Global Poultry Products Market Size, Share, Growth, and Industry Analysis, By Type (Chicken, Duck & Goose), By Application (Home & Commercial) and Regional Forecast to 2032

Updated On: 05 September 2024

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POULTRY PRODUCTS MARKET REPORT OVERVIEW

The global Poultry Products Market sizeexpanded rapidly in 2024 and the market is projected to grow substantially by 2032, exhibiting aprodigious CAGR during the forecast period.

The poultry products market consists of the production, processing, and selling of products that are produced from birds that are domesticated for the purpose of laying eggs or for food; this includes chicken, turkey, and eggs. Profitable due to the need for cheaper sources of protein; they are growing fast and are more dominant in the developing world. Technological improvements in poultry farming and people’s increasing awareness of health benefits are also the factors boosting sales in the market. However, the industry is confronted by some challenges, such as constant changes in the price of feed and animal rights issues. Currently, the market is pretty saturated by both giants and midsize producers.

COVID-19 Impact: Market Growth Restrained by Pandemic due to Supply chain disruptions

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.

The outbreak of COVID-19 had a substantial hindering effect on the poultry products market; the sales were reduced by the lockdowns that affected the supply chain and the frozen consumer expenditure. Bird rearing operations experienced problems of a shortage of labor, closure of processing plants, and movement restrictions that impacted production and supply. Further, low restaurant and hospitality businesses affected enormous orders of poultry production that aggravated the market losses. This period revealed how the sector is sensitive to adverse global developments.

LATEST TRENDS

"Market growth is driven by demand for natural, antibiotic-free poultry products"

Another emerging feature of the poultry products market is the gradual increase in the value of products with an emphasis on the natural and the absence of antibiotics. The push for change comes from the growth in health awareness and food safety concerns that compel producers to go back to natural sources in farming. Furthermore, improvements in vegetable protein and growing trends with the high protein diet wash the market form. Organic products are important, with the clean-label ethos being even more dominant, something that has been observed for the food industry as a whole.

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POULTRY PRODUCTS MARKET SEGMENTATION

By Type

Based on type the global market can be categorized into Chicken, Duck & Goose.

Chicken: Of all the poultry products, chicken is the most popular worldwide by far, mainly because it is cheap, very versatile, and healthy for the consumer. One type dominates because of its versatility across cuisines as well as across health and dietary restrictions. Favorable trends, especially the demand for lean protein sources and easy-to-prepare chicken products, have further enhanced this segment’s growth.

Duck: Duck is another poultry product that is consumed in special parts of the world and kinds of cuisine—Eastern and European ones. It has a richer taste and is relatively fattier as compared to other varieties of poultry products. Despite having a relatively small market, the increase in people’s demand for specialty and niche products is slowly leading to an increase in the consumption of duck.

Goose: Goose-like duck is a specialty poultry product that has a well-defined market niche in some selected regional and cultural markets, especially the European ones. Because it has a softer texture than meat and has a specific flavor, it is often accustomed for use in festive and traditional meals. The market for goose products, to some extent, is still small but has remained fairly constant, with the highest demand recorded during festive seasons and celebrations.

By Application

Based on application the global market can be categorized into Home & Commercial.

Home: From the home segment, poultry products are adopted for ordinary meals since they are cheap and can be prepared in various ways. Time- and quality-conscious individuals create a ready market for pre-packed or processed chicken products. This segment’s growth is further enhanced by the growing preference for cooking at home and awareness of health consciousness.

Commercial: The commercial segment comprises poultry used in restaurants, hotels, and food service industries since they offer a quality and large quantity of supply. This sector creates a market for value-added or cooked and nearly ready-to-cook poultry products in large quantities. Huge market segmentation in this segment results from foodservice innovations and trends that include gourmet foods and convenience foods.

DRIVING FACTORS

"Market growth is fueled by population increase and rising poultry demand"

Increased population across the globe and urbanization have therefore boosted the production of protein products such as poultry. Consumers in all industrially advancing countries, and more dominantly the developing nations, prefer poultry as the consumption rates increase with the increased income levels and resulting Poultry Products Market growth.

"Market growth is driven by consumer preference for lighter poultry proteins"

Customers consuming healthy products are definitely pushing for lighter proteins, and in this respect, poultry, especially chicken, gains preferential consumption. Favorable consumers’ attitude toward poultry as a meat product being better than red meat's high protein and low fat content also fuels the market expansion.

RESTRAINING FACTORS

"Market growth is restrained by animal welfare concerns and environmental impacts"

This comes out as a restraint of the poultry products market since awareness of animal well-being and environmental conservation is growing rapidly. Focus on the abuses of factory farming and the effect of large-scale poultry production on the environment may pose a threat since it will result in changes in laws and consumer preference towards meatless products, thus hampering growth.

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POULTRY PRODUCTS MARKET REGIONAL INSIGHTS

The market is primarily segregated into Europe, Latin America, Asia Pacific, North America, and Middle East & Africa.

"Market growth in North America is driven by technology, demand, and exports"

North America holds the largest Poultry Products Market share because of the technology of farming, production systems, and high demand for poultry products across the region. The location enjoys a sound infrastructure with regard to the supply chain, and higher investment is made in terms of research and development; hence, higher productivity boosts the region. Also, the action of the governments in the region promoting the consumption of poultry products and the large export of poultry products put North America in a good position in the global market.

KEY INDUSTRY PLAYERS

"Market growth is driven by research, diversification, and strategic partnerships"

Poultry Products Market plans are furthered by stakeholders through research in technologies, capacities, and efficient supply chain networks. They are also concentrating on the diversification of their production portfolio in light of changing customer tastes: organic and antibiotic-free products. These companies thus use strategic partnerships as well as acquisitions to enhance their market foothold and, in the process, drive the expansion and evolution of the industry.

List of Market Players Profiled

• Tyson Foods Inc. (US)
• JBS USA Holdings Inc. (US)
• Cargill Meat Solutions Corp. (US)
• OSI Group LLC (US)
• Hormel Foods Corp (US)

INDUSTRIAL DEVELOPMENT

April 2023:Another indication of industry growth was observed during the year when Tyson Foods one of the largest players in the market of poultry products declared its plan to inaugurate a new technologically advanced poultry processing factory in the Humboldt. This facility is for expanding the production capacity to satisfy the increased demand of poultry products in the United States.

REPORT COVERAGE

The study encompasses a comprehensive SWOT analysis and provides insights into future developments within the market. It examines various factors that contribute to the growth of the market, exploring a wide range of market categories and potential applications that may impact its trajectory in the coming years. The analysis takes into account both current trends and historical turning points, providing a holistic understanding of the market's components and identifying potential areas for growth.

The research report delves into market segmentation, utilizing both qualitative and quantitative research methods to provide a thorough analysis. It also evaluates the impact of financial and strategic perspectives on the market. Furthermore, the report presents national and regional assessments, considering the dominant forces of supply and demand that influence market growth. The competitive landscape is meticulously detailed, including market shares of significant competitors. The report incorporates novel research methodologies and player strategies tailored for the anticipated timeframe. Overall, it offers valuable and comprehensive insights into the market dynamics in a formal and easily understandable manner.