According to a new report published by Allied Market Research, titled, “Chilled and Deli Food Market by Product Type, Packaging, and Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2022–2031” 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.
Chilled and deli cuisine are ready-to-eat items that can be consumed quickly and kept at a low temperature. The global chilled and deli food industry is likely to expand significantly in the future due to increase in demand for ready-to-eat foods. Chilled and deli food has become an essential component of the customers’ lives. Furthermore, change in lifestyle demographics is a driving element in the chilled and deli food market growth.
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Blockchain technology in the meat sector is a game-changer for both manufacturers and consumers. Users may utilize blockchain for fresh meat and deli food products to record and track data, such as health protocols, performance metrics, present locations, and progress across the supply chain. The option to personalize data flow between buyer and seller is unique to the platform. This feature assists the user in learning more about the product and gaining a better understanding of it. In times of uncertainty, blockchain technology encourages consumers to choose the best deli food and meat product and provide chilled and deli food market opportunities for growth.
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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Deli meats are ready-to-eat meat or poultry products. The majority of the deli meats are cured meat, chemical additives are added to the meat to extend the shelf life and to eradicate the growth of microorganisms. A single serving of cured meat contains 500mcg of nitrates. Potassium nitrate and sodium nitrite are the most commonly used curing agents, and they assist in maintaining the redness and color of the meat. Nitrates in the meat change into nitric oxide in the body. Nitric oxide dilates the blood vessel and lowers the blood pressure. According to the American Journal of Clinical Nutrition, nitrate is a potential producer of carcinogenic nitrosamines; nitrosamines are produced when cured meat products are heated to high temperatures (over 266°F or 130°C), such as frying or grilling the meat. Nitrosamines are linked to esophageal cancer, gastric cancer, colorectal cancer, and heart problems. Consumers are gaining knowledge about the negative effects related to the consumption of cured meats. As a result, customers are migrating away from cured meat products to fresh cuts of meat that are devoid of curing agents and additives.
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.
The chilled and deli food market segments are on the basis of product type, packaging, distribution channel, and region. On the basis of product type, the market is segmented into meats, pies & savory appetizers, pre-packed sandwiches, prepared salads, and others. By packaging, the market is segmented into tins, cans, plastic packs, cardboard, and others. On the basis of distribution channel, the market is segmented into hypermarkets/supermarkets, convenience stores, specialty stores, food service outlets, online channel, and others. Region wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (UK, Germany, France, Italy, Russia, Spain, and rest of Europe), Asia-Pacific (China, Japan, India, Australia, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, Saudi Arabia, South Africa, and rest of LAMEA).
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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.
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.
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