Despite the rise of plant-based meats, the global deli meat market is still growing, giving retailers with private brands insight into the category.
According to a report from Allied Market Research, the deli meat market was valued at roughly $17 billion in 2020, and is projected to reach $27.4 billion by 2030, growing at a compound annual growth rate (CAGR) of 4.8%. This data includes all types of meats available in the form of cold cuts and packed slices.
According to the deli meat market trends, the pork segment gained major share in the global market in 2020, and is expected to sustain its market share during the forecast period. Allied Market Research said that the projected growth of pork deli meats is attributed to the fact that consumers are attracted to the taste and prefer to consume pork meat more than other alternatives available in the market.
Depending on product type, the cured meat segment has gained major share in the global market 2020, and is expected to sustain its market share during the forecast period, registering a CAGR of 4.6%. Cured meat is the most popular meat product offered by manufacturers from all across the globe.
By sales channel, the supermarket segment accounted for around 39% of the global deli meat market share in 2020. The research firm attributed this to the fact that supermarkets offer a convenient experience of diverse shopping under a single roof to the consumers, including a premium advantage of various products, product discounts, the assistance of sales representatives and easy checkouts.
A sample of the report can be requested here.