LONDON--(BUSINESS WIRE)--According to Technavio Research Report “Deli Meat Market by product (cured deli meat and uncured deli meat) and geography (APAC, Europe, MEA, North America, and South America) is witnessed to grow USD 114.18 billion, at a CAGR of 11% from 2019 to 2023”.
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Global Deli Meat Market: Rising demand for organic and natural deli meats
Increasing awareness regarding the health benefits of organic foods such as organic deli meats has increased their consumption. Consumers are becoming increasingly aware of the ingredients in the foods that they consume owing to the increasing prevalence of diseases across the world. Consequently, the demand for organic meats has been increasing when compared with regular processed meats.
“The global organic meat market is expected to grow significantly during the forecast period. Several major players in the market have been focusing on strengthening their presence in the organic meat segment to meet the rising demand,” says a senior research analyst at Technavio.
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Global Deli Meat Market: Growth in organized retail
A key driver for the global deli meat market is the growth in organized retail. Significant revenue is being generated from the sale of deli meats through organized retail channels such as supermarkets and hypermarkets. Growing global urbanization has increased the importance of convenience food. As supermarkets and hypermarkets stock a wide assortment of products, they are becoming the preferred shopping destination for consumers. These retail outlets are the largest sales channels for deli meat, and hence the rising penetration of supermarkets and hypermarkets makes deli meat more accessible to a broader consumer base.
Few Major Players for the Deli Meat Market are:
- BRF S.A.
- Cargill, Incorporated
- Hormel Foods Corporation
- Tyson Foods.
Global Deli Meat Market: Segmentation analysis
This deli meat market analysis report segments the market by product (cured deli meat and uncured deli meat) and geography (APAC, Europe, MEA, North America, and South America).
The cured deli meat segment held the largest deli meat market share in 2018. The popularity of packaged meats as a ready-to-eat (RTE) option is one of the major factors driving the growth of this segment. North America accounted for the highest share of the market in 2018. Growing demand for healthy, tasty, and convenient foods and snacks, a rising number of product launches featuring new flavors, and the availability of more deli meat products at the retail level are some of the factors that will drive market growth in North America.
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