Top companies covered are Tyson Foods Inc., Cargill Meat Solutions Corp., OSI Group LLC., Hormel Foods Corp., Perdue Farm Inc., Koch Foods LLC., Sanderson Farm Inc., Keystone Foods Inc., JBS USA Holdings Inc., and more players profiled in poultry products market research report

/EIN News/ -- Pune, India, March 26, 2021 (GLOBE NEWSWIRE) -- The global poultry products market size is expected to expand on account of the augmented popularity of savory snacks among consumers all over the world, observes Fortune Business Insights™ in its report titled “Poultry products market, 2021-2028”.

Due to the inconvenience of cooking, people prefer pre-packed ready-to-cook food items such as sausages, jerky, bacon, nuggets, and other poultry products. According to The National Chicken Council (NCC), chicken is the first choice of meat for many in-home cooks due to its versatility. Furthermore, as a result of the low production cost of chicken and the huge demand for it, companies are investing more in this particular poultry product over others in the market.

Market Segments

Based on the source, the market is divided into chicken, duck, turkeys, and geese. By type, the market segments include sausages, nuggets, sticks, jerky, and others. The sausage variant is predicted to gain a notable share in the poultry products market followed by chicken nuggets and chicken strips, which are considered to be finger foods.

On the basis of distribution channels, the market divisions include supermarkets, hypermarkets, departmental stores, online retail stores, and others. In terms of region the market has been segregated into North America, Europe, Asia Pacific, South America, and the Middle East & Africa.

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List of the Leading Companies Profiled in the Global Poultry Products Market are:

• Tyson Foods Inc.
• Cargill Meat Solutions Corp.
• OSI Group LLC.
• Hormel Foods Corp.
• Perdue Farm Inc.
• Koch Foods LLC.
• Sanderson Farm Inc.
• Keystone Foods Inc.
• JBS USA Holdings Inc.

What Does the Report Offer?

The report provides a holistic evaluation of all market segments and an in-depth analysis of the market drivers, trends, restraints, and opportunities. Further, the report contains tangible insights into the regional dynamics shaping the market, as well as highlights and examines the key market players’ profiles and strategies.

Market Driver and Restraint

Veganism to Impact the Booming Market of Poultry Meat

Although the National Chicken Council stated that the consumption of chicken has been popular during COVID-19 because it's easy to prepare and great for meal prepping, veganism poses a threat to the poultry products market growth. Chicken is packed with high proteins and certain other constituents essential for the recovery of Covid-19 affected people or for preventing Covid-19. As people have made healthy choices for their lifestyle amidst the pandemic, more vegan and vegetarian products are anticipated to be introduced in the market, jeopardizing the growth of the meat market. For example, people are looking forward to buying protein-rich vegetarian products, such as nuts, baked beans, peanut butter, and others, as substitutes to the protein gained from poultry-based snacks.

According to a Harvard study conducted in 2019, it was revealed that the consumption of vegan diets can reduce the risk of Type 2 diabetes by 23%. Studies about the adoption of veganism show that vegan diets are likely to reduce risk of prostate cancer by around 35%. Studies like these have compelled people to rethink their diet intake.

The factor that is hampering the market is antibiotic resistance and related problems. Fortification of animals' diets with antibiotics to promote growth and prevent them from catching the virus has increased the public's concern about the safety of animal products and their adverse effects on human health and natural immunity. 

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Regional Insights

High Consumption of Poultry Meat to Boost the Market

As North America is the highest consumer of poultry products among other regions, it is anticipated that it will hold a remarkable poultry products market share.  Due to the high consumption of meat in this region, it is predicted that sales will go up in the near future, benefiting the overall market. 

Not only is North America the largest consumer but also the world's largest poultry meat producer, with around 18% of the global output followed by Brazil, China, and the Russian Federation.

Asia Pacific is expected to witness growth in the poultry industry as many sub-regions of Asia Pacific depend on poultry as their main diet. The developing nations here are seen collaborating with companies to transform their abundantly available raw meat material into popular snacks.

Competitive Landscape

Introduction of Novel Poultry Products by Key Players to Intensify Market Competition

Key players are adopting different strategies to entrench their position in the market. One such prominent strategy is the launch of new products, using which companies are aiming to gain wider visibility among consumers. For instance, Tyson Foods, Inc. has announced that the company is making organizational changes designed to improve operational quickness, overall customer experience, and number of technological innovations to strengthen their position in the market.

Key Industry Development

October 2019: Jack links and Lorissa’s kitchen launched whole-made medley bars. The bars offer the combination of dried fruits, seeds, nuts, egg whites and grass fed chicken.

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