Chicken Extract Market Size, Latest Trends, Industry Challenges, and Future Aspect Analysis by 2030

The scope of our recent study, titled "Chicken Extract Market Size and Forecasts (2020 - 2030), Global and Regional Share, Trends, and Growth Opportunity Analysis Report Coverage: By Product Type (Chicken Powder, Broth and Stock, and Chicken Paste), Category (Organic and Conventional), Distribution Channel (Supermarkets and Hypermarkets, Convenience Stores, Online Retail, and Others)," includes the description of factors fueling the chicken extract market growth, estimation and forecast of revenue, and identification of significant market players and their key developments, along with market share analysis.

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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.

Rising Demand for Chicken Extract as a Flavor Enhancer in Home Cooking Propels Global Chicken Extract Market Growth

Chicken extracts are commonly used in soups, sauces, and various culinary applications to enhance the overall flavor of dishes. Chicken extracts are rich in umami, enhancing the dishes' overall flavor. The rising demand for chicken extract as a flavor enhancer can be attributed to the ability to add savory and umami flavors to a wide range of dishes. In addition, the growing interest of consumers in exploring global cuisines drives market growth. The popularity of cuisines from Latin America, Korea, India, and Africa has surged in recent years.

Consumers use chicken extract to recreate traditional recipes and reduce cooking time while keeping the flavors intact. The chicken extract is used to prepare sauces and gravies as it enhances their flavor. In addition, it is used as seasoning in dry rubs or spice blends for various meats, adding a savory note to grilled or roasted dishes. Thus, the rising demand for chicken extract as a flavor enhancer drives the chicken extract market.

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.

The report segments the global 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.

Global Chicken Extract Market: Competitive Landscape and Key Developments

Campbell Soup Co, The Kraft Heinz Co, Ajinomoto Philippines Corp, Lee Kum Kee Co Ltd, Nutra Organics Pty Ltd, Huegli Cenovis GmbH, Princes Ltd, Unilever Plc, Hormel Foods LLC, and Kettle & Fire Inc are a few leading players operating in the chicken extract market. These players are constantly focusing on developing innovative products to fulfill the changing requirements of consumers.

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