Global Market Overview of Chicken

August 2022

This briefing examines how the chicken commodity performs globally and in the largest countries in terms of supply and consumption. The report also provides data and analysis on chicken price dynamics, key meat-consuming industries, and exports and imports for countries with the largest markets for meat and meat products consumption.

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Key findings

Poultry to be the major driver behind long-term growth of global meat production and consumption

Over the long term, robust growth in poultry demand will be supported by its affordability, versatility, high nutritional value and better dietary properties. Moreover, in developed markets, consumers are increasingly replacing their red meat intake with poultry due to the environmental impact of cattle farming. According to the OECD-FAO Agricultural Outlook 2022-2031, poultry output is forecast to grow by 16% and account for 47% of total meat protein consumed globally by 2031.

Intensification of production in developing countries in response to rising demand for animal proteins

Strong population growth, rapid urbanisation and an expanding middle-income class in developing countries, particularly in Asia, are expected to provide a substantial boost to animal protein consumption. In response to higher demand for inexpensive meat products, the poultry sector in these markets is expected to witness strong expansion of flocks, intensification of production and the development of vertical integration.

Chicken prices are forecast to peak in 2022, yet will remain elevated

Although the prices of chicken are forecast to peak mid-2022, inflationary pressures are likely to persist over 2022 and beyond. Spiralling operational costs, solid demand and tightening supply are the major drivers of growing poultry prices. Despite strong growth, chicken is set to remain less expensive than red meat alternatives, especially beef and lamb, as well as other types of poultry.

Chicken producers are facing intensifying sustainability pressures

Sustainability of meat production has been of rising importance, especially in high-income countries, with consumers increasingly looking for eco-friendly, humanely-raised, locally-sourced and organic produce. Despite being considered a more environment-friendly protein option, poultry producers are still facing increasing pressures regarding animal welfare, as well as slow-growth, non-GMO, antibiotic- and hormone-free production.

Introduction

Scope
Key findings
Key trends impacting the chicken market in 2022

Global supply of chicken

Asia Pacific to remain a major poultry producer
Chicken prices on the rise fuelled by soaring input costs and solid demand
Quarterly price analysis table
The US and China continue to dominate global production of poultry
China sees the largest growth in poultry output in absolute terms over the past five years
The US: Broiler output to grow, yet producers continue to face headwinds
China: Near-term outlook clouded by COVID-19 restrictions and falling yellow-feather output
Brazil: Chicken output to increase driven by growing foreign demand

Global consumption of meat and meat products

High demand from its vast population makes China the largest market for meat
China: Slower economic growth and COVID-19 restrictions to limit chicken consumption
The US: Chicken consumption to remain robust, due to its nutrition, value and versatility
Russia: Consumption of meat to be dragged down by plunging consumer incomes
Recovering foodservice sector contributes to growth in global chicken demand
Restaurants and bars: Recovering social activities to support the sector’s demand for chicken
Coffee, tea, spices and ready meals: Industry turnover growth to slow down
Hospitals, medical and dental services: Sector expansion to support demand for poultry
Public administration, defence and social security: Sector to witness steady future growth

Country snapshots

Top 10 country profile: USA
Top 10 country profile: China
Top 10 country profile: Brazil
Top 10 country profile: Russia
Top 10 country profile: Indonesia
Top 10 country profile: Mexico
Top 10 country profile: India
Top 10 country profile: Poland
Top 10 country profile: Japan
Top 10 country profile: Argentina

Conclusion

Key challenges and opportunities
Economic forecasts
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