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The cold cuts market size is estimated to grow at a CAGR of 9.04% between 2022 and 2027. The cold cuts market size is forecast to increase by USD 153.31 billion. The growth of the market depends on several factors, including growing demand for convenient and packaged food, expanding retail space, and rising health consciousness and demand for low-fat and low-sodium products.
This cold cuts market report extensively covers market segmentation by product (deli cold cuts and packaged cold cuts), distribution channel (offline and online), and geography (Europe, North America, APAC, Middle East and Africa, and South America). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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The rising health consciousness and demand for low-fat and low-sodium products are notably driving the market growth, although factors such as competition from alternatives may impede the market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The rising health consciousness among consumers and demand for low-fat and low-sodium products are notably driving market growth. The negative effects of eating processed meats, which frequently have high levels of sodium and fat, are becoming popular among consumers. To satisfy consumer demand for healthier options, producers have started offering low-fat and low-sodium versions of cold cuts. Major players in the market have responded by making R&D investments to release healthier product variants that appeal to customers who are concerned about their health.
Globally, this trend has been reinforced by governmental regulations requiring manufacturers to disclose nutritional information on product labels. This has also raised consumer awareness as consumers are now more aware of the nutritional value of the products they consume. It is anticipated that consumers will continue to prioritize their health and well-being when making food choices. Hence, this will boost the market growth during the forecast period.
The increasing focus on product innovation and research and development investments is an emerging trend in the market. In this fiercely competitive market, manufacturers are constantly looking for new ways to set themselves apart from the competition and offer consumers products that are unique. In order to create new products, improve existing ones, and incorporate innovative flavors and ingredients, businesses are investing a lot of money in R&D.
For instance, Tyson Foods launched a line of vegetarian meat alternatives in 2021 under its Raised and Rooted label. The line, which includes plant-based chicken tenders, nuggets, and breakfast sausage patties, is aimed at consumers looking for healthier and more environmentally friendly alternatives to conventional meat-based products. Such instances show that in order to meet shifting consumer demands and differentiate themselves from competitors, major market players are increasingly focusing on product innovation and R&D expenditures. Hence, such factors are expected to drive the growth of the market during the forecast period.
The competition from alternatives is a major challenge impeding the market growth. The market for cold cuts across the globe is threatened by the rise of plant-based meat alternatives. Consumer demand for products that are healthier, more environmentally friendly, and free of animal cruelty is being met by plant-based alternatives. For instance, Beyond Meat and Impossible Foods have large fan bases for their plant-based meat substitutes that taste and feel like meat.
Due to the competition from plant-based alternatives, cold-cut producers are under pressure to innovate and create healthier and more sustainable products. If cold-cut producers do not adapt to these changing consumer preferences, they run the risk of losing market share to plant-based alternatives. Additionally, as more people choose plant-based meat substitutes over traditional meat-based products, there might be a change in consumer behavior. Hence, such factors are anticipated to impede the growth of the market during the forecast period.
The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Cold Cuts Market Customer Landscape
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
BRF SA - The company offers meat and meat-related products under the brands Banvit, Perdix, Sadia, and others. The key offerings of the company include cold cuts through its brand Banvit.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The market share growth by the deli cold cuts segment will be significant during the forecast period. Deli cold cuts are more widely consumed than those in prepackaged form. Products include cooked ham, sausages, chicken breast, chicken rolls, corned beef, bologna, kielbasa, pastrami, prosciutto, roast beef, salami, pepperoni, and turkey breast. As they are freshly sliced when a customer orders them, these cold cuts appear to be fresh and contain few preservatives.
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The deli cold cuts segment was valued at USD 131.50 billion in 2017 and continued to grow until 2021. Since no cutting or cooking is necessary, eating deli cold cuts is convenient. These foods are rich in minerals like zinc and iron, vitamins like B12, and proteins. In contrast to packaged cold cuts, deli cold cuts are fresh or freshly sliced. Moreover, as opposed to packaged cold cuts, they are less expensive. Due to these advantages, deli cold cuts are consumed widely in large quantities. The different flavors and varieties of deli cold cuts as well as growing availability and popularity are factors in the segment's increased sales. Additionally, due to its rising purchasing power parity, disposable income, and rising health consciousness, India is anticipated to present sizable opportunities for the deli cold cuts product segment. These factors are expected to increase the demand for cold cuts from the deli cold cuts product segment, which, in turn, will drive the growth of the market during the forecast period.
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Europe is estimated to contribute 40% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
Europe is the dominating region in the global market, with Germany, Italy, UK, and France being the leading revenue-generating countries. The presence of numerous international and local vendors catering to consumers with growing awareness of healthy eating habits and high-protein diets caused the European deli meat market to be fragmented in 2022. Additionally, there is a significant increase in demand for healthy cold cuts like clean-labeled, vegetarian, and organic deli meat. The demand for high-protein foods, the preference for a healthy lifestyle, the expansion of organized retailing outlets that sell deli meat, and the increased efforts of suppliers to provide low-sodium, uncured, low-fat, and antibiotic-free deli meat are all factors contributing to the expansion of the market in Europe.
Weight gain and health risks like elevated cholesterol are associated with cold cuts. The demand for organic and natural cold cuts products has, thus, increased due to the rise in obesity and cardiac disease cases in Europe. Additionally, recommendations made by the European Food Safety Authority (EFSA), which establishes the safe level of nitrite and nitrate intake, have raised awareness among consumers of cold cuts about the need to limit their consumption of foods high in nitrite or nitrate. Vendors are putting more and more effort into developing new natural products with low levels of cancer-causing substances like nitrates and nitrites. The growing efforts of vendors to innovate cold cuts with low sodium content, low fat, and antibiotic-free products, along with increasing meat production and livestock farming, will drive the market in Europe during the forecast period.
In 2020, the market in Europe was negatively affected by the outbreak of COVID-19. However, countries started lifting lockdown restrictions, as large-scale vaccination started in 2021. This led to an increase in the demand for cold cuts as the supply of meat and meat products was restored in 2021. It grew further in 2022 and eventually led to the growth of the overall regional market. This trend is expected to continue in the near future, which, in turn, will positively impact the regional market during the forecast period.
The cold cuts market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Technavio categorizes the global cold cuts market as a part of the global packaged foods and meats market under the global food products segment of the global food, beverage, and tobacco market. The global packaged foods and meats market covers manufacturers or food processing vendors that are involved in food processing to eliminate microorganisms and extend shelf life. Our market research report has extensively covered external factors influencing the parent market growth during the forecast period.
Cold Cuts Market Scope |
|
Report Coverage |
Details |
Page number |
165 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 9.04% |
Market growth 2023-2027 |
USD 153.31 billion |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
7.89 |
Regional analysis |
Europe, North America, APAC, Middle East and Africa, and South America |
Performing market contribution |
Europe at 40% |
Key countries |
US, Australia, Germany, France, and Sweden |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
Alfa Corporativo S.A. de C.V., Andrews Smokehouse, Boars Head Brand, BRF SA, Bridgford Foods Corp., Butcher On The Block, CrisTim Group, Evans Meats and Seafood Inc., German Butchery Retail Pty Ltd., Hormel Foods Corp., JBS SA, Maple Leaf Foods Inc., Pocino Foods Co., Seaboard Corp., Sierra Meat and Seafood, The Kraft Heinz Co., The Wursthutte, Tyson Foods Inc., Cargill Inc., and WH Group Ltd. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by Distribution Channel
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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