Rise in demand for ready-to-eat/ready-to-cook food products, strong branding and promotion of organic deli meat by the market players, and increase in demand for animal protein have boosted the growth of the global deli meat market.
PORTLAND, Ore., May 9, 2022 /PRNewswire/ -- Allied Market Research recently published a report, titled, "Deli Meat Market by Source, (Beef, Pork, Chicken, and Others), Product Type (Cured Meat and Uncured Meat), and Sales Channel (Hypermarkets/Supermarkets, Specialty Stores, Convenience Stores, Online Channels, and Others): Global Opportunity Analysis and Industry Forecast, 2021-2030". As per the report, the global deli meat industry was accounted for $17.18 billion in 2020, and is expected to reach $27.40 billion by 2030, growing at a CAGR of 4.8% from 2021 to 2030.
Drivers, restraints, and opportunities
Rise in demand for ready-to-eat/ready-to-cook food products, strong branding and promotion of organic deli meat by the market players, and increase in demand for animal protein have boosted the growth of the global deli meat market. However, presence of nitrates and nitrites in deli meat and availability of plant-based meat hamper the market growth. On the contrary, surge in consumer inclination toward flavored & processed foods and advent of innovation in deli meat products are expected to create lucrative opportunities in the future.
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Covid-19 scenario:
- The Covid-19 pandemic and prolonged lockdown disrupted the supply chain in the food & beverage sector across the globe. The consumption habits of people witnessed a significant change throughout the Covid-19 pandemic, especially due to the risks associated with the infection. However, companies failed to meet the rise in demand for meat products.
- Moreover, the use of nitrates and nitrites in deli meat can lead to cardiovascular problems in consumers, which affected its demand during the pandemic.
- However, rise in vaccination drives and several relaxations in the lockdown measures have helped the market to get back on track.
The pork segment held the largest share
By source, the pork segment held the largest share in 2020, accounting for nearly two-fifths of the global deli meat market. In addition, the segment is expected to register the highest CAGR of 5.2% during the forecast period, owing to its popularity for smooth taste and surge in availability in the market.
The cured meat segment dominated the market
By product type, the cured meat segment held the lion's share in 2020, contributing to more than three-fourths of the global deli meat market, due to its wide availability and unique taste. However, the uncured meat segment is estimated to manifest the highest CAGR of 5.8% from 2021 to 2030, owing to the health benefits associated with deli meat as it is free from nitrates and nitrites.
North America held the largest share
By region, the global deli meat market across North America dominated in 2020, holding nearly two-fifths of the market, owing to rise in demand for deli meat in the region. However, the market across Asia-Pacific is expected to register the highest CAGR of 6.1% during the forecast period, due to rise in demand and adaption of innovation deli meat products among consumers in the region.
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Major market players
- AeroVironment Inc.
- Autel Robotics
- DJI Technology
- Draganfly Inc.
- Elbit Systems Ltd.
- Israel Aerospace Industries Ltd. (IAI)
- IMSAR LLC
- Northrop Grumman Corporation
- Parrot SA
- Teledyne FLIR LLC.
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