Eggs Market To Register A Significant Growth of $126.1 Billion By 2028, Owing To Technological Advanced And Innovating Products Packaging Technique | Million Insights

April 12 05:10 2022
Eggs Market To Register A Significant Growth of $126.1 Billion By 2028, Owing To Technological Advanced And Innovating Products Packaging Technique | Million Insights
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According to new report available with Million Insights, the global eggs industry is expected o witness enhanced growth due to increasing production and consumption of eggs in developed and developing economies during the forecast period.

The global eggs market size is expected to reach USD 126.1 billion by 2028, registering a CAGR of 3.3% over the forecast period, according to a new report by Million Insights. The increasing production and consumption of eggs in developed and developing economies is accelerating market growth over the last few years. Additionally, technological advanced and innovating products packaging technique has projected the market growth over the forecast period.

The increasing demand and consumption of animal proteins, and eggs continues to remain one of the fastest-growing proteins around the globe which has significantly accelerated market growth. Moreover, the rising demand from consumers for convenience and nutritious food products has projected market growth over the forecast period. In addition to this, continuously changing consumers eating habits will propel market growth over the forecast period.

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U.S. Eggs Market size, by distribution channel, 2018 - 2028 (USD Billion)

Moreover, a lockdown situation has been observed during the COVID-19 pandemic, and it showed a slightly declined trend due to the suspended supply chain of the products in various countries. Closure of the restaurant and commercial activities, and various restrictions on the movement of the people have disrupted or stopped the supply chain of essential products by measures arising from COVID-19 restrictions.

The barn (cage-free) segment is expected to witness the fastest CAGR of 3.8% from 2021 to 2028. The increasing demand for cage-free products to enhance protein content is expected to accelerate the growth of the market. Moreover, the changing consumers’ interests and dietary preferences associated with culture and region have projected the market growth over the forecast period. In addition, the rising consumption of barn eggs to improve the bone strength of consumers is further expected to drive the market.

The online segment is expected to register the fastest CAGR of 4.3% from 2021 to 2028. An upsurge in product sales through various company-owned websites and e-commerce platforms is expected to propel the growth of the online distribution channel segment during the forecast period. The internet penetration rate has witnessed lucrative growth in recent years, which in turn is accelerating the market growth of this segment.

Asia Pacific dominated the market and accounted for the largest revenue share of over 45.0% in 2020. This can be mainly credited to changing lifestyles and rising urbanization. The increasing consumer awareness and acceptance regarding convenience and affordable protein-rich food products is an important factor in the growth of the market. In addition to this, the increasing consumption of these products in developing countries like China, India, and Japan owing to consumers inclined towards a healthy lifestyle is expected to accelerate the regional market growth over the forecast period.

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Global Eggs Market share, by product, 2020 (%)

Eggs Market Report Highlights

• Asia Pacific is expected to register the largest revenue share of more than 45.0% in 2020 owing to increasing demand for nutritious food products

• The barn segment is expected to foresee the fastest CAGR of 3.8% from 2021 to 2028 due to rich protein sources for human consumption

• The offline distribution channel segment held the largest revenue share of more than 80.0% in 2020 due to well-established distribution network across the globe

• In Europe, the market is expected to witness the fastest CAGR of 4.0% from 2021 to 2028 owing to changing lifestyles and busy life schedules

Eggs Market Segmentation

Million Insights has segmented the global eggs market on the basis of product, distribution channel, and region:

  • Eggs Product Outlook (Revenue, USD Million, 2017 – 2028)
    • Organic Eggs
    • Free Range
    • Barn
    • Caged
  • Eggs Distribution Channel Outlook (Revenue, USD Million, 2017 – 2028)
    • Offline
    • Online
  • Eggs Regional Outlook (Revenue, USD Million, 2017 – 2028)
    • North America
      • U.S.
    • Europe
      • Germany
      • U.K.
      • France  
    • Asia Pacific
      • China
      • Japan
      • India
    • Central & South America
      • Brazil
    • Middle East & Africa
      • South Africa

List of Key Players of Eggs Market

  • Cal-Maine Foods
  • Charoen Pokphand Group
  • Proteína Animal S.A. DE C.V.
  • Rose Acre Farms
  • ISE Foods Inc.
  • Keggfarms Pvt. Ltd.
  • Hy-Line International
  • Noble Foods Ltd
  • Venkys India
  • Land O’Lakes, Inc.

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