Research Support Specialist, USA
The global deli meat market size is expected to reach USD 90.94 billion by 2028, according to a new report by Million Insights. It is expected to expand at a CAGR of 6.9% from 2021 to 2028. The rising spending on healthy food, increasing disposable income, and growing organized retail channels are driving the market. The popularity and consumption rate of deli meat are increasing among non-vegetarian lovers.
The uncured product segment is expected to register the fastest CAGR of 9.9% from 2021 to 2028. Consumers are getting aware of the benefits of natural salts and flavors used for deli meat. Increasing awareness about naturally produced products is contributing to the growth of the segment.
The chicken and turkey dish segment is expected to register the fastest CAGR from 2021 to 2028 as it is economical and convenient for farming chicken and turkey. Hence, chicken and turkey are adopted most for producing eggs, meat for food, or money.
The online distribution channel segment is expected to expand at the highest CAGR of 7.7% from 2021 to 2028. The use of online shopping portals and mobile apps is getting popular in the metro cities among the young population group, who are the industry's major consumers at the global level.
North America dominated the market with a revenue share of more than 30.0% in 2020 owing to the increase in awareness about the ingredients of meat products and the importance of their consumption.
Asia Pacific is expected to expand at the fastest growth rate over the forecast period as the region has the largest consumer base, which increases the consumption of meat products and contributes to the revenue of the regional market. Companies are looking to maintain their brand image and gain customer loyalty by offering innovative products as per customer specifications and analyzing consumer behavior patterns.
The report “Deli Meat Market Size, Share & Trends Analysis Report By Product (Cured, Uncured), By Dish (Chicken & Turkey, Beef, Pork), By Distribution Channel (Offline, Online), By Region, And Segment Forecasts, 2021 - 2028” is available now to Million Insights.
Million Insights has segmented the global deli meat market on the basis of product, dish, distribution channel, and region: