Market Overview:
The Global Packaged Chicken Market size was reasonably estimated to be approximately USD 11,500.00 Million in 2022 and is poised to generate revenue over USD 29,297.35 Million by the end of 2030, projecting a CAGR of around 12.40% from 2022 to 2030.
Chicken is the most commonly consumed poultry globally due to its widespread popularity in various cuisines. Its popularity can also be attributed to the ease and affordability of raising chickens as compared to other animals like cattle or pigs.
The packaged chicken market has witnessed significant growth and popularity globally, positioning chicken as one of the most consumed foods worldwide. Its prevalence can be attributed to the relative ease and cost-effectiveness of chicken production compared to other meat sources, making it a preferred choice for many cuisines. With high protein content and comparatively lower costs in comparison to beef and seafood, chicken remains a staple in diets of people from various socioeconomic backgrounds.
This versatile protein source can be prepared through multiple cooking methods, such as roasting, grilling, boiling, and more, further contributing to its widespread appeal. Additionally, the advent of fast-food chains offering prepared chicken has led to increased accessibility and convenience for consumers. Health-conscious individuals often opt for chicken due to its lower cholesterol and saturated fat content, promoting its reputation as a healthier alternative to red meat.
Top Key Players for Packaged Chicken Market:
Bell & Evans Organic (US), ConAgra Foods (US), Tyson Foods (US), Pilgrim's Pride (US), Venkys (India), Koch Foods (US), Ingham's Group Limited (Australia), Perdue (US), Delightful Gourmet Pvt. Ltd. (India), Foster Farms (US), Springer Mountain Farms (US), and Other Major Players.
Market Dynamics and Factors for Packaged Chicken Market:
Drivers:
Increasing Demand for Poultry
Chicken offers various health advantages due to its abundance of niacin, phosphorous, and protein. The rise in demand for Poultry, driven by greater awareness and accessibility, fuels the worldwide packaged chicken market's expansion. Rapid urbanization and the demand for ready-to-cook chicken products further contribute to the market's growth.
Opportunities:
Growing Demand for Healthier and More Convenient Food Options
With increasing health consciousness among consumers, there is a rising interest in nutritious and protein-rich foods like chicken. By focusing on offering a wide range of well-packaged, ready-to-eat chicken products that cater to various dietary preferences and cooking styles, the market can attract health-conscious individuals and busy professionals seeking quick and wholesome meal solutions. Also, targeting emerging markets and regions with rapid urbanization and rising disposable incomes presents an opportunity for market expansion.
Segmentation Analysis of the Packaged Chicken Market:
By Type, the frozen segment is anticipated to be the dominant force in the packaged chicken market over the forecast period. Freezing meat is a widely used conservation method, preserving quality by reducing post-mortem enzyme activity and preventing microbial growth, resulting in extended shelf life. Frozen meat can be safely transported internationally, allowing for year-round availability of seasonal foods and meats across various regions worldwide.
Regional Analysis of the Packaged Chicken Market:
North America is projected to dominate the packaged chicken market, driven by the largest consumption. Chicken's popularity in the US is evident with annual consumption of approximately 15,000 tons. Factors such as a fast-paced lifestyle, modern retail industry, high disposable income, and preference for ready-to-eat products contribute to the market's growth in the region. The per capita meat consumption in North America during 2019-2021 was about 98.5 kilos, significantly higher than Africa's average of 12.7 kilos per year.
Key Industry Development:
In April 2023, Crescent Foods expanded its frozen line for retail, club, and e-commerce. From kababs to casseroles, consumers looking for flexibility with last-minute meals have a new option in the frozen section Crescent Foods Individually Frozen Halal Hand-Cut Boneless Skinless Chicken Thighs. The packaging has been designed to catch shoppers' attention with bright colors; yellow for the chicken thighs and blue for the chicken breasts.
In August 2022, Real Good Foods launched high-protein, low-carb chicken nuggets, and strips. Real Good Foods was expanding into the largest frozen food category, frozen meat and poultry, with a nutritious twist on one of U.S. consumers' favorite foods. Real Good Foods' Breaded Chicken is made from nutritious ingredients and is 100% grain-free and gluten-free, with only 3g-4g net carbs and packed with 23g protein per serving.
