Answer: The chemical species formed in a chemical reaction are products.
Step-by-step explanation:
In a chemical equation, the chemical species are called as reactants or products.
Reactants are defined as the chemical species that react in the reaction and are written on the left side of the reaction arrow.
Products are defined as the chemical species that are produced in the reaction and are written on the right side of the reaction arrow.
For Example: Formation of water from hydrogen and oxygen gases, the equation follows:

The chemical species
are termed as reactants and
is termed as products.
Hence, the chemical species formed in a chemical reaction are products.