Asia Pacific Chicken Extract Market Forecast to 2030
Asia Pacific Chicken Extract Market Forecast to 2030 – Regional Analysis – by Product Type (Chicken Powder, Broth and Stock, and Chicken Paste), Category (Organic and Conventional), and Distribution Channel (Supermarkets and Hypermarkets, Convenience Stores, Online Retail, and Others)
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Description
Strategic Initiatives by Key Market Players Drive Asia Pacific Chicken Extract Market
Chicken extract manufacturers are taking several strategic initiatives such as new product launches, production capacity scaleup, mergers and acquisitions, and collaborations to satisfy growing consumer demand and strengthen their foothold in the market. For instance, in March 2023, Z Natural Foods announced the launch of a new instant bone broth soup base powder. The launch was aimed to cater to the growing demand for protein-rich food products. In addition, the demand for organic products has surged owing to an increase in consumer interest in healthy food products. This has encouraged manufacturers to introduce healthy food products. For instance, in April 2023, Borough Broth Company, in partnership with Planet Organic, announced the launch of four products-Organic Chicken Bone Broth, Organic Chicken and Ginger Bone Broth, Organic Super Greens Soups, and Organic Butternut and Coconut Soup. The launch was aimed to cater to the increasing consumer demand for healthy and sustainable food. Thus, strategic initiatives by key market players boost the Asia Pacific chicken extract market growth.
Asia Pacific Chicken Extract Market Overview
In Asia Pacific, the market for chicken extracts is witnessing significant growth due to the cultural significance of poultry-based dishes across many Asian cuisines. Chicken is a staple protein source in various Asian culinary traditions, and chicken extracts are added to a wide range of Asian dishes to impart rich and authentic flavors.
Moreover, the rising disposable income and urbanization in many Asia Pacific countries have led to changes in consumer lifestyles. Urban dwellers often seek convenience in their cooking without compromising on taste. Chicken extracts offer an easy way to elevate the flavor of dishes, saving time in the kitchen and catering to the fast-paced urban lifestyle.
The increasing trend of snacking in Asia Pacific nations has also contributed to the surge in chicken extract sales. Chicken extracts are versatile ingredients used in snacks, such as soups, broths, etc., which are popular among consumers in the region. This versatility makes them valuable in developing new and exciting snack options, further driving their market growth.
Asia Pacific Chicken Extract Market Revenue and Forecast to 2030 (US$ Million)
Asia Pacific Chicken Extract Market Segmentation
The Asia Pacific chicken extract market is segmented based on product type, category, distribution channel, and country.
Based on product type, the Asia Pacific chicken extract market is segmented into chicken powder, broth and stock, and chicken paste. The broth and stock segment held the largest share in 2022.
In terms of category, the Asia Pacific chicken extract market is bifurcated into organic and conventional. The conventional segment held a larger share in 2022.
By distribution channel, the Asia Pacific chicken extract market is segmented into supermarkets and hypermarkets, convenience stores, online retail, and others. The supermarkets and hypermarkets segment held the largest share in 2022.
Based on country, the Asia Pacific chicken extract market is categorized into Australia, China, India, Japan, South Korea, and the Rest of Asia Pacific. China dominated the Asia Pacific chicken extract market in 2022.
Campbell Soup Co, The Kraft Heinz Co, Ajinomoto Philippines Corp, Lee Kum Kee Co Ltd, Nutra Organics Pty Ltd, Unilever Plc, and Hormel Foods Corp are some of the leading companies operating in the Asia Pacific chicken extract market.
Summary Info
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According to the Research Team’ research, the Asia Pacific chicken extract market was valued at US$ 845.28 million in 2022 and is expected to reach US$ 1,245.30 million by 2030, registering a CAGR of 5.0% from 2022 to 2030. Proliferation of e-commerce industry and consumer inclination toward nutritional food are among the critical factors attributed to the Asia Pacific chicken extract market expansion.
In recent years, the organized retail sector has undergone a massive transformation. The acceptance of e-commerce has increased considerably due to its ability to transform customers’ shopping experience. Further, easy access to emerging technologies, increasing purchasing power of people, rising penetration of the internet and smartphones, and the convenience of shopping from anywhere at any time via online retail platforms are among the key factors propelling the growth of e-commerce. Thus, with the rising penetration of e-commerce platforms in several regions, the sale of various food and beverages, such as chicken extract, is increasing through these platforms.
People prefer online retail platforms to buy these products owing to the availability of various brands at affordable prices, detailed product descriptions, consumer ratings and reviews, and home delivery services. Moreover, chicken extract manufacturers prefer e-commerce platforms to sell their products to large customers as it requires minimal investments. Chicken extract manufacturers are taking initiatives through collaboration and partnership to launch their products on online platforms. The proliferation of e-commerce platforms to provide products online is a lucrative opportunity to expand products for chicken extract manufacturers to increase their consumer base and geographical reach.
On the contrary, stringent regulatory compliance associated with meat processing hampers the growth of Asia Pacific chicken extract market.
Based on product type, the Asia Pacific chicken extract market is segmented into chicken powder, broth and stock, and chicken paste. The broth and stock segment held 79.6% share of the Asia Pacific chicken extract market in 2022, amassing US$ 672.96 million. It is projected to garner US$ 981.46 million by 2030 to expand at 4.8% CAGR during 2022-2030.
In terms of category, the Asia Pacific chicken extract market is bifurcated into organic and conventional. The conventional segment held 77.6% share of the Asia Pacific chicken extract market in 2022, amassing US$ 655.75 million. It is projected to garner US$ 953.30 million by 2030 to expand at 4.8% CAGR during 2022-2030.
By distribution channel, the Asia Pacific chicken extract market is segmented into supermarkets and hypermarkets, convenience stores, online retail, and others. The supermarkets and hypermarkets segment held 44.0% share of Asia Pacific chicken extract market in 2022, amassing US$ 372.04 million. It is projected to garner US$ 543.11 million by 2030 to expand at 4.8% CAGR during 2022-2030.
Based on country, the Asia Pacific chicken extract market is categorized into Australia, China, India, Japan, South Korea, and the Rest of Asia Pacific. China held 32.1% share of Asia Pacific chicken extract market in 2022, amassing US$ 271.67 million. It is projected to garner US$ 384.05 million by 2030 to expand at 4.4% CAGR during 2022-2030.
Key players operating in the Asia Pacific chicken extract market are Campbell Soup Co, The Kraft Heinz Co, Ajinomoto Philippines Corp, Lee Kum Kee Co Ltd, Nutra Organics Pty Ltd, Unilever Plc, and Hormel Foods Corp, among others.
o Highlights key business priorities in order to assist companies to realign their business strategies.
o The key findings and recommendations highlight crucial progressive industry trends in Asia Pacific chicken extract market, thereby allowing players across the value chain to develop effective long-term strategies.
o Develop modify business expansion plans by using substantial growth offering developed and emerging markets.
o Scrutinize in-depth Asia Pacific market trends and outlook coupled with the factors driving the market, as well as those hindering it.
o Enhance the decision-making process by understanding the strategies that underpin security interest with respect to client products, segmentation, pricing, and distribution.
TABLE OF CONTENTS
1.1 the Research Team Research Report Guidance
1.2 Market Segmentation
2. Executive Summary
2.1 Key Market Insights
2.2 Market Attractiveness
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
3.4 Limitations and Assumptions
4. Asia Pacific Chicken Extract Market Landscape
4.1 Overview
4.2 Porter’s Five Forces Analysis
4.2.1 Bargaining Power of Suppliers
4.2.2 Bargaining Power of Buyers
4.2.3 Threat of New Entrants
4.2.4 Competitive Rivalry
4.2.1 Threat of Substitutes
4.3 Ecosystem Analysis
4.3.1 Raw Material Suppliers:
4.3.2 Manufacturers:
4.3.3 Packaging:
4.3.4 Distribution Channel
5. Asia Pacific Chicken Extract Market – Key Industry Dynamics
5.1 Market Drivers
5.1.1 Rising Demand for Chicken Extract as Flavor Enhancer in Home Cooking
5.1.2 Strategic Initiatives by Key Market Players
5.2 Market Restraints
5.2.1 Stringent Regulatory Compliance Associated with Meat Processing
5.3 Market Opportunities
5.3.1 Proliferation of E-Commerce Industry
5.4 Future Trends
5.4.1 Consumer Inclination Toward Nutritional Food
5.5 Impact of Drivers and Restraints:
6. Chicken Extract Market – Asia Pacific Market Analysis
6.1 Asia Pacific Chicken Extract Market Revenue (US$ Million), 2020 – 2030
6.2 Asia Pacific Chicken Extract Market Forecast and Analysis
7. Asia Pacific Chicken Extract Market Analysis – Product Type
7.1 Chicken Paste
7.1.1 Overview
7.1.2 Chicken Paste Market Revenue and Forecast to 2030 (US$ Million)
7.2 Broth and Stock
7.2.1 Overview
7.2.2 Broth and Stock Market Revenue and Forecast to 2030 (US$ Million)
7.3 Chicken Powder
7.3.1 Overview
7.3.2 Chicken Powder Market Revenue and Forecast to 2030 (US$ Million)
8. Asia Pacific Chicken Extract Market Analysis – Category
8.1 Organic
8.1.1 Overview
8.1.2 Organic Market Revenue, and Forecast to 2030 (US$ Million)
8.2 Conventional
8.2.1 Overview
8.2.2 Conventional Market Revenue, and Forecast to 2030 (US$ Million)
9. Asia Pacific Chicken Extract Market Analysis – Distribution Channel
9.1 Supermarkets and Hypermarkets
9.1.1 Overview
9.1.2 Supermarkets and Hypermarkets Market Revenue, and Forecast to 2030 (US$ Million)
9.2 Convenience Stores
9.2.1 Overview
9.2.2 Convenience Stores Market Revenue, and Forecast to 2030 (US$ Million)
9.3 Online Retail
9.3.1 Overview
9.3.2 Online Retail Market Revenue, and Forecast to 2030 (US$ Million)
9.4 Others
9.4.1 Overview
9.4.2 Others Market Revenue, and Forecast to 2030 (US$ Million)
10. Asia Pacific Chicken Extract Market – Country Analysis
10.1 Asia Pacific Chicken Extract Market – Country Analysis
10.1.1 Asia Pacific Chicken Extract Market Breakdown by Country
10.1.1.1 Asia Pacific Chicken Extract Market Breakdown by Country
10.1.1.2 China Chicken Extract Market Revenue and Forecasts To 2030 (US$ Million)
10.1.1.2.1 China Chicken Extract Market Breakdown by Product Type
10.1.1.2.2 China Chicken Extract Market Breakdown by Category
10.1.1.2.3 China Chicken Extract Market Breakdown by Distribution Channel
10.1.1.3 Japan Chicken Extract Market Revenue and Forecasts To 2030 (US$ Million)
10.1.1.3.1 Japan Chicken Extract Market Breakdown by Product Type
10.1.1.3.2 Japan Chicken Extract Market Breakdown by Category
10.1.1.3.3 Japan Chicken Extract Market Breakdown by Distribution Channel
10.1.1.4 India Chicken Extract Market Revenue and Forecasts To 2030 (US$ Million)
10.1.1.4.1 India Chicken Extract Market Breakdown by Product Type
10.1.1.4.2 India Chicken Extract Market Breakdown by Category
10.1.1.4.3 India Chicken Extract Market Breakdown by Distribution Channel
10.1.1.5 Australia Chicken Extract Market Revenue and Forecasts To 2030 (US$ Million)
10.1.1.5.1 Australia Chicken Extract Market Breakdown by Product Type
10.1.1.5.2 Australia Chicken Extract Market Breakdown by Category
10.1.1.5.3 Australia Chicken Extract Market Breakdown by Distribution Channel
10.1.1.6 South Korea Chicken Extract Market Revenue and Forecasts To 2030 (US$ Million)
10.1.1.6.1 South Korea Chicken Extract Market Breakdown by Product Type
10.1.1.6.2 South Korea Chicken Extract Market Breakdown by Category
10.1.1.6.3 South Korea Chicken Extract Market Breakdown by Distribution Channel
10.1.1.7 Rest of Asia Pacific Chicken Extract Market Revenue and Forecasts To 2030 (US$ Million)
10.1.1.7.1 Rest of Asia Pacific Chicken Extract Market Breakdown by Product Type
10.1.1.7.2 Rest of Asia Pacific Chicken Extract Market Breakdown by Category
10.1.1.7.3 Rest of Asia Pacific Chicken Extract Market Breakdown by Distribution Channel
11. Company Profiles
11.1 Campbell Soup Co
11.1.1 Key Facts
11.1.2 Business Description
11.1.3 Products and Services
11.1.4 Financial Overview
11.1.5 SWOT Analysis
11.1.6 Key Developments
11.2 The Kraft Heinz Co
11.2.1 Key Facts
11.2.2 Business Description
11.2.3 Products and Services
11.2.4 Financial Overview
11.2.5 SWOT Analysis
11.2.6 Key Developments
11.3 Ajinomoto Philippines Corp
11.3.1 Key Facts
11.3.2 Business Description
11.3.3 Products and Services
11.3.4 Financial Overview
11.3.5 SWOT Analysis
11.3.6 Key Developments
11.4 Lee Kum Kee Co Ltd
11.4.1 Key Facts
11.4.2 Business Description
11.4.3 Products and Services
11.4.4 Financial Overview
11.4.5 SWOT Analysis
11.4.6 Key Developments
11.5 Nutra Organics Pty Ltd
11.5.1 Key Facts
11.5.2 Business Description
11.5.3 Products and Services
11.5.4 Financial Overview
11.5.5 SWOT Analysis
11.5.6 Key Developments
11.6 Unilever Plc
11.6.1 Key Facts
11.6.2 Business Description
11.6.3 Products and Services
11.6.4 Financial Overview
11.6.5 SWOT Analysis
11.6.6 Key Developments
11.7 Hormel Foods Corp
11.7.1 Key Facts
11.7.2 Business Description
11.7.3 Products and Services
11.7.4 Financial Overview
11.7.5 SWOT Analysis
11.7.6 Key Developments
12. Appendix
LIST OF TABLES
Table 1. Asia Pacific Chicken Extract Market Segmentation
Table 2. Asia Pacific Chicken Extract Market Revenue and Forecasts To 2030 (US$ Million)
Table 3. Asia Pacific Chicken Extract Market Revenue and Forecasts To 2030 (US$ Million) – Product Type
Table 4. Asia Pacific Chicken Extract Market Revenue and Forecasts To 2030 (US$ Million) – Category
Table 5. Asia Pacific Chicken Extract Market Revenue and Forecasts To 2030 (US$ Million) – Distribution Channel
Table 6. China Chicken Extract Market Revenue and Forecasts To 2030 (US$ Million) – Product Type
Table 7. China Chicken Extract Market Revenue and Forecasts To 2030 (US$ Million) – Category
Table 8. China Chicken Extract Market Revenue and Forecasts To 2030 (US$ Million) – Distribution Channel
Table 9. Japan Chicken Extract Market Revenue and Forecasts To 2030 (US$ Million) – Product Type
Table 10. Japan Chicken Extract Market Revenue and Forecasts To 2030 (US$ Million) – Category
Table 11. Japan Chicken Extract Market Revenue and Forecasts To 2030 (US$ Million) – Distribution Channel
Table 12. India Chicken Extract Market Revenue and Forecasts To 2030 (US$ Million) – Product Type
Table 13. India Chicken Extract Market Revenue and Forecasts To 2030 (US$ Million) – Category
Table 14. India Chicken Extract Market Revenue and Forecasts To 2030 (US$ Million) – Distribution Channel
Table 15. Australia Chicken Extract Market Revenue and Forecasts To 2030 (US$ Million) – Product Type
Table 16. Australia Chicken Extract Market Revenue and Forecasts To 2030 (US$ Million) – Category
Table 17. Australia Chicken Extract Market Revenue and Forecasts To 2030 (US$ Million) – Distribution Channel
Table 18. South Korea Chicken Extract Market Revenue and Forecasts To 2030 (US$ Million) – Product Type
Table 19. South Korea Chicken Extract Market Revenue and Forecasts To 2030 (US$ Million) – Category
Table 20. South Korea Chicken Extract Market Revenue and Forecasts To 2030 (US$ Million) – Distribution Channel
Table 21. Rest of Asia Pacific Chicken Extract Market Revenue and Forecasts To 2030 (US$ Million) – Product Type
Table 22. Rest of Asia Pacific Chicken Extract Market Revenue and Forecasts To 2030 (US$ Million) – Category
Table 23. Rest of Asia Pacific Chicken Extract Market Revenue and Forecasts To 2030 (US$ Million) – Distribution Channel
LIST OF FIGURES
Figure 1. Asia Pacific Chicken Extract Market Segmentation, By Country
Figure 2. Porter’s Five Forces Analysis
Figure 3. Ecosystem: Asia Pacific Chicken Extract Market
Figure 4. Asia Pacific Chicken Extract Market – Key Industry Dynamics
Figure 5. Impact Analysis of Drivers and Restraints
Figure 6. Asia Pacific Chicken Extract Market Revenue (US$ Million), 2020 – 2030
Figure 7. Asia Pacific Chicken Extract Market Share (%) – Product Type, 2022 and 2030
Figure 8. Chicken Paste Market Revenue and Forecasts To 2030 (US$ Million)
Figure 9. Broth and Stock Market Revenue and Forecasts To 2030 (US$ Million)
Figure 10. Chicken Powder Market Revenue and Forecasts To 2030 (US$ Million)
Figure 11. Asia Pacific Chicken Extract Market Share (%) -Category, 2022 and 2030
Figure 12. Organic Market Revenue and Forecasts To 2030 (US$ Million)
Figure 13. Conventional Market Revenue and Forecasts To 2030 (US$ Million)
Figure 14. Asia Pacific Chicken Extract Market Share (%) -Distribution Channel, 2022 and 2030
Figure 15. Supermarkets and Hypermarkets Market Revenue and Forecasts To 2030 (US$ Million)
Figure 16. Convenience Stores Market Revenue and Forecasts To 2030 (US$ Million)
Figure 17. Online Retail Market Revenue and Forecasts To 2030 (US$ Million)
Figure 18. Others Market Revenue and Forecasts To 2030 (US$ Million)
Figure 19. Asia Pacific Chicken Extract Market, by Key Countries – Revenue (2022) (US$ Million)
Figure 20. Asia Pacific Chicken Extract Market Breakdown By Key Countries, 2022 And 2030 (%)
Figure 21. China Chicken Extract Market Revenue and Forecasts To 2030 (US$ Million)
Figure 22. Japan Chicken Extract Market Revenue and Forecasts To 2030 (US$ Million)
Figure 23. India Chicken Extract Market Revenue and Forecasts To 2030 (US$ Million)
Figure 24. Australia Chicken Extract Market Revenue and Forecasts To 2030 (US$ Million)
Figure 25. South Korea Chicken Extract Market Revenue and Forecasts To 2030 (US$ Million)
Figure 26. Rest of Asia Pacific Chicken Extract Market Revenue and Forecasts To 2030 (US$ Million)
The List of Companies – Asia Pacific Chicken Extract Market
1. Campbell Soup Co
2. The Kraft Heinz Co
3. Ajinomoto Philippines Corp
4. Lee Kum Kee Co Ltd
5. Nutra Organics Pty Ltd
6. Unilever Plc
7. Hormel Foods Corp
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