Report Overview
The North America Poultry market is experiencing significant growth, valued at USD 60.92 million in 2023 and projected to reach USD 85.88 million by 2031. This expansion indicates a compound annual growth rate (CAGR) of 4.1% The poultry market is a dynamic and diverse industry characterized by its segmentation across various types, product forms, breeding methods, end-uses, and distribution channels. Chicken remains the most dominant type due to its affordability, versatility, and widespread popularity. Turkey is primarily consumed during holidays but is also growing in the processed products sector. Duck has a niche market, especially in gourmet and cultural cuisines, while goose caters to a specialty market, particularly during festive seasons. Other poultry types, like quail and pheasant, serve specific gourmet and specialty markets, offering unique flavors and culinary experiences. In terms of product types, fresh/chilled poultry is preferred for its perceived freshness and higher quality, often commanding a premium price. Frozen poultry is popular due to its longer shelf life and convenience, especially in regions with less frequent market access.
North America Poultry Market report scope and segmentation.
|
Report Attribute |
Details |
|
Base Year |
2023 |
|
Forecast Years |
2024 – 2031 |
|
Estimated Market Value (2023) |
USD 60.92 Million |
|
Projected Market Value (2031) |
USD 85.88 Million |
|
Segments Covered |
By Type:, By product type, By Breeding Type, By End Use, By distribution Channel & By Region. |
|
Forecast Units |
Value (USD Million or Million) |
|
Quantitative Units |
Revenue in USD million and CAGR from 2024 to 2031. |
|
Regions Covered |
North America, |
|
Countries Covered |
U.S., Canada, Mexico, |
North America Poultry Market dynamics
The North America poultry market represents a significant segment of the agricultural economy, driven by high demand for poultry products such as chicken, turkey, and eggs. As one of the most consumed protein sources, poultry plays a crucial role in the dietary preferences of millions of people across the United States, Canada, and Mexico. The market's growth is propelled by several factors, including increasing consumer preference for healthier and more affordable protein options, advancements in poultry farming technologies, and extensive marketing strategies by major producers. In recent years, the poultry industry in North America has witnessed remarkable advancements in farming practices and technology. Innovations such as automated feeding systems, climate-controlled housing, and genetic improvements have significantly boosted production efficiency and output. These advancements not only ensure a steady supply of poultry products but also enhance their quality and safety, addressing concerns over animal welfare and foodborne illnesses. Furthermore, the adoption of sustainable practices, such as reducing greenhouse gas emissions and implementing waste recycling measures, reflects the industry's commitment to environmental stewardship. The market is characterized by a well-established supply chain that encompasses production, processing, distribution, and retail.
North America Poultry Market drivers
Increasing global need for protein-rich, easy-to-prepare food options
The North American poultry market is currently experiencing a surge in demand driven by a variety of factors, with one of the most prominent being the increasing global need for protein-rich, easy-to-prepare food options. This trend has propelled the poultry industry to new heights, as consumers seek out convenient and nutritious sources of protein to support their busy lifestyles. One key factor driving this demand is the growing awareness of the health benefits associated with poultry consumption. Poultry, including chicken and turkey, is a lean source of protein that is low in fat and cholesterol, making it an attractive option for health-conscious consumers. Additionally, poultry is rich in essential nutrients such as vitamins B6 and B12, as well as minerals like zinc and iron, further enhancing its nutritional value. Moreover, the convenience factor cannot be overlooked. In today's fast-paced world, consumers are increasingly turning to quick and easy meal options that require minimal preparation time. Poultry fits the bill perfectly, with a wide range of pre-packaged and ready-to-eat products available on the market. From rotisserie chicken to pre-cooked chicken strips, consumers have access to a variety of convenient poultry options that can be easily incorporated into their busy schedules
Impact of COVID-19 Pandemic
The COVID-19 pandemic has had a profound impact on the North American poultry market, influencing various facets of the industry from production to consumption. Initially, the pandemic caused significant disruptions in the supply chain, as restrictions and lockdown measures led to labor shortages in processing plants. Many facilities faced temporary closures due to outbreaks among workers, causing a bottleneck in the processing stage. This situation resulted in reduced output and a surplus of live poultry on farms, posing logistical challenges and financial strain on producers. Consumer behavior also shifted dramatically during the pandemic. With restaurants and foodservice outlets closing or operating at limited capacity, demand for poultry products in these sectors plummeted. Conversely, there was a notable increase in retail demand as consumers stockpiled groceries and cooked more at home. This surge in retail sales led to a temporary spike in prices for poultry products. However, the increased cost of maintaining safety protocols and the inefficiencies caused by labor shortages kept the profit margins thin for many producers and retailers
Restraints:
Variations in prices of animal feed affect operational expenses
In the light of the erratic costs of animal feed in the North American chicken industry, moderation is essential. These differences have a significant impact on operating costs, which poses possibilities as well as problems for chicken farmers. A comprehensive analysis of the intricate relationships among industrial practices, market pressures, and the wider economic milieu is necessary to comprehend this ever-changing terrain. The key input used in the chicken industry is feed, which is its fundamental component. Feed costs typically constitute a significant portion of operational expenses, directly impacting profit margins. When prices surge due to factors like fluctuations in grain markets, adverse weather conditions, or geopolitical tensions, producers face intensified cost pressures. In such scenarios, maintaining profitability necessitates strategic adjustments in production processes, pricing strategies, or input sourcing.
Evolving laws and policies impact farming practices and compliance
A complicated dynamic entwining legal, economic, and ethical issues is handled in the context of changing regulations and policies affecting agricultural methods and compliance in the North American poultry market. Poultry farmers must modify their operations to be compliant with evolving regulatory frameworks that address issues like animal welfare, environmental sustainability, and food safety. This requires them to maintain profitability and satisfy customer needs. One significant aspect of restraint lies in the need for farmers to balance compliance with profitability. As regulations become stricter, such as requirements for larger cage sizes or bans on certain antibiotics, farmers must invest in infrastructure upgrades and alternative practices. These investments can strain budgets, particularly for smaller operations, potentially leading to higher production costs and lower profit margins. As a result, farmers may be restrained in their ability to innovate or expand their operations, limiting growth and competitiveness in the market. Opportunities:
Increasing sales overseas by entering new international markets strategically
Entering new international markets strategically can be a pivotal move for any business looking to expand its reach and increase sales, and the North America Poultry Market presents a promising opportunity for growth. For Opportunity, this move signifies more than just tapping into a new market; it's about leveraging its strengths to maximize its potential and establish a strong foothold in the industry. Opportunity's approach begins with thorough market research and analysis. Understanding the dynamics of the North America Poultry Market, including consumer preferences, competitive landscape, and regulatory framework, is crucial. By gaining insights into market trends and customer behavior, Opportunity can tailor its products and marketing strategies to meet the specific needs and preferences of consumers in this region. Moreover, Opportunity recognizes the importance of establishing strategic partnerships and alliances.
Segment Overview
By Type
The North American poultry market, comprising primarily the United States, Canada, and Mexico, represents a significant segment of the global poultry industry. This market has shown robust growth driven by a combination of factors including consumer preferences, economic conditions, and technological advancements in poultry farming. The United States stands as the dominant player in the North American poultry market. It is one of the largest producers and exporters of poultry meat globally. The U.S. poultry industry benefits from advanced farming techniques, stringent quality control measures, and a strong domestic market demand. Consumers in the U.S. increasingly prefer poultry over other meats due to its affordability, versatility, and perceived health benefits. Innovations in breeding, feed, and disease management have significantly improved production efficiency and output. Additionally, the presence of major industry players like Tyson Foods and Pilgrim’s Pride has facilitated substantial market growth and consolidation.
By BREEDING TYPE
The North American poultry market is characterized by diverse breeding practices, each catering to distinct consumer preferences and market demands. Understanding the nuances of these breeding types—Conventional, Organic, Free-Range, and Others—is essential for stakeholders aiming to capitalize on current trends and future opportunities. Conventional Breeding dominates the market due to its efficiency and cost-effectiveness. This method employs standardized practices focusing on high yield and rapid production cycles. Despite its prevalence, conventional breeding faces increasing scrutiny regarding animal welfare and environmental impact. As consumers become more health-conscious and ethically aware, the market share of conventional poultry may face challenges unless producers adapt to emerging consumer demands.
North America Poultry Market Overview by Region
The North American poultry market, comprising primarily the United States, Canada, and Mexico, represents a significant segment of the global poultry industry. This market has shown robust growth driven by a combination of factors including consumer preferences, economic conditions, and technological advancements in poultry farming. The United States stands as the dominant player in the North American poultry market. It is one of the largest producers and exporters of poultry meat globally. The U.S. poultry industry benefits from advanced farming techniques, stringent quality control measures, and a strong domestic market demand. Consumers in the U.S. increasingly prefer poultry over other meats due to its affordability, versatility, and perceived health benefits. Innovations in breeding, feed, and disease management have significantly improved production efficiency and output. Additionally, the presence of major industry players like Tyson Foods and Pilgrim’s Pride has facilitated substantial market growth and consolidation.
North America Poultry market competitive landscape
The Poultry market is characterized by the presence of many North America, regional, and local providers. The market is highly competitive, with all the players competing to gain maximum market share. Intense competition, frequent changes in government policies, and regulations are key factors that impact market growth. The manufacturers compete based on cost, product quality, reliability. The manufacturers must provide cost-efficient and high-quality Poultry to sustain their presence in an intensely competitive market environment.
North America Poultry Market Recent Developments
- January 2024, Mexico’s leading poultry provider, Bachoco, has partnered with Optilogic to enhance its logistical efficiencies. This collaboration aims to streamline Bachoco's supply chain operations, ensuring more effective and cost-efficient distribution of its products.
- In July 2023, Bachoco concluded an acquisition agreement to purchase Norson in Mexico. This acquisition aimed to enhance Bachoco's market presence and diversify its product offerings in the Mexican market.
- In June 2022, Bachoco has launched its new Meat Out line, expanding its product offerings to include plant-based meat alternatives. This initiative aims to cater to the growing consumer demand for vegetarian and vegan options, aligning with current trends towards sustainable and healthy eating.
Scope of North America Poultry market report
North America Poultry report market segmentation
|
ATTRIBUTE |
DETAILS |
|
By Type |
|
|
By Product Type |
|
|
By Breeding Type |
|
|
By Distribution Channel |
|
|
By End User |
|
|
Customization Scope |
|
|
Pricing |
|