Chicken Flavor Market (Updated Report) Covid-19 Impact: A Study Combine With Challenges and Opportunities

According to a new report published by Allied Market Research titled, “Chicken Flavor Market by Form and End User: Global Opportunity Analysis and Industry Forecast, 2019–2026,” the chicken flavor market size was valued at $629.26 million in 2018, and is projected to reach $1.00 billion by 2026, growing at a CAGR of 5.60% from 2019 to 2026. In 2018, North America accounted for nearly 41.8% share of the chicken flavor market.

The growth in value sales for chicken flavor is attributable to surge in demand for quick service restaurants, and fast food chains, which facilitate better taste. Thus, increase in willingness of customers for different tastes in food industry is expected to fuel the chicken flavor market demand.

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Chicken flavor companies are adopting innovative techniques, which enhance the taste of food. In addition, manufacturers are focusing on aggressive and social marketing of Chicken flavor and their products, which boosts the growth of the market. The adoption of advanced technologies such as solid-liquid extraction (SLE), supercritical carbon dioxide extraction, supercritical fluid extraction, and others for manufacturing food flavors supplement the growth of the market.

The global chicken flavor market is segmented on the basis of form, end user, and region. Based on form, the market is bifurcated into liquid and powder. Depending on end user, it is segmented into B2B and B2C. Among these, the powder segment accounted for a higher chicken flavor market share in 2018, owing to growth in chicken flavor market trends of health consciousness and consumer preferences toward taste. Along with urbanization, increase in disposable income of the global population and easy availability of flavors in powdered form due to retailers’ strong command in supply chain fuel the growth of the chicken flavor market forecast. Fostering consumption of meat products and ready-to-eat foods globally, especially in developing economies is likely to increase the chicken flavor market demand for powder form of flavors.

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North America and Europe are known to be the dominant regions in the chicken flavor market. North America has witnessed higher rate of traction for powder-based chicken flavor, owing to their increased demand from B2B chicken flavor market segment. Some of the key macroeconomic factors such as changing lifestyle, surge in per-capita, and preference of healthy food products also contribute to the overall growth of the market

Key Findings of the Study:
Depending on form, the powder segment garnered 82.6% of chicken flavor market share in 2018, and is expected to grow at a CAGR of 5.40% from 2019 to 2026.
The liquid-based segment is expected to reach $187.74 million by 2026, registering a CAGR of 6.50%.
In 2018, based on end user, the B2B segment accounted for 72.0% share of the market, and is expected to growth at the highest CAGR of 5.30%.
The B2C segment is expected to reach $297.49 million by 2026, registering a CAGR of 6.30%.
Region wise, North America accounted for a prominent market share in 2018, and is anticipated to grow at a CAGR of 5.00% throughout the chicken flavor market analysis period.

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The key players operating in the global chicken flavor industry include Kerry Group plc, Koninklijke DSM N.V., Sensient Technologies Corporation, Cargill, BASF, International Flavors & Fragrances Inc., Symrise, Givaudan, Innova, and Trailtopia Adventure Food.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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