Global Chilled and Deli Foods Market: Overview
Chilled and deli food are easily consumable and ready to eat food products. These products can be stored at low temperature. The increasing demand for convenient food items is expected to propel the global market of chilled and deli food. These food items have an important become part of daily consumption due to changing lifestyles of consumers around the world. These foods are gaining popularity as they help people to maintain healthy diet in the hectic lifestyle. Industrial and economic growth of developing countries are allowing this market to grow with significant pace. Furthermore, as chilled and deli foods are healthier than fast foods, they are being preferred by the customers, rising the momentum of the market.
It is projected that the global chilled and deli foods market will reach US$988.70 bn by the end of 2021 from its initial value of US$853.49 bn in 2016, projecting a growth trajectory of steady CAGR of 3.0% during the forecast period 2015-2021.
Prepacked Sandwiches Segment Gains Popularity due to Health Benefits Provided
The global chilled and deli food market is gaining its impulse due to various products available such as prepared salads, prepacked sandwiches, pies and savory appetizers, meats, soups, chilled pastas, and chilled pizzas. However, prepacked sandwiches are gaining traction of audience due to its low fat and low calorie composure. This segment is anticipated to further grow over the forecast period, as players in this market are continuously innovating their products by adding new flavors. Furthermore expansion of supermarkets and hypermarkets and increasing disposable income are benefiting the growth of this segment.
Although the prepacked sandwiches segment is anticipated to expand throughout the forecast period, the pies and savory appetizers segment is most likely to undergo with the highest growth rate. Furthermore, the increasing demand for salads is projected to poise to growth of vegan diet products. Pizzas and pastas are also expected to grow their market values due to increasing number of types and flavors.
North America and Europe showcase High Opportunities for Market Growth
Geographically, the global chilled and deli foods market can be segmented into Asia Pacific, Europe, North America, and Rest of the World. North America and Europe are presenting high opportunities for growth of this market due to hectic lifestyle and eating and cooking habits. This has resulted in the emergence of various prominent players and numerous small vendors across these regions. Working class people of this region are shifting their focus towards ready to eat items such as chilled and deli products, as they are easily prepared and consumed. Furthermore well-established retail sector that has resulted into development of supermarkets and hypermarkets are providing more convenience for the customers to consume chilled and deli foods.
However, the Asia Pacific market is expected to grow exponentially over the forecast period due to the increasing population within the region. Asia Pacific is constantly evolving in terms of urban and industrial growth, giving rise to disposable income of people. Prominent players in the global market are focusing on this region as it provides various opportunities for growth over the forecast period. Furthermore, Africa and South America are expected to showcase a steady growth for the chilled and deli foods market, however, the retail sector needs to be developed for infrastructure used for storage and refrigeration.
Prominent players operating in the global market for chilled and deli foods are focusing on product innovation and are involving in various mergers and acquisitions to expand their global presence. Some of the players dominating the market are Brasil Foods S.A., Tyson Foods, Inc., and Kraft Foods Group, Inc.
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