The global eggs market size was valued at USD 136.17 billion in 2022. The market is projected to grow from USD 143.29 billion in 2023 to USD 207.08 billion by 2030, exhibiting a CAGR of 5.40% during 2023-2030.
The global consumption of eggs has been on the rise due to their nutritional value and high affordability. The evolving consumer base has led to the development and adoption of new PETA-friendly methods by egg producers worldwide. The consumption of eggs is further propelled by the introduction of new and creative dishes in various cuisines.
Fortune Business Insights™ mentioned this in a report titled “Eggs Market, 2023-2030.”
List of Key Players Present in the Report:
- Cal-Maine Foods, Inc. (U.S.)
- Rose Acre Farms Inc. (U.S.)
- Hillandale Farms (U.S.)
- Versova Holdings LLP (U.S.)
- Daybreak Foods (U.S.)
- CP Group (Thailand)
- Beijing Dequingyuan Agricultural Technology Co. Ltd. (China)
- Ise Inc. (Japan)
- Arab Company of Livestock Development (ACOUD) (Saudi Arabia)
- Gemperle Family Farms (U.S.)
Source Link :
https://www.fortunebusinessinsights.com/eggs-market-108483
Segments:
Conventional Eggs Steer Market Growth, Favored for Global Penetration
By product type, the market is classified into conventional, cage-free, organic, and free-range. The conventional segment is expected to have a high market share during the projected period. This growth can be attributed to the increasing penetration of conventional eggs due to the high preference for conventional production methods globally.
Retail Segment Thrives as E-commerce reshapes Retail Landscape
Based on end-use, the market is bifurcated into food service and retail (supermarkets/hypermarkets, grocery stores, e-commerce, and others). The retail segment is expected to hold the largest market share during the forecast period. This growth is attributed to the rising advancement and expansions of the e-commerce retail segment in the eggs market.
Geographically, the market is studied across North America, Europe, Asia Pacific, South America, and the Middle East and Africa.
Report Coverage-
The report offers:
- Major growth drivers, restraining factors, opportunities, and potential challenges for the market.
- Comprehensive insights into regional developments.
- List of major industry players.
- Key strategies adopted by the market players.
- The latest industry developments include product launches, partnerships, mergers, and acquisitions.
Drivers & Restraints
Advanced Technologies Propel Market, Streamlining Supply Chains and Enhancing Accessibility
The rising adoption of advanced technologies, including big data analytics and IoT, by key players, is boosting the growth of the eggs market during the forecast period. The advancements in the e-commerce industry, facilitating rapid product delivery, are expected to further drive market growth. These new technologies aid egg producers in reducing supply chain and transportation constraints, thereby aiding market growth.
However, the increasing impact of climate change due to global warming may hinder market growth, affecting the quality, quantity, and size of eggs produced in poultry farms.
Regional Insights
Asia Pacific Dominates as China and India Lead the Charge
Asia Pacific held the largest eggs market share in 2022, valued at USD 81.49 billion. This growth is attributed to the rising consumption rate of eggs in India, China, and Japan. China and India, accounting for approximately 40% of worldwide egg production, are major contributors to this growth.
North America is also expected to hold a significant market share during the forecast period, driven by the widespread consumption of eggs, especially in Mexico and the U.S., boosting regional growth.
Competitive Landscape
Rising Key Players’ Focus on Technological Investments to Drive Market Growth
The market comprises key players including Rose Acre Farms, Inc., S.A., Hillandale Farms, and Cal-Maine Foods, Inc. These key players are focusing on technological investments to enhance the manufacturing rate of organic products due to their increasing demand worldwide. For instance, Cal-Maine Foods, Inc. initiated investments in the organic product range in April 2022 to meet the growing demand for organic products.
Key Industry Development
- December 2021 – India-based egg production and delivery startup Eggoz raised USD 3.5 million in funding to introduce its D2C channel, aiming to increase market penetration and enhance delivery services.