Kraft
Foods Group, Inc., Brasil Foods S.A., and Tyson Foods, Inc.
collectively held 28% of the global chilled and deli foods market in
2014, leaving 72% of the revenue to be taken up by a very large
number of regional players.
According
to Transparency Market Research, these key players aim to acquire
greater portions of the market revenue through various market
consolidating ventures such as mergers and acquisitions and advanced
research and development. For them, consistency in releasing new
types of chilled and deli foods and other meats is key to gaining in
market share.
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Players
Aim for Greater Sales in Rapidly Growing Prepackaged Sandwiches
Segment
“Prepackaged
sandwiches have been the most popular type of chilled and deli food
in recent times. This segment not only has the ability to provide
consumers with a more balanced diet, but also provides a high level
of convenience. Prepackaged sandwiches fit perfectly into the hectic
modern lifestyle of most middle-class workers” states a TMR
analyst. While prepackaged sandwiches have always been popular in
North America and Europe, they are rapidly gaining popularity in
other parts of the world as well.
Meanwhile,
thanks to advancements in packaging materials and manufacturing,
prepared salads are showing the highest level of promise for players
in the chilled and deli foods market. Salads are a highly preferred
food preparation today due to the growing health-consciousness of
consumers. Improvements in packaging allow salads to be kept fresh
for longer, allowing better transportation and sales.
Economic
Improvement in APAC Allows More Consumers Access to Chilled and Deli
Foods
The
demand for chilled
and deli foods in Asia Pacific is currently very high and the
key reason for this is the rapid growth in economy. China and India
are especially responsible for the recent demand and developments in
the Asia Pacific market for chilled and deli foods. The increasing
disposable income among individuals in the growing urban areas of the
two countries now hold key opportunities for not only the globally
prominent players, but also the regionally popular ones.
Asia
Pacific also holds a unique advantage for players in the form of a
growing workforce in the chilled and deli foods business, especially
in women. The increasing acceptance of modern social concepts and the
need for greater earnings are increasingly allowing women to take up
work, which holds promise for the chilled and deli foods business.
Demand
for Chilled and Deli Foods Continues to Grow in Asia Pacific
The
revenue generated globally by the chilled and deli foods players is
expected to increase at a CAGR of 3.0% within a forecast period from
2015 to 2021. The revenue is expected to reach US$853.5 bn by the end
of 2016 and US$988.7 bn by 2021.
Asia
Pacific, through its high population density and rapid ongoing
industrial growth, will consistently present the highest demand for
chilled and deli foods. It is expected to reach a revenue of
US$366.92 bn by the end of 2021.
The
information presented in this review is based on a Transparency
Market Research report, titled “Chilled and Deli Foods Market -
Global Industry Analysis, Size, Share, Growth, Trends and Forecast
2015 - 2021.”
Key
Takeaways:
Asia
Pacific expected to generate chilled and deli foods revenue of
US$399.92 bn by 2021.
US$397.46
bn of annual revenue in global chilled and deli foods market expected
to be derived from pre-packaged sandwiches by 2021.
Pies
and savory appetizers segment expected to be valued at US$297.7 bn by
2021
Key
Segments of the Global Chilled and Deli Foods Market
Global
Chilled and Deli Foods Market, by Type:
- Meats
- Pies and Savory Appetizers
- Prepackaged sandwiches
- Prepared salads
- Others
Global
Chilled and Deli Foods Market, by Geography:
- North America
- Europe
- Asia Pacific
- Rest of the World
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