Portland, OR, Dec. 15, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the Central America and South America deli meat market garnered $921.2 million in 2021, and is estimated to generate $1.6 billion by 2031, manifesting a CAGR of 6.0% from 2022 to 2031. The report provides an extensive analysis of changing market dynamics, major segments, value chain, competitive scenario, and regional landscape. This research offers a valuable guidance to leading players, investors, shareholders, and startups in devising strategies for the sustainable growth and gaining competitive edge in the market.
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Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $921.2 million |
| Market Size in 2031 | $1.6 billion |
| CAGR | 6.0% |
| No. of Pages in Report | 204 |
| Segments covered | Source, product type, sales channel, and region |
| Drivers | Pre-cooked deli meat products are extremely convenient, less time-consuming, cost-efficient, and fulfill the requirement of protein |
| Opportunities | The introduction of flavored and processed meat in the market |
| The inclination of consumers toward flavored and processed meat products | |
| Restraints | Rise in the vegan population |
Covid-19 Scenario:
· The outbreak of the COVID-19 pandemic had a negative impact on the growth of the Central America and South America deli meat market, owing to implementation of global lockdown which resulted to temporary closure of meat processing factories, particularly poultry and pig facilities.
· However, with ease in restrictions, the demand for deli meat products is likely to increase, thereby providing growth to the market in the post-pandemic.
The research provides detailed segmentation of the Central America and South America deli meat market based on source, product type, sales channel, and region. The report discusses segments and their sub-segments in detail with the help of tables and figures. Market players and investors can strategize according to the highest revenue-generating and fastest-growing segments mentioned in the report.
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Based on source, the beef segment held the highest share in 2021, accounting for more than two-fifths of the Central America and South America deli meat market, and is expected to continue its leadership status during the forecast period. However, the pork segment is expected to register the highest CAGR of 8.0% from 2022 to 2031.
Based on product type, the dry cured meat segment accounted for the highest share in 2021, contributing to more than two-thirds of the Central America and South America deli meat market, and is expected to maintain its lead in terms of revenue during the forecast period. However, the uncured deli meat segment is expected to manifest the highest CAGR of 6.6% from 2022 to 2031.
Based on sales channel, the hypermarkets/supermarkets segment accounted for the highest share in 2021, holding nearly two-fifths of the Central America and South America deli meat market, and is expected to continue its leadership status during the forecast period. However, the online channels segment is estimated to grow at the highest CAGR of 7.9% during the forecast period.
Based on region, South America held the largest share in 2021, contributing to more than 90% of the Central America and South America deli meat market share, and is projected to maintain its dominant share in terms of revenue in 2031. However, the Central America region is expected to manifest the fastest CAGR of 6.9% during the forecast period.
Leading market players of the Central America and South America deli meat market analyzed in the research include Boar's Head Provisions Co., Inc., Cargill, Incorporated, Conagra Brands, Inc., Hormel Food Corporation, JBS S/A, Kraft food group, Maple Leaf Food, Inc., Rey Chavez Distributors Corporation, Saval Foodservice, and Tyson Food, Inc.
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The report provides a detailed analysis of these key players of the Central America and South America deli meat market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
