Chilled and Deli Food Market to Garner $1,639.96 Bn, Globally, by 2031 at 4.2% CAGR: Allied Market Research

Rise in demand for ready-to-cook food items and change in lifestyle drive the growth of the global chilled and deli food market.

PORTLAND, Ore., Feb. 23, 2022 /PRNewswire/ -- Allied Market Research recently published a report, titled, "Chilled and Deli Food Market by Product Type(Meats, Pies & Savory Appetizers, Pre-Packed Sandwiches, Prepared Salads, and Others), Packaging (Tins, Cans, Plastic Packs, Cardboard, and Others), and Distribution Channel (Hypermarkets/Supermarkets, Specialty Stores, Food Service Outlets, Online Channel, and Others): Global Opportunity Analysis and Industry Forecast, 2022–2031". As per the report, the global chilled and deli food industry was accounted for $888.62 billion in 2020, and is expected to reach $1,639.96 billion by 2031, growing at a CAGR of 4.2% from 2022 to 2031.

Drivers, restraints, and opportunities

Rise in demand for ready-to-cook food items and change in lifestyle drive the growth of the global chilled and deli food market. However, use of nitrates and nitrites in deli food products causes cardiovascular problems, which in turn, hampers the market growth. On the contrary, surge in middle-class population, economic growth, and urbanization would open new opportunities in the future.

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Covid-19 scenario:

• The Covid-19 pandemic disrupted the food & beverage supply chains and consumption habits and fear of contamination negatively affected the market during the Covid-19 outbreak.
• During the first wave of the pandemic, consumers' fear of food shortage led to rise in demand for chilled and deli foods and companies were unable to meet the demand. 

The pies & savory appetizers segment held the lion's share

By product type, the pies & savory appetizers segment held the largest share in 2020, accounting for more than one-fourth of the global chilled and deli food market, due to its popularity and rise in consumption across the globe. However, the prepared salads segment is expected to register the highest CAGR of 5.5% during the forecast period, due to rise in demand for healthy food alternatives by the consumers to maintain proper health.

The online channel segment to manifest the highest CAGR through 2030

By distribution channel, the online channel segment would showcase the highest CAGR of 5.8% from 2022 to 2031, due to rise in association of internet and e-shopping with consumers in developing region. However, the food service outlets segment held the largest share in 2020, contributing to around one-third of the global chilled and deli food market, owing to rise in availability of deli food products around the globe.

North America held the largest share

By region, the market across North America held the largest share in 2020, accounting for around one-third of the market, due to rise in consumption of chilled and deli food products in countries such as Canada, the U.S., and Mexico. However, the global chilled and deli food market across Asia-Pacific is expected to register the highest CAGR of 5.6% during the forecast period, due to rise in westernization and adoption of innovative chilled and deli food products.

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Major market players

• Astral Foods Ltd.
• Hormel Foods Corporation
• BRF S.A.
• Samworth Brothers Limited
• JBS S.A.
• Tyson Foods, Inc
• The Kraft Heinz Company
• Wm Morrison Supermarkets
• Waitrose & Partners
• 2 Sisters Food Group.

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