In December 2021, the chicken price peaked at $2.74 per kg, gaining 17% from a month earlier. The average annual price is forecast to rise from $2.26 per kg last year to $2.30 per kg in 2022.
LOS ANGELES, Jan. 19, 2022 (GLOBE NEWSWIRE) -- According to a recently published report from IndexBox, the average annual chicken price grew by 38% y-o-y to $2.26 per kg in 2021. Rising feed costs combined with high logistical expenditures are pushing meat prices up. Global production remains stable compared to the 2020’s level of approx. 120M tonnes.
Although global chicken meat production is projected to rise to 121M tonnes this year, the prices are set to increase, propelled by boosting demand. In 2022, the average annual chicken price is forecast to gain 2% y-o-y to $2.30 per kg. An expected decline in the cattle herd, especially in the EU and the U.S., is set to drive the demand for beef substitutes, including poultry.
Top Leading Chicken Meat Exporters Worldwide
In 2020, chicken meat exported worldwide expanded rapidly to 15M tonnes, surging by 5.6% compared with the year before. In value terms, supplies contracted to $21.9B.
Brazil (3.9M tonnes) and the U.S. (3.5M tonnes) are the leading suppliers in the global chicken market, reaching approx. 25% and 23% of global exports, respectively. The Netherlands (1.4M tonnes) takes a 9.2% share (based on tonnes), which puts it in second place, followed by Poland (8%). The following exporters - Turkey (517K tonnes), Belgium (503K tonnes), Ukraine (429K tonnes), the UK (411K tonnes), Thailand (344K tonnes), Germany (301K tonnes), Russia (280K tonnes) and France (227K tonnes) - together make up 20% of the total volume.
In value terms, Brazil ($5.5B), the U.S. ($3.4B) and the Netherlands ($2.5B) appeared to be the countries with the highest levels of exports in 2020, together comprising 52% of global exports. Poland, Thailand, Belgium, Ukraine, Germany, Turkey, France, Russia and the UK lagged somewhat behind, accounting for a further 30%.
Top Leading Chicken Meat Importers Worldwide
In 2020, China (1.5M tonnes), followed by Mexico (767K tonnes), were the largest importers of chicken meat, creating 17% of global imports. The Netherlands (542K tonnes), Japan (535K tonnes), Germany (515K tonnes), the United Arab Emirates (480K tonnes), Hong Kong SAR (462K tonnes), South Africa (460K tonnes), Iraq (429K tonnes), France (387K tonnes), the UK (377K tonnes), the Philippines (315K tonnes) and Cuba (267K tonnes) occupied a relatively small share of total international purchases.
In value terms, China ($3.4B) constitutes the largest market for imported chicken meat worldwide, comprising 16% of global imports. The UK's second position in the ranking was ($1.2B), with a 5.5% share of total purchases. It was followed by Germany, with a 5.4% share.
About IndexBox
IndexBox is a market research firm developing an AI-driven market intelligence platform that helps business analysts find actionable insights and make data-driven decisions. The platform provides data on consumption, production, trade, and prices for more than 10K+ different products across 200 countries.
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Companies Mentioned in the Report
Tyson Foods, Cargill, Sysco, Pilgrim’s, Hormel, Perdue Farms, OSI Group, Koch Foods, Wayne Farms, Mountaire Farms, Keystone Foods, Peco Foods, House of Raeford Farms, Sanderson Farms, Perdue Foods, LDC, Plukon Food Group, PHW Group, Agricola Italiana Alimentare, 2 Sisters Food Group, SV Industries, Maspack Limited
Sources
World - Chicken Meat - Market Analysis, Forecast, Size, Trends and Insights
World – Meat and Poultry - Market Analysis, Forecast, Size, Trends and Insights
World – Beef (Cattle Meat) - Market Analysis, Forecast, Size, Trends and Insights
World - Frozen Whole Chickens - Market Analysis, Forecast, Size, Trends and Insights
World - Fresh or Chilled Cuts of Chicken - Market Analysis, Forecast, Size, Trends and Insights
