Preheat oven to 350°F. In a large bowl, combine roasted red peppers, bread crumbs, egg product, tomato sauce, basil, parsley, salt, pepper. Add ground beef; mix well. Shape meat mixture into 48 meatballs. Place meatballs in a foil-lined 15x10x1-inch baking pan. Bake about 20 minutes or until done (160°F).
Storage: Reserved cooked meatballs can be stored in an airtight container in the refrigerator for up to 3 days or in the freezer for up to 3 months.
Use these meatballs to make Mediterranean Pita Melts or Meatball Lasagna (see associated recipes).