World Processed Chicken Market - 2022-2027
World Processed Chicken Market size is forecast to reach $7.8 billion by 2026, growing at a CAGR of 7.0% during the forecast period 2021-2026. When chicken meat is mechanically recovered from a chicken carcass, it is known as processed chicken. Processed chicken is also a combination of chicken meat and skin, leading to the advent of different types of by products like sausage meat, canned meat and chicken nuggets, among others. Over the recent past, consumers have become increasingly aware regarding the benefits of consumption of chicken and its potential nutrient content in the form of macro nutrients like protein and fat, as well as micro nutrients like choline and vitamin B12, which is driving the growth of the market. With almost every major economy trying to adopt processed chicken, processed poultry manufacturers have been progressively taking steps to increase capacities which is set to further enhance the overall market developments of the World Processed Chicken Market for the period 2021-2026.
World Processed Chicken Market Report Coverage
The report: “World Processed Chicken Market Forecast (2021-2026)”, by Industry ARC, covers an in-depth analysis of the following segments of the World Processed Chicken Market.
By Product Type: Frozen Chicken Patties, Tenders, Nuggets, Others
By Packaging Method: Vacuum Packaging, Controlled Atmosphere Packaging, Intelligent Packaging, Active Packaging Scavengers, and Active Packaging Indicators
By End User: Restaurants, Food Manufacturers, Retail, Others
By Geography: North America (U.S., Canada, Mexico), Europe (Germany, United Kingdom (U.K.), France, Italy, Spain, Russia, and Rest of Europe), Asia Pacific (China, Japan India, South Korea, Australia, and New Zealand, and Rest of Asia Pacific), South America (Brazil, Argentina, and Rest of South America), and Rest of the World (Middle East, and Africa)
Key Takeaways
- North America dominated the World Processed Chicken Market in 2020 owing to the continuously expanding consumer base coupled with the concentration of major market competitors in this region. The World Processed Chicken Market scope for different regions will be provided in the final report.
- Increasing consumption of chicken owing to its health benefits coupled with the ease of procuring, mixing and consuming processed chicken are likely to aid the market growth of the World Processed Chicken Market report.
- Detailed analysis of the Strength, Weakness, and Opportunities of the prominent players operating in the market will be World Processed Chicken Market report.
- Over consumption of processed meat is linked to fatal diseases like cardiac arrest and type 2 diabetes is poised to create the hurdles for the World Processed Chicken Market.
World Processed Chicken Market Segment Analysis – By Product Type
Frozen Chicken Patties segment held the largest share in the World Processed Chicken Market in 2020 and is estimated to grow at a CAGR 6.1% during the forecast period 2021-2026. This is owing to the extensive usage of patties which made gave it a predominant position in the food industry, especially in fast food outlets. The patties over overpower its counterparts because they are assessed on the basis of sensory attributes and physiochemical characteristics like emulsion stability, and cooking yield, thereby attaining a dominant position. However, the usage of nuggets in almost every household across major economies in the recent past because of its crispy flavour and convenience of consumption, is likely to augment the growth of this segment. Nuggets segment is estimated to register the higher CAGR over the period 2021-2026.
World Processed Chicken Market Segment Analysis – By End User
Restaurants segment held the largest share in the World Processed Chicken Market in 2020 and is estimated to grow at a CAGR 6.5% during the forecast period 2021-2026. This is owing to the increasing usage of processed chicken across food services, in almost every form like fine dining and fast food outlets, among others. Processed meat is also used by different confectionaries across all the major economies because of its convenience of consumption and affordability factor. However, the adoption of processed chicken at a residential level is also gaining traction which can be primarily attributed to the wide variety of processed chicken available across various retails, which is likely to bolster the growth of this segment. Retail segment is estimated to register the higher CAGR over the period 2021-2026.
World Processed Chicken Market Segment Analysis – By Geography
North America dominated the World Processed Chicken Market with a major share of 33.6% in 2020. This is attributed to the enormous consumer base throughout this region, who consume processed chicken of all types at frequent intervals. Additionally, North America holds the major concentration of the most prominent market players. This is likely to bolster the market growth of tofu and tofu-based products in this region.
However, Europe is estimated to grow at a higher CAGR during the forecast period 2021-2026 owing to the increasing number of consumers adopting processed chicken in their meals due to progressive urbanization and ease of consumption of processed chicken. Growing awareness regarding the health benefits associated with the consumption of chicken is also increasing the growth of the market in this region.
World Processed Chicken Market Drivers
Increasing consumption of chicken owing to its health benefits is driving the market growth
Over the recent past, there has been a growing consumption of chicken, let alone processed chicken, throughout all the economies. In the U.S. alone, according to the USDA (United States Department of Agriculture), chicken consumption has increased by 541% since 1910, from around 10.1 pounds per capita to roughly about 70.5 pounds in 2020. Since 1961 the consumption of poultry has more than tripled. The health benefits associated with the consumption of chicken is driving consumers to this specific market. Processed chicken in the form of frozen meat not only helps consumers meet their daily protein needs on-the-go, but also contains antioxidants and vitamin E, which aids against cellular damage, thereby offering a good nutritive value in return of the money. Thus, increasing the growth of the World Processed Chicken Market during the forecast period 2021-2026.
Ease of consumption in the uber busy lifestyle is poised to increase the growth of the market
With the rapid growth of urbanization, people have very limited time to spare on healthy nutrition. This is compelling key market players to come up with innovative on the go food products which will help consumers meet their daily macro nutrient needs within stipulated time period. Processed chicken is used extensively in the form of healthy snacks and food deliveries which can be consumed easily at any time of the day. According to U.S. Census data and Simmons National Consumer Survey (NHCS), in 2020, 128.73 million Americans consumed snacks with processed meat as its main constituent. Thus, increasing the growth of the World Processed Chicken Market during the forecast period 2021-2026.
World Processed Chicken Market Landscape
Product launches, mergers and acquisitions, joint ventures, and R&D activities are key strategies adopted by players in the World Processed Chicken Market. In 2020, the World Processed Chicken Market share is fragmented by the top ten players present in the market.
Top 10 companies
1. Cargill
2. Hormel Foods
3. Tyson Foods
4. Novozymes
5. Dow Du Pont
6. Vion Food Group
7. Smithfield foods Inc
8. Hormel Foods Corporation
9. Cherkizovo Group
10. BRF S.A
For more Food and Beverage Market reports, please click here
