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Chilled and Deli Food Market to Rise with Stupedous Growth due to Change in Lifestyle
Chilled and Deli Food Market
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Chilled and deli food items are ready to eat products which can be readily consumed and stored at low temperatures. The global chilled and deli food market is expected to witness notable growth in the coming years due to the increasing demand for ready to eat products. Chilled and deli food has become an important part of the lifestyle demographic because of the rising usage of preserved food products in daily life.
The global prepacked sandwiches market is witnessing steady growth and is estimated to dominate nearly two-fifths of the global chilled and deli food market in terms of revenue by 2022 at a CAGR of 3.1%. Growing demand in the packaged food industry and rising consumption of healthier food products in the food and beverages industry is attributed for this growth, however, unstable price of raw material is limiting the growth of the market.
Chilled and deli food products are mainly consumed by people who are working and have don’t have time to cook. In addition, expansion of hypermarkets and supermarkets, increasing disposable income, upswing in living standards and increasing number of working women are major factors that are contributing to the growth of this market. However, increasing government regulations on food supply chain and labeling as well as rising use of synthetic preservatives are factors restraining the growth of this market.
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Key Findings of Chilled and Deli Food Market:
Though Asia-Pacific is projected to continue to dominate the chilled and deli food market, LAMEA will grow at a higher CAGR of 4.0%, in terms of revenue.
North America accounted for more than one-fourth share of the chilled and deli food market, in revenue, with a CAGR of 2.6%.
China dominated in the Asia-Pacific chilled and deli food market, and is expected to grow at a CAGR of 4.0%, in revenue terms.
The meats segment of the chilled and deli food market is expected to grow with a CAGR of 3.3%, during the forecast period.
Latin America dominated the chilled and deli food market in LAMEA region with nearly half the market share, and is estimated to grow at a CAGR of 5.6%, during 2016-2022.
Based on geography, the market is segmented into North America, Europe, Asia-pacific and LAMEA. Asia-Pacific was the highest revenue-generating region and is expected to grow at a CAGR of 3.8%. LAMEA is anticipated to register significant growth in the forecast period followed by North America and Europe with a CAGR of 4.0%.
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