The global cold cuts market is expected to be valued at USD 483.71 billion in 2023 and is projected to reach a valuation of USD 1,073.66 billion by 2033. The demand for cold cuts is estimated to record a steady 8.3% CAGR.
Expanding urban populations, rising on-the-go food demand, and increasing consumer awareness of various cold cuts due to travel and exposure are a few factors influencing the cold cuts market's current growth spurt.
The top four trends in the market for cold cuts are as follows
Fresh Cold Cuts Replace Frozen Cold Cuts
In the past, cold cuts were not always up to consumers' tastes, availability, and price expectations. However, the trend has changed in the past 5 years, with the adoption of fresh cold cuts being significant in developed cities. Consumers now prefer fresh and chilled cold cuts over frozen due to better taste and nutritional value.
Specialty markets and meat shops were initially the main places to find fresh cold cuts, but now conventional grocers are getting in on the action with dedicated charcuterie counters.
Quality and Ingredients are the Focus
Consumers are willing to pay more for high-quality ingredients and quality. With growing health awareness, there is increasing demand for cold cuts made from natural and healthy cuts, such as hormone-free and antibiotic-free meats.
Manufacturers focused on providing quality have benefited from readily available information to consumers. Producers are now pushing the envelope with flavorful ingredients such as imported spices and quality cheese in the meats, as well as smoky or spicy offerings.
Spotlight on Labels
Consumers have become avid label readers, especially when it comes to meat products. They are interested in not only how the products are made but also how the animals are raised.
Transparency is now a top priority for consumers, leading to an increase in clean labeling and the use of nutritious ingredients. Products and brands that focus on transparency claims, such as those made with no artificial ingredients, sustainable sourcing, and quality ingredients, have been growing in popularity. Products made from heritage breeds, which are humanely raised and bred for consistent taste and flavor, are also getting a lot of attention.
A Health-based and Evolving Palate-driven Approach to Innovation
Consumers continue to focus on being health-conscious and aware of what they put into their bodies. Cold cut categories have been making strides to appeal to health-conscious consumers, such as offering products with fewer ingredients and healthier attributes.
Brands such as Prasuma have given consumers access to their favorite cold cuts, and many are choosing socially responsible, charitable, and authentic brands.
| Attributes | Details |
|---|---|
| Cold Cuts Market CAGR (2023 to 2033) | 8.3% |
| Cold Cuts Market Size (2023) | USD 483.71 billion |
| Cold Cuts Market Size (2033) | USD 1,073.66 billion |
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The global need for cold cuts is anticipated to expand at a CAGR of 8.3% between 2023 and 2033. The growth potential of the demand for cold cuts could be looked at from short-term, mid-term, and long-term perspectives.
| Short-term Outlook (2023 to 2026) | Companies in the cold-cuts market are increasingly focused on sustainability, from sourcing high-quality ingredients from sustainable sources to reducing packaging waste. This is becoming an important consideration for consumers and companies are responding by making sustainability a priority. |
|---|---|
| Mid-term Outlook (2026 to 2029) | Companies are increasingly using health and wellness labeling, such as ‘gluten-free’ or ‘low-sodium,’ to appeal to health-conscious consumers. This is becoming an important consideration for consumers and companies are responding by offering cold cuts that meet specific dietary needs. |
| Long-term Outlook (2029 to 2033) | Consumers are increasingly seeking out food products that are customized to their individual needs and preferences, including cold cuts. Companies are responding by offering personalized cold cuts, such as sampler packs, which allow consumers to try a variety of different flavors and varieties. |
Health and Wellness Trend
Consumers are becoming more health-conscious and are seeking healthier food options. Cold cuts are perceived as healthier than traditional processed meat products, as they are made from high-quality ingredients and are often lower in sodium, fat, and other unhealthy additives. This has driven demand for cold cuts among health-conscious consumers.
Urbanization
Urbanization is leading to the spreading of urban residents with higher disposable incomes. These consumers are more likely to seek out high-quality food products, including cold cuts, due to their increased purchasing power.
Innovations in Product Development
Companies in the cold cuts market are investing in research and development to develop new and improved cold cuts products that appeal to changing consumer preferences. This has led to the development of new and innovative cold cuts products, including organic and specialty cold cuts, which are driving growth in the market.
Opportunity in Emerging Economies
The market for cold cuts is growing in emerging economies, including Asia, the Middle East, and South America. These markets offer significant opportunities for companies looking to expand into these regions and tap into the growing demand for high-quality food products, including cold cuts.
New Product Development
There is a growing demand for new and innovative cold cuts products, providing opportunities for companies to differentiate themselves in the market. This includes developing new and unique flavor combinations, as well as offering cold cuts made from alternative proteins, such as plant-based meats.
Growing Demand for Organic and Specialty Cold Cuts
There is a growing demand for organic and specialty cold cuts, providing opportunities for companies to differentiate themselves in the market and tap into this growing segment. These cold cuts are typically made from high-quality ingredients and are often free from unhealthy additives, making them an attractive option for health-conscious consumers.
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Health Issues
Cold cuts often contain high levels of sodium, fat, and preservatives, which can be harmful to consumers. This has resulted in a rising demand for healthier options and a drop in the consumption of traditional cold cuts.
Food Security Risks
Cold cuts are susceptible to contamination with dangerous bacteria such as Listeria and Salmonella, which can be a threat to public health. This has led to increased regulations and greater scrutiny of the production process.
Competition from Other Protein Sources
With the growing trend towards plant-based and alternative protein sources, cold cuts are facing increased competition from products such as tofu, tempeh, and seitan.
Rising Costs of Raw Materials
The cost of raw materials such as meat, spices, and packaging has gone up in recent years, leading to higher prices for cold cuts and reduced profitability for manufacturers.
Evolving Consumer Preferences
Consumers are increasingly seeking locally sourced, organic, and sustainable products, which can present a challenge for large-scale cold cuts producers.
Consumers in the United States are becoming increasingly busy and are looking for convenient, high-quality food options, including cold cuts, which are seen as quick and easy options for snacks and meals. The United States population is growing, providing a larger market for cold cuts and other food products.
As the economy continues to grow, disposable incomes are rising, leading to increased demand for high-quality food products.
Consumers in the United States are also becoming more health-conscious and are seeking out cold cuts that are perceived as healthier than traditional processed meat products.
The United Kingdom has a strong tradition of high-quality food production and a well-established cold cuts market. The country also has a large and growing population, with a strong demand for convenient food products.
In addition, the United Kingdom has a highly developed food industry, with a strong focus on research and development, which allows for continued innovation and growth in the market.
China has the largest population in the world, with over 1.4 billion people. This large population provides a large market for cold cuts and other food products. China's middle class is rapidly growing, with increasing purchasing power and growing demand for high-quality, convenient food products.
China's urbanization rate is increasing, leading to surging urban residents with higher disposable incomes. This is expected to drive growth in the cold cuts market, as consumers in urban areas are more likely to purchase convenient, high-quality food products.
The country has a large and growing middle class with increasing purchasing power, and a growing demand for high-quality, convenient food products. Additionally, the Indian food industry has been rapidly growing in recent years, driven by changing consumer preferences, urbanization, and a rising population.
The cold cuts market in India is expected to grow in the coming years, as consumers become more aware of the convenience and health benefits of these products. This, combined with the increasing availability of cold cuts in India, is likely to drive market growth.
However, it's important to note that the Indian market is highly regulated, and there are stringent food safety and labeling requirements that companies must adhere to. Additionally, there is strong competition in the market, so companies are likely to focus on differentiation and innovation to succeed.
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The market is divided into packaged and deli segments by product. For the packaged product segment, the growing demand for convenience and high-quality food products is expected to drive growth.
Consumers are increasingly looking for packaged cold cuts that are ready to eat and can be easily stored, making them a popular choice for busy individuals and families.
Additionally, advancements in packaging technology and food preservation techniques have enabled companies to offer longer shelf life and better quality products, further boosting the growth of this segment.
The deli product segment is also expected to experience growth, driven by the increasing popularity of specialty and artisanal products.
Consumers are seeking unique and high-quality cold cuts, and delis and specialty food shops offer a wider range of products than traditional grocery stores.
The growth of the food service sector, particularly in the restaurant and food truck segments, is also expected to drive demand for deli products.
Top Companies in the Cold Cuts Market
Tyson Foods
Tyson Foods is a leading producer of meat-based food products. The company operates in the United States and internationally, producing a wide range of beef, pork, and poultry products. It is one of the leading processors of beef, pork, and chicken in the world.
Smithfield Foods
Smithfield Foods is a subsidiary of WH Group, one of the prominent pork producers in the world. The company is known for its high-quality cold cuts, including ham, bacon, and sausages. It operates in the United States and internationally, serving customers around the world.
JBS USA
JBS USA is a subsidiary of JBS S.A., one of the leading meat processors in the world. The company produces a wide range of cold cuts, including ham, bacon, and sausages. JBS USA operates in the United States, Canada, and Australia, providing customers with high-quality meat products.
Hormel Foods
Hormel Foods is a multinational food company that produces a wide range of food products, including cold cuts. The company is known for its high-quality meats, including ham, bacon, and sausages. Hormel Foods operates in the United States and internationally, serving customers around the world.
The market is valued at USD 483.71 billion in 2023.
Food security risks limit the market expansion.
By 2033, the market is expected to reach USD 1,073.66 billion.
The growth potential of the market is 8.3% through 2033.
Health and wellness trend is the key market driver.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Type 5.1. Ham 5.2. Salami 5.3. Roast Meat 5.4. Meatloaf 5.5. Bierwurst 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Source 6.1. Beef 6.2. Pork 6.3. Chicken 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Sales Channel 7.1. Hypermarkets/Supermarkets 7.2. Specialty Stores 7.3. Convenience Stores 7.4. Online Channels 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 8.1. North America 8.2. Latin America 8.3. Europe 8.4. Asia Pacific 8.5. MEA 9. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. Asia Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. MEA Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. Key Countries Market Analysis 15. Market Structure Analysis 16. Competition Analysis 16.1. Boars Head Brand 16.2. BRF SA 16.3. Cargill Inc. 16.4. Casa Tarradellas SA 16.5. Hormel Foods Corp. 16.6. Maple Leaf Foods Inc. 16.7. Seaboard Corp. 16.8. The Kraft Heinz Co. 16.9. Tyson Foods Inc. 16.10. WH Group Ltd. 17. Assumptions & Acronyms Used 18. Research Methodology
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Cold Cuts Market
