Chicken Meat Market Analysis

The global chicken meat market is expected to grow significantly over the forecast period, driven by increasing global population and purchasing power of people. Chicken meat is the most preferred meat among beef, pork, and other red meat, and is comparatively less expensive. Increasing production and consumption of chicken meat compared to other meat products are expected to drive growth of the market over the forecast period.

Market Breakdown

By Product Type

1. Burger Patties: Burger patties are a popular product type in the chicken meat market.
2. Sausages: Sausages are another popular product type, often used in various dishes.
3. Nuggets and Strips: Nuggets and strips are popular in fast food and casual dining.
4. Ground Meat: Ground meat is used in various dishes, such as burgers, meatballs, and meatloaf.
5. Meatballs: Meatballs are a popular product type, often used in various cuisines.
6. Others: This category includes other types of chicken meat products such as chicken wings, chicken tenders, and chicken breasts.

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By Distribution Channel

1. Food Retail: Food retail is the primary distribution channel for chicken meat products.
2. Food Service: Food service includes restaurants, cafes, and other establishments that serve chicken meat products.
3. E-Commerce: E-commerce is becoming increasingly popular for purchasing chicken meat products.

By Storage

1. Refrigerated Plant Based Meat: Refrigerated plant-based meat products are stored at a temperature below 4°C.
2. Frozen Plant Based Meat: Frozen plant-based meat products are stored at a temperature below -18°C.
3. Shelf Stable Plant Based Meat: Shelf-stable plant-based meat products are stored at room temperature.

Companies

1. The Kraft Heinz Company
2. Tyson Foods Inc.
3. Pilgrim's Pride Corporation
4. Danish Crown Group
5. BRF S.A
6. WH Group
7. Hormel Foods Corporation
8. Wens Foodstuff Group

Porter’s Five Forces Analysis

1. Bargaining Power of Buyers: Buyers have significant bargaining power in the plant-based meat market.
2. Bargaining Power of Suppliers: Suppliers have moderate bargaining power in the plant-based meat market.
3. Degree of Rivalry: The degree of rivalry is high in the plant-based meat market due to the presence of several companies.
4. Threat of New Entrants: The threat of new entrants is moderate in the plant-based meat market.
5. Threat of Substitutes: The threat of substitutes is low in the plant-based meat market.

SWOT Analysis

1. Strengths: The plant-based meat market has several strengths, including increasing demand and a growing global population.
2. Weaknesses: The plant-based meat market has several weaknesses, including high production costs and competition from traditional meat products.
3. Opportunities: The plant-based meat market has several opportunities, including increasing demand for plant-based products and growing awareness about the health benefits of plant-based diets.
4. Threats: The plant-based meat market has several threats, including competition from traditional meat products and regulatory challenges.

Forecast

The global chicken meat market is expected to grow significantly over the forecast period, driven by increasing global population and purchasing power of people. The market is expected to reach US$ 253.25 Billion by 2032 from US$ 151.92 Billion in 2023, with a CAGR of 5.84% from 2024 to 2032.

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