According to a report, “Chilled & Deli Foods Market Size, Share & Trends Analysis Report By Products (Meat, Savory Appetizers, Prepared Salads, Pre-Packaged Products, Sauces, Condiments & Dressings), And Segment Forecasts, 2019 – 2025”, published by Grand View Research, Inc., The global chilled & deli foods market size is likely to reach USD 267.70 billion by 2025, exhibiting a CAGR of 5.2% during the forecast period.The popularity of these products is largely associated with their ease of preparation, storage, and availability in retail outlets, which is expected to influence the global consumption patterns over the forecast years. Chilled & deli foods are among promising segments in the food & beverage sector with its increasing acceptance among consumers since the available product range caters to a wide range of requirements such as Kosher and organic. Moreover, staple food is also readily available as a frozen meal wherein, advancements in packaging have increased the convenience of such type of meals.
Key Takeaways from the report:
In terms of product, the pre-packaged products segment was valued at USD 40.54 billion in 2017. It is expected to expand at a CAGR of 5.8% over the forecast period
Central & South America is projected to witness a growth rate of 4.3% over the forecast period, owing to increasing number of food retail chains in countries including Brazil, Venezuela, and Argentina
Asia Pacific offers growing investment opportunities for chilled and deli food manufacturers, driven by high-potential customer base in the region
Countries in APAC, especially India and China, are expected to observe remarkable growth during the forecast period. The overall region is expected to progress at a CAGR of 5.8%, primarily as a result of rising demand for exquisite chilled and deli foods
Some of the key companies present in the market are Tyson Foods, Inc, Cargill Meat Solutions, Arthur’s Food Company, Gainsborough Chilled Foods Ltd, Ready Pac, and Winterbotham Derby.
Concerns among buyers regarding adverse health effects caused due to degradation of ready foodstuffs have been rising, thereby leading to increased requirement for maintaining freshness of products such as bread rolls, frozen desserts, and chocolates for a longer duration. Increasing requirement for baked goods and confectioneries in light of new product launches in frozen desserts and liquor chocolates is expected to fuel the demand for chilled & deli foods over the forecast period.
With increasing number of working-class population and changing lifestyles, retail stores are emphasizing on altering present state of display and focusing on products that have greater shelf life and capable of retaining quality while kept frozen. In emerging markets in Latin America, Southeast Asia, and Eastern Europe, relatively buoyant income growth is translating into greater affordability and inclination towards new goods and services.
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Craft Beer Market: The government in countries including Australia, New Zealand, Belgium, Mexico, China, and the UK are promoting the production of craft beer and incorporation of new breweries on account of the positive contribution of the industry towards economic development and employment generation coupled with the willingness of the consumer to pay extra for better tasting brews.
Dairy Ingredients Market: The rising demand for dairy products in emerging markets including China and India as a result of product innovation by companies including Nestlé is expected to promote usage of milk powder as a functional ingredient. Rising importance of frozen bakery goods as a result of new product launches by companies including ABF is expected to promote the use of milk powder further over the forecast period.
Chilled & deli foods are among promising segments in the food & beverage sector with its increasing acceptance among consumers since the available product range caters to a wide range of requirements such as Kosher and organic. Moreover, staple food is also readily available as a frozen meal wherein, advancements in packaging have increased the convenience of such type of meals.
The demand for savory appetizers in the market is primarily driven by tastes and variety. While North America and Europe are the largest regions in terms of consumption, growth in these regions is lower than in the largely developing regions. Asia Pacific is poised to offer tremendous growth opportunities owing to increment in consumption per capita and increasing population catering to global supplies. Widening base of middle class population is also playing a pivotal role in the development of the regional market. The same is true in Africa, although the growth trajectory for savory is still lower than Asia Pacific currently.
The distribution channel for chilled & deli foods is largely pivoted to supermarkets & hypermarkets, convenient stores, specialty stores, and e-commerce portals capable of catering to a large consumer base. Some of the distribution channels involved in the marketing of chilled & deli foods are Waitrose Limited, Kroger, Walmart, Godrej Natural Baskets, and Wesfarmers Limited. E-commerce portals such as Big Basket, Graze, Raw to Door, and Planet Organic have been gradually gaining acceptance among new-age consumers over the past few years.
Grand View Research has segmented the global chilled & deli foods market on the basis of product and region:
Chilled & Deli Foods Product Outlook (Revenue, USD Billion, 2014 – 2025)
Meat
Savory Appetizers
Prepared Salads
Pre-Packaged products
Sauces, Condiments & Dressings
Others
Chilled & Deli Foods Regional Outlook (Revenue, USD Billion, 2014 – 2025)
North America
U.S.
Mexico
Europe
Germany
U.K.
Asia Pacific
China
India
Central & South America
Brazil
Argentina
Middle east & Africa
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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