Summary
Major players in the chicken bucket market are Graphic Packaging International, Huhtamäki Oyj, Dart Container Corporation, DJS Printers, Westgate Products Ltd., Anchor Packaging LLC, Pactiv Evergreen Inc., Hos Win Enterprise Co. Ltd., Hyper Pack Private Limited, Thoran Paper Products, Noor Carton & Packaging Industry, Detmold Group, Plus Paper Foodpac Ltd., Yesve Enterprises, Richoos General Trading LLC, and Packaging Industries LLC.
The global chicken bucket market is expected to grow from $1.85 billion in 2022 to $1.94 billion in 2023 at a compound annual growth rate (CAGR) of 4.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The chicken bucket market is expected to grow to $2.31 billion in 2027 at a CAGR of 4.5%.
The chicken bucket market consists of sales of buckets for chicken made from cardboard material.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Chicken bucket is a disposable packaging made of durable paper and other materials.Large-size chicken bucket packaging is used for serving more chicken.
The paper bucket chicken is also used for serving takeaway meals.
North America was the largest region in the chicken bucket market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in the chicken bucket market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The materials of the chicken bucket are paper and paperboard, and plastic.Paper and paperboard refer to matted or felted sheets made of plant fibers, usually including trees, recycled paper, or paperboard waste, such as corrugated boxes, newsprint, sacks, bags, and cartons.
The capacity involved are less than 1.0 kg, 2.0 kg, 3.0 kg, and more than 3.0 kg that are used by food service, institutional, and household end users.
The rising demand for chicken from developing economies is expected to propel the chicken bucket market going forward.The demand for chicken is increasing due to it being a popular meat choice and its benefits of essential nutrients such as protein, niacin, selenium, and phosphorus.
Due to its low-calorie content and high protein content, chicken is especially beneficial for weight loss and maintaining lean body mass.Chicken buckets are disposable packaging with various sizes used for serving chicken.
This type of packaging is also used for serving takeaway meals. For instance, according to Veterinaria Digital S.A., a Panama-based international site of reference on veterinary medicine and animal production, in 2021, a total of 4,60,159 metric tons of chicken meat were exported to Asian countries, which was valued at approximately $864 million ($0.8 billion). Furthermore, according to the United States Department of Agriculture Report, a US-based department responsible for developing and implementing federal laws on farming, forestry, rural economic development, and food, China’s chicken meat consumption was expected to reach 15.7 million metric tons in 2021, up 2% from last year, due to pork prices and COVID-19. Therefore, the rising demand for chicken from developing economies is driving the chicken bucket market.
Product innovations are a key trend gaining popularity in the chicken bucket market.Major companies operating in the chicken bucket are introducing innovative products to strengthen their position in the market.
For instance, in November 2021, KFC, a US-based fast-food restaurant company that specializes in fried chicken, launched a limited-edition Finger Lickin’ Chicken Mitten Bucket Hugger, which includes fried chicken in a bucket made up of one-of-a-kind knitted sweater that features a festive KFC holiday design. These chicken buckets featured a Winter Chickenland theme to celebrate the holiday season.
In May 2021, Graphic Packaging, a US-based paperboard mills company acquired remaining shares of International Paper and became the owner of a 100% stake for an undisclosed amount.Through this acquisition, Graphic Packaging strengthened its position in fiber-based consumer packaging across all three paperboard substrates.
International Paper is a US-based pulp and paper company which is specialized in providing renewable fiber-based packaging and pulp products while its Europe Middle East and Africa-based operation also provides cups, lids, and food containers.
The countries covered in the chicken bucket market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
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