck pates producers across the globe and availability of duck pates with many flavors.

On the basis of distribution channel market for Pates is categorized in Supermarket/Hypermarket, Convenience Store, Specialty Store, Online Retailers and Others. Supermarket/Hypermarket held the largest share in the pates market in 2023. Supermarkets/Hypermarkets provide better brand visibility, an easier shopping experience, and a wider selection of products and brands. Also Supermarkets/Hypermarkets are focused on to provide quality of food products to its consumers thereby increasing pates market. However, Online retailers is estimated to register higher CAGR of 3.25% during the forecast period 2024-2030 owing to it provides more discounts and wider options to purchase.

Europe dominated the Pates market with a major share of 42% in 2023 This is attributed to growing consumption and popularity of pates among consumers in this region. Pate is a traditional French dish that originated in Europe, resulting in its widespread popularity in this region. Furthermore, changing lifestyle of the people and rising disposable income of consumers which are contributing to the growth of the market in this region.

However, Asia Pacific is estimated to grow at a higher CAGR during the forecast period 2024-2030 owing to rising adoption of western cuisines in this region contribute the growth in this region. Growing food and beverage industry in this region coupled with increasing consumption of processed food products in this region is also increasing the growth of the market in this region.

 

Increasing product innovation by key players of pates such as introduction of new flavors is increasing the growth of the Pates Market. Introduction of new flavors such as vegetable, mushrooms, cheese and herbs that attracts vegetarian consumers and innovation in preservatives by key players to improve meat quality and extend shelf life. Additionally, growing advancement in technology that focused on extending the shelf life of processed food is also practiced to increase the growth of the Pates market during the forecast period 2024-2030.

Increasing awareness about nutritional benefit of pates among consumers is increasing the growth of the Pates market. Pates contain high nutrient such as Vitamin B12, Vitamin C, Vitamin A, Copper, and others. Also it is rich in essential fatty acid and protein which provides health benefits to consumers thereby increasing the growth of the Pates Market during the forecast period 2024-2030.

Pates Market Challenges

Side effects

Major factor that is set to impede the growth of the Pates market is side effects of Pates as it is high in cholesterol that will increases blood cholesterol level which leads to cardiovascular diseases. Another factor which hamper the growth of market is high price of pates.

Product launches, mergers and acquisitions, joint ventures, and R&D activities are key strategies adopted by players in the Pates Market. In 2023, the Pates Market share is consolidated by the top ten players present in the market. The key companies in the Pates Market are Argeta, Patchwork Traditional Foods, Waitrose & Partners, Eatsman Foods, Danhull Prepared Foods, Kinsale Bay Foods, Lab Farm Foods, Alexian Pates, Henaff, and Rougie