Global Chicken Market, Size, Share, Forecast 2022-2027
According to Renub Research report titled, “Global Chicken Market, Size, Share, Forecast 2022-2027, Industry Trends, Growth, Impact of COVID-19, Opportunity Company Analysis” The Worldwide Chicken Market Size was USD 196.02 Billion. The chicken market has increased, consolidation, and globalized in multiple countries of all income levels, mainly owing to strong demand. The major producers are likely to achieve significant advances, with the United States, Brazil, and China leading the way. Globally, the chicken industry is most dynamic and adaptable in the worldwide livestock market. Furthermore, the chicken, which was formerly considered a unique treat, is today the most devoured animal on the planet. The chicken meat industry plays a vital role in nutrition and is the fastest-growing agricultural sub-sector, particularly in emerging countries.
The Chicken Market will grow at a nominal growth rate:
The chicken industry is one of the most competitive markets in the world, and it is presently mature. Besides, consumer awareness of animal-rich protein has increased significantly in the last few years. Moreover, chicken meat is becoming increasingly popular among people in both developed and developing countries, and it is expected that this trend will continue in the future years. As a result, the market has been growing nominally with considerable growth rates over the last few years, anticipating to increase significantly in the forecast period, i.e., 2021-2027. Furthermore, many companies are generating clean meat in laboratories employing cell technology, which avoids the use of animal slaughter. As per our analysis, during 2021-2027, the Global Chicken Market market is predicted to grow at a CAGR of 0.96%.
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China, the United States, and Brazil are the Largest Producers of Chicken:
Over the period of time, global chicken production has seen upsurge records in various countries such as European Union, Russia, China, Brazil, India, Argentina, Turkey, Columbia, Mexico, Thailand, and the United States. As per our report, the United States, Brazil, China are the leading chicken producers worldwide. Several companies and manufacturers worldwide have taken steps to introduce cell-based chicken meat, which is gaining popularity in the market. For instance, as published on March 1, 2021, in CNBC, Eat Just, a multibillion-dollar company, is selling lab-grown chicken worldwide. Aside from that, the nutritional benefits of chicken meat products are well-known around the world.
China, Thailand, and the European Union have Significant Consumption Markets:
In our report, we have analyzed the consumption market of chicken in Brazil, China, the European Union, India, Russia, Mexico, Thailand, Argentina, Columbia, Turkey, and the United States. Remarkably, the United States, China, and Brazil are the leading chicken-consuming countries in the world. Moreover, we have accessed that China had the most impressive consumption growth rate in terms of poultry consumption per capita among the leading consumer countries. In contrast, other global leaders' poultry consumption per capita grew considerably slower.
Importing and Exporting Countries of the Chicken:
We have covered Mexico, Japan, China, European Union, Saudi Arabia, United Arab Emirates, South Africa, Iraq, the Philippines, and United Kingdom. As per our analysis, Japan, Mexico, and United Kingdom are the major importing countries. Further based on our report, we have analyzed the export market of the European Union, Brazil, Ukraine, Thailand, China, Turkey, Belarus, Argentina, Russia, and the United States. Remarkably, Brazil, the United States, and European Union are the leading exporters.
Key Players
Our report includes JBS S.A., Tyson Foods, Pilgrim's Pride Corporation, Danish Crown Group, Vion Food Group, WH group, Hormel Foods Corporation, Muyuan Foods, among the key market players. Further, our analysis includes a business overview, sales analysis, and recent development of the companies.
COVID-19 Impact on the Global Chicken Industry
During the pandemic, chicken sales in the first few months were regularly declining as rumors spread that COVID-19 could be transmitted through meat consumption. However, as per our analysis, the chicken market will rebound in the forecast period, i.e., 2021-2027. Production and transportation disruptions, dwindling consumer demand, and fluctuating markets wreaked havoc on farm finances, forcing many to close permanently. The distribution of chicken and poultry products was hampered by market risks such as value chain fragmentation, high intermediation costs, and no or limited traceability. Hence, the global chicken market saw a negative impact during the pandemic.
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Market Summary:
Production: We have covered chicken production in China, Brazil, European Union, Russia, India, Mexico, Thailand, Argentina, Turkey, Columbia, United States.
Consumption: Our report includes China, Brazil, the European Union, Russia, Mexico, South Africa, Japan, Argentina, the United Kingdom, Thailand, and the United States as consuming countries of the global chicken market.
Import: In our report, we have covered Japan, Mexico, China, European Union, United Arab Emirates, Saudi Arabia, Iraq, South Africa, the Philippines, and United Kingdom as importing countries.
Export: We have covered chicken export in Brazil, European Union, Thailand, Ukraine, China, Turkey, Belarus, Russia, Argentina, and the United States.
Key Players: Our report includes companies like JBS S.A., Tyson Foods, Pilgrim's Pride Corporation, Danish Crown Group, Vion Food Group, Hormel Foods Corporation, WH group Muyuan Foods as key market players in the global chicken industry.
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