McDonald’s targets growth in chicken and beverage markets

McDonald’s is targeting growth by expanding its presence in the chicken and beverage markets. CEO Chris Kempczinski stated that the company aims to gain an additional 1.5 percentage points of global market share in both categories by 2030.

While the company currently holds a 40% share in the $50 billion global beef category, leadership views the $130 billion chicken market and the $230 billion beverage market as significant opportunities for expansion.

However, recent consumer spending data from Consumer Edge suggests the company faces intense competition. In the third quarter, Chick-fil-A saw a 0.58 percentage point increase in limited-service restaurant spending among McDonald’s customers. Additionally, coffee-focused chains including Starbucks, Dutch Bros. Coffee, Dunkin’, and 7 Brew have captured a larger share of spending from the fast-food giant's customer base.