What is the global market size of Chilled and Deli Food Market?

Chilled and Deli Food Market size was valued at USD 224.94 billion in 2022 and is poised to grow from USD 237.74 billion in 2023 to USD 370.43 billion by 2031, growing at a CAGR of 5.7% in the forecast period (2024-2031).

Chilled and Deli Food Market Size

Chilled and Deli Food Market Insights

Global Chilled and Deli Food Market size was valued at USD 231.92 billion in 2023 and is poised to grow from USD 245.37 billion in 2024 to USD 385.22 billion by 2032, growing at a CAGR of 5.8% during the forecast period (2025-2032).

Chilled and deli foods are ready-to-eat foods, which are easily consumable and can be stored for long in low temperatures. Growing consumer preference for chilled and delicatessen products and consumer desire to understand different nutritional ingredients is one of the key trends driving the market. Changing consumer preference for convenient foods due to busy lifestyles and convenience provided is expected to remain one of the key trends driving the growth of the market during the forecast period. A report released by Kerry Group in May 2020 found that 26.0% of consumers said prepared meals were the most important consideration when purchasing fresh produce, compared with 66.0% of consumers. Buys ready-to-eat snacks, meals and more from retailers each month.

Consumers continue to demand health-enhancing products with clean label attributes such as “all natural, 100% natural,” “real made,” and “organic.” Since the outbreak, it seems to have gained even more momentum. Meanwhile, with increasing pressure on brands to expand their portfolios, the overall concept of frozen food is shifting further towards plant-based/vegan/organic ingredients. In recent years, prepared foods and superfoods have become supermarket deli giants. Ready-to-eat meals, side dishes, salads, pre-sliced meats and cheeses, and ready-to-eat side dishes provide both consumer friendliness and time savings, driving market growth.

US Chilled And Deli Food Market is poised to grow at a sustainable CAGR for the next forecast year.

FAQs

The chilled and deli food market holds great potential for international and regional players. Emerging market players, especially from developing countries, are expected to have more opportunities to enter the market. Increasing establishment of government initiatives and increasing foreign investment to develop the sector, mainly in China and India, are expected to spur industry growth in the coming years. Overall, the global market is highly competitive and dependent on product development and technological advancements. Industry players are striving to match local tastes and gain a competitive advantage over others. The presence of local players poses a significant threat to large multinationals in terms of product quality and prices offered to customers. 'Tyson Foods Inc. (United States) ', 'Hormel Foods Corporation (United States) ', 'JBS S.A. (Brazil) ', 'The Kraft Heinz Company (United States) ', 'Conagra Brands, Inc. (United States) ', 'Nestle S.A. (Switzerland) ', 'Cargill, Incorporated (United States) ', 'Associated British Foods plc (United Kingdom) ', 'Bakkavor Group plc (United Kingdom) ', 'McCain Foods Limited (Canada) ', 'Lantmannen Unibake (Denmark) ', 'Nisshin Seifun Group Inc. (Japan) ', 'Samworth Brothers Ltd. (United Kingdom) ', 'Reser's Fine Foods, Inc. (United States) ', 'Urban Deli AB (Sweden) ', 'Waitrose & Partners (United Kingdom) ', '2 Sisters Food Group (United Kingdom) ', 'BM Food Manufacturers (South Africa) ', 'Hain Daniels Group Limited (United Kingdom) '

Spread of e-commerce portals as the increasing use of e-commerce portals for trading delicacies by local producers through the development of exchanges is expected to encourage businessmen to adopt new strategies.

As frozen food brands enter the market with new product launches, many of the established brands in the market focus on go-to-market strategies such as online advertising campaigns, rebranding and packaging to launch new ranges of products. For example, in April 2021, Land O'Frost, one of his top-selling brands of sliced sausage products in the U.S. and maker of specialty meats, will rebrand Bistro Favorite Meat for his brand.

North America accounted for the largest share of 34.3% in 2021. As growing demand for convenient on-the-go groceries has underpinned the region's dominance. While some customers supplement their regular meals with chilled products such as prepackaged sandwiches and ready-to-eat salads, some time-pressed consumers prefer to keep their regular meals the same. Therefore, it is estimated that changes in consumer lifestyles, especially dietary habits, and growing need for ready-to-eat foods will increase sales of such products in the region. Preference for nutrient-rich superfoods among the consumers is increasing the demand for chilled & deli foods in the region. Many consumers use chilled products to enhance their usual meals, such as premade sandwiches and prepared salads, while others who are short on time use them to replace their normal meals.