|
|
|
You can get e-magazine links on WhatsApp. Click here
|
|
|
|
|
|
Hassle-free food ups demand for cold cuts; market to be US$1,179.52 bn
|
|
Tuesday, 12 September, 2023, 08 : 00 AM [IST]
|
|
Our Bureau, Mumbai
|
The global cold cuts market is valued at US$498.24 billion in 2023. As per this latest study by Fact.MR, worldwide demand for cold cuts is predicted to rise at a CAGR of 9% and reach a market size of US$1,179.52 billion by 2033.
Cold cuts, also referred to as luncheon meats, deli meats, or sliced meats, are precooked or cured meat products. They are typically available in sliced form. They are popularly used in sandwiches, salads, and appetisers. Cold cuts can be made from a variety of meats such as beef, pork, chicken, turkey, and sometimes even combinations of these meats. Some of the common types of cold cuts include turkey breast, ham, roast beef, salami, bologna, and pastrami.
Key Market Drivers
- Busy and on-the-go lifestyles are leading to higher demand for convenient and quick meal options, including cold cuts, a popular choice for sandwiches and snacks.
- Cold cuts are easy, ready-to-cook, and satisfying meals. This is especially attracting people seeking a fast and hassle-free lunch or snack option.
- Culinary and cultural diversity in many regions is resulting in higher demand for a variety of cold cut options to cater to different tastes and preferences.
- Growing consumer focus on buying clean-label products is enabling top cold cut brands to work on transparency in labelling to build trust with consumers.
Cold Cuts Industry Statistics
- Short Term (2023 to 2026): Key suppliers of cold cuts are prioritising sustainability by sourcing eco-friendly and organic ingredients and minimising packaging waste in response to the growing eco-conscious consumer base.
- Mid Term (2026 to 2029): Key producers of cold cuts to use health and wellness labels such as gluten-free or low-sodium to attract health-conscious consumers who look for such labels while buying. Companies are expected to offer cured meat products that cater to specific dietary needs.
- Long Term (2029 to 2033): Product innovation, including premium & specialty cold cuts and artisanal offerings, is expected to cater to evolving consumer tastes and preferences.
Refrigerated Cold Cuts Suppressing Frozen Varieties Long-back, cold cuts were not on some consumers’ preference lists because of their taste, availability, and price. However, a noteworthy transformation has occurred over the last five years, especially in developed urban regions. Several consumers have a strong preference for fresh and refrigerated cold cuts as opposed to frozen varieties, primarily due to their superior taste and nutritional qualities.
Clean-label Trend Driving Revenue of Cold Cut Manufacturers
Growing trend of health and wellness is shifting consumer preferences toward high-quality and organic food products, including cold cuts. One of the prominent trends in the cold cuts market is the increasing demand for products with clean labels. Clean labels refer to packaging and ingredient lists that convey transparency and minimal processing, often featuring natural and recognisable ingredients.
Versatile Packaged Cold Cuts Widely Consumed By Foodservice Businesses
The foodservice industry, including restaurants, cafes, delis, food trucks, and catering services, is a significant consumer of cold cuts. These versatile meat products are playing a pivotal role in enhancing menus and meeting customer preferences in various ways.
Packaged cold cuts and cured meats are prime choices for consumers, chefs, and foodservice professionals due to their versatility. They can be used in various culinary applications, from crafting classic sandwiches and hearty salads to elevating gourmet dishes.
Targeting Clean-label & Sustainable Practices to Increase Clientele Base
New companies are focusing on the growing demand for healthier cold cuts by offering options with reduced sodium, fewer additives, and natural ingredients. They are also focusing on transparency in ingredient lists and labelling, avoiding artificial additives and preservatives. Clean labelling possesses major power in building trust with consumers seeking natural and minimally processed products.
|
|
|
|
|
|
|
|
|
|