World Processed Chicken Market to Grow at a CAGR of 6.8% During the Forecast Period 2020-2025

April 22 16:47 2021
World Processed Chicken Market to Grow at a CAGR of 6.8% During the Forecast Period 2020-2025

World Processed Chicken Market
Increasing Consumption of Chicken Is a Major Driving the World Processed Chicken Market During the Forecast Period 2020-2025.

World Processed Chicken Market size is estimated to be $4.7 billion in 2019, growing at a CAGR of 6.8% during the forecast period 2020-2025. Processed Chicken are treated in some way to preserve its flavor through salting, fermenting and curing. The increasing awareness among consumers regarding the benefits associated with chicken consumption and the rising demand for convenience and processed chicken is a vital factor driving the World Processed Chicken Market during the forecast period 2020-2025. For instance, chicken contain vitamin B12 and choline, which together promotes brain development in the children, help the nervous system function properly and aid cognitive performance in older adults. Moreover, frozen chicken contains vitamin E which helps cells to communicate and also protects against cellular damage owing to the presence of antioxidant. Besides this, the stringent government regulation by various government organization is another vital factor up surging its market growth. For instance, at the processing facility, the U.S. federal meat and poultry inspection system complements efforts by chicken processors to ensure that every single chicken product is safe, wholesome and correctly labelled and packaged.

World Processed Chicken Market Segment Analysis – By Packaging Method

By Packaging Method, the World Processed Chicken Market is segmented into Vacuum Packaging, Controlled Atmosphere Packaging, Active & Intelligent Packaging, Active Packaging Scavengers, Active Packaging Indicators and Others. Vacuum Packaging held the major market share in 2019, owing to its ability to preserve food for a longer duration. Vacuum packaging refers to the packaging in containers from which sustainability all air has been removed prior to final sealing of container. In addition this method of packaging is actually a form “modified atmosphere” since normal air is removed from the package. Also, active and intelligent packaging segment is projected to witness growth at fastest CAGR of 7.5% in forecast period 2020-2025. Active packaging is a modern development technique consisting of a group of technique in which the package is self-motivated and is actively involved with food products or act together with internal atmosphere to extend the self-life while maintaining quality and safety.

World Processed Chicken Market Segment Analysis – By End-User

By End-User, the World Processed Chicken Market is segmented into Restaurants, Food Manufacturers, Retail and Others. Restaurants segment held the largest market share in the year 2019 owing to the rising demand of processed chicken in KFC and McDonald. Moreover, in July 2020 KFC announced to create the world’s first laboratory-produced chicken nuggets. In addition the chicken restaurant chain would work with Russian company 3D printing solutions to develop bio printing technology that will print chicken meat using chicken cells and plant material. Also, food manufacturers segment is projected to witness growth at fastest CAGR of 7.2% in forecast period 2020-2025 owing to the rising demand of processed chicken in various food industry.

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World Processed Chicken Market Segment Analysis – By Geography

North America contributed to the largest market share of 43% owing to the presence of large dominant players in the region including Tyson Foods and Sanderson Farms. Moreover, according to National Chicken Council Americans on average eat more than 150 million servings of chicken every day and virtually all of them are eaten safely. Besides this, the presence of regulatory bodies in U.S. supporting the proper inspection of processed chicken is also contributing to its market growth.

World Processed Chicken Market Drivers

Increasing Consumption of Chicken

Increasing consumption of chicken is a major driving the World Processed Chicken Market during the forecast period 2020-2025. Moreover, according to the Australia Government Department of Agriculture global meat consumption increased by 58% over the 20 years to 2018 to reach 360 million tonnes. Population growth accounted for 54% of this increase and per person consumption growth accounted for the remainder. In addition per person consumption was strongly influenced by changing consumer preference and income growth.

Stringent Regulation in U.S

Stringent regulation in U.S. for processed chicken is a major factor driving the World Processed Chicken Market during the forecast period 2020-2025. For instance, The Food Safety and Inspection services is a public health agency in the United States Department of Agriculture that is responsible for inspection at boiler chicken processing facilities. The U.S meat and poultry inspection system complements industry efforts to ensure that the nation’s commercial supply of meat, egg and poultry product is safe, wholesome and correctly labelled.

World Processed Chicken Market Challenges

Increasing Health Risk With the Consumption of Processed Chicken

Increasing health risk with the consumption of processed chicken serves as a major setback for the growth of the World Processed Chicken Market during the forecast period 2020-2025. Moreover, as processed chicken consist of sodium, excess of its consumption contribute to osteoporosis, increase the risk of cancer and also increases heart disease risk.

World Processed Chicken Market Industry Outlook

Product Launches, Merger & Acquisition, joint ventures and R&D activities are key strategies adopted by the players in World Processed Chicken Market. World Processed Chicken Market top 10 companies are Tyson Foods, Sanderson Farms Inc., Marfrig Group, Cargill Inc., Vion Food Group, BRF S.A., Smithfield Foods Inc., Hormel Foods Corporation, Marfrig Global Foods S.A., and Cherkizovo Group.

Developments:

July 2020: Tyson Foods launched a range of chicken products under its Tyson flagship brand in the European foodservice market, which included restaurants, some cafeterias and caterers.

Key Takeaways

Vacuum Packaging held the major market share in 2019, owing to its ability to preserve food for a longer duration.

Restaurants segment held the largest market share in the year 2019 owing to the rising demand of processed chicken in KFC and McDonald.

North America contributed to the largest market share of 43% owing to the presence of large dominant players in the region including Tyson Foods and Sanderson Farms.

Increasing consumption of chicken is a major driving the World Processed Chicken Market during the forecast period 2020-2025.

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