Chicken & Turkey Meat Production in the US - Industry Market Research Report

Power in poultry: The price of poultry meat will inch upward, enabling industry revenue to grow

Positive trends in demand variables and near constant demand from poultry processors along with a recovery in the price of poultry meat in 2021 have led to rising industry revenue over the five years to 2023. Additionally, increased demand for chicken as a substitute for other meats, particularly red meat, helped limit revenue declines amid the COVID-19 pandemic. In addition, increasing health consciousness among US consumers has boosted consumption of white meat in general. A rising price of feed from a low prior to the period has also driven growth. As feed is the largest input cost for meat producers, the price of feed is directly tied to the price of meat, including poultry and substitutes, such as beef and pork. This rise has aided industry revenue growth. Industry revenue has increased at a CAGR of 6.2% to $57.8 billion in 2023.

This industry includes farms that raise chickens and turkeys for meat production. Downstream meat processors and food producers supply farmers with chicks, feed and payment, according to contractual agreements. Farmers provide growing facilities, animal care and agricultural expertise. Revenue is recorded in the final prices that farmers receive per average weight of a live animal. This industry excludes chicken egg production, poultry hatcheries and other poultry production.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry's key players and their market shares.