Even though the nutritional quotient of chilled and deli foods is not sufficient to be sustainable, efforts are being made by major players to improve it. These are likely to be driven by the increasing health awareness across the world, which has led to a large part of the consumer demographic choosing healthier alternatives to chilled foods. According to Transparency Market Research, the global chilled and deli foods market’s annual revenue is expected to be US$853.5 bn by the end of 2016 and further rise to US$988.7 bn by 2021.
Which region presents the most attractive prospects for the chilled and deli foods industry?
Due to the rapid urbanization observed in Asia Pacific and better job and educational prospects in cities, the APAC market is the focus of the key players in the global chilled and deli foods industry. Due to the poverty in rural parts of Asia Pacific, working professionals often migrate to cities without their immediate family, which creates the need for chilled and other types of prepackaged foods. This is a key driver for the Asia Pacific chilled and deli foods market, which is expected to account for around 40% of the global market by 2021.
Due to the growing availability of junk food in Asia Pacific and the consequent increase in diseases such as diabetes and hypertension, the population has also become more health-conscious. A study done by South Korea’s Centres for Disease Control and Prevention found that Korean teenagers now consumed half as much junk food as they did a decade ago. While this is not the case in many Asia Pacific countries, particularly ones in which international junk foods have entered only recently, governmental healthcare bodies are becoming more concerned about the impact of junk food on their national health scenario. This drop in junk food consumption bodes well for chilled and deli foods manufacturers focusing on improving the nutrition quotient of their products.
Which are the key product segments of the chilled and deli foods market?
Prepackaged sandwiches and prepackaged salads are the leading revenue generators in the global chilled and deli foods market, illustrating the impact of the rising health awareness on the chilled and deli foods market. The variety of fillings and toppings available in prepackaged sandwiches and salads also makes them attractive for the consumer, while manufacturers can use their high nutritional quotient to set their products apart from the competition.
The key players in the global chilled and deli foods market include Kraft Foods Group Inc., Tyson Foods Inc., Waitrose Limited, JBS S.A., BRF S.A., Samworth Brothers Limited, Sisters Food Group, and Astral Foods Ltd.