Report Overview
The global eggs market size was valued at USD 143.29 billion in 2023 and is projected to grow from USD 150.84 billion in 2024 to USD 222.86 billion by 2032, exhibiting a CAGR of 5.40% from 2024 to 2032.
The eggs market has been evolving and adapting to new PETA-friendly methods due to the rapidly changing consumer base. Different types of eggs in the market, including organic, cage-free, and free-range, are gaining prominence. The nutritional benefits associated with eggs have significantly increased their consumption rate globally, and is expected to drive market growth during the forecast period.
Fortune Business Insights presents this information in their report titled “Eggs Market, 2024-2032.”
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.)
Segments:
Conventional Eggs Maintain Market Leadership, Fueled by Production Efficiency and Widespread Availability
By product type, the market is segmented into conventional, cage-free, organic, and free-range. The conventional segment is projected to hold a significant market share during the forecast period. The growth is attributed to the high availability of conventional eggs due to their increased production rate.
Easy Accessibility and Hypermarket Convenience Propel Retail Segment's Share
The market is segmented into two main categories: food service and retail, which includes large supermarkets, hypermarkets, grocery shops, online retailers, and more. It is projected that the retail category will dominate the market throughout the forecast period, primarily because grocery stores are easily accessible. Additionally, the increasing convenience offered by large supermarkets and hypermarkets will contribute to the growth of this category.
Geographically, the market is studied across North America, Europe, Asia Pacific, South America, and the Middle East and Africa.
Source: https://www.fortunebusinessinsights.com/eggs-market-108483
Report Coverage
The report highlights the main reasons behind market growth, the challenges it faces, opportunities for expansion, and potential obstacles. It provides an in-depth look at regional developments, lists major industry players, and explains their key strategies. It also covers the latest industry news, including new product launches, partnerships, and mergers and acquisitions.
Eggs Market Future Outlook
- Growing Demand: The global demand for eggs is expected to rise. This trend is driven by a growing population and increasing health consciousness among consumers.
- Sustainability Practices: More farms are adopting sustainable practices. This shift will likely appeal to eco-conscious buyers and could boost market growth.
- Innovative Products: The market is seeing an increase in innovative egg products. Examples include organic, free-range, and fortified eggs, catering to diverse consumer preferences.
- Technological Advancements: Advances in farming technology may improve production efficiency. This can lead to lower costs and potentially higher profit margins for producers.
Drivers & Restraints
Market Flourishes as Health Awareness Spurs Consumption and Government Backing Boosts Growth
Since the pandemic, egg consumption has increased across various demographic groups, driven by a heightened focus on health and nutritious diets. Government campaigns promoting the health benefits of eggs have also played a key role in fueling this market growth.
However, rising global temperatures caused by climate change are expected to negatively impact egg production worldwide, posing a potential challenge to the market's continued expansion.
Regional Insights
Asia Pacific Takes the Lead as China and India Steer Consumption and Production Trends
Asia Pacific holds the largest eggs market share and is anticipated to continue its dominance during the projected period. The growth in the region can be attributed to the high consumption rate of eggs in India, China, and Japan, with China and India being prominent egg producers.
North America is also estimated to hold a major share of the market due to increased egg consumption in North American countries, including Mexico and the U.S.
Market Trends and Insights
In recent years, the egg market has experienced several significant trends influencing consumer preferences and purchasing behavior. One prominent trend is the increasing demand for organic and free-range eggs, driven by consumers' growing concerns about sustainability and animal welfare. In response, many egg producers have broadened their offerings to include these products, catering to this expanding segment.
Another noteworthy development is the rise of specialty eggs, such as omega-3 enriched and pasteurized eggs. These options provide added health benefits and enhanced food safety, attracting consumers seeking premium-quality products. Additionally, innovations in packaging technology have improved convenience in accessing and storing eggs, further contributing to the market's growth.
Competitive Landscape
Increasing Technological Investments by Key Players to Propel Market Growth
Major companies in the market, such as Cal-Maine Foods, Hillandale Farms, and Rose Acre Farms, are heavily investing in new technologies to improve the production of organic eggs. These efforts are anticipated to drive market growth in the coming years.
KEY INDUSTRY DEVELOPMENTS:
June 2022: ISE Food Inc., one of the leading egg producers in Japan, announced its expansion into the Indian market by launching its products in several retail channels in India. The launch aims to cater to the growing Indian egg market.