Introduction

The poultry industry is constantly evolving, with companies looking for innovative ways to meet the demands of consumers for convenient and healthy food options. In recent years, there has been a significant increase in the popularity of ready-to-eat and snack products made from poultry. This report will explore the latest trends in poultry product innovation in the ready-to-eat and snack segments, highlighting key players in the industry and their strategies for success.

Market Overview

The global poultry market is expected to continue growing at a steady pace, driven by increasing consumer awareness of the health benefits of poultry products. According to a report by Grand View Research, the global poultry market size was valued at $231.9 billion in 2020 and is projected to reach $319.2 billion by 2028, with a CAGR of 4.5% during the forecast period.

Ready-to-Eat Poultry Products

Ready-to-eat poultry products have gained popularity among consumers looking for convenient and healthy meal options. Companies like Tyson Foods, Pilgrim’s Pride, and Perdue have been at the forefront of innovation in this segment, introducing a wide range of ready-to-eat chicken and turkey products such as pre-cooked chicken strips, nuggets, and salads.
Tyson Foods, one of the largest poultry producers in the world, has been investing heavily in expanding its portfolio of ready-to-eat products. The company reported net sales of $43.2 billion in 2020, with a significant portion coming from its prepared foods segment, which includes ready-to-eat poultry products.

Snack Poultry Products

Snack poultry products have also seen a surge in demand, as consumers look for protein-rich snacks to fuel their on-the-go lifestyles. Companies like Jack Link’s, Hormel Foods, and Oberto have capitalized on this trend by introducing innovative snack products made from poultry, such as chicken jerky, turkey sticks, and protein bars.
Jack Link’s, known for its beef jerky products, recently entered the poultry snack market with the launch of Chicken Jerky. The company reported net sales of $1.2 billion in 2020, with its poultry snack products contributing to its growth in the snack segment.

Key Trends in Poultry Product Innovation

Health and Wellness

One of the key trends driving innovation in the poultry industry is the focus on health and wellness. Consumers are increasingly looking for products that are low in fat, sodium, and calories, while being high in protein and other nutrients. Companies are responding to this demand by introducing healthier versions of traditional poultry products, such as grilled chicken strips and baked turkey meatballs.

Flavor Innovation

Another trend in poultry product innovation is the focus on flavor. Consumers are seeking bold and exotic flavors in their food, and companies are experimenting with new seasonings, marinades, and sauces to create unique poultry products. Companies like Foster Farms and Sanderson Farms have introduced a variety of flavored chicken wings and drumsticks to cater to this trend.

Conclusion

In conclusion, the poultry industry is seeing a wave of innovation in the ready-to-eat and snack segments, driven by changing consumer preferences and a growing demand for convenient and healthy food options. Companies like Tyson Foods, Jack Link’s, and Foster Farms are leading the way with their innovative products and strategies for success. As the market continues to evolve, we can expect to see even more exciting developments in poultry product innovation in the years to come.