Take Out Fried Chicken Market Size

Take Out Fried Chicken Market Growth Projections and Opportunities

Anticipated to experience significant growth in the foreseeable future, the global take-out fried chicken market is propelled by the overarching expansion of the fast food industry and the ascent of multinational fast food restaurant chains. However, this trajectory is not devoid of challenges, with concerns about the health implications associated with fast food consumption, particularly fried chicken, acting as a substantial impediment to market growth. The surge in negative publicity, fueled by a rising number of lawsuits, poses a major challenge for market players. Despite these hurdles, the market holds promise, with untapped markets emerging as key areas for potential expansion, offering lucrative growth prospects for vendors.

The takeaway segment, constituting a substantial market share of 50.83%, reflected a market value of USD 2,892.3 million in 2018, and it is anticipated to sustain a Compound Annual Growth Rate (CAGR) of 5.16% during the forecast period. In contrast, the online and offline delivery segment, valued at USD 2,797.8 million in 2018, is poised to exhibit a higher CAGR of 5.79%.

The growth trajectory of the global take-out fried chicken market is intricately linked to the broader expansion of the fast food industry. As multinational fast food restaurant chains continue to establish a global presence, the market for take-out fried chicken experiences a commensurate surge. However, amidst this growth, the industry grapples with a pervasive issue—ambiguity surrounding the health implications of consuming fast food, particularly the popular choice of fried chicken. This lingering uncertainty poses a significant hurdle to the unabated expansion of the market, as health-conscious consumers increasingly scrutinize their dietary choices.

Compounding the challenges is the mounting negative publicity stemming from an escalating number of lawsuits targeting the fast food industry. Allegations related to health issues, nutritional concerns, and marketing practices have generated adverse publicity, impacting consumer perception and trust. Market players find themselves navigating the delicate balance between meeting consumer demands for convenient and flavorful options and addressing the growing chorus of health-related apprehensions.

Despite these impediments, the market holds promise, primarily fueled by the prospect of exploring untapped markets. Emerging economies and regions with evolving consumer preferences present an opportune terrain for market players to establish their foothold and tap into previously unexplored potential. The allure of global expansion, combined with strategic efforts to tailor offerings to diverse consumer preferences, positions the market for sustained growth.

Analyzing market segments provides valuable insights into consumption patterns. The takeaway segment, commanding over half of the market share, stands as a dominant force, showcasing a market value of USD 2,892.3 million in 2018. This segment is poised to maintain a steady growth trajectory with a projected CAGR of 5.16% during the forecast period. On the other hand, the online and offline delivery segment, valued at USD 2,797.8 million in 2018, is set to exhibit a higher CAGR of 5.79%. The emphasis on convenient and efficient delivery channels aligns with changing consumer behaviors, contributing to the anticipated growth of this segment.

In conclusion, while challenges persist, the global take-out fried chicken market is resilient, driven by the overarching growth of the fast food industry. Addressing health concerns and navigating the intricacies of negative publicity will be pivotal for market players. The focus on untapped markets, coupled with strategic adaptations to changing consumer preferences, positions the market for sustained and robust growth in the coming years.