Frozen Chicken Market Rising Valuation to Reach $46.5 Bn by 2032 | Tyson Foods, Inc., JBS S.A., Cargill, Farbest Foods

WILMINGTON, NEW CASTLE, DELAWARE 19801 USA, UNITED STATES, April 16, 2024 /EINPresswire.com/ -- According to a new report published by Allied Market Research, titled, “Frozen Chicken Market," The frozen chicken market size was valued at $22.2 billion in 2022, and is estimated to reach $46.5 billion by 2032, growing at a CAGR of 7.8% from 2023 to 2032.

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Frozen chicken refers to chicken meat that has been subjected to a freezing process to extend its shelf life and preserve its quality. The process involves lowering the temperature of the chicken below its freezing point, typically to around -18 degrees Celsius (0 degrees Fahrenheit) or lower. This rapid freezing helps to inhibit the growth of microorganisms and slow down chemical reactions that can lead to spoilage.

Frozen chicken market growth provides a quick and easy solution for meal preparation, aligning with the busy lifestyles of individuals. Busy lifestyles can also lead to a shift in dietary patterns. Consumers may opt for processed and convenient food options like frozen chicken due to their ease of preparation and storage. Moreover, consumers with more spending power may be willing to invest in products that offer superior taste, texture, and nutritional value. As disposable incomes rise, the market for frozen chicken is expected to expand beyond traditional consumer segments. More consumers from diverse economic backgrounds may afford and choose frozen chicken products, broadening the overall market reach. With increased purchasing power, consumers may look for variety and innovation in frozen chicken offerings. Manufacturers may respond by introducing value-added products, such as seasoned or marinated frozen chicken, catering to the evolving preferences of affluent consumers.

The frozen chicken market is subject to various regulations governing food safety, labeling, packaging, and transportation. Compliance with these regulations is mandatory for market access. Stringent regulations may require substantial investments in infrastructure and processes to meet specific standards, which can be a barrier for smaller producers. Regulatory standards for food safety and quality often evolve in response to emerging risks, technological advancements, and scientific discoveries. Keeping up with these changes can be challenging for businesses. Frequent updates may necessitate modifications to production processes, supply chain practices, and labeling, leading to additional costs and efforts. Different countries may have distinct regulatory frameworks and standards for frozen chicken imports.

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Exporting frozen chicken allows producers to diversify their customer base and reduce dependency on domestic markets. This is particularly advantageous in regions where there is a surplus of chicken production. As global populations grow and economies develop, there is an increasing demand for protein-rich food sources, including chicken. Producers in regions with surplus chicken may benefit from economies of scale, leading to cost-competitive production. This cost advantage can make their frozen chicken products more attractive in international markets. Beyond basic frozen chicken cuts, producers can explore opportunities in exporting value-added products such as marinated, seasoned, or pre-cooked frozen chicken. These products cater to diverse consumer preferences and offer higher profit margins. Producers can explore opportunities created by favorable trade agreements between their country and potential import markets. Government support, subsidies, or incentives for agricultural exports can further boost the competitiveness of frozen chicken in the international market. These factors are anticipated to boost the frozen chicken market opportunities expansion in the upcoming years.

The frozen chicken market analysis share is segmented on the basis of type, product, distribution channel, and region. By type, it is classified into chicken breast, chicken thigh, chicken drumstick, chicken wings, and others. By product, it is classified into chicken nuggets, chicken popcorn, chicken fingers, and chicken patty. By distribution channel, it is classified into supermarkets/hypermarkets, convenience stores, specialty stores, and online retail. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

The key players profiled in the frozen chicken market report include Tyson Foods, Inc., JBS S.A., Cargill, Incorporated, Farbest Foods, Perdue Farms, Sanderson Farms, Inc., Hormel Foods Corporation, Inghams Group Limited, BRF S.A., and Pilgrim's Pride Corporation.

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The report offers a comprehensive analysis of the global frozen chicken market forecast trends by thoroughly studying different aspects of the market including major segments, market statistics, market dynamics, regional market outlook, investment opportunities, and top players working towards the growth of the market. The report also highlights on the present scenario and upcoming trends & developments that are contributing toward the growth of the frozen chicken market size. Moreover, restraints and challenges that hold power to obstruct the market growth are also profiled in the report along with the Porter’s five forces analysis of the frozen chicken market share to elucidate factors such as competitive landscape, bargaining power of buyers and suppliers, threats of new players, and emergence of substitutes in the frozen chicken market trends.

►Impact of COVID-19 on the Global Frozen Chicken Industry

The pandemic disrupted global supply chains, affecting the availability of frozen chicken products. As people stayed home and restaurants closed or operated with limited capacity, there was a surge in demand for frozen foods, including frozen chicken, at grocery stores. Consumers stocked up on long-lasting, convenient food options.

Concerning virus transmission, consumers became more aware regarding food safety and hygiene. Frozen chicken, when properly handled and stored, is known for its food safety, which contributed to its increased popularity during the pandemic. International trade in frozen chicken was affected by travel restrictions, border closures, and changes in demand. Some exporting countries faced challenges in getting their products to market, while importing countries had to adjust to new sourcing strategies.

Restaurants and foodservice establishments, which are significant consumers of frozen chicken products, experienced reduced demand due to lockdowns and restrictions. This impacted the demand for specific types of frozen chicken products typically used in these settings

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Key Findings of the Study

►Based on type, the chicken drumstick sub-segment accounted for a dominant market share in 2022 and is projected to have a dominant market share during the forecast period.

►Based on product, the chicken nuggets sub-segment accounted for a dominant market share in 2022 and is projected to have a dominant market share during the forecast period.

►Based on distribution channel, the supermarkets/hypermarkets sub-segment accounted for a dominant market share in 2022 and the online retail sub-segment is projected to have a dominant market share during the forecast period.

►Based on region, Asia-Pacific accounted for a dominant market share in 2022 and is projected to maintain its position during the forecast period.

𝐓𝐨𝐩 𝐓𝐫𝐞𝐧𝐝𝐢𝐧𝐠 𝐑𝐞𝐩𝐨𝐫𝐭𝐬:

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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