Market sizing follows a top-down structure cross-checked against production economics. The total addressable market, the South African chicken market, runs to roughly two million tonnes and well over R100 billion in value. The serviceable addressable market, comprising the premium, free-range and welfare-certified segment the Company targets, is estimated at roughly R12 billion. The serviceable obtainable market, Golden Range’s Year-5 revenue of R612 million, is a small share of that premium niche.

Bottom-up cross-check — birds and realisation

The revenue reconciles bottom-up against production. The plan builds from 400,000 birds in Year 1 to 2.8 million by Year 5, at a blended revenue realisation of roughly R195–R220 per bird across whole birds, portions, value-added products, eggs, by-products and fertiliser, a premium to commodity realisation that the free-range, branded, value-added positioning supports. Value-added and processed products lift realisation and margin as the mix matures, and the diversified streams provide several independent contributors to the total.

Year-5 revenue bridge by stream

The Year-5 target is built from six independent product streams, none dominant beyond the whole-bird core, which both diversifies risk and lifts realisation per bird above commodity economics.