Press release
Chicken Extract Market Growth Overview, Size, Future Trends, Share, Opportunities and Forecast to 2030
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.Chicken extracts are products which are used to add savory essence of chicken or chicken flavor to various recipes. The key ingredients of these products are chicken meat, bone, skin, and chicken fat either in fresh or dried form. Market size indicates retail sales of chicken powder, chicken-based broth and stocks, and chicken paste. Chicken extract serves as a versatile culinary ingredient and is primarily used to add savory and umami flavors to various dishes including soups, sauces, gravies, and others. Chicken extracts ate available in various types including powder, broth & stock, and paste. Increasing demand for flavor enhancer in home cooking coupled with rising trend of international flavor has contributed towards the growth of market.
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Analysis of the Top Market Players:
1. Campbell Soup Co.
2. The Kraft Heinz Co.
3. Ajinomoto Philippines Corp.
4. Lee Kum Kee Co Ltd.
5. Nutra Organics Pty Ltd.
6. Huegli Cenovis GmbH
7. Princes Ltd.
8. Unilever Plc
9. Hormel Foods LLC
10. Kettle & Fire Inc.
In this report, the market has been segmented on the basis of:
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)
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Chicken extract manufacturers are taking several strategic initiatives such as new product launches, production capacity scaleup, mergers and acquisitions, and collaborations to satisfy growing consumer demand and strengthen their foothold in the market. For instance, in March 2023, Z Natural Foods announced the launch of a new instant bone broth soup base powder. The launch was aimed to cater to the growing demand for protein-rich food products. In addition, the demand for organic products has surged owing to an increase in consumer interest in healthy food products. This has encouraged manufacturers to introduce healthy food products. For instance, in April 2023, Borough Broth Company, in partnership with Planet Organic, announced the launch of four products-Organic Chicken Bone Broth, Organic Chicken and Ginger Bone Broth, Organic Super Greens Soups, and Organic Butternut and Coconut Soup. The launch was aimed to cater to the increasing consumer demand for healthy and sustainable food.
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