PUBLISHER: Grand View Research | PRODUCT CODE: 1321406
PUBLISHER: Grand View Research | PRODUCT CODE: 1321406
The global chilled and deli foods market size is expected to reach USD 350.9 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to grow at a CAGR of 5.7% from 2023 to 2030. The rising preference of consumers for chilled and deli products along with their focus on gaining knowledge about the food's nutritional content is one of the key trends driving the growth. A busy lifestyle coupled with shifting consumer preference towards prepared meals, owing to the convenience offered by them, is poised to remain one of the key trends stoking market growth over the forecast period.
Manufacturers are launching a wide range of chilled and deli foods in the healthy food category with vegan, gluten-free, and dairy-free options to cater to the rising customer demand. This is increasing the scope of chilled and deli foods in the global market. For instance, in July 2021, Veroni, a manufacturer of Italian cured meats and specialties launched its new snack line offering a selection of authentic Italian salami with provolone cheese, dried fruit, and breadsticks.
Based on nature, the organic segment is expected to witness rapid growth during the forecast period. Product launches in this segment are likely to supplement the overall growth of the segment. For instance, in May 2020 Applegate Farms, the U.S.-based natural and organic meat company owned by Hormel Foods, launched a blended meat and vegetables range called Well Carved. The product line consists of meats with whole vegetables, legumes, and grains, Grass-Fed Organic Beef Burgers, Organic Turkey Burgers, and Organic Asian Style Pork Meatballs.
The supermarkets and hypermarkets distribution channel segment held the largest market share in 2022 and is expected to maintain dominance over the forecast period. The rise in demand for chilled and deli foods by consumers has made supermarkets and hypermarkets including Walmart, and Target holds greater shelf spaces for chilled and deli foods, especially in developed countries such as the U.S., the UK, Germany, and France.
The chilled and deli foods industry is consolidated in nature with the presence of a large number of international players and a few regional players. General Mills, Inc.; PepsiCo; The Kraft Heinz Company; Nestle; The Kellogg Company; Unilever; Calbee; Intersnack Group GmbH & Co. KG; Conagra Brands, Inc.; and ITC Limited are among the prominent players in the global market.