Fried chicken is having a moment with global consumers – one that will continue throughout the 2020s, according to a new report from Market Research Future.
Globally, takeout fried chicken is expected to reach a value of $8.3 billion by 2025, expanding at a compound annual growth rate (CAGR) of 5.47% during that period.
In North America and Europe, demand for breast meat is expected to be high. Breast meat is one of the most popular fried chicken offerings, featuring crispy skin and a moist flavorful interior when deep-fried. Chicken sales in the US have seen significant growth in recent years, rising 42.1% between 2011 and 2016, according to market research firm Euromonitor International.
Fried chicken sandwiches, tenders and nuggets are easily found at numerous quick service restaurants. In 2019, a viral feud between quick service rivals Chick-fil-a and Popeyes made fried chicken a hot commodity in the US.
Asia-Pacific is expected to show the greatest CAGR during the forecast period, as many quick service chains expand to serve the global market.
The takeout takeover
Because of fast-paced lifestyles and busy schedules, many modern consumers have turned to convenient and inexpensive takeout for meals. Off-premises dining accounted for 27% of restaurant industry sales in 2018.
"As takeout becomes more widely available, ordering takeout is becoming more of a habit for consumers when they don't want or have time to cook, yet they also don't feel like dining in at a restaurant,” Anne Mills, manager of consumer insights at Technomic, said.
Takeout includes orders made in person, by the phone or online through apps such as Grubhub or Uber Eats. Because of their convenience and ease, use of food delivery apps is expected to be a major contributor to the expansion of the fried chicken takeout market through 2025. Investment bank UBS forecasts that delivery sales will be valued at $365 billion worldwide by 2030.
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