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The deli meat market is estimated to grow at a CAGR of 7.78% between 2022 and 2027. The size of the market is forecast to increase by USD 76.75 billion. The growth of the market depends on several factors, including growth in organized retail, increase in product launches, and rise in demand for packaged meat.
This report extensively covers market segmentation by product (cured deli meat and uncured deli meat), distribution channel (offline and online), and geography (North America, Europe, 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 increase in product launches is notably driving the market growth, although factors such as an increase in product recalls 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.
Key Deli Meat Market Driver
The increase in product launches is notably driving the market growth. New product launches by regional and international players have been one of the primary factors contributing to the growth of the global market. The growing number of product launches is raising awareness, versatility, and the availability of new and innovative flavours of deli meats in the market. Manufacturers of meat products are adopting innovative and distributive strategies to increase the market size of these products.
Successful product launches help in increasing the revenue flow of vendors and expanding their consumer base. Thus, vendors are continually involved in launching new and innovative products to cater to evolving consumer demands and thereby attract more customers and increase store sales. Many market players are even expanding their product portfolios by launching new product lineups and extending existing ones to include new flavors and snacks of deli meats. Thus, a growing number of product launches is one of the major drivers, which is expected to boost the growth of the global market during the forecast period.
Significant Deli Meat Market Trend
The rising demand for organic and natural deli meats is an emerging trend in the market. The growing awareness of the health benefits of organic foods, such as organic deli meat, has increased their consumption. Owing to the increasing prevalence of diseases across the world, consumers are becoming aware of the ingredients in the foods that they consume. As a result, the demand for organic meats is increasing in popularity as compared to normally processed meats.
Organic deli meat and natural deli meat are likely to register a significant increase in demand during the forecast period. Players such as Hormel Foods and Boar's Head Brand are focusing on strengthening their presence in the organic and natural deli meat segment to meet the rising demand. For example, in March 2020, Hormel Foods, through its brand Applegate, extended its organic and natural meat product offerings by launching Applegate Well Carved organic meatballs and burgers. These deli meats are devoid of antibiotics, synthetic hormones, and toxic pesticides. Thus, the rising demand for organic and natural deli meats is of the growing trends, which is expected to drive the growth of the global market during the forecast period.
Major Deli Meat Market Challenge
The increase in product recalls is a major challenge impeding the market growth. Food products are recalled when they are perceived as potential health hazards because of contamination, or the products contain allergens not mentioned on the labels. Product recalls hinder market growth by tainting the company's reputation, lowering consumer trust and loyalty, and imposing financial and operational burdens on the company. For instance, On May 6, 2022, the Food Safety and Inspection Service (FSIS) of the US Department of Agriculture issued a recall for about 862 pounds of RTE pork deli meat products from Olympia Meats in Portland, Oregon, owing to misbranding and undeclared allergies
With the current trend of rising health consciousness among people, product recalls by companies for factors such as contamination will erode the trust of consumers in the brand and decrease brand loyalty, and may even cause consumers to switch to substitute products. Thus, an increase in product recalls can become a major challenge for the growth of the global market during the forecast period.
Key Deli Meat Market Customer Landscape
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 Deli Meat 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.
Butcher On The Block - The company under this segment offers beef products, wine and beer, seafood, and deli products. The key offerings of the company include deli meats.
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.
Technavio categorizes the global deli meat 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 research report has extensively covered external factors influencing the parent market growth during the forecast period.
The market share growth by the cured deli meat segment will be significant during the forecast period. Cured deli meats are commercially prepared with salt, nitrites additives, and other preservative chemicals to preserve flavor and color. Curing extends the life of the meat, primarily by removing moisture and altering its flavor.
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The cured deli meat segment was valued at USD 82.90 billion in 2017 and continued to grow until 2021. Cured deli meats are generally used in packaged deli meat products as the use of preservatives and food additives improves their shelf life. The popularity of packaged meats as an RTE option has been one of the primary factors driving their growth. The demand for flavored RTE and ready-to-cook meats among people is increasing, led by growing urbanization and increasing demand for convenience foods and dishes. The hectic lifestyle of consumers leaves them with less time to cook from scratch, leading to the demand for such on-the-go food products. In addition, cured meats possess deep and complex flavors created by bacteria, yeasts, and enzymes during the curing process, which makes them appealing to consumers seeking new meat flavors. In line with this, many leading vendors in the market are introducing cured deli meats in the market. Thus, the demand for cured deli meats will drive the growth of the segment in the global market during the forecast period.
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North America is estimated to contribute 32% 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.
The US and Canada are the major markets in North America and exhibit high growth potential led by increasing demand for packaged deli meat as convenience snacking options and growing awareness about the health benefits of protein-based diets in strengthening the body and supporting a healthy and active lifestyle. Consumers are consuming deli meat to supplement their diet, while time-pressed consumers consume deli meat as a substitute for lunch. Many vendors in the deli meat in North America have been introducing innovations in their product offerings to capitalize on the emerging trends in health, offering consumers new natural flavors and textures to maintain consumer interest in product categories. Such factors will boost the regional market growth during the forecast period.
Furthermore, the growing demand for healthy, tasty, and convenient foods and snacks, rise in the number of product launches featuring new flavors; product innovation by vendors, such as the introduction of high-protein/low-preservative products and naturally cured and flavored products, and the availability of more deli meat products at the retail level are the major factors expected to impact the market in North America during the forecast period.
In 2020, the COVID-19 pandemic affected the region's economy in different ways. The demand for deli meat from end-users, such as household residents, increased in 2020 as there was a rise in demand for packaged food during this period. Moreover, vaccination programs in 2021 helped business activities to resume after the lifting of lockdowns. Hence, the regional market in focus is expected to grow at a moderate pace during the forecast period.
The 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.
Deli Meat 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 7.78% |
Market growth 2023-2027 |
USD 76.75 billion |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
7.59 |
Regional analysis |
North America, Europe, APAC, Middle East and Africa, and South America |
Performing market contribution |
North America at 32% |
Key countries |
US, China, Germany, France, and Italy |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
Boars Head Brand, BRF SA, Butcher On The Block, Cargill Inc., Conagra Brands Inc., CrisTim Group, Dutch Valley Meats, Evans Meats and Seafood Inc., Hormel Foods Corp., JBS SA, Maple Leaf Foods Inc., Nestle SA, Pocino Foods Co., Samworth Brothers Ltd., Seaboard Corp., Sierra Meat and Seafood, Sigma Alimentos SA de CV, The Kraft Heinz Co., and Tyson Foods Inc. |
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. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
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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