The global deli meat market size was valued at USD 53.46 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 6.9% from 2021 to 2028. An increasing number of organized meat retail channels and rising awareness about the food ingredients requirement in the human body are expected to expand the market reach over the next few years. Considering the safety of living things, the government authorities published rules and regulations to provide meat consumption. Preference for meat is increasing among consumers owing to the growing awareness of the consumption of meat and its benefits. It is useful to overcome health challenges, such as deficiencies and weaknesses. The manufacturers offer a wide range of meat as food such as chicken and turkey, beef, and pork. However, government guidelines implantation in countries such as the U.S., Germany, the U.K., and Australia. For instance, the Food Safety and Inspection Service (FSIS) monitors and ensures food safety via the Federal Meat Inspection Act and the Poultry and the Egg Products Inspection Act.
Additionally, the Humane Methods of Slaughter Act (HMSA) takes care of animals during the handling and growth of the animal. The government's published safety guidelines for meat ensure the quality of meat food, which will boost the market growth. During the COVID-19 pandemic, there was an increase in demand for meat due to the benefits of meat consumption, such as improved immunity, and consumers were continuing to spend more on meat.
Over the past few years, the uncertainty in the production expenditure of deli meat on account of the strong capital spending, along with the fluctuating prices of raw materials, is projected to negatively impact the profit margins. The industry is dominated by firms, along with alliances with region-based companies and retailing channels. The growing utilization of e-commerce portals for selling deli foods by companies across developing countries, including China and India, is projected to compel the industry participants to adopt new strategies.
The chicken and turkey segment dominated the market and accounted for a revenue share of more than 30.0% in 2020. The segment is expected to witness the fastest growth over the forecast period. Chicken and turkey are economical and convenient for farming, hence chicken and turkey are adopted most for producing eggs, meat for food or money. Chicken and turkey dish is most popular among the consumers due to taste and time required for cooking.
Beef is expected to register the second-highest CAGR from 2021 to 2028. The increasing awareness about the importance of beef in recovering damaged tissues and improving the immunity system as beef contains Zinc is expected to increase the consumption and growth rate of the beef segment.
The offline segment dominated the market and accounted for a revenue share of more than 70.0% in 2020. Deli meat producers use traditional retail channels, such as supermarkets, department stores, and hypermarkets, to sell deli meat products. Such retail channels are expected to maintain their lead as the offline channel provides selection and verification to the buyers.
The online segment is expected to register the fastest CAGR of 7.7% from 2021 to 2028. The use of online shopping portals and mobile apps is getting popular among the young population group, who are the industry's major consumers at the global level.
The cured segment of deli meat held the largest revenue share of more than 60.0% in 2020. The easy availability of artificial chemicals and additives, such as antioxidants, binders, emulsifiers, antimicrobials, curing agents/accelerators, flavoring agents, and coloring agents, for meat has increased the production of cured deli meat.
The uncured segment is expected to expand at the fastest CAGR of 9.9% from 2021 to 2028. With the increasing awareness about the adverse impacts of artificial chemicals and additives on health, the consumers’ inclination has been shifting toward the consumption of uncured meat products. Increased demand for organic salts and flavor of deli meat is contributing to the growth of the market over the next few years.
North America dominated the market for deli meat and accounted for a revenue share of over 30.0% in 2020. In the region, particularly in countries like the U.S. and Canada, increasing awareness among the citizens about the benefits of meat consumption is expected to drive the demand for the product over the next few years.
In Asia Pacific, the market is expected to register the highest CAGR of 8.9% from 2021 to 2028. In countries like China and Australia, eating deli meat has been gaining popularity among consumers for maintaining health and immunity power in the body. This factor is boosting the growth of the market in the region.
The market for deli meat is characterized by the presence of various well-established players and several small and medium players. In January 2021, Butterball, a turkey and other poultry products brand, announced to invest USD 8.7 million in processing facilities in Arkansas (U.S.). The company planned to expand operations and production facilities and upgrade the processing equipment at Huntsville & Ozark, Arkansas (U.S.). Such initiatives are expected to boost market growth. The deli meat producers are aggressively following organic as well as inorganic strategies to expand the footprint across the market. Some prominent players in the global deli meat market include:
|
Report Attribute |
Details |
|
Market size value in 2021 |
USD 56.27 billion |
|
Revenue forecast in 2028 |
USD 90.94 billion |
|
Growth Rate |
CAGR of 6.9% from 2021 to 2028 |
|
Base year for estimation |
2020 |
|
Historical data |
2017 - 2019 |
|
Forecast period |
2021 - 2028 |
|
Quantitative units |
Revenue in USD million/billion and CAGR from 2021 to 2028 |
|
Report coverage |
Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
|
Segments covered |
Product, dish, distribution channel, region |
|
Regional scope |
North America; Europe; Asia Pacific; Central & South America; Middle East & Africa |
|
Country scope |
U.S.; Germany; U.K.; China; Australia; Brazil; Argentina; Saudi Arabia; Israel |
|
Key companies profiled |
Boars Head Brand; BRF; Cargill; Hormel Foods, LLC.; JBS SA; Maple Leaf Foods Inc.; Sigma Alimentos SA de CV; Tyson Foods, Inc. |
|
Customization scope |
Free report customization (equivalent up to 8 analysts’ working days) with purchase. Addition or alteration to country, regional & segment scope. |
This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2017 to 2028. For the purpose of this study, Million Insights has segmented the global deli meat market report on the basis of product, dish, distribution channel, and region:
Sign up today.
Call us at +1-408-610-2300 to speak with a
representative.
All Reports
