Portland, OR, Nov. 01, 2021 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global chicken based ingredients market generated $1.36 billion in 2020, and is expected to reach $2.98 billion by 2030, witnessing a CAGR of 8.4% from 2021 to 2030. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chain, regional landscape, and competitive scenario.
Preference for nutritious food, increase in demand for health and fitness related food & beverages, and surging demand from downstream industries such as biodiesel, food and beverage, pharmaceutical, and animal feed drive the growth of the global chicken based ingredients market. However, large capital investments and concerns regarding health effects of excessive chicken fat and oil consumption restrain the market growth. On the other hand, expansion of the sales and distribution network present new opportunities in the next few years.
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Covid-19 Scenario:
- Owing to lockdown restrictions, the supply chain has been disrupted during the Covid-19 pandemic. This led to shortage of raw materials in the application industries such as food & beverage, biodiesel, and food supplements.
- Distribution channels such as hypermarkets & supermarkets, convenience stores, and specialty stores were closed during the lockdown. This led to reduced sales volumes and impacted the overall revenue of the industry. As stores open post-lockdown, the market is expected to recover steadily.
The report offers detailed segmentation of the global chicken based ingredients market based on type, application, distribution channel, and region.
Based on type, the fat segment contributed to the largest share in 2020, holding around one-third of the total share, and is estimated to continue its lead position during the forecast period. Moreover, this segment is projected to manifest the highest CAGR of 9.6% from 2021 to 2030. The report also analyzes the segments including protein, broth, and oil.
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Based on distribution channel, the specialty stores segment held the largest share in 2020, accounting for more than one-third of the total share of the global chicken based ingredients market, and is expected to maintain its leadership status during the forecast period. Moreover, this segment is projected to witness the largest CAGR of 9.6% from 2021 to 2030. The report also analyzes the segments including hypermarkets and supermarkets, convenience stores, and online sales channels.
Based on region, North America accounted for the largest share in 2020, holding more than one-third of the total share of the market, and is estimated to maintain its dominance in terms of revenue during the forecast period. Moreover, this segment is expected to witness the fastest CAGR of 9.3% from 2021 to 2030. The research also analyzes regions including Asia-Pacific, Europe, and LAMEA.
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Leading players of the global chicken based ingredients market analyzed in the research include Bare Bones, Brodo, Borough Broth, International Dehydrated Foods Inc., Broth of Life, Epic Provisions, Lonolife, Kettle and Fire Inc., Pacific Foods of Oregon LLC, Manischewitz, Proliver, Sanimax, Piermen B.V., Stara Foods and Symrise AG.
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