Chicken Meat Prices Reach the Highest Level Ever and Keep Growing in 2022

IndexBox has just published a new report: 'World - Chicken Meat - Market Analysis, Forecast, Size, Trends and Insights'. Here is a summary of the report's key findings.

In December 2021, the chicken price peaked at $2.74 per kg, gaining 17% from a month earlier. The average annual figure is forecast to rise from $2.26 per kg last year to $2.30 per kg in 2022.

Acording to World Bank's data, the average annual chicken meat price grew by 38% y-o-y to $2.26 per kg in 2021. Rising feed costs combined with high logistical expenditures are pushing the meat prices up, despite global production remaining stable compared to the 2020's level of approx. 120M tons.

Although global chicken meat production is projected to rise to 121M tons this year, the prices are set to increase, propelled by boosting demand. In 2022, the average annual chicken meat price is forecast to gain 2% y-o-y to $2.30 per kg. An expected decline in the cattle herd, especially in the EU and the U.S., is set to drive the demand for beef substitutes, including poultry.

Top Leading Chicken Meat Exporters Worldwide

In 2020, the amount of chicken meat exported worldwide expanded rapidly to 15M tons, surging by 5.6% compared with the year before. In value terms, supplies contracted to $21.9B (IndexBox estimates).

Brazil (3.9M tons) and the U.S. (3.5M tons) represented the leading exporters of chicken meat in 2020, reaching approx. 25% and 23% of global exports, respectively. The Netherlands (1.4M tons) occupied a 9.2% share (based on tons), which put it in second place, followed by Poland (8%). The following exporters - Turkey (517K tons), Belgium (503K tons), Ukraine (429K tons), the UK (411K tons), Thailand (344K tons), Germany (301K tons), Russia (280K tons) and France (227K tons) - together made up 20% of total volume.

In value terms, Brazil ($5.5B), the U.S. ($3.4B) and the Netherlands ($2.5B) appeared to be the countries with the highest levels of exports in 2020, together comprising 52% of global exports. Poland, Thailand, Belgium, Ukraine, Germany, Turkey, France, Russia and the UK lagged somewhat behind, accounting for a further 30%.

Top Leading Chicken Meat Importers Worldwide

In 2020, China (1.5M tons), followed by Mexico (767K tons), were the largest importers of chicken meat, creating 17% of global imports. The Netherlands (542K tons), Japan (535K tons), Germany (515K tons), the United Arab Emirates (480K tons), Hong Kong SAR (462K tons), South Africa (460K tons), Iraq (429K tons), France (387K tons), the UK (377K tons), the Philippines (315K tons) and Cuba (267K tons) occupied a relatively small share of total international purchases.

In value terms, China ($3.4B) constitutes the largest market for imported chicken meat worldwide, comprising 16% of global imports. The UK's second position in the ranking was ($1.2B), with a 5.5% share of total purchases. It was followed by Germany, with a 5.4% share.

Source: IndexBox Market Intelligence Platform