Chicken Ingredients Market size was valued at USD 1364.7 Million in 2020 and is projected to reach USD 2982.5 Million by 2030, registering a CAGR of 8.4%
PORTLAND, OREGON, USA, July 23, 2022 /EINPresswire.com/ — Chicken ingredients are derived from chicken through a variety of processes, including rendering and extraction. Chicken-based ingredients are used to enhance the flavors and textures of the dish. These are also used in pet food and as a dietary supplement.
Rapidly changing consumer preferences are one of the main drivers of innovation in the food industry. Currently, chicken ingredients market trends indicate that the demand for these ingredients is expected to witness an increase in the coming years, owing to a steady increase in the number of health conscious people in the world, as well as an increased awareness of the benefits of these ingredients. As a result, in recent years, chicken ingredients have grown in popularity.
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The major players in the global chicken ingredients industry are Bare Bones, Borough Broth, Brodo, Broth of Life, Epic Provisions, International Dehydrated Foods Inc., Kettle and Fire Inc., Lonolife, Manischewitz, Pacific Foods of Oregon LLC, Piermen BV, Proliver, Sanimax, Stara Foods and Symrise AG.
Moreover, over the past decade, a large number of players have gradually entered the global chicken ingredients market resulting in the availability of these ingredients for a wide range of applications through various marketing channels. distribution. Another factor that has contributed to the popularity of chicken ingredients in recent years is the digital boom, which has seen brands continue to promote their products through online sales channels such as social media, newsletters and the email marketing. As the global chicken ingredients market remains competitive, companies are expected to focus on packaging, pricing strategies, and marketing strategies to gain a competitive advantage in the current market landscape.
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Different types of chicken ingredients available in the market include protein powder, broth, fat, oil, bone broth, and protein.
By type, the fats segment was the largest contributor to revenue in 2020, due to the fact that chicken fat is used in the production of oil and proteins which are used in the food and beverage and beverage industries. food supplements.
By application, the food and beverage segment held the largest chicken ingredients market share as chicken ingredients are widely used in various dishes. By distribution channel, the specialty store segment led the market in the chicken ingredients market forecast, due to the availability of a wide variety of chicken ingredients in these stores.
Government initiatives to promote agricultural enterprises have increased investment in agribusinesses. This is expected to help combat the surge in food demand and could fuel the chicken ingredients market. Moreover, the skyrocketing preference for high protein content in diet products has increased the demand for chicken-based ingredients, which may provide a positive outlook in this market.
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Also, the increased use of animal feed is expected to increase the demand for chicken ingredients. The consumption of chicken ingredients has increased due to the removal of traditional and cultural barriers, as well as the expansion of fast food chains, which is expected to fuel the expansion of the market.
On the contrary, the chicken ingredients market is expected to be hampered by strict regulations governing quality standards and clean labeling. Furthermore, increasing health consciousness resulting from excessive consumption of chicken ingredients, along with increased consumer awareness of ethical and religious beliefs, is likely to hamper the growth of the ingredients market. chicken based.
Main results of the study
The global Chicken Ingredients Market size was valued at USD 1,364.7 Million in 2020 and is projected to reach USD 2,982.5 Million by 2030, registering a CAGR of 8.4% from 2021 to 2030 .
By region, North America was the largest revenue contributor, accounting for $449.0 million in 2020, and is expected to reach $1,055.8 million by 2030, at a CAGR of 9.3% .
By type, the fats segment was the largest contributor to the chicken ingredients market, with $458.6 million in 2020, and is expected to reach $1,108.8 million by 2030, at a CAGR 9.6% over the forecast period.
By application, the food and beverage segment was the largest contributor to the chicken ingredients market, with $459.5 million in 2020, and is expected to reach $1,095.2 million by 2030, at a CAGR of 9.4% over the forecast period.
By region, in North America, the United States was the largest revenue contributor with $194.0 million in 2020, and is projected to reach $496.2 million by 2030, registering a CAGR of 10, 2%.
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