The deli meat market will register a CAGR of almost 11% by 2023

LONDON, Feb. 20, 2019 /PRNewswire/ -- About this market
The sale of deli meats through organized retail channels such as supermarkets, hypermarkets generates significant revenues. The increasing urbanization globally has decreased the availability of time among customers, which has increased the importance of convenience food. This expansion of organized retail sector with the increasing number of supermarkets, hypermarkets, and specialty stores has been driving the sales of deli meat products globally, which is expected increase during the forecast period. With the growth in population, the need for supermarkets has increased amid rising demand for efficient food distribution. As supermarkets and hypermarkets are among the largest sales channels for deli meat, the growth in the number and penetration of these modern retail channels has helped in making deli meat more accessible to a wider consumer base. Technavio's analysts have predicted that the deli meat market will register a CAGR of almost 11% by 2023.

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Market Overview
Increase in product launches
The growing number of product launches is raising awareness, versatility, and the availability of new and innovative flavors of deli meats in the market. Manufacturers of meat products are adopting innovative and distributive strategies to increase the market size of these products. New product launches by regional and international players have been one of the primary factors contributing to the growth of the market.
Growth in popularity of vegan diets and plant-based proteins
The growing popularity of vegan diets and plant-based proteins is one of the negative trends that can influence the market during the forecast period. Veganism is termed as the practice of abstaining from the use of animal products, particularly in the diet. The number of consumers adopting veganism is rising globally because of health benefits such as the reduced risk of obesity and healthier heart.
For the detailed list of factors that will drive and challenge the growth of the deli meat market during the 2019-2023, view our report.

Competitive Landscape
The market appears to be moderately fragmented and with the presence of several companies. This market research report will help clients identify new growth opportunities and design unique growth strategies by providing a comprehensive analysis of the market's competitive landscape and offering information on the products offered by companies.

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The deli meat market will register a CAGR of almost 11% by 2023
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