Rising Demand for Protein-rich Foods and Changing Lifestyles Drive Market Growth
The protein-rich global chicken market is expected to reach €366.82Bn by 2028, according to ResearchAndMarkets.com
The global chicken market is projected to reach €366.82 billion by 2028, according to a report added to ResearchAndMarkets.com’s offering.
Over the past 30 years, the protein-rich chicken meat market has witnessed significant expansion, driven by modernisation, automation, and genetic advancements that have increased productivity. Chicken meat is a crucial protein source for people in many countries, offering affordability, digestibility, and a complete amino acid profile.
The report highlights the following key factors driving the growth of the global chicken market:
- Rising Demand for Protein-rich Foods: As consumers increasingly prioritise protein-rich diets, chicken meat serves as an affordable and easily digestible lean protein choice. With the protein digestibility corrected amino acid score (PDCAAS) of one or slightly less, chicken meat fulfils consumers’ nutritional requirements, leading to its increased consumption
- Increasing Urbanisation and Disposable Income: The fast-paced urbanisation and growing disposable income levels are contributing to the expansion of the chicken market. These factors, coupled with changing lifestyles, have resulted in higher demand for convenient and ready-to-eat chicken products.
The global chicken industry is expected to grow at a compound annual growth rate (CAGR) of nearly 5.45% from 2022 to 2028. While high-income nations may experience leveling off or declining demand due to dietary concerns and an aging population, lower-income countries are expected to drive overall consumption growth.
Key Trends in the Chicken Market:
- Adoption of Poultry Meat by Fast Food Chains: Fast food chains and quick-service restaurants are increasingly incorporating poultry meat as a substitute for fresh meat, driving its demand.
- Growth of Ready Chicken Products: The easy availability of ready chicken products and the rise in personal disposable income have positively influenced the global ready chicken products market. Consumers’ increasing preference for ready-to-eat and ready-to-cook options, along with improvements in taste and quality, are driving market proliferation.
- Increasing Internet Penetration and Spending Capacity: The growth of internet penetration and the rise in consumers’ spending capacity have further fueled the demand for ready chicken products worldwide.
The report highlights the dominance of poultry meat consumption globally, with countries like the United States, China, Brazil, and various emerging economies playing a significant role in driving consumption growth. Poultry is projected to remain the world’s top imported animal item by volume, outpacing pork and beef.
In terms of production, the United States, Brazil, the European Union, and China are the leading chicken meat-producing countries. Brazil holds the top position as the largest exporter of chicken meat, while China leads in terms of chicken meat imports.
Key Players in the Market:
The report includes a competitive landscape analysis of leading industry participants. Prominent players mentioned in the research study are Tyson Foods, JBS SA, Pilgrim’s Pride Corporation, Danish Crown Group, Vion Food Group, WH Group, Hormel Foods Corporation, and Muyuan Foods. These companies have implemented key strategic developments to strengthen their market position and cater to the increasing demand for chicken meat products.