Chilled food and delicatessen market

The market is expected to grow at a compound annual growth rate of 4.2% from 2022 to 2031, with Asia Pacific expected to witness the highest growth.

WILMINGTON, NEW CASTLE, DELAWARE, UNITED STATES, August 29, 2024 /EINPresswire.com/ – According to a new report by Allied Market Research, titled “Chilled Food and Delicatessen Market by Product Type, Packaging and Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2022-2031”, the global chilled food and deli market size was valued at US$ 888,628.0 million in 2020 and is projected to reach US$ 1,639,968 million by 2031, growing at a compound annual growth rate of 4.2% from 2022 to 2031. In 2021, the cakes and savory appetizers segment accounted for approximately 28% of the global market in terms of value.

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Chilled food and delicatessen are ready-to-eat foods that can be consumed quickly and stored at low temperature. The global chilled food and delicatessen industry is expected to grow significantly in the future due to the increasing demand for ready-to-eat foods. Chilled food and delicatessen have become an essential part of consumers’ lives. Moreover, demographic changes in lifestyle are a driving factor for the growth of the chilled food and delicatessen market.

Blockchain technology in the meat sector is crucial for producers and consumers alike. Users can use blockchain for fresh meat and deli products to record and track data such as health records, performance metrics, current locations and progress along the supply chain. The ability to personalize the data flow between buyer and seller is unique to the platform. This feature helps the user learn more about the product and understand it better. In times of uncertainty, blockchain technology encourages consumers to choose the best deli and meat products and provides growth opportunities to the chilled food and deli market.

Veganism is becoming increasingly popular and customers are leaning towards it. Processed meat and deli manufacturers are seizing the opportunity and launching new plant-based meat variants. For example, Maple Leaf Foods, Inc., a leading plant-based meat brand, developed a range of plant-based meat products in 2021 to excite consumers and meet market demand. On the other hand, health-conscious customers are more likely to switch to plant-based meat as they become more aware of the drawbacks of meat consumption. The growth of the vegan population as well as companies developing new plant-based meat product lines are hampering the expansion of the chilled food and deli sector.

Cured meats are ready-to-eat meat or poultry products. Most cured meats are cured, with chemical additives added to the meat to extend shelf life and prevent the growth of microorganisms. A serving of cured meat contains 500 mcg of nitrates. Potassium nitrate and sodium nitrite are the most commonly used curing agents and help maintain the redness and color of the meat. Nitrates in meat are converted to nitric oxide in the body. Nitric oxide dilates blood vessels and lowers blood pressure. According to the American Journal of Clinical Nutrition, nitrate is a potential producer of carcinogenic nitrosamines; nitrosamines are formed when cured meat products are heated to high temperatures (above 266 °F or 130 °C), such as when frying or grilling the meat. Nitrosamines have been linked to esophageal cancer, stomach cancer, colon cancer, and heart problems. Consumers are becoming more aware of the negative effects of eating cured meats. As a result, customers are switching from cured meat products to fresh cuts of meat without curing agents and additives.

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In value terms, the Asia Pacific and LAMEA regions together accounted for approximately 14% of the global market in 2021. Developing countries such as Brazil, India and China have tremendous growth potential for this market due to high disposable income, a significant number of millennials who prefer to consume ready meals and the rapidly increasing number of food service establishments in these countries.

The chilled food and deli market segments are based on product type, packaging, distribution channel and region. On the basis of product type, the market is segmented into meat, pates and savoury entrees, pre-packaged sandwiches, prepared salads and others. By packaging, the market is segmented into canned food, plastic packaging, cardboard and others. On the basis of distribution channel, the market is segmented into hypermarkets/supermarkets, convenience stores, specialty stores, food service outlets, online channels and others. Regionally, the market is analyzed into North America (United States, 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).

📍𝐊𝐞𝐧 𝐅𝐢𝐧𝐝𝐢𝐧𝐠𝐬 𝐎𝐟 𝐓𝐡𝐞 𝐒𝐭𝐮𝐤𝐭𝐨𝐝𝐲

→ Based on the Chilled Food and Deli Market analysis for the region, North America accounted for the largest revenue share in the global market, registering a significant CAGR from 2022 to 2031, followed by Europe.
→ Based on the chilled food and delicatessen market trends in 2021, in the distribution channel segment, hypermarkets/supermarkets accounted for about 25% share by value and are expected to grow at the highest CAGR of 4.4%.
→ During the forecast period for the chilled food and delicatessen market, Asia Pacific is expected to witness the highest growth with a compound annual growth rate of 5.6% between 2022 and 2031.
→ In 2021, the USA had the highest sales and had a share of about 27% of the global market.
→ Brazil is expected to experience impressive average annual growth of 2.6% over the forecast period.

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The players in the global chilled and deli products market have adopted various development strategies to expand their chilled and deli products market share, increase their profitability, and remain competitive in the market. The major players profiled in this report include Astral Foods Ltd., BRF SA, Hormel Foods Corporation, JBS SA, Samworth Brothers Limited, The Kraft Heinz Company, Tyson Foods, Inc, Waitrose & Partners, Wm Morrison Supermarkets, and 2 Sisters Food Group.

📝 𝐀𝐛𝐨𝐮𝐤𝐭 𝐔𝐬

Allied Market Research (AMR) is a full-service market research and business consulting arm of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides unmatched quality “Market Research Reports” and “Business Intelligence Solutions” to global corporations, medium and small businesses. AMR has a targeted approach to provide its clients with business insights and consulting to help them make strategic business decisions and achieve sustainable growth in their respective market space.

We maintain professional business relationships with various companies, which helps us in sourcing market data that helps us in creating accurate research data tables and confirms the utmost accuracy in our market forecasts. Pawan Kumar, CEO, Allied Market Research, is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality data and help the clients succeed in every possible way. Every single piece of data presented in the reports published by us is obtained through primary interviews with top officials of leading companies in the concerned fields. Our methodology of sourcing secondary data includes extensive online and offline research and discussions with knowledgeable professionals and analysts of the industry.

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