Authored By: Sarah
11 Jul 2024

 Poultry Meat Market Size to grow by USD 28.95 million between 2024-2028

According to a research report “ Poultry Meat Market” by Product (Chicken meat, Turkey meat, Duck meat, Others) Distribution Channel (Offline, Online) Geography (APAC, North America, South America, Europe, Middle East and Africa)- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 28.95 million, at a CAGR of over 1.36% during the forecast period. The global poultry meat market is experiencing significant growth due in part to the increasing number of innovative product launches. These new offerings serve to boost revenue and enhance market presence for industry participants. One such introduction is Pescafresh's new line of NAE Chicken Deli meats, launched under the SaSH22 RTE-RTC range in August 2022. This premium product, made with trademarked, antibiotic-free chicken, distinguishes itself as a gourmet, waste-free dish, catering to the growing consumer demand for high-quality, sustainable meat options.

Browse market data tables, figures, and in-depth TOC on “Poultry Meat Market” by Product (Chicken meat, Turkey meat, Duck meat, Others) Distribution Channel (Offline, Online) Geography (APAC, North America, South America, Europe, Middle East and Africa) Global Forecast to 2028. Download Free Sample

 

By Product, the Chicken meat segment is projected to dominate the market size in 2024

The global poultry meat market encompasses various offline distribution channels catering to consumers' preferences. Traditional grocery stores, supermarkets, hypermarkets, specialty meat shops, butcher shops, foodservice providers (restaurants, hotels, catering services), and wet markets constitute these channels. These channels represent physical locations where consumers can procure poultry meat products directly. Traditional grocery stores are medium-to-small establishments, providing a broad assortment of food items, including poultry meat, primarily serving local communities. Supermarkets, in contrast, are larger retailers stocking an extensive range of goods, including poultry meat, and are situated in both urban and suburban areas, often featuring multiple departments.

By Distribution Channel, Offline  segment is expected to hold the largest market size for the year 2024

The global poultry meat market is characterized by a substantial segment of chicken meat, making up a significant portion of international meat consumption. This preference for chicken is driven by its affordability, versatility, and health benefits, making it a popular choice for consumers seeking convenient and high-protein food options. The market for poultry meat is projected to expand steadily over the forecast period, with chicken meat playing a pivotal role due to its large market share. Key factors fueling demand include the relative affordability of chicken compared to other meats, its accessibility, and its widespread acceptance across various cultures and culinary traditions.

APAC is forecasted to hold the largest market size by region in 2024

The poultry meat market in the Asia-Pacific region is projected to experience significant growth in the forecast period, driven by factors such as rising health consciousness, the convenience of processed poultry products, and the expansion of quick-service restaurants. Poultry, a rich source of protein, is a preferred choice among health-conscious consumers and fitness enthusiasts. In particular, chicken meat is popular in countries like India and China. However, China is currently facing a poultry meat shortage. In an effort to capitalize on this opportunity, Tyson Foods, a leading global food company, introduced a line of halal-certified processed chicken products in Malaysia in August 2022. The product range includes chicken nuggets, chicken patties, and chicken sausage, all made with Tyson's signature chicken blend.

The Poultry Meat Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:

  • 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.
  • Industrias Bachoco SAB de CV
.

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Research Analysis Overview

Title: Poultry Meat Market: Urbanization Trends Fuel Demand for Chicken among Internet Users The poultry meat market is witnessing significant growth, driven by urbanization trends and changing consumer preferences. Brands like Suguna Chicken, ITC Master Chef, Foster Farms, and Tyson Foods are capitalizing on this trend, offering a wide range of products such as chicken wings, tenderloins, nuggets, chicken chips, and chicken bites. Internet users are playing a crucial role in this growth, with increasing numbers of consumers ordering poultry meat online from international retailers and off-trade channels. The foodservice industry, including tourism and foodservice outlets, is a major contributor to the on-trade channel of the poultry meat market. International tourists and their tourism spending, particularly in countries known for their poultry dishes, are also driving demand. However, challenges such as HPAI outbreaks, Brexit, health concerns, and environmental concerns are posing threats to the market's growth. Consumer eating trends, including the popularity of chicken wings and nuggets, continue to shape the market. The poultry meat market is expected to remain dynamic, with continued innovation and adaptation to consumer preferences.

Market Research Overview

The global poultry market is experiencing significant growth due to population growth and increasing consumption of meat products. The end-user poultry market, which includes developed economies, is a major driver of this trend. Commodity prices, global GDP growth, and economic growth are key factors influencing the poultry market. Poultry manufacturing, particularly in regions like Europe, has seen challenges due to supply shortages and rising prices for poultry, driven by factors such as soybean and corn prices for poultry feed. Technological advancements in poultry processing, including wireless communication technologies and cyber-physical systems, are improving material yield and processing efficiency. Biosecurity advancements, genetical modification, and production automation are also playing a role in increasing profitability in the poultry industry. Major poultry processors, such as Suguna Chicken, ITC Master Chef, Foster Farms, and Tyson Foods, are producing a range of products including chicken wings, tenderloins, nuggets, chicken chips, and chicken bites. Product availability is a key concern for international tourists and foodservice outlets in the on-trade channel, as well as for domestic demand. HPAI outbreaks and health and environmental concerns are also impacting the market. Consumer eating trends, food costs, and urbanization trends are other factors influencing the poultry market. Internet retailers and off-trade channels are also becoming increasingly important in the poultry meat market.

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Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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