ID: MRFR/F-B & N/6865-CR | September 2019 | Region: Global | 111 pages
Global Take-Out Fried Chicken Market is poised to record a CAGR of 5.47% to hit USD 8.25 Billion by 2025. The number of fast-food customers has grown over the last two decades due to busy lifestyles and growing demand for convenience food items, including fried chicken.
In the aftermath of the global pandemic crisis and the unending lockdown across countries, the consumer food & beverage industry first experienced strong demand for household staples, nutritious food goods, and long shelf-life consumables. Pressure for deliverable and take-out grocery goods has seen a major spike in the early stages of the crisis. Currently, most firms in the industry are faced with low demand usage and supply chain problems. In an effort to respond to the new market climate, businesses are relying more on modifying their supply chains in order to improve their web footprint and distribution initiatives. Changes in customer shopping behaviour and complex changes to online and D2C sales networks can have serious consequences for the immediate future development of the industry.
Growing Expansion of the Fast Food Industry to Drive Market Growth
During the forecast period, the global take-out fried chicken market is projected to expand at a significant rate. The development of the market can be attributed to the success of the fast food industry and the proliferation of global fast-food chains. The number of fast food customers has grown over the last two decades due to busy lifestyles and growing demand for convenience food items, including fried chicken. The growth of global fast food franchises in new geographic regions by opening a range of outlets is improving the selling of fried chicken. Ease and comfort of food distribution by online food applications is expected to lead to the growth of the global demand for fried chicken in the coming years.
Growing Exploration of Untapped Markets to Create Growth Avenues
The growing number of workers at work and the increasing prevalence of fast foods are expected to push the market for fried chicken and other food goods for take-out. Well-established in-store bakeries, coffee shops, cafes, and fast-service restaurants are on offer in the take-out fried chicken market. The opportunity associated with take out fried chicken is rapidly grasped by these outlets: greater comfort, affordability, and a wide variety of product variability. The rise of the take-out fried chicken market also paves the way for massive growth of the take-out fried chicken industry and vice versa. The launch of a diverse variety of new take-out food options has also contributed to this. Expansion in untapped markets, however, is likely to provide suppliers with attractive growth prospects.
Growing Awareness of Health Risks Impedes market growth
Nevertheless, the ambiguity about the health risks associated with the consumption of fast food items, including fried chicken, is hampering consumer development. In addition, detrimental ads caused by the rising number of lawsuits is a significant problem facing industry leaders.
Based on Product Type, Age Group, Channel of Distribution, and Location, the Global Take-Out Fried Chicken Market has been segmented.
By Product Type
By product type, the market has been divided into wings, breast, drumsticks, thighs, nuggets, and others. Due to strong chicken breast demand in North America and Europe, the breast segment accounted for the largest market share in 2018. However, due to the increase in popularity of chicken nuggets, especially in developing countries, the launch of tastes and flavours, low cost, and ease of preparation, the nuggets segment is projected to exhibit the highest CAGR during the forecast period.
By Age Group
Based on age group, the global take-out fried chicken market has been segmented into above 20, 20–40, above 40. Because of the high tendency towards fast food, the 20-40 group accounted for the biggest market share in 2018. However, portions of the under 20 age group are expected to grow at the fastest CAGR during the forecast period. The growth of this segment can be due to the high demand from customers below the age of 20 for new and exotic flavours of fried chicken.
By Distributional Channel
The industry has been defined as takeaway and online & offline delivery in terms of distribution channels. In 2018, the takeaway segment accounted for a bigger share of the market. However, due to the comfort provided by online and offline distribution of fried chicken, customers are opting for food delivery. The online & offline distribution segment is therefore expected to report a higher CAGR during the forecast period.
The geographical overview of the global market has been conducted in four major regions, including the Asia Pacific, North America, Europe, and the rest of the world.
U.S. accounted to Lead the North America Market
During the prediction timeframe, North America is predicted to make up the largest share of the overall demand for take-out fried chicken. In 2018, the region accounted for a 31.11% share of the global economy. The US is a significant contributor to the expansion of the market for take-out fried chicken in North America. The presence in North America of many global and local fast food restaurant chains and the growing demand for fast food are driving the region's consumer growth.
APAC market to Register the Highest CAGR
The Asia-Pacific sector, however, is expected to exhibit the highest CAGR during the forecast era. The expansion of various fast food restaurant chains can be attributed to the rise of the regional economy. The growth of the take-out fried chicken industry in these regions is motivated by increased customer demand of fast foods such as fried chicken and the expansion of the food delivery sector.
Growing Expansion of End-Use Sectors to Drive Europe Market Growth
In 2018, Europe accounted for a large share of the market. Due to the adoption of a healthier lifestyle by the citizens of the region, the demand in the region is expected to see slow expansion.
Key Players Plan on Expanding their Regional Footprints
Through targeting untapped markets, the companies competing in the global take-out fried chicken industry are focused on expanding their global footprints.
December 2020: Chick-fil-A, Inc. announced plans to expand its restaurant concept into Puerto Rico in late 2021 or early 2022. The company intended to open 2 restaurants over the next two years and 10 to 15 restaurants over the next five years.
December 2020: KFC, the famous fast-food brand unveiled details for its upcoming gaming console which featured a custom-built cooling system that utilised heat produced by the console's components to heat up the chicken chamber.
By Product Type
By Age Group
By Distribution Channel
Frequently Asked Questions (FAQ) :
Take-out fried chicken market is projected to grow at a 5.47% CAGR between 2021- 2025.
North America is expected to dominate the take-out fried chicken market.
Take-out fried chicken market is predicted to touch USD 8,252.9 million by 2025.
Growing fast food industry and demand for convenience food products are the key factors driving the take-out fried chicken market.
Key players profiled in the take-out fried chicken market include Cajun Operating Company (Church's Chicken) (US), Bojangles’ International, LLC (US), Wendy’s International, LLC (US), Kyochon F&B Co., Ltd (South Korea), Restaurant Brands International Inc. (Canada), Chick-fil-A, Inc. (US), Call A Chicken (Canada), Gus's World Famous Fried Chicken (US), Zaxby’s Franchising LLC (US), Wingstop Restaurants, Inc. (US), Raising Cane’s USA, LLC. (US), GENESIS BBQ (South Korea), McDonald's Corporation (US), and Yum! Brands Inc. (KFC) (US).