Market Introduction
North America comprises economies such as the US, Canada, and Mexico. The raw chicken meat market is expected to register significant growth, owing to the growing consumption of meat and poultry products across the region. According to the United States Department of Agriculture (USDA), the poultry industry in the US is one of the largest producers and exporters of poultry meat across the globe. The consumption of poultry meat (broilers, other chicken, and turkey) in the US is comparatively higher than that of beef or pork. This is significantly contributing to the growth of the raw chicken meat market. Poultry meat and eggs are known to include protein and micronutrients such as vitamins from group B, iron, and zinc, all of which may contribute to consumer health and nutrition. Moreover, increasing demand for protein-rich food products and growing concerns related to health and fitness among people in the region are some of the key factors expected to boost the market growth during the forecast period.
The unprecedented rise in the number of COVID-19 cases across the US and Canada, along with the subsequent lockdown of production facilities in the countries, has negatively influenced the growth of the various markets. As per Frontiers Media S.A., in April 2020, poultry processors were directed to depopulate their sheds. In the US, most meat processing plants were forced to work at decreased levels than their average capacity.
Market Overview and Dynamics
The raw chicken meat market in North America is expected to grow from US$ 41,938.20 million in 2021 to US$ 53,393.81 million by 2028; it is estimated to grow at a CAGR of 3.5% from 2021 to 2028. There has been a high demand for chicken meat as it is lower priced than pork and beef. According to the Organization for Economic Co-operation and Development (OECD), although there has been an escalation in the production of various types of meat since the 1960s, the production and consumption of chicken have grown faster. It is anticipated that the trend will continue as the price of chicken meat is lower than that of pork and beef. The increasing use of technology has contributed to improving productivity, which has led to a drop in relative prices compared to beef and pork. According to the Food and Agriculture Organization (FAO), in 2020, poultry meat prices declined the most (-9.8 %), followed by ovine (-5.7 %), pig (-3.6 %), and bovine (-1.4 %) meats. Thus, the reduction in prices of chicken meat is anticipated to propel market growth.
Key Market Segments
North America raw chicken meat market is segmented into type, distribution channel, and country. Based on type, the North America raw chicken meat market is segmented into whole chicken, chicken breast, thighs, drumstick, wings, and others. The chicken breast segment accounted for the largest market share in 2020. Based on distribution channel, the North America raw chicken meat market is segmented into supermarkets and hypermarkets, specialty stores, online retail, and others. The specialty stores segment accounted for the largest market share in 2020. Based on country, the North America raw chicken meat market is segmented into US, Canada, and Mexico. US held the largest market share in 2020.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on the raw chicken meat market in North America are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Amick Farms, Foster Farms, JBS (Primo Butcher Shop), Koch Foods, Mountaire Farms, Perdue, Pilgrim's, Sanderson Farms, Tyson Foods, and Wayne Farms Llc.
Reasons to buy report
North America Raw Chicken Meat Market Segmentation
North America Raw Chicken Meat Market - By Type
North America Raw Chicken Meat Market - By Distribution Channel
North America Raw Chicken Meat Market - By Country
North America Raw Chicken Meat Market - Company Profiles
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 41,938.20 Million |
| Market Size by 2028 | US$ 53,393.81 Million |
| CAGR (2021 - 2028) | 3.5% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Type
|
| Regions and Countries Covered |
North America
|
| Market leaders and key company profiles |
|
The North America Raw Chicken Meat Market is valued at US$ 41,938.20 Million in 2021, it is projected to reach US$ 53,393.81 Million by 2028.
As per our report North America Raw Chicken Meat Market, the market size is valued at US$ 41,938.20 Million in 2021, projecting it to reach US$ 53,393.81 Million by 2028. This translates to a CAGR of approximately 3.5% during the forecast period.
The North America Raw Chicken Meat Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the North America Raw Chicken Meat Market report:
The North America Raw Chicken Meat Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The North America Raw Chicken Meat Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the North America Raw Chicken Meat Market value chain can benefit from the information contained in a comprehensive market report.
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