Take a bite out of the chicken market
Would investing in a fast food chicken outlet make sense? Check out these facts about the fast food arena and Australia's favourite meat.
The humble chook accounts for the third largest share (17.5%) of the fast food industry turnover, which is worth a total $19.3bn according to IbisWorld’s Fast Food Services in Australia industry report (July 2016).
Convenience, value and health
Customer perception of chicken as a healthier choice than other fast food options has helped the sector grow.
There are two other key drivers that affect this market: discretionary income and convenience.
Today many households have two working parents – and that demographic can boost demand in the fast food sector because the need for convenience is matched by disposable income to pay for takeaway or delivered ready meals.
Last year’s figures from the Australian Bureau of Agricultural and Resource Economics and Sciences indicate that chicken meat production is set to increase through to 2020.
Andreas Dubs, executive director of the Australian Chicken Meat Federation, says that the report confirms the industry’s own assessment. “Consumers appreciate the good value that chicken represents but also appreciate the consistent quality, convenience, versatility and nutritional qualities of chicken meat.”
And in 2011 about 19 percent of all chicken meat was destined for fast food outlets.
Australians are big meat eaters, and like our global cousins, big consumers of chicken. The per capita consumption of poultry meat in Australia was just over 10kg in 1970 – 40 years later it was estimated at more than 43kg.
According to the Organisation of Economic Development and Cooperation, chicken has overtaken pork as the most popular meat on the plate worldwide.
So what’s so good about chicken? It’s a low fat meat with significant sources of protein, magnesium, niacin, B6, B12, vitamin D, iron and zinc.
Chicken retailer Lenards points out that 100g of baked chicken provides nine percent of the recommended dietary requirements for energy.
It’s perceived as good value meat too.
But above all it tastes great and that’s what appeals to the average Aussie consumer.
- Are your taste buds tempted? Check out some of the brands in the sector.