The global eggs market size was valued at USD 97.3 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 3.3% from 2021 to 2028. The increasing consumption of eggs in developed and developing economies is propelling market growth. Moreover, the increasing per capita egg consumption by individuals across the globe 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 consumer’s eating habits will propel the market growth over the forecast period.
Technological development and advancement in the storage and packaging of products are expected to accelerate market growth over the upcoming years. Companies involved in egg-producing are adopting new technologies like robotics, IoT, and big data analytics to increase productivity, this may propel the market growth. Moreover, the rising consumer awareness and acceptance regarding convenience food products is an important factor in the growth of the market. However, eggs contain fats and cholesterol, and high consumption of them causes heart diseases, which is restraining market growth.
The COVID 19 pandemic had suspended the supply of eggs and disturbed transportation services for a short duration in many countries. Closure of the restaurants 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 increasing demand for eggs after the COVID pandemic has created opportunities for the market players. Thus, the market has expected to accelerate a healthy market growth rate in the upcoming years.
The offline channel dominated the market and accounted for the largest revenue share of more than 80.0% in 2020. The offline segment includes hypermarkets and supermarkets, convenience stores, specialty stores, retail stores. Consumers are preferring offline channels for purchasing goods, grocery as well as eggs, and other food products, where they can physically verify product quality. Suppliers of products use the traditional retail channel to sell by advertising and marketing.
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 growth of the segment.
The free range segment dominated the market and accounted for the largest revenue share of more than 45.0% in 2020. The segment is expected to witness a CAGR of 3.1% from 2021 to 2028. The rising awareness and sensitivity towards ethical and animal standards are accelerating demand for free-range products. Moreover, the growing demand for protein-rich and high nutrition value food are boosting market growth over the last few years.
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.
Asia Pacific dominated the global eggs market and accounted for a 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.
In Europe, the market is expected to witness a CAGR of 4.0% from 2021 to 2028. The increasing consumption of these products owing to diverse protein sources and consumers inclined towards a healthy lifestyle will accelerate regional growth. Moreover, the growing per capita consumption of eggs in this region has expected to propel market growth over the forecast period. The growing demand for premium quality products and protein-rich products is boosting the growth of the market in the region.
The market is fragmented with the presence of various established market players and suppliers of eggs across the globe. Some of them are Cal-Maine Foods, Charoen Pokphand Group, Proteína Animal S.A. DE C.V., and Rose Acre Farms coupled with numerous domestic players as well. Various manufacturers and suppliers are focusing on the development of innovative packaging, logistic development, and strengthening distribution channels to enhance their business. Such initiatives are expected to boost the adoption rate of the product among consumers around the globe. Some of the prominent players in the eggs market include:
|
Report Attribute |
Details |
|
Market size value in 2021 |
USD 100.1 billion |
|
Revenue forecast in 2028 |
USD 126.1 billion |
|
Growth Rate |
CAGR of 3.3% from 2021 to 2028 |
|
Base year for estimation |
2020 |
|
Historical data |
2017 - 2019 |
|
Forecast period |
2021 - 2028 |
|
Quantitative units |
Revenue in USD million and CAGR from 2021 to 2028 |
|
Report coverage |
Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
|
Segments covered |
Product, distribution channel, and region |
|
Regional scope |
North America; Europe; Asia Pacific; Central & South America; Middle East & Africa |
|
Country scope |
U.S.; Germany; U.K.; France; China; India; Japan;Brazil; South Africa |
|
Key companies profiled |
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. |
|
Customization scope |
Free report customization (equivalent up to 8 analysts’ working days) with purchase. Addition or alteration to country, regional, and segment scope. |
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2028. For the purpose of this study, Million Insights has segmented the global eggs market report on the basis of product, distribution channel, and region:
Sign up today.
Call us at +1-408-610-2300 to speak with a
representative.
All Reports
