Deli and refrigerated meat market at $17.6 billion
February 19, 2008
by FoodBusinessNews.net Staff
NEW YORK — The market for refrigerated processed meats is at $17.6 billion, according to "U.S. Market for Deli and Other Refrigerated Processed Meats," a new report from market researcher Packaged Facts.
The industry is led by cold cuts, which had $7.1 billion in sales, or approximately 40% of the market in 2007.
"The consumers’ demand for foods that can be located, purchased and eaten with minimal fuss will only grow, but their desire for foods that are fresher and healthier will also increase," said Cathy Minkler, associate editor of Packaged Facts. "Marketers have lucrative opportunities among aging baby boomers and younger consumers who have grown up in the organic era."
An increase of 2.5% per year is expected during the next five years with refrigerated processed meats accounting for $19.1 billion by 2012. The slower growth rate is a result of U.S. economic conditions.
While consumer desire for health, wellness and convenience will attribute to the market, the report said there are opportunities for marketers to capitalize with increased product development in healthier or organic meats and in alternative products.