Egg Market Growth: Trends, Size, Drivers, and Future Projections (2024-2032)
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.”
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
Based on end-use, the market is divided into food service and retail (supermarkets/hypermarkets, grocery stores, e-commerce, and others). The retail segment is estimated to hold the highest market share during the forecast period, owing to the easy accessibility of eggs in grocery stores. The rising convenience of supermarkets/hypermarkets will further boost this segment.
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 outlines the main factors driving market growth, the challenges holding it back, opportunities for expansion, and potential obstacles. It gives a detailed look at developments in different regions, lists major industry players, and explains the key strategies they use. Additionally, it covers the latest industry updates, such as new product launches, partnerships, and mergers and acquisitions.
Drivers & Restraints
Market Flourishes as Health Awareness Spurs Consumption and Government Backing Boosts Growth
The eggs market has seen a notable increase in egg consumption, especially after the pandemic, with people from various demographic groups eating more eggs. The market is growing due to a rise in health consciousness and awareness of healthy diets. Moreover, government efforts to promote the health benefits of eggs are further boosting market growth.
However, the increasing global temperature due to global warming is expected to hamper egg production worldwide, affecting market growth.
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.
Competitive Landscape
Increasing Technological Investments by Key Players to Propel Market Growth
Key players in the market, including Cal-Maine Foods, Inc., Hillandale Farms, and Rose Acre Farms, Inc., S.A., are investing significantly in technological advancements to enhance organic products’ production rate. These investments are expected to boost market growth during the forecast period.
Key Industry Development
- December 2019 – McDonald’s launched its full breakfast options in North & East India, introducing several egg-based dishes including scrambled eggs, egg muffins, and others.
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.)
