Chilled and Deli Food Market to Grow at a Steady CAGR of 4.2% Forecast by 2031 | Global Value $1,639.96 billion

Allied Market Research recently published a report, titled, "Chilled And Deli Food Market by Product Type(Meats, Pies & Savory Appetizers, Pre-Packed Sandwiches, Prepared Salads, and Others), Packaging (Tins, Cans, Plastic Packs, Cardboard, and Others), and Distribution Channel (Hypermarkets/Supermarkets, Specialty Stores, Food Service Outlets, Online Channel, and Others): Global Opportunity Analysis and Industry Forecast, 2022-2031". As per the report, the global chilled and deli food industry was accounted for $888.62 billion in 2020, and is expected to reach $1,639.96 billion by 2031, growing at a CAGR of 4.2% from 2022 to 2031.

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Drivers, restraints, and opportunities

Rise in demand for ready-to-cook food items and change in lifestyle drive the growth of the global chilled and deli food market. However, use of nitrates and nitrites in deli food products causes cardiovascular problems, which in turn, hampers the market growth. On the contrary, surge in middle-class population, economic growth, and urbanization would open new opportunities in the future.

Leading Key Companies Involved:

The players operating in the global chilled and deli food market have adopted various developmental strategies to expand their chilled and deli food market share, increase profitability, and remain competitive in the market. The key players profiled in this report include Astral Foods Ltd., BRF S.A., Hormel Foods Corporation, JBS S.A., Samworth Brothers Limited, The Kraft Heinz Company, Tyson Foods, Inc, Waitrose & Partners, Wm Morrison Supermarkets, and 2 Sisters Food Group

Regional Outlook:
North America held the largest share

By region, the market across North America held the largest share in 2020, accounting for around one-third of the market, due to rise in consumption of chilled and deli food products in countries such as Canada, the U.S., and Mexico. However, the global chilled and deli food market across Asia-Pacific is expected to register the highest CAGR of 5.6% during the forecast period, due to rise in westernization and adoption of innovative chilled and deli food products.

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Blockchain technology in the meat sector is a game-changer for both manufacturers and consumers. Users may utilize blockchain for fresh meat and deli food products to record and track data, such as health protocols, performance metrics, present locations, and progress across the supply chain. The option to personalize data flow between buyer and seller is unique to the platform. This feature assists the user in learning more about the product and gaining a better understanding of it. In times of uncertainty, blockchain technology encourages consumers to choose the best deli food and meat product and provide chilled and deli food market opportunities for growth.

Key Findings Of The Study

-> On the basis of chilled and deli food market analysis for region, North America accounted for the largest revenue share of the global market, registering a significant CAGR from 2022 to 2031, followed by Europe.
-> On the basis of chilled and deli food market trends in 2021, the hypermarkets/supermarkets in distribution channel segment accounted for approximately 25% share, in terms of value, and is expected to grow at the highest CAGR of 4.4%.
-> Asia-Pacific is anticipated to grow at the highest CAGR of 5.6% from 2022 to 2031 in the chilled and deli food market forecast period.
-> In 2021, the U.S. generated the highest revenue, accounting for approximately 27% share of the global market.
-> Brazil is anticipated to grow at a significant CAGR of 2.6% during the forecast period.

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By distribution channel, the online channel segment would showcase the highest CAGR of 5.8% from 2022 to 2031, due to rise in association of internet and e-shopping with consumers in developing region. However, the food service outlets segment held the largest share in 2020, contributing to around one-third of the global chilled and deli food market, owing to rise in availability of deli food products around the globe.

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