Chilled and Deli Foods Market Size, Share, Growth, Trends and Industry Analysis Report
by Susan Hill Business ConsultantThe global chilled and deli foods market size is likely to reach
USD 267.70 billion by 2025, according to a new report by Grand View Research,
Inc., exhibiting a CAGR of 5.2% during the forecast period. Chilled & deli
foods are witnessing increasing demand in the food & beverages industry,
mainly owing to growing acceptance among consumers. 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.
Pre-packaged products are
likely to be the largest product segment for the chilled & deli foods
market throughout the forecast horizon. 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.
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.
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.
Further key findings from the report suggest:
- 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.
Access full research report on global chilled
& deli foods market:
www.grandviewresearch.com/industry-analysis/chilled-deli-food-market
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Created on May 4th 2020 15:03. Viewed 324 times.