Chicken Extract Market Key Manufacturers, Development Trends and Competitive Analysis

The chicken extract market is expected to grow from US$ 3,015.62 million in 2022 to US$ 4,091.01 million by 2030; it is expected to record a CAGR of 3.9% from 2022 to 2030.

The surging demand for chicken extracts worldwide can be attributed to a combination of factors related to both culinary preferences and health-conscious choices. Firstly, consumers are increasingly looking for ways to elevate the flavor profile of their dishes, and chicken extract provides a concentrated and savory poultry essence that can enhance a wide range of recipes. From soups and stews to gravies and sauces, chicken extract offers a convenient and flavorful solution to the growing interest in culinary experimentation and gourmet cooking.

Secondly, health-conscious consumers are drawn to chicken extract because it aligns with their dietary goals. Chicken is a lean source of protein, and chicken extract offers a way to infuse dishes with rich poultry flavor without the need for added fats or sodium-heavy seasonings. This appeals to individuals following diets focused on clean eating, low-fat options, or protein-rich meals. Additionally, the versatile nature of chicken extract allows them to be incorporated into various diets, contributing to their popularity among those seeking healthier and more flavorful food choices.

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Based on product type, the chicken extract market is segmented into chicken paste, broth and stock, and chicken powder. The chicken broth and stock are available in different formats including liquid, powder, cube and granules and is made by boiling meat, bones, and other ingredients, including seasonings and flavors, in water. Chicken broth and stock is always a nutritional option as it is low in calories and fat and provides essential nutrients such as protein, vitamins, and minerals. Broth and stocks are commonly used as a base for various recipes such as soups, stews, sauces, and risottos. With the rising culinary trends and more people exploring cooking at home, the demand for ingredients such as broth and stock is expected to surge. In addition, chicken broth and stock are preferred in various diets, including paleo, and gluten-free, making it appealing to people with specific dietary preferences. Some diets, including bone broth, have gained popularity in recent years, contributing to the demand for broth products.

Based on geography, the chicken extract market is primarily segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America (SAM). North America accounted for the largest share of the market. North America is one of the significant markets for chicken extract due to the rising popularity of convenience foods has contributed to the growth of the chicken extract market. Consumers are seeking easy-to-use, time-saving ingredients to enhance the flavor of their meals. Chicken extracts, available in liquid or powdered forms, offer a convenient solution for enhancing the taste of soups, sauces, gravies, and various other dishes, making them a favored choice for busy households.

Moreover, the COVID-19 pandemic played a significant role in boosting the chicken extract market in North America. With lockdowns and restrictions limiting dining out, more people turned to cooking at home. Chicken extracts, being a versatile ingredient, became a staple in many home kitchens, as they could elevate the taste of homemade meals. This surge in home cooking further fueled the demand for chicken extracts and related products.

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Impact of COVID-19 Pandemic on Chicken Extract Market

Increasing demand for chicken extract as flavor enhancer and surging demand for protein rich food drove the demand for chicken extract before the onset of pandemic. In addition, increasing awareness about healthy food options and introduction of variety of products by key market players further contributed towards the market growth. However, the food and beverages, industry experienced adverse impacts of the pandemic during the first quarter of 2020. Many industries had to slow down their operations due to value chain disruptions caused by the shutdown of national and international boundaries. The pandemic led to social distancing norms and severe negative economic impact, hindering the chicken extract manufacturing and distribution. The COVID-19 pandemic also led to an economic recession in the initial months of 2020, which created financial difficulties for low-income and mid-income consumers.

The report segments the chicken extract market as follows:

The chicken extract market is segmented into product type, category, and distribution channel. Based on product type, the market is segmented into chicken powder, broth and stock, and chicken paste. Based on category, the market is bifurcated into organic and conventional. Based on distribution channel, the chicken extract market is segmented into supermarket and hypermarket, convenience stores, online retail, and others. By geography, the chicken extract market is primarily segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America.

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This release was published on openPR.