Global processed poultry market expected to reach $592.7 bln by 2031
Growth due to increased demand, affordability
24 June 2022
1 minute read
By: According to a report published by Allied Market Research, the global processed poultry meat market generated $252.4 billion in 2020, and is projected to reach $592.7 billion by 2031. If reached, the market would see a CAGR of 7.4% from 2022 to 2031.
Drivers of growth, according to the report, include increased health awareness toward animal protein-rich diets, growing demand for processed and convenience foods, and price affordability of processed poultry meat products. Furthermore, government support and unprecedented growth of the retail sector is expected to generate potential opportunities for the market during the forecast period.
Based on region, North America contributed the highest share in terms of revenue in 2021, holding more than two-fifths of the total market share. It is estimated to continue its dominant share into 2031. The Asia-Pacific region, however, is projected develop the quickest, with an expected CAGR of 9.3% during the forecast period.
The report analyses all segments, including chicken, turkey and duck.
