Take-Out Fried Chicken Market Analysis
Global Take-Out Fried Chicken Market is estimated to be valued at USD 8,252.9 Million by 2025, expanding at a CAGR of 5.47% during the Forecast Period. Take-out fried chicken refers to fried chicken ordered from a restaurant and consumed off-premises. Based on product type, the market has been segregated into fried chicken are wings, breast, drumsticks, thighs, nuggets, and others. Take-out fried chicken includes takeaway and online and offline food delivery offered by the restaurant chains.
The global take-out fried chicken market is expected to register a high growth rate during the forecast period. The expansion of the fast food industry and the rise of multinational fast food restaurant chains are major factors driving the market growth. Expansion into untapped markets is expected to create new opportunities for vendors active in the global market. However, rising health concerns among the global populace are restricting the growth of the market. Suppliers of take-out fried chicken are witnessing challenges such as frequent lawsuits being filed against them.
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Take-Out Fried Chicken Market Key Players
Market Research Future recognizes Yum! Brands Inc. (KFC) (US), McDonald’s Corporation (US), GENESIS BBQ (South Korea), Raising Cane’s USA, LLC. (US), Wingstop Restaurants, Inc.(US), Zaxby’s Franchising LLC (US), Gus’s World Famous Fried Chicken (US), Call A Chicken (Canada), Chick-fil-A, Inc. (US), Restaurant Brands International Inc. (Canada), Kyochon F&B Co., Ltd (South Korea), Wendy’s International, LLC (US), Bojangles’ International, LLC (US), and Cajun Operating Company (Church’s Chicken) (US) as the Key Players in the global take-out fried chicken market.
Take-Out Fried Chicken Market Key Findings of the Study
The Global Take-Out Fried Chicken Market is expected to register a growth rate of 47% from 2019 to 2025.
The breast segment is estimated to maintain its prominent share, registering a growth rate of 26% during the forecast period.
Based on distribution channel, the takeaway segment is expected to hold a larger market share during the forecast period and register a growth rate of 5.16%.
Take-Out Fried Chicken Market Segmental Analysis
Global Take-Out Fried Chicken Market has been segmented on the basis of product type, age group, distribution channel, and region.
By product type, the market has been divided into wings, breast, drumsticks, thighs, nuggets, and others. The breast segment accounted for the largest market share in 2018 due to high demand for chicken breast in North America and Europe. However, the nuggets segment is projected to exhibit the highest CAGR during the forecast period due to the rise in popularity of chicken nuggets, especially in the developing countries, the introduction of tastes and flavors, low cost, and ease of preparation.
Based on age group, the global take-out fried chicken market has been segmented into above 20, 20–40, above 40. The 20–40 segment accounted for the largest market share in 2018 owing to the high inclination toward fast food. However, the below 20 age group segments is projected to expand at the highest CAGR during the forecast period. The growth of this segment can be attributed to the high demand for innovative and exotic flavors of fried chicken by consumers below the age of 20 years.
In terms of distribution channel, the market has been classified as takeaway and online & offline delivery. The takeaway segment accounted for a larger share of the market in 2018. The segmental revenue share varies from region to region. Preference for takeaway in regions such as North America, Europe, South America, and a few countries of Asia-Pacific is driving the growth of the takeaway segment. However, consumers are opting for food delivery owing to the convenience offered by online and offline delivery of fried chicken. Thus, the online & offline delivery segment is projected to register a higher CAGR during the forecast period.
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Take-Out Fried Chicken Market Regional Analysis
Geographically, the global take-out fried chicken market has been segregated into North America, Europe, Asia-Pacific, the Middle East, and the rest of the world. As per MRFR analysis, North America accounted for a dominant share of the global market in 2018. Moreover, the market in Asia-Pacific is expected to register the highest CAGR of 6.13% during the assessment period. The market in the Middle East is projected to expand at a substantial growth rate during the forecast period, in which the GCC countries account for a majority market share in the region.
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