Global Chicken Market Report 2023: Rising Consumption of Poultry Worldwide to Boost Growth

DUBLIN, June 6, 2023 /PRNewswire/ -- The "Global Chicken Market, Size, Forecast 2023-2028, Industry Trends, Growth, Share, Outlook, Impact of Inflation, Opportunity Company Analysis" report has been added to ResearchAndMarkets.com's offering.

Global Chicken Market is expected to be US$ 429.11 Billion by 2028, according to the publisher. The global chicken meat market has expanded rapidly, notably in the last 30 years.

This expansion has been accompanied by significant modernization and automation, as well as the genetic creation of animal kinds that allow for higher productivity. Although meat consumption has risen in absolute and per capita terms, the production of chicken meat has been the most effective in standardizing processes, boosting yields, and achieving considerable cost and price reductions. Chicken meat is critical since it is one of the key protein sources for people in many nations.

Furthermore, animal-derived dietary items have a PDCAAS (protein digestibility corrected amino acid score) of one or slightly less than one. Chicken is the most affordable and easily digestible lean protein choice; also, chicken protein provides all nine necessary amino acids. As a result, rising consumer preference for protein-rich foods is driving raw chicken meat market growth. According to our projections, its output will continue to increase both locally and globally. The primary driving market expansion are increasing fast urbanization, disposable income, and changing lifestyles.

Global Chicken Industry is expected to grow with a CAGR of nearly 5.45% from 2022 to 2028

The growth in worldwide chicken meat volume over the last five years has been primarily driven by more efficient poultry meat volume as the poultry industry has continued to expand and industrialize in many regions of the world. However, in high-income nations, where per capita consumption is already high, demand is expected to level off or trend lower, owing to ageing populations and increased dietary concerns that seek greater variety in protein sources. In lower-income countries, both population and income growth will drive overall consumption, albeit from a considerably lower per capita starting point. Worldwide Chicken Market was valued US$ 312.11 Billion in 2022.

Recent Trends

• Fast food chains and quick-service restaurants have adopted poultry meat as a substitute for fresh meat.
• Easy availability of ready chicken products and growing personal disposable income are expected to positively influence the global ready chicken products market.
• Rising internet penetration and increase in consumers' spending capacity are further proliferating the growth of the ready chicken products market across the globe.
• Consumers increasingly demand ready-to-eat and ready-to-cook pork meat products with better taste and quality

The Rise in Poultry Meat Consumption

Chicken is one of the world's most popular foods. The United States is the country with the highest consumption of chicken. However, consumption of chicken meat has increased in almost all nations and regions, with customers drawn to reduced pricing, product consistency and flexibility, and greater protein/lower fat ratio. As a result, worldwide consumption of chicken meat is expected to rise throughout the projection period, reflecting the important role it plays in the national diets of numerous populous emerging countries, including China, Indonesia, India, Malaysia, Pakistan, Peru, the Philippines, and Vietnam.

Poultry will Lead Global Meat Production over the Next Decade

There are several production tiers in the worldwide chicken meat business, including feed mills, hatcheries, expanding farms, and processing factories. The United States of America is the world's top producer of chicken meat, followed by Brazil, the European Union, and China. The increased use of technology has helped to increased production, which has resulted in a decrease in relative pricing when compared to beef and hog meat. Nowadays, people are searching for convenience foods, and in such cases, poultry meat products are superior options. As a result of the aforementioned reasons, the processed poultry meat Market is expected to develop over the projected period.

Asia is the Major Chicken Importing Region Worldwide

China is first in the world in terms of chicken meat imports. China will be first in 2022, followed by Mexico and the United States. The Netherlands, Saudi Arabia, Japan, the United Kingdom, Germany, the United Arab Emirates, Iraq, France, South Africa, the Philippines, and Vietnam are the top importers. Global consumption of chicken continues to climb and is expected to rise over the next decade. Chicken meat consumption per person will grow faster than pork and beef because, according to these projections, poultry consumption would climb faster than beef and pig meat. The global population is slowing and is predicted to rise. Over the next 10 years, poultry is predicted to remain the world's top imported animal item by volume. Many countries raised domestic poultry production to satisfy expanding chicken meat demand.

Brazil is the most Prominent Exporter by Volume

The United States, Brazil, the European Union, and Thailand have developed as significant poultry exporters. Brazil is the world's biggest poultry exporter, and it is expected to stay such in the next years. Increased local supply of chicken feedstuffs (feed grains and soybeans) aided Brazil's poultry industry increase. Throughout the next decade, the United States is likely to lose market share. In 2022, Brazil and the United States were the largest exporters of chicken meat. The Netherlands, Poland, Turkey, Belgium, Ukraine, Thailand, Argentina, the United Kingdom, China, Germany, Belarus, Russia, and France were among the countries with a modest percentage of chicken meat exports.

Key Companies

The report includes a competitive landscape based on an extensive assessment of the key strategic developments implemented by leading industry participants over the last 5 years. Tyson Foods, Inc., JBS S.A., Pilgrim's Pride Corporation, Danish Crown Group, Vion Food Group, W.H. Group, Hormel Foods Corporation, and Muyuan Foods are among the prominent players mentioned in the global meat market research study.

Tyson Foods has announced the expansion of its Caseyville Prepared Foods Facility in August 2022. The USD 180 million investment will help Tyson Foods fulfil rising demand for its renowned Hillshire Farm and Jimmy Dean branded goods. The Caseyville factory already manufactures Hillshire Farm and Jimmy Dean goods, and the 170,000 square foot addition will allow for increased production of snacking and breakfast items.

Tyson Foods, Inc. of the United States and Tanmiah Food Company of Saudi Arabia have formed cooperation in July 2022. Tyson Foods purchased a 15% investment in Tanmiah subsidiary Agriculture Development Company (ADC) as well as a 60% stake in Supreme Foods Processing Company. This investment provided customers with access to chicken supply in Saudi Arabia, allowing them to fulfil the Middle East's and other markets' expanding need for protein.

Global Chicken Producing Countries:

1. United States
2. Brazil
3. China
4. European Union
5. Russia
6. Mexico
7. Thailand
8. Turkey
9. Argentina
10. Columbia
11. Peru
12. Others

Global Chicken Consuming Countries:

1. United States
2. China
3. Brazil
4. European Union
5. Russia
6. Mexico
7. Japan
8. Thailand
9. United Kingdom
10. Argentina
11. Columbia
12. Others

Global Chicken Importing Countries:

1. Japan
2. Mexico
3. United Kingdom
4. European Union
5. Saudi Arabia
6. Iraq
7. China
8. Philippines
9. UAE
10. South Africa
11. United States
12. Others

Global Chicken Exporting Countries:

1. Brazil
2. United States
3. European Union
4. Thailand
5. China
6. Turkey
7. United Kingdom
8. Ukraine
9. Argentina
10. Belarus
11. Russia
12. Others

Key Topics Covered:

1. Introduction

2. Research Methodology

3. Executive Summary

4. Market Dynamics

5. Global Chicken Market

6. Consuming Countries Market share - Global Chicken Market

7. Volume Share - Global Chicken

8. Consuming Countries - Global Chicken Market and Volume

9. Producing Countries - Global Chicken Volume

10. Importing Countries - Global Chicken Volume

11. Exporting Countries - Global Chicken Volume

12. Key Players Analysis

Companies Mentioned

• Tyson Foods, Inc.
• JBS S.A.
• Pilgrim's Pride Corporation
• Danish Crown Group
• Vion Food Group
• W.H. Group
• Hormel Foods Corporation
• Muyuan Foods

For more information about this report visit https://www.researchandmarkets.com/r/l94mud

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