According to analysis from ResearchandMarkets.com, the global chicken market size was US$196.0 Billion in 2021 and is expected to reach US$207.6 Billion in 2027.
Driven primarily by robust demand, the chicken market has expanded, consolidated, and globalized in numerous countries of all income levels. Over the years, global chicken production has been recording year-on-year hikes across countries like China, Brazil, European Union, Russia, India, Mexico, Thailand, Argentina, Turkey, Columbia, and United States. The major producers are expected to make remarkable gains with the most significant growth in the United States, Brazil, and China.
Furthermore, despite relatively high feed prices squeezing profitability globally in the producing countries, expansion is spurred by robust demand as consumers are more inclined to seek low-cost animal protein. Also, expectations of an improved economic outlook, easing COVID-related production problems, and strong domestic and foreign demand are further expected to drive the higher global production output.
The report analysed the consumption market of China, Brazil, the European Union, Russia, Mexico, South Africa', Japan, Argentina, Thailand, the United Kingdom, and the United States. As per the analysis, the chicken consumption rates in China, Thailand, and European Union have peaked their market share and will continue to expand in the near future, summing up to develop the chicken meat industry on the whole.
It is estimated that among the leading consumer countries, China is estimated to achieve the most remarkable consumption growth rate in terms of poultry consumption per capita, while for other global leaders, poultry consumption per capita showed much more modest growth.
The report has covered Japan, Mexico, China, European Union, United Arab Emirates, Saudi Arabia, Iraq, South Africa, the Philippines, and the United Kingdom as importing countries. Amongst the importing countries, China, Japan, and Mexico are major importing countries globally. The global chicken meat market is expected to expand with a nominal CAGR of 0.96% during 2021-2027.