Chicken based ingredients market generated $1.36 billion in 2020, and is expected to reach $2.98 billion by 2030, witnessing a CAGR of 8.4% from 2021 to 2030.
Chicken based 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 food supplement.
The rapid evolution of consumer preferences is one of the major factors driving innovation in the food & beverage industry. At the moment, market trends for chicken based ingredients indicate that demand for these ingredients is expected to experience an increase in the coming years, owing to a steady rise in the number of health-conscious people around the world, as well as surge in awareness about the benefits of these ingredients. As a result, in recent years, chicken-based ingredients have grown in popularity.
Based on distribution channel, the specialty stores segment held the largest share in 2020, accounting for more than one-third of the total share of the global chicken based ingredients market, and is expected to maintain its leadership status during the forecast period. Moreover, this segment is projected to witness the largest CAGR of 9.6% from 2021 to 2030.
