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The poultry meat market size is projected to increase by USD 28.95 million at a CAGR of 1.36% between 2023 and 2028. Product launches can drive market growth by introducing new and innovative poultry meat products to consumers, increasing demand and market competitiveness. The increasing import and export of poultry meat can also drive market growth by expanding market reach and facilitating trade between countries. Additionally, the increasing global production of poultry meat is a significant factor driving market growth, as it indicates a growing demand for poultry meat worldwide, leading to increased consumption and production.
Increasing global production is the key factor driving market growth. Various market participants are expanding their production capabilities, a significant factor driving market growth. Additionally, the global demand is increasing due to growing awareness of the health benefits linked to consumption. This heightened demand is further supported by consumer eating trends, environmental concerns, health concerns, tourism spending, the influx of international tourists, the presence of foodservice outlets, urbanization trends, and the rising number of internet users. The expanded production capacities of leading firms also contribute to meeting this demand and expanding the range of choices for consumers. These factors are directly propelling the growth of the global market in the projected period.
The Market shows an accelerated CAGR during the forecast period.
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The report offers extensive research analysis on the market, with a categorization based on Product, including chicken meat, Turkey meat, duck meat, and others. It further segments the market by Distribution Channel, encompassing offline and online. Additionally, the report provides Geographical segmentation, covering APAC, Europe, North America, the Middle East and Africa, and South America.
The increasing preference for the offline segment by consumers will increase the market growth. The offline segment comprises traditional grocery stores, supermarkets, hypermarkets, specialty shops, butcher shops, food service providers (restaurants, hotels, catering services), and wet markets. In addition, these channels involve physical locations where consumers can directly purchase products. Moreover, compared to typical grocery stores, supermarkets are bigger and stock a wider variety of goods. They can be found in both urban and suburban locations, and they frequently have several departments. The increasing preference for the offline segment is fuelled by the wide availability of the products, which in turn will drive the market during the forecast period.
The chicken meat segment is estimated to witness significant growth during the forecast period. The global market comprises a sizeable portion of chicken meat. In addition, it is one of the meats that are most frequently consumed internationally and is very well-liked since it is inexpensive, versatile, and has health benefits. Furthermore, due to rising consumer demand for convenient and high-protein food options, the global market is anticipated to expand steadily over the forecast period.
The chicken meat segment was the largest segment and was valued at USD 317.14 million in 2018.
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Moreover, the relative affordability of chicken in comparison to other types, its accessibility, and its general acceptance across a wide range of cultures and cuisines are the main factors influencing demand. In addition, chicken is frequently preferred over red meat since it is seen to be leaner and healthier. Furthermore, numerous culinary items, including fresh and frozen cuts as well as processed foods like sausages, nuggets, and burgers, contain chicken meat. In addition, it is also a well-liked component of soups, ready-to-eat meals, and other convenience foods. Hence, such factors are fuelling the growth of this segment which in turn will drive the market during the forecast period.
APAC is estimated to contribute 44% to the growth of the global market during the forecast period
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Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The demand in APAC is expected to increase during the forecast, due to factors including increasing health awareness, convenience offered by processed meats, and expanding fast-food chains. In addition, poultry is a good source of protein and is popular among fitness enthusiasts.
Moreover, poultry meat, such as chicken meat, is popular in India and China. Furthermore, in India, most consumers prefer fresh chicken to processed chicken. In addition, the emergence of new quick-service restaurants (QSR) will have a positive impact on the processed poultry segment of the country. These trends underscore a growing demand for poultry products, influencing market dynamics across regions. Meanwhile, in North America, the poultry feed market faces challenges due to its heavy reliance on imported ingredients and the volatility of feed component pricing. These factors necessitate agility and adaptability within the industry to ensure stability and sustainability. Despite these challenges, innovations in feed additives and management practices are poised to drive growth in the North America poultry feed market during the forecast period, responding to evolving consumer preferences and regulatory landscapes.
The market is witnessing steady growth, driven by its value and availability through various off-trade channels such as supermarkets and internet retailers. Frozen and processed poultry meat products like chicken bites, chips, nuggets, tenderloins, and wings are particularly popular among consumers due to their convenience and ease of preparation. Despite environmental and health concerns, the market is resilient, especially in the United Kingdom and the European Union, amidst challenges like Brexit and outbreaks of Highly Pathogenic Avian Influenza (HPAI). With the recovery of the foodservice sector and increasing domestic demand, the market is expected to continue its growth trajectory, catering to both local and international tourists. Major players in the market are adapting to urbanization trends and the increasing number of internet users.
A key factor shaping the market is the introduction of new packaging. Market players are increasingly offering innovative packaging to increase the shelf life of the meat. For instance, in April 2021, Asda claimed that by doing away with plastic containers for all of its fresh chicken products and replacing them with recyclable packaging, it would save 450 tons of plastic annually.
Moreover, the market leader in smart, connected packaging solutions, Harpak-ULMA, announced in February 2023 that ULMA's Tight-Bag machines for chicken products would be available in North America. Furthermore, to automate vacuum bagging for many food products, Tight-Bag technology combines vertical bagging with a ground-breaking, proprietary air extraction technique. Hence, such factors are driving the market during the forecast period.
The use of preservatives is one of the key challenges hindering the market. Preservative-free flesh is vulnerable to attacks by molds, yeast, bacteria, and more. In addition, exposure to such microbes decreases the shelf life. Thus, to increase the shelf life of the related products, players add natural and chemical preservatives.
Moreover, methyl p-hydroxybenzoate and propionic acid are the commonly used preservatives. In addition, other preservatives such as benzoic acid, sorbic acid, nitrite, nitrate, and salts are added to minimize the risks associated with exposure to microbes. Hence, such factors are hindering the market during the forecast period.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
The market report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018 to 2028.
The market is experiencing a resurgence in foodservice, but faces challenges like Highly Pathogenic Avian Influenza (HPAI) outbreaks affecting product availability. Key players like Foster Farms, ITC Master Chef, and Suguna Chicken are pivotal. Factors like feed and energy costs impact profitability, while advancements in production automation and biosecurity boost efficiency. Wireless communication technologies and cyber-physical systems aid in poultry processing, improving material yield. Fluctuations in commodity prices, including corn and soybeans, affect chicken prices and wholesale rates. Despite challenges, the market is resilient, with strategic partnerships driving growth in both developed and developing countries, fueled by rising meat consumption and population growth.
The market is witnessing a rebound in the foodservice sector, particularly through the on-trade channel, driving demand for products like chicken chips and chicken wings. EU production and poultry processors are key players in this market. Advancements in genetical modification and biosecurity have improved poultry processing efficiency. However, challenges such as supply shortages and fluctuating prices for poultry due to factors like poultry feed costs and economic growth persist. Despite this, the market shows promise, with investments and growth in emerging markets supporting a robust end-user poultry market fueled by increasing consumption of meat.
Market Scope |
|
Report Coverage |
Details |
Page number |
172 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 1.36% |
Market Growth 2024-2028 |
USD 28.95 million |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
1.22 |
Regional analysis |
APAC, North America, South America, Europe, and Middle East, and Africa |
Performing market contribution |
APAC at 44% |
Key countries |
US, Mexico, China, Russia, and Brazil |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Baiada Pty Ltd., Bell Food Group Ltd., BRF SA, Cargill Inc., Charoen Pokphand Foods PCL, Hormel Foods Corp., JBS SA, KOCH FOODS INC., Maple Leaf Foods Inc., Marubeni Corp., Maruha Nichiro Corp., National Beef Packing Co. LLC, New Hope Liuhe Co. Ltd., Perdue Farms Inc., Sysco Corp., Tyson Foods Inc., WH Group Ltd., Smithfield Foods Inc., Bates Turkey Farm Inc., and Industrias Bachoco SAB de CV |
Market dynamics |
Parent market analysis, Market forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by Distribution Channel
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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