Egg is an animal reproductive body that is ellipsoidal or spherical in shape. It is produced & released outside of the animal body by birds, snakes, fish, insects, turtles, and other animals. Global egg market is expected to witness significant development during the coming years, with emerging countries providing a fertile ground for growth due to high production of eggs as well as rise in per capita consumption. Based on product type, market can be segregated into pasteurized liquid white, ready-cooked egg meals, liquid egg, pasteurized liquid yolk, hardboiled egg, and dehydrated egg. The liquid egg segment is further sub-segmented as egg yolk, whole egg, and egg white. Some of the key benefits of eggs include brain health, healthy immune system, strong muscles, lower risk of heart disease, energy production, healthy pregnancy, skin health, eye health and weight loss & maintenance.
Egg market practices are likely to enhance the use new poultry & egg storage technologies. Players involved in the egg market are also predicted to integrate the big data analytics, robotics, Internet-Of-Things (IoT) and other technologies in to their practices. For example, farmers have started using robots for egg packaging to boost the productivity. These technological developments are anticipated to drive the egg market forward.
As per analysis, “Egg Global Market Report 2020-30: Covid 19 Impact and Recovery” the key companies operating in the global egg market include Proteina Animal S.A. DE C.V.; Cal-Maine Foods; Rose Acre Farms; ISE Foods Inc.; Charoen Pokphand Group and among others. Renowned companies in the global market are mainly focusing towards geographical expansion, product innovation, and novel product launches to maintain their eminence in the global arena.
By type, egg market can be segregated as hen and other birds. By application, market can be segregated as bakery, meat, food & beverage (sweet & savory snacks, bakery & confectionery, dressings & spreads, sauces, and others) and snacks. By product type, market can be segregated as specialty eggs and shell eggs. In addition, by distribution channel, market can be segregated as Business-to-Customers (B2C) and Business-to-Business (B2B).
The egg market is driven by growth in popularity of egg-based products, followed by large-scale availability of various egg products, growth in middle-class population in emerging countries, rise in disposable income, growth in technological advances and rapidly growing global population. Apart from this, population of vegan worldwide may impact the market. Moreover, increase in occurrence of bird flu or avian influenza is a major challenge for global market.
Based on regional analysis, the Asia-Pacific is the leading region in global egg market owing to increase in number of health-conscious consumers across the region. The Europe and North-America regions are expected to exhibit higher growth rate due to high consumption of egg products as a convenient breakfast food over the forecast period. It is anticipated that future of the global market will be bright because of growth in advancements in food processing industry during the forecast period.
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Ankur Gupta, Head Marketing & Communications