The busy modern lifestyle in the contemporary regime is influencing people to buy packaged goods and prepared foods. As a part of this, especially working people are giving more preference to the ready-to-eat products in their daily life, due to lack of time for food preparation. Moreover, these products fulfill the motto of working people “grab and go with the fresh and fast,” and this is reflecting in the increase in the sales of chilled and deli food. Increase in consumption of ready meals, frozen food, deli meat, and prepared meals was encouraging the frozen food companies and chilled and deli food manufacturers to launch eye-catching products through new formulations. These food products have become a choice for many of the buyers today, as they are easily stored at low temperature and offer convenience in the case of consumption. The rise in demand for convenience food items is witnessing a notable growth in the global chilled and deli food market in the near future. Therefore, chilled and deli food is playing a vital role in the consumers life.
Additionally, increasing disposable income, growing accessibility of the same in hypermarket and supermarket retail outlets, and increase in the count of working women are acting as the growth-promoting factors for chilled and deli food market. Retailer’s collection of new prepared food items such as meat, savory pie appetizer, prepacked sandwich, and prepared salad in their stores satisfy the change in customer tastes and demands. Thus, the appetite and high-interest level of consumers led to an increase in the global chilled and deli food market size which was evaluated at $632 billion in 2018 and is estimated to grow at a CAGR of 3.8% during the forecast period 2019-2025.
Sandwiches are a centerpiece in the American diet. United States Department of Agriculture (USDA) states that nearly 47% of adults in the U.S. consume one or more sandwiches per day. Presently, the new generation shoppers are giving more importance to packaged sandwiches compared to meat, savory pie appetizer, and prepared the salad as they are more suitable to their busy lifestyle. Therefore, the packaged sandwiches are becoming popular, and so, it is identified as the fastest-growing application in the chilled and deli food market, and it is set to grow at a CAGR of 6.3% through to 2025. Packaged sandwiches are gaining traction from consumers and also elevating as one of the major choices among grab and go foodservice options in the retail foodservice industry.
The Higher Purchasing Power of North American Countries Increasing the Chilled & Deli Food Market Size in the Region –
The higher income statistics of the working population are also leading to an upsurge in the chilled and deli food market revenues. The household disposable income of residents in the North American countries is reflecting an upsurge in North America chilled and deli food market. According to the Organization for Economic Co-operation and Development, the U.S. household disposable income has experienced an annual growth rate of 2.3%, whereas Canada has accounted for a growth rate of 3.6% in the year 2017. This growth of household disposable income is indirectly contributing to the growth of North America chilled and deli food market as people can afford and splurge on such convenience food. North America was held as the leading region, which accounts for a larger share of 36 % in the global chilled and deli food market, as of 2018. Nowadays, chilled and deli products, namely prepackaged sandwiches and prepared salads are supplementing regular meals for a multitude of people. On the other hand, people that are perpetually in a hurry are choosing these products as a substitute for their regular meals. Thus, the shift in consumer eating habits and their increasing need for convenience food is set to augment the sales of chilled and deli food products in this region.
Trends - Chilled and Deli Food Marketplace:
· Shift in Consumer Consumption: At present, consumers are highly concerned about the intake of healthy and nutritious food. Customer’s desire for fresh sausages, deli, and ready to products consumption is fuelling the chilled and deli food market revenue. Additionally, advancements in social media and the Internet are indirectly contributing to the sales of chilled and deli food products. Retail stores are investing more money on equipment such as chillers to fulfill the customer demand for chilled and deli food.
· Novel Technologies – Frozen Food: In comparison to fresh food, frozen food produces almost 50% less waste. In addition to this, innovative technologies which include high-pressure processing and self-heating packaging are highly in use, especially for frozen food. Furthermore, the upcoming launch of canned form ready-to-eat foods which aid self-heat and de-freeze are also impacting the growth of the chilled and deli food market.
Major Players in Chilled and Deli Food Market Include:
2 Sister Food Group Ltd., Brf S.A., Kraft Heinz Company, Samworth Brothers Limited, Tyson Foods Inc., Nestle S.A., Astral Foods Inc., Hain Daniels Group Limited, Del Monte Foods Inc., and WM Morrison Supermarket PLC are the Chilled And Deli Food top 10 companies which are operating in the chilled and deli food industry. These players are coming up with developments to mark their position in the chilled and deli food market. For instance, a recent development in chilled and deli food marketplace is evident as follows:
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