U.S. & Canada Value Added Deli and Produce Market Expected To Reach $20,372.9 Million by 2027—Allied Market Research
According to a new report published by Allied Market Research, titled, U.S. & Canada Value Added Deli and Produce Market by Type, Sales Channel and Country: Opportunity Analysis and Industry Forecast, 2021–2027”. The U.S. & Canada value added deli and produce market size was valued at $12,823.8 million in 2019, and is expected to reach the market size of $20,372.9 million by 2027, growing at a CAGR of 6.5% from 2021-2027. The ready-to-eat salad segment was the most prominent segment in 2019, and is expected to continue this trend throughout the forecast period. U.S. accounted for the majority of value share in 2019, and is estimated to continue this trend throughout the forecast period.
The growth of the U.S. & Canada value added deli and produce market can be attributed to rapidly developing retail infrastructure and surge in adoption of veganism. Other factors contributing toward the market growth include surge in adoption of healthy snacking habit among millennials and changes in lifestyle of people leading to less time for cooking or preparing food. However, high price of value-added deli and produce acts as a major restraint of the market. Conversely, increase in adoption of organic fruits and vegetables among buyers is expected to provide potential opportunities for the U.S. & Canada value added deli and produce market growth.
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The U.S. & Canada value added deli and produce market is segmented into type, sales channel, and country. Depending on type, the market is fragmented into sandwiches, wraps, ready-to-eat salads, ready-to-eat meals, and produce. On the basis of sales channel, it is differentiated into grocery stores, supercenters, and club. Country wise, the market has been studied across the U.S. and Canada.
Based on the U.S. & Canada value added deli and produce market analysis by type, the ready to eat salads segment was the largest revenue generator in 2019, and is expected to continue this trend throughout the forecast period. The growth of this segment can be attributed to rise in adoption of good-for-you food such as salads and greens among consumers. Furthermore, increase in concerns about appearance coupled with rise in health consciousness has encouraged people to adopt various forms of diets, which include green leafy vegetables and different salads. This alongside the convenience offered by packaged or ready-to-eat salads makes it a popular choice among the health conscious population.
Based on the U.S. & Canada value added deli and produce market forecast by sales channel, the grocery stores segment garnered majority of the share in 2019, and is expected to lead during the forecast period. This is attributed to the fact that grocery stores are conveniently located and eatables are available in reasonable prices. However, the superstores segment is expected to grow at the highest CAGR of 7.1% from 2021 to 2027.
By country, the U.S. was the dominant market, contributing the largest market share in the U.S. & Canada value added deli and produce market. The growth is attributed to higher awareness about the benefits of balanced nutrition among the populace in this country. Moreover, higher disposable income coupled with increase in work hours has encouraged people to invest in value added deli and produce.
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Key findings of the study
By type, the ready-to-eat salad segment dominated the U.S. & Canada value added deli and produce market in 2019, and is expected to retain its dominance throughout the forecast period.
On the basis of sales channel, the grocery store segment accounted for the highest share in the U.S. & Canada value added deli and produce market in 2019, and is projected to grow at a CAGR of 9.6% from 2021 to 2027.
Country wise, the U.S. garnered the highest share in the market in 2019, and is expected to register a CAGR of 6.6%.
Key players in the market have relied on agreement, acquisitions, product launch, partnerships, and business expansion as their key strategic move to stay relevant in the industry and improve their stance in the U.S. & Canada value added deli and produce market share. The key player in the U.S. & Canada value added deli and produce industry profiled in the report are Bonduelle, Bridgford Food Corporation, Bright farms, Calavo Growers, Inc, Dole Food Company, Dutchman's Store, Fresh Express, Freshway Foods, Mann Packing Co., Inc., Sunripe Fresh market, and Taylor Farms.
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