DUBLIN, January 25, 2022--(BUSINESS WIRE)--The "Chicken based ingredients Market by Type, Application, and Distribution Channel: Global Opportunity Analysis and Industry Forecast 2021-2030" report has been added to ResearchAndMarkets.com's offering.
The global chicken based ingredients market was valued at $1,364.7 million in 2020, and is estimated to reach $2,982.5 million by 2030, registering a CAGR of 8.4% from 2021 to 2030.
Chicken-based ingredients are classified as oil, bone broth, protein, fat, broth, and protein powder. All of these ingredients are used in a variety of industries, including biodiesel, animal feed, pet food, food & beverage, food supplements, and pharmaceuticals.
Chicken consumption and production have increased significantly over the last few decades. This has resulted in increase in sales of chicken-based ingredients. Rise in demand for processed and convenience foods, as well as the incorporation of chicken based ingredients into these products, is projected to drive the chicken based ingredients market during the forecast period.
The poultry industry is dealing with rumors about coronavirus spreading through the consumption of chicken and chicken products. Lockdowns have been declared in some areas to combat the coronavirus pandemic, which has disrupted the movement of vehicles transporting livestock, feed, and feed ingredients. Raw material price volatility, on the other hand, is a major challenge for manufacturers around the world during COVID-19. This had a negative impact on the growth of chicken based ingredients market.
The global chicken based ingredients market is expected to witness increased popularity of online retailing due to factors such as the increase in millennial population, rise in disposable income, and surge in number of urban consumers.
The increased demand for chicken based ingredients in food & beverage, and animal feed industries drives the growth of the market. Chicken-based ingredients are used to make biodiesel because they are less expensive alternatives to oils such as soybean and canola, and they are readily available from butcher shops and food processing companies. Chicken-based ingredients have proven to be a favorable raw material due to its low cost and high yield potential. Furthermore, they are widely used in the production of animal feed and pet meals because they are high in essential fatty acids and thus boost the nutritional value of the feed. This in turn fuels the market expansion.
The chicken based ingredients market is segmented on the basis of type, application, distribution channel, and region. On the basis of type, the market is categorized into oil, broth, fat, and protein. As per application, it is divided into food & beverage, animal feed, biodiesel, and food supplement. According to distribution channel, the chicken based ingredients market is fragmented into hypermarkets & supermarkets, convenience stores, specialty stores, and online sales channel. Region-wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (the UK, France, the Netherlands, Germany, Turkey, and the rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia, and the rest of Asia-Pacific), and LAMEA (Brazil, South Africa, the UAE, and the rest of LAMEA).
This report provides a quantitative analysis of current trends, estimations, and dynamics of the global chicken based ingredients market from 2021 to 2030 to identify the prevailing market opportunities.
Porter's five forces analysis highlights the potency of the buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global industry. The market player positioning segment facilitates benchmarking while providing a clear understanding of the present position of the key market players.
The report includes analyses of the regional as well as global market, key players, market segments, application areas, and growth strategies.
Growing preference for nutritious food among consumers
Rise in health and fitness related food & beverage
Increased demand from downstream industries such as biodiesel, food and beverage, pharmaceutical, and animal feed
Extraction of oil requires large capital investments
Growing concerns about the health effects of excessive chicken fat and oil consumption
Expansion of the sales and distribution network
Increasing adoption in food industry
Broth of Life
International Dehydrated Foods Inc.
Kettle and Fire Inc.
Pacific Foods of Oregon LLC
Sanimax S.A.a Foods
For more information about this report visit https://www.researchandmarkets.com/r/kvuvpv
View source version on businesswire.com: https://www.businesswire.com/news/home/20220125005696/en/
Laura Wood, Senior Press Manager
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