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Chicken Bucket Market 2024 - By Growth Rate, Share, Analysis, Outlook and Forecast To 2033
Chicken Bucket Market
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According to The Business Research Company's, The chicken bucket market size has grown strongly in recent years. It will grow from $1.94 billion in 2023 to $2.04 billion in 2024 at a compound annual growth rate (CAGR) of 5.0%. The growth in the historic period can be attributed to fast food industry evolution, consumer preference for convenience, marketing and promotional campaigns, menu diversification, economic factors and affordability.
The chicken bucket market size is expected to see strong growth in the next few years. It will grow to $2.49 billion in 2028 at a compound annual growth rate (CAGR) of 5.1%. The growth in the forecast period can be attributed to health and wellness trends,e-commerce and delivery services,sustainable packaging and practices,cultural fusion and culinary diversity,regulatory changes and nutrition labeling. Major trends in the forecast period include rise of plant-based alternatives, focus on healthier preparation methods, expansion of gourmet and artisanal offerings, cultural fusion and ethnic flavors, personalization and customization.
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Market Drivers and Trends:
Growing personal disposable income is expected to propel the growth of the chicken bucket market going forward. Personal disposable income is the sum of an individual's earnings, comprising wages, salaries, bonuses, and investment income, subtracted by taxes and other obligatory deductions, representing the amount available for spending or saving. The growth of personal disposable income positively influences the chicken bucket market by increasing consumer spending capacity and driving demand for convenient and ready-to-eat food options such as chicken buckets. For instance, in August 2023, according to the Bureau of Economic Analysis, a US-based government agency, disposable personal income in the US increased by $7.3 billion (less than 0.1 percent). Therefore, growing personal disposable income is driving the growth of the chicken bucket market.
Product innovations are a key trend gaining popularity in the chicken bucket market. Major companies operating in the chicken bucket are introducing innovative products to strengthen their position in the market. For instance, in November 2021, KFC, a US-based fast-food restaurant company that specializes in fried chicken, launched a limited-edition Finger Lickin' Chicken Mitten Bucket Hugger, which includes fried chicken in a bucket made up of one-of-a-kind knitted sweater that features a festive KFC holiday design. These chicken buckets featured a Winter Chickenland theme to celebrate the holiday season.
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Major Key Players of the Market:
Graphic Packaging International LLC, Huhtamäki Oyj, Dart Container Corporation, DJS Printers, Westgate Products Ltd., Anchor Packaging LLC, Pactiv Evergreen Inc., Hos Win Enterprise Co. Ltd., Hyper Pack Private Limited, Thoran Paper Products, Noor Carton & Packaging Industry, Detmold Group, Plus Paper Foodpac Ltd., Yesve Enterprises, Richoos General Trading LLC, Packaging Industries LLC, YoonPak Company, Paper Machinery Corporation, Southern Champion Tray, International Paper, Georgia-Pacific LLC, Novolex Holdings Inc., Berry Global Inc., Sabert Corporation, Genpak LLC, Sonoco Products Company, Reynolds Consumer Products, CKF Inc., Day Young Enterprises Inc., KFC Corporation
Chicken Bucket Market 2024 Key Insights:
• The chicken bucket market size is expected to see strong growth in the next few years. It will grow to $2.49 billion in 2028 at a compound annual growth rate (CAGR) of 5.1%.
• Chicken Bucket Market Thrives Amidst Growing Chicken Demand In Developing Economies
• Product Innovations Revolutionize Chicken Bucket Market
• North America was the largest region in the chicken bucket market in 2023
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