Global Chilled and Deli Foods Market: Snapshot
Chilled and deli foods represent a set of food products that are ready to eat, easy to consume, and can be stored refrigerated for long durations for future use. In the past few years, the global of such foods, which includes a variety of prepared salads, prepacked sandwiches, pies and savory appetizers, soups, and meats, has seen a massive rise across the globe. Busy lifestyles, preference to outside foods, and ubiquitous refrigeration systems even across developing economies are some of the key factors contributing to the growth of the market.
These factors are likely to drive the market in the next few years as well, allowing the global chilled and deli foods market to register a 3.0% CAGR over the period between 2015 and 2021. As this pace, the market, which valued at US$853.49 bn in 2016, is expected to rise to a revenue opportunity of US$988.70 bn by the end of 2021.
Prepacked Sandwiches Remain Most Popular Owing to Health Benefits
The report segments the global chilled and deli foods market based on criteria such as product type and geography. Based on product type, the market has been segmented into varieties such as pies and savory appetizers, prepacked sandwiches, prepared salads, meats, chilled pastas, chilled pizzas, and soups. Of these, the segment of prepacked sandwiches is gaining traction and is likely to emerge as a promising product throughout the report’s forecast period. The segment will benefit from the health benefits it provides over fast foods and deep-fried snacks. The low calorie composure of prepacked sandwiches also make them popular among health-conscious people, which are on a steady rise across the globe.
Over the next few years as well, the segment is likely to remain one of the most popular product segments and gain traction due to the rising focus of new vendors on innovation and expansion across emerging markets. Moreover, the expansion of the modern retail industry in emerging economies is also expected to work in favour of the product segment. Over the forecast period, the segment of pies and savory appetizers is also expected to exhibit a healthy growth pace. The segment of salads will benefit from the rising population of vegans globally.
North America and Europe Markets Continue to Provide High Growth Opportunities
From a geographical standpoint, the report segments the global chilled and deli foods market into regional categories such as Europe, North America, Europe, Asia Pacific, and Middle East and Africa. Of these, the markets in Europe and North America are presently the dominant revenue contributors to the global market owing to preference to ready-to-eat products, high disposable incomes, and busy lifestyles. The presence of a large number of small and prominent providers of a variety of chilled and deli foods in these regions also work well for the market. Moreover, the well-established modern retail industry and a number of supermarkets and hypermarkets are also driving the easy availability and thus the high uptake of chilled and deli foods.
However, the market in Asia Pacific is likely to emerge as one of the most lucrative regional markets in the next few years, thanks to the rising population of working class people, rising disposable incomes, busy lifestyles, high influence of Western food habits, and a thriving modern retail industry. The rising numbers of small and large providers of chilled and deli foods in emerging economies also contribute to the growth promise of the global chilled and deli foods market in the region.
The vast surge in demand for chilled and deli products across the globe has attracted a number of new players into the space, leading to intensified competition. Some of the leading companies in the market are Kraft Foods Group, Inc., Tyson Foods, Inc., and Brasil Foods S.A.
The global chilled and deli foods market has been observing growth as a result of the increasing demand for ready to eat food products. Moreover, due to the improving economic conditions in developing countries of Asia Pacific, the demand for chilled and deli foods in the region are on the rise. Furthermore, the demand for chilled and deli foods market in Asia Pacific is also fuelled due to the expansion of the retail food sector in countries such as China and India. As the income level of the people are growing, it has enabled the consumers to spend more on food products which in turn has resulted in the increase in the demand for chilled and deli foods. In North America, as a result of the busy lifestyles, people tend to prefer foods that are readily available and offer a convenient food option. Chilled and deli foods are ready to eat foods which suits well with the people for whom time is a constraint. Chilled and deli foods are also considered to be healthier as compared to the frozen foods which further is a factor responsible for the growth of the market in Europe.
On the basis of product type, the global chilled and deli foods market has been categorized into meats, pies and savory appetizers, prepacked sandwiches, prepared salads and others. The largest category in the chilled and deli foods in 2014 in terms of revenue was prepacked sandwiches. The demand for prepacked sandwiches is high as it offers both, a complete and balanced diet option. Europe was the largest market for the prepacked sandwich category in 2014. Pies and savory appetizers was the second largest category as a result of its high demand from the youth population in countries such as India and China. Prepared salads category is the next largest category and the demand for it is expected to remain high as a result of the health benefits it provides.
However, the chilled and deli foods market is highly fragmented and is dominated by a large number of local players. The penetration level of the private label brands in the chilled and deli foods market is high. The private label brands are mainly sold in the super markets and hyper markets. Recent trends have shown that a large number of food and beverage companies are entering into the chilled and deli foods market with their array of products due to the immense opportunities available in the market. Moreover, the existing brands are adding new varieties to their product line in order to expand their business.
The report also provides an understanding of the value (USD billion) of chilled and deli foods market. The study also provides forecast from 2015-2021 and highlights current and future market trends. The report also provides an understanding of company shares of chilled and deli foods market in North America, Europe, Asia Pacific, and Rest of the World.
The market for chilled and deli foods market on the basis of geography has been categorized into North America, Europe, Asia Pacific and Rest of the World. The regions have been further subdivided in countries. The U.S., Canada and others have been included in the North America region. The countries included in Europe are U.K., Italy, Spain, France, Germany and Rest of Europe. For the Asia Pacific market, China, India, Japan, Australia and Rest of Asia Pacific are included. Brazil, Argentina and others have been included in the Rest of the World region.
The report also provides the company market share analysis of key players operating in the chilled and deli foods domain. The key players operating in global chilled and deli foods market are Tyson Foods Inc., JBS S.A., Kraft Foods Group Inc., BRF S.A., Astral Foods Ltd., Hormel Foods Corporation, 2 Sisters Food Group, Waitrose Limited, Wm. Morrison Supermarkets PLC and Samworth Brothers Limited.
Chilled and Deli Foods Market: By Product Type
- Pies and Savory Appetizers
- Prepacked Sandwiches
- Prepared Salads
Chilled and Deli Foods Market: By Geography
- North America
- Asia Pacific
- Rest of the World