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.
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.
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.
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.
