Chilled And Deli Food Market - Forecast(2023 - 2028)

Overview

The Chilled and Deli Food Market is estimated to reach $762.5 billion by 2024, growing at a CAGR of 3.8% during the forecast period 2019-2024. The growth of the chilled and deli food market is attributed to the increasing number of large retail chains, including supermarket and hypermarket. Moreover, Chilled and deli food has become an important part of the lifestyle of the major demographics because of the convenience and rising disposable incomes.

Report Coverage

The report: “Chilled and Deli Food Market – Forecast (2019-2024)”, by IndustryARC covers an in-depth analysis of the following segments of the chilled and deli food market.

•By Type

•Meat

•Pie Savoury Appetizer

•Prepacked Sandwich

•Prepared Salad

•Others 

•By Distribution Channel

•Supermarket/Hypermarket

•Online Stores

•Convenience Stores

•Others

•By End-User

•Food Service Industry

•Retail Customers

•By Geography

•North America

•Europe

•Asia-Pacific

•Rest of the World 

Key Takeaways

· Detailed analysis of the Strength, Weakness, and opportunities of the prominent players operating in the chilled and deli food market will be provided in the report.

· Key sustainability strategies such as acquisitions or partnerships are being adopted by the market players to ensure the growth of chilled and deli food market.

Further, a detailed analysis is provided in the report.

· It is evaluated that Asia Pacific is showing highest potential to become an evolving market for chilled and deli food as frozen food companies are slowing entering the market and record the fastest CAGR over the forecast period. Additional drivers, trends, and opportunities related to the APAC region are provided in the report.

 Type - Segment Analysis

Based on the type segment, the packaged sandwich is dominating the market and is estimated to grow at a CAGR of 6.3% during the forecast period from 2019-2024. People prefer packaged sandwich because of the convenience to eat and easy availability in many food stores and supermarkets/hypermarkets. Recently, sandwiches are considered as a nutritional and light diet food owing to the benefits of leafy vegetables and other sources of protein. However, prepared salads will witness a higher growth rate because of the awareness regarding the health benefits on the consumption of salads and growing inclination towards vegetarianism.

Distribution Channel - Segment Analysis

Supermarket and Hypermarkets are the largest distribution channel of chilled and deli food market across the world. The market for Supermarket and Hypermarket is estimated to grow at a CAGR of 4.8% during the forecast period from 2019-2024. Supermarket and Hypermarkets provide a one-stop solution to the consumers for various chilled and deli food products and have better infrastructure for the storage of chilled and deli food products. The presence of the number of supermarkets/hypermarkets is growing in various countries. Thus, attracting more customers to purchase chilled and deli food products from this channel. Further, online channels are also gaining popularity among customers as they provided products on discounted prices and deliver products directly to your doorstep.

Geography - Segment Analysis

The North America region held the largest market share of the chilled and deli food market. Several people add chilled and deli products to their regular meals, such as pre-packaged sandwiches and prepared salads, while some time-pressed customers replace the same for their regular meals. Changing customer lifestyles, particularly in terms of eating practices, and increasing need for convenience food are set to increase the sales of chilled and deli food products in the specific region. However, Asia – Pacific (APAC) region is estimated to grow at a higher CAGR owing to the rising population and increasing disposable incomes.

With the growth of modern food stores in emerging economies, chilled & deli food sales are increasing, with companies investing in cold chain facilities for fresh, chilled, and deli products. The market is purely driven by the need for convenience food products that require less time to prepare or consume.

Drivers – Chilled and Deli Food Market

·         Growth of Female Workforce:

Growth of female workers has increased reliance on ready-made and convenient food products, which in turn improves demand for chilled and deli food products, thus accelerating and increasing sales of chilled and deli food products.

·         Rise in Disposable income and Change in Lifestyle :

With increasing global population and rising income levels across emerging markets, the demand for food and other resources will grow at a higher level. The ability to preserve the food has made it possible for the producer to make its product available to consumers in each corner of the world. Added to this is the advantage of convenience, which has become very relevant in today’s world as people are leading busier lives. Rising preference of consumers for chilled & deli products along with consumer focus in gaining knowledge & desire to understand various nutritional contents is one of the key trends driving the market.

Challenges – Chilled and Deli Food Market

·         Increasing Government Regulation on Food Supply Chain

Stringent safety concerns over the manufacturing and transportation of chilled and deli food products are regulated by the government to maintain the nutritional value of the food and to avoid contamination during the transportation of this product. Owing to the increasing government regulation on the chilled and deli food products, manufacturers are not able to meet up the requirements of the market, thus creating a huge gap between demand and supply-side which is directly hampering the growth of the market.

·         Rising use of Synthetic Preservative

Chilled products mostly use synthetic preservatives to keep the product fresh and to increase its shelf life, which is also lowering the nutritional value of the food. Thus people prefer to use food products which have natural ingredients and natural preservatives rather than synthetic preservatives.

Market Landscape

Acquisitions and partnerships are some of the major strategies adopted by key players in the Chilled and Deli Food Market. The Chilled and Deli Food top 10 companies in the market are Samworth Brothers Ltd., Tyson Foods Inc., Hormel Foods Corporation, JBS S.A., Kraft Foods Group Inc., BRF S.A., Astral Foods Ltd., 2 Sisters Food Group, Waitrose Ltd., and WM Morrison Supermarkets Plc, among others.

Chilled and Deli Food Market Research Scope:

The base year of the study is 2018, with forecast done up to 2024. The study presents a thorough analysis of the competitive landscape, market size, and market shares of the leading companies. These provide the key market participants with the necessary business intelligence and help them understand the future of the chilled and deli food market. The assessment includes the forecast, an overview of the competitive structure, the market shares of the competitors, as well as the market trends, market demands, market drivers, market challenges, and product analysis. The market drivers and restraints have been assessed to fathom their impact over the forecast period. This report further identifies the key opportunities for growth while also detailing the key challenges and possible threats. The key areas of focus include the types of products that are in most in-demand and the end-user segment, which is propelling the growth of the market.