Global chilled and deli food market is expected to observe significant growth on account of increasing demand for ready to eat products in developing regions mainly Asia Pacific. They have been available in U.S., UK and other industrialized economies since 1960s. Emerging economies in Asia Pacific including India and China is expected to show a high demand on account of developments in retail sector.
Chilled and deli products are defined as ready to eat consumables stored at refrigeration temperatures (chilled at 5°C) whereas frozen items need not be ready to eat and are stored at 0° C. Key requirement for these products are high quality and microbiological safety at the time of consumption. Chilled products are not expected to be preserved and depend on careful handling and storage.
Global market for these ready to eat products are driven primarily on account of busy life schedule. Population is shifting their focus towards such items which are easily prepared and consumed. Chilled products are easy to consume. These consumables are convenient for those having cooking time as a constraint.
Therefore, changing consumer lifestyle coupled with time saving product features are expected to increase overall consumption in the future. In addition, these products are standardized in taste and quality which increases consumer satisfaction levels for consumables. Consumers also get large variety of products depending on their appetite, taste, budget and nutrient content which in turn is expected to positively impact overall market growth over the forecast period.
The retail sector plays an important role in overall development of chilled and deli food industry. Good storage facilities and refrigeration techniques are essential to deliver the goods with high quality. In North America and Western Europe, hyper markets and super markets are the main retailers who supply the products to the end consumer.
Asian market is mostly dependent on convenient stores and Mom and Pop stores. Japan has shown a considerable growth in chilled products sale on account of wide network of Seven-Eleven convenient stores.
Simultaneous growth of fresh items industry acts a barrier for the overall growth of chilled items industry. This industry requires good storage facilities and refrigeration methods. Ready to eat food products offers no customization which may disappoint consumers. Demand prediction is also expected to establish as a serious market challenge in case of any seasonal fluctuations.
Therefore, inventory carrying cost turns out to be a concern for the retail stores. Global chilled and deli product market is segmented based on the product type which includes meat, pies, packed sandwiches and salads. The meat category dominated global market. Sandwich and salad categories are expected to show a high demand over the forecast period on account of health awareness.
Packed sandwiches demand has been increasing as it provides a balanced diet. Rising demand for salads in US is expected over the forecast period on account of consumers switching to vegan diet products. Further, attracting items including pizza and pasta are expected to fill the product line of this industry.
The demand for diet type is highly dependent on regional lifestyle. Asia leads the market and is expected to show its dominance over the forecast period on account of improving economic conditions. China and India are expected to show a rapid growth as a result of increasing population of working women.
North America observed a high demand on account of hectic lifestyle of consumers and well established retail sector. Well established hyper markets and super markets are expected to drive the overall demand in USA. The regional demand is followed by Europe including countries like UK, France and Germany on account of westernization.
There is an opportunity for expansion in Eastern Europe. South America and Africa are expected to show a steady growth, however the retail sector needs improvement in terms of infrastructure for refrigeration and storage. Recent trends have shown major processing companies entering into chilled products market.
On 22nd July 2015, Nestle opened a research and development center in Solon, Ohio. The aim was to transform the way the world enjoys chilled consumables. Key players operating in global chilled and deli items industry are Waitrose Limited, Tyson Foods, Nestle, JBS, Kraft Foods Group, BR, Hormel Foods Corporation, 2 Sisters Food Group, Wm. Morrison Supermarkets PLC, Astral Foods Ltd., and Samworth Brothers Limited.
Other players include Addo foods, Daniels chilled food, Del Monte, Flamingo and Kerry foods. These major players face a stiff competition from local players and private labels who offer low cost alternatives. Global business organizations are legally responsible for safety of their consumers.
Associations include CFA(Chilled food association),European chilled food federation offer best practice guidelines for safe manufacturing. Operators need to invest in technology to process consumables without human touch so as to maintain hygiene. It has become necessary for the retailers to predict the actual demand so as to reduce holding cost, increase response time and to avoid any kind of wastage.
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