Chilled and Deli Foods Market
Chilled and Deli Foods Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2021
Press Release :
Chilled and Deli Foods Market: Snapshot
Sedentary lifestyle, urbanization, and rising disposable income have made significant impact on the food habits of people. People are inclined toward consuming food items which are easy to cook, ready to consume, and can be stored for long duration.
In recent years, demand for savory appetizers, instant soup ingredient, pre-packed sandwiches, preserved meats, and pies has increased substantially. As a result, chilled and deli food market is expanding across the globe.
Registering the changes and ongoing demand, market analysts at Transparency Market Research estimate that the market will graph at a moderate CAGR of 3.0% in the forecast period (2015-2021). In 2016, the market value stood at US $ 853.49 bn, which is projected to reach US $ 988.70 bn by the end of forecast period.
Convenient Packaging Influence Demand for Pre-Packed Food
Among all the chilled and deli products, pre-packaged products are likely to be one the largest product segments throughout the forecast period. Lately, these food products are catering to wide range of requirements of organic such as Kosher and organic.
The pre-packaged food product lines consists of variety of items such as prepared salads, soups, chilled pizzas, savory appetizers, chilled pastas, and pre-packed sandwiches. These food items are easily available in the form of frozen meal. Further, convenient packaging of such meals is making them preferable among consumers. The factor is influencing the expansion of chilled and deli food market.
Pre-packed sandwich is one of the most preferable food items in chilled and deli food market. It is gaining substantial customer traction, and is likely to emerge as a promising product segment in coming years. Owing to the health benefits it offers over fried snacks and fast foods, it has become popular among health-conscious people.
Meanwhile, distribution channels are playing significant role in the expansion of chilled and deli food market. Frozen meal and pre-packed meals are easily available in supermarket, convenience stores, e-commerce portals, and hypermarket. Waitrose limited, Godrej Natural Baskets, Walmart, Wesfarmers Limited, and Kroger are some of the prominent distribution channels involved in marketing of chilled and deli foods.
Inclination of Working Population Toward Ready-to-Eat Food Items Providing Market Space to Chilled and Deli Food Items
At present, North America and Europe are leading revenue contributors to the global chilled and deli food market. It is due to presence of population with high disposable incomes in the region. Also, due to busy lifestyles people are opting for ready-to-eat food items. Presence of supermarkets are increasing the availability of the food products, and at the same time serving the demand of the consumers. Thereby, is enhancing the consumption of chilled and deli foods.
In addition, small and key regional chilled and deli food companies present in these regions are contributing to expansion of the global market.
On the other hand, Asia Pacific is anticipated to present lucrative growth opportunities to regional chilled and deli food market. Rising working population, busy lifestyles, high disposable income, and growing retail industry are, altogether, presenting promising growth avenues for chilled and deli food market in the region. Rising number of small and regional providers of chilled and deli food items is adding momentum to the expansion of chilled and deli food market in the region.
Surge in the demand for chilled and deli products across the world has attracted new players in the market space. This, in turn, has intensified the competition in global chilled and deli food items market. Some of the prominent companies present in the market are Brasil Foods S.A. Kraft Foods Group Inc., and Tyson Foods.
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