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Rise in demand for ready-to-cook food items and change in lifestyle drive the growth of the global chilled and deli food market.
Increase in working individuals is encouraging the sales of ready-to-eat-foods, therefore boosting the growth of chilled and deli food sector.” - Allied Market ResearchPORTLAND, OR, US, June 18, 2023/einpresswire.com / -- Rise in demand for ready-to-cook food items and change in lifestyle drive the growth of the global chilled and deli food market . However, use of nitrates and nitrites in deli food products causes cardiovascular problems, which in turn, hampers the market growth. On the contrary, surge in middle-class population, economic growth, and urbanization would open new opportunities in the future.
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The global chilled and deli food market size was valued at $888,628.0 million in 2020, and is projected to reach $1,639,968 million by 2031, registering a CAGR of 4.2% from 2022 to 2031. In 2021, the pies & savory appetizers segment accounted for approximately 28% of the global market in terms of value.
Top Key Players:
The players operating in the global chilled and deli food market have adopted various developmental strategies to expand their chilled and deli food market share, increase profitability, and remain competitive in the market. The key players profiled in this report include Astral Foods Ltd., BRF S.A., Hormel Foods Corporation, JBS S.A., Samworth Brothers Limited, The Kraft Heinz Company, Tyson Foods, Inc, Waitrose & Partners, Wm Morrison Supermarkets, and 2 Sisters Food Group
Veganism is becoming more popular, and customers are gravitating toward it. Processed and deli meat producers are seizing the opportunity and releasing new plant-based meat versions to the market. For example, Maple Leaf Foods, Inc.a leading plant-based meat brand, developed a range of plant-based meat products in 2021 to captivate consumers and meet market demand. On the other side, when health-conscious customers become more aware of the disadvantages of ingesting meat, they are more likely to switch to plant-based meat. The growth in vegan population, as well as firms developing new plant-based meat product lines, is impeding the expansion of the chilled and deli food sector.
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In terms of value, Asia-Pacific and LAMEA collectively contributed approximately 14% share of the global market in 2021.The developing countries, such as Brazil, India, and China display a huge growth potential for this market on account of high disposable income, decent number of millennial population preferring the consumption of convenience foods, and surge in the number of food service outlets in these countries.
Key Findings Of The Study
On the basis of chilled and deli food market analysis for region, North America accounted for the largest revenue share of the global market, registering a significant CAGR from 2022 to 2031, followed by Europe.
On the basis of chilled and deli food market trends in 2021, the hypermarkets/supermarkets in distribution channel segment accounted for approximately 25% share, in terms of value, and is expected to grow at the highest CAGR of 4.4%.
Asia-Pacific is anticipated to grow at the highest CAGR of 5.6% from 2022 to 2031 in the chilled and deli food market forecast period.
In 2021, the U.S. generated the highest revenue, accounting for approximately 27% share of the global market.
Brazil is anticipated to grow at a significant CAGR of 2.6% during the forecast period.
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The online channel segment to manifest the highest CAGR through 2030
By distribution channel, the online channel segment would showcase the highest CAGR of 5.8% from 2022 to 2031, due to rise in association of internet and e-shopping with consumers in developing region. However, the food service outlets segment held the largest share in 2020, contributing to around one-third of the global chilled and deli food market, owing to rise in availability of deli food products around the globe.
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