Chilled & Deli Foods Industry Overview
The global chilled & deli foods market is expected to reach USD 350.9 billion by 2030, registering at a CAGR of 5.5% from 2022 to 2030, according to a new report by Grand View Research, Inc.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. A busy lifestyle coupled with shifting consumer preference towards prepared meals, owing to the convenience offered by them, is poised to remain one of the key trends stoking market growth in the forecast period.
Manufacturers are launching a wide range of chilled & deli foods in the healthier segment with claims vegan gluten and dairy-free in order to cater to the rising customer demand, which is increasing the scope of chilled & deli foods in the global market. For instance, in July 2021 Veroni, a manufacturer of Italian cured meats and specialties launched its new snack line offering a selection of authentic Italian salami with provolone cheese, dried fruit, and breadsticks.
Chilled & Deli Foods Market Segmentation
Grand View Research has segmented the global chilled & deli foods market based on the product, meal-type, distribution channel, and region.
Based on the Product Insights, the market is segmented into Meat & Meat Alternatives, Cheese, Bread & Bakery Products, Prepared Meals & Sides, Sauces, Dips & Hummus, and Others
- The meat & meat alternatives segment held the largest market share in 2021 and is expected to maintain its dominance during the forecast period.
- The prepared meal & sides segment is projected to register the fastest CAGR from 2022 to 2030. Prepared meals are likely to gain traction amongst consumers because of the convenience and longer shelf-life.
- The inclination of the consumers, especially millennials toward prepared meals due to hectic lifestyles is likely to bode well with the growing demand.
- Major brands operating in the segment are likely to capitalize on this product segment to obtain a larger market share by launching new prepared meals.
Based on the Type Insights, the market is segmented into Conventional and Organic
- The conventional segment held a larger market share in 2021 and is expected to maintain its dominance over the forecast period.
- As demand for chilled & premium foods increases amongst the consumers, the conventional segment is likely to dominate the supermarket shelves in the major countries such as the U.S. and U.K.
- Strategic partnerships, product launches, and expansion strategies in the conventional segment by major players in the market likely to bode well with the future market growth.
- However, the organic type segment is projected to register faster growth during the forecast period.
Based on the Distribution Channel Insights, the market is segmented into Supermarkets & Hypermarkets, Convenience Stores, Online, and Others
- Supermarkets & hypermarkets distribution channels made the largest contribution to the global market in 2021.
- The supermarket in the U.S. includes Wegman’s, Fresh Thyme, HEB, Whole Foods, Giant Food, Ralph’s stores, and more offering plant-based meats, deli sandwiches made from real vegetables, and protein-rich grains.
- An online distribution channel is anticipated to grow at a higher rate during the forecast period. Delicatessen brands have embraced online distribution channels and many deli brands now sell products online.
- The virtual platform provides groceries such as bread, ready meals, and delis and helped consumers during the restrictions on retail and restaurants. Such initiatives are likely to bode well with the future segment growth.
Chilled & Deli Foods Regional Outlook
- North America
- Europe
- Asia Pacific
- South & Central America
- Middle East & Africa (MEA)
Key Companies Profile & Market Share Insights
The market holds immense potential for international as well as regional players. Emerging entrants, especially in developing countries, are expected to gain increased opportunities to enter the market. The rising establishment of government initiatives and increasing foreign investments in developing the sector, mainly in China and India, are expected to boost industry growth in the coming years. Overall, the global market is highly competitive and dependent on technological advancements along with product development. Industry players strive to achieve the local taste and gain a competitive advantage over others. The presence of local players poses a significant threat to large multinational companies in terms of product quality and the price offered to customers.
Some prominent players in the global Chilled & Deli Foods market include:
- General Mills, Inc.
- PepsiCo
- The Kraft Heinz Company
- Nestlé
- The Kellogg Company
- Unilever
- Calbee
- Intersnack Group GmbH & Co. KG
- Conagra Brands, Inc.
- ITC Limited
Order a free sample PDF of the Chilled & Deli Foods Market Intelligence Study, published by Grand View Research.
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