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Central & South America Deli Meat Market

Central & South America Deli Meat Market Size, Share, Competitive Landscape and Trend Analysis Report by Type, Product Type, Sales Channel : Opportunity Analysis and Industry Forecast, 2022-2031

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Author's: Vidit Gite | Roshan Deshmukh
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The Central America and South America deli meat market was valued at $921.2 million in 2021 and is projected to reach $1,659.1 million by 2031, registering a CAGR of 6.0% from 2022 to 2031.

Deli meat, also known as lunch meat, is a pre-cooked or cured meat that is sliced and served cold or hot. Deli meat is made of beef, pork, chicken, turkey, veal, and bovine. The deli meats are available in the form of loaves, canned, sliced, or pre-packaged vacuum-packed portions and are most often served on sandwiches and in charcuterie trays.

The perception of the food industry in Central and South America has been based on consumer buying decisions that are influenced by three main factors taste, value, and convenience. There is a rise in the requirement for processed and ready-to-eat meals with the increase in development. Ready-to-eat meals are pre-cooked food that have a longer shelf life and are consumed on the move. In addition, these meals are gaining popularity due to the convenience offered, as they save time and no additional heating is required before consumption. Furthermore, the availability of ready-to-eat deli meats has increased over time, which has aided in the development of the change in eating patterns. Pre-cooked deli meat products are extremely convenient, less time-consuming, cost-efficient, and fulfill the requirement of protein in their diet. These benefits have increased the demand for deli meat, particularly among the working population and students. The rise in preference for deli meat is expected to increase with the surge in consumption of animal meat in the regions.

Protein is a source of amino acids, and adequate protein intake is critical for maintaining the health and development of muscles. Animal proteins are complete proteins as they contain all the essential amino acids required in a complete meal. Animal protein is linked with nutritional benefits and assists in lowering the risk of type 2 diabetes, lowering the risk of heart diseases and maintaining body weight. There is an increase in the awareness regarding nutritional benefits of animal proteins among the population and especially health-conscious consumers, therefore surging the consumption of animal protein. Higher availability of animal protein in the market due to increased livestock farming complemented by cost-effective pricing by manufacturers is encouraging them to opt for animal protein products.

The availability of meat and meat products such as deli meat, processed meat, cold cut meat, and meat by-products has attracted consumers for the past two to three decades. With time, meat products are being developed according to the market demand and consumer necessities. Currently, consumers expect the best quality of meat products offered by manufacturing companies. According to the demand by consumers, manufacturing companies are offering flavored meat products in the market to entice consumers. Companies are mixing aromatic herbs and spices in their meat mixture to bring out the best flavors in their products. On consumption, consumers experience a unique taste. The introduction of flavored and processed meat in the market is expected to increase the sales of flavored meat products. The inclination of consumers toward flavored and processed meat products is anticipated to offer lucrative opportunities for market players to introduce new flavor variants in their deli meats.

Deli meat is a ready-to-eat meat product. The majority of the deli meats are cured meats with added chemical additives to extend the shelf life and inhibit the growth of microorganisms. A single serving of cured meat contains 500mcg of nitrates. Potassium nitrate and sodium nitrite are the most commonly used curing agents, and they assist in maintaining the redness and color of the meat. Nitrates in the meat change into nitric oxide in the body. Nitric oxide dilates the blood vessel and lowers blood pressure. According to the American Journal of Clinical Nutrition, nitrate is a potential producer of carcinogenic nitrosamines; nitrosamines are produced when cured meat products are heated to high temperatures over 266°F or 130°C, such as frying or grilling the meat. Nitrosamines are linked to esophageal cancer, gastric cancer, colorectal cancer, and cardiac issues. There is a drastic decrease in the consumption of deli meat owing to the associated potential health risks. As a result, customers have shifted their preference from cured meat products to fresh cuts of meat that are devoid of curing agents and additives. Thus, all these factors have restrained the growth of the global market.

Veganism is a worldview trend that promotes compassion by avoiding the consumption of animal-derived goods. A vegan diet comprises entirely of plant-based food, with no eggs, milk, meat, or honey allowed. Processed and deli meat companies are grabbing the opportunity and are introducing new variants of plant-based meat in the market. For instance, in 2021, major plant-based meat brands in Brazil such as JBS, BRF, and Marfrig global food launched a series of plant-based meat products to entice consumers and cater to market demand. On the other hand, an increase of awareness among health-conscious consumers about developing ailments from consuming meat is encouraging to shift toward plant-based meat. According to a survey by gfi.org, the availability of plant-based meat at a convenient price and awareness of health & nutrition are the major factors that encouraged the popularity of plant-based meat. Thus, the increase in the vegan population and companies introducing new product lines of plant-based meat act as major hindrances to the growth of the deli meat market.

The availability of a wide range of meat at reasonable rates is the driving force behind Central America's high meat intake. The explosive growth of fast-food franchises, deli services, and high-end restaurants is significantly influencing the consumption of deli meat and meat delicacies. Furthermore, discounts and economical meal packages given by these fast-food outlets/restaurants significantly contributed toward the growth of the cooked and processed meat industry in Central America. As a result, higher meat consumption in developed areas has historically fueled market development. According to Food and Agriculture Organization (FAO), in 2020, the total meat production in Central America was 1.7 million tons. Meat processing businesses are expanding the size of livestock farms to accommodate cattle to meet the rise in demand for meat. On the contrary, the development of heart ailments from beef and red meat is encouraging the Central American population to shift toward the consumption of turkey meat as it is good for health and help to fulfill protein requirement.

Over the last five years an increase of around 40% is seen in the consumption of pork, and it is expected to increase with the surge in popularity. The consumption of chicken meat is growing at a steady pace in Guatemala. The economy of Central America is expanding in real terms, driven by increase in domestic consumption of meat delicacies, increase in public investment, and growth of the European meat-eating culture.

The players operating in Central America and South America deli meat market have adopted various developmental strategies to expand their deli meat market share, increase profitability, and remain competitive in the market. The key players profiled in this report 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.

Segment Review

The Central America & South America deli meat market is segmented into source, product type, sales channel, and region. The report provides information about the various sources of deli meat such as beef, pork, chicken, turkey and others. In addition, it focuses on different product types, including dry cured meat and uncured meat. It further outlines the details about diversified sales channels, which include hypermarkets/supermarkets, specialty stores, convenience stores, online channels, and others. The deli meat market is studied across different countries such as Costa Rica, Panama, Guatemala, Brazil, Argentina, Peru, Chile, Colombia, Ecuador, and rest of Central & South America.

On the basis of source, the beef deli meat was the highest revenue contributor in the region owing to the higher inclination of consumers toward the beef products, and is expected to remain dominant throughout the forecast period. The Turkey segment was the second largest segment, and is expected to grow at a steady growth rate of 7.0% throughout the forecast period.

Central & South America Deli Meat Market
By Source
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Pork deli meat segment would exhibit the highest CAGR of 8.0% during 2022-2031, owing to the increasing production of pork in Brazil and Argentina.

On the basis of product type, the cured meat segment dominated the deli meat market in 2021 owing to the greater shelf life as compared to uncured deli meats and is expected to remain dominant during the forecast period.

Central & South America Deli Meat Market
By Product Type
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Uncured deli meat market would exhibit the highest CAGR of 6.6% during 2022-2031, owing to the rising trends towards fresh meat products and their increased nutritional value.

On the basis of sales channels, the hypermarkets/supermarkets segment dominated the deli meat market in 2021 owing the rising preferences of consumers towards one-stop shopping experience in the market, and the online channels segment is expected to grow at the fastest rate during the forecast period.

Central & South America Deli Meat Market
By Sales Channel
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Online retailers would exhibit the highest CAGR of 7.9% during 2022-2031, owing to the gowing consumer engagement with mobile phones and internet in the regions.

The deli meat market is studied across Central America and South America. South America was the largest market in 2021 owing to the higher population rate and well-established retail sectors in the region, whereas Central America is anticipated to be the fastest-growing regional market with a CAGR of 6.9% throughout the forecast period.

Central & South America Deli Meat Market
By Region
South America 
Central America

Central America would exhibit the highest CAGR of 6.9% during 2022-2031, due to emergence of several modern trades and increasing interest of manufacturers to tap opportunities in the region.

Key Benefits for Stakeholders

  • This report provides an extensive analysis of the current trends and emerging estimations & dynamics of the deli meat market from 2021 to 2031, in terms of value.
  • Detailed analysis of the market by source helps to understand the different sources of deli meat products that are currently in use, and the variants that are expected to gain prominence in the future.
  • The Porter’s five forces analysis highlights the potency of buyers and suppliers to offer a competitive advantage to stakeholders to make profit-oriented business decisions and help strengthen their supplier & buyer network.
  • Extensive analysis of the market is conducted by following key product positioning and monitoring the top competitors within the market framework.
  • Market share for all segments with respect to each country is detailed in the report, which helps understand the trends in the industry.

Central & South America Deli Meat Market Report Highlights

Aspects Details
By Source
  • Beef
  • Pork
  • Chicken
  • Turkey
  • Others
By Product Type
  • Dry Cured Meat
  • Uncured Deli Meat
By Sales Channel
  • Hypermarkets/supermarkets
  • Specialty stores
  • Convenience stores
  • Online channel
  • Others
By Region
  • Central America  (Costa Rica, Panama, Guatemala, Rest of Central America)
  • South America  (Brazil, Argentina, Chile, Peru, Colombia, Ecuador, Rest of South America)

Analyst Review

According to the insights of the top-level CXOs, blockchain technology in the meat sector is a game-changer for both manufacturers and consumers. Users may utilize blockchain for fresh meat and meat products to record and track animal data such as health protocols, performance metrics, present locations, and progress across the supply chain. The option to personalize data flow between buyer and seller is unique to the platform. This feature assists the user in learning more about the product and gaining a better understanding of it. In times of uncertainty, blockchain technology encouraged consumers to choose the best meat product.

CXOs further add that veganism is becoming more popular, and customers are gravitating toward it. Processed and deli meat producers in Central America and South America are seizing the opportunity and releasing new plant-based meat versions to the market. For example, Maple Leaf Food, Inc., a leading plant-based meat brand, developed a range of plant-based meat products in 2021 to captivate consumers and meet market demand.

On the other side, when health-conscious customers become aware of the risks of ingesting meat, they are more likely to switch to plant-based meat. The growing vegan population as well as firms developing new plant-based meat product lines are impeding the expansion of the deli meat sector in the countries such as Brazil, Chile, Peru, Argentina, and others.

Author Name(s) : Vidit Gite | Roshan Deshmukh
Frequently Asked Questions?

The Central America and South America deli meat market was valued at $921.2 million in 2021 and is projected to reach $1,659.1 million by 2031, registering a CAGR of 6.0% from 2022 to 2031.

The forecast period in the market report would be 2022-2031.

The market value of Central & South America deli Meat market in 2021 is $921.2 million.

The year 2021 is base year calculated in the Central & South America deli Meat market report.

Trends such as rising preferences toward fast-food franchises, deli services, and high-end restaurants are the center of attractions in the market.

During the outbreak of COVID-19, massive outbreaks were discovered in the Costa Rica and other Central & South American countries, meat processing factories, particularly poultry and pig facilities, were forced to close. Pigs' processing capacity has been cut by up to 45% which has impacted the production capacity of the deli meat in the market. In the long-term, as the situation begins to stabilize, out-of-home consumption will begin to increase again, but it is unlikely to be sufficient to compensate for lost sales in the upcoming weeks/months.

South America will dominate the market by the end of 2031.

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Central & South America Deli Meat Market

Opportunity Analysis and Industry Forecast, 2022-2031