The South & Central America chicken extract market was valued at US$ 196.92 million in 2022 and is expected to reach US$ 278.60 million by 2030; it is estimated to record a CAGR of 4.4% from 2022 to 2030.
Consumer Inclination Toward Nutritional Food Fuels South & Central America Chicken Extract Market
The awareness regarding health and nutrition has increased significantly, owing to which there has been a rapid shift in consumer food preferences. According to the Nielsen Global Health and Wellness Report, 2020, half of the respondents were overweight, while half were trying to lose weight. People seek fresh products that are natural, organic, and minimally processed. Moreover, youngsters are most inclined toward purchasing premium goods with health claims as they increasingly adopt healthier food habits. Broth made from chicken meat has also gained tremendous popularity owing to its nutritional value and various health benefits. The demand for different broth types is increasing as they help improve immunity, hydration, and muscle protein synthesis; support joint and bone health; and antiaging properties. The inclusion of macronutrients and micronutrients in a good proportion with a high concentration of proteins drives the popularity of bone broth among consumers as an alternative to other protein sources.
Glutamine and a few more amino acids present in bone broth may also aid in effective digestion. This may help with conditions such as leaky gut, which is characterized by the irritation of the mucosal lining in the intestines and interference with the body's ability to digest food. According to a new randomized trial, the ingredients extracted from chicken meat can boost cognitive function. The rising awareness among consumers regarding the cognitive benefits of chicken extract consumption has propelled its demand. Thus, rising consumer inclination toward nutritious food is expected to contribute to the growth of the South & Central America chicken extract market positively.
South & Central America Chicken Extract Market Overview
The demand for chicken extracts is surging in South & Central America due to several drivers. First, the growing awareness of sustainability and ethical sourcing in food production influences consumer choices. As more people seek responsibly sourced and environmentally friendly products, chicken extracts from humanely raised chickens and sustainable farming practices are gaining traction. Consumers are increasingly inclined to choose products that align with their values, contributing to the demand for ethically sourced chicken extracts.
Second, the rise of health consciousness drives the demand for chicken extracts in South & Central America. Consumers are becoming more concerned about the nutritional content of their foods. When produced with low-sodium and low-fat options, chicken extracts appeal to many individuals looking to reduce sodium intake and maintain a balanced diet. This health-oriented perspective has led to an increased preference for chicken extracts as a flavor enhancer that can be incorporated into healthier meal choices.
The influence of traditional and regional cuisine also plays a significant role in driving the demand for chicken extracts. South & Central America is known for diverse culinary traditions; chicken is a crucial ingredient in many dishes. Chicken extracts are favored for intensifying the flavors in traditional recipes such as mole sauces, empanadas, and stews. As people continue to appreciate and celebrate their rich culinary heritage, the demand for chicken extracts remains robust, serving as an essential ingredient in preserving and enhancing the authenticity of these cherished dishes.
South & Central America Chicken Extract Market Revenue and Forecast to 2030 (US$ Million)
South & Central America Chicken Extract Market Segmentation
The South & Central America chicken extract market is segmented based on product type, category, distribution channel, and country.
Based on product type, the South & Central America chicken extract market is segmented into chicken powder, broth and stock, and chicken paste. The broth and stock segment held the largest share in 2022.
In terms of category, the South & Central America chicken extract market is bifurcated into organic and conventional. The conventional segment held a larger share in 2022.
By distribution channel, the South & Central America chicken extract market is segmented into supermarkets and hypermarkets, convenience stores, online retail, and others. The supermarkets and hypermarkets segment held the largest share in 2022.
Based on country, the South & Central America chicken extract market is categorized into Brazil, Argentina, and the Rest of South & Central America. The Rest of South & Central America dominated the South & Central America chicken extract market in 2022.
Campbell Soup Co, The Kraft Heinz Co, Unilever Plc, and Hormel Foods Corp are some of the leading companies operating in the South & Central America chicken extract market.
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