The global egg market is expanding at an exponential rate and has experienced high proliferation rates in the global market in the past few years. The number of poultry farms is increasing in number and in size across the developing APAC nations such as India, Bangladesh, Srilanka, China, and Myanmar. Eggs with more nutritious content and more favorable characteristics are produced as per the consumer demand, thus, leading to an expansion in egg and egg products market.
Factors Aiding The Expansion Of The Global Egg Industry
The eggs and egg products market across the globe is experiencing gradual growth and increased popularity over the last decade. Factors which are directly driving this growth include the introduction of sophisticated technology employed in the manufacturing of eggs and egg products, the influx of more varieties of eggs other than chicken and ostrich eggs, more stringent safety measures operationalized in poultry farming and distribution of eggs across the various markets with efficiency and timeliness. Poultry farming is done with the use of chemicals which are safe for hens and humans with a thorough check on bio-magnification which may harm end-users. Eggs are consumed as edibles as well as in beauty industry owing to their high protein content and because their kind of protein is readily absorbable in the human body. Egg proteins offer health benefits which are derived from secondary amino acids such as BCASS (which aids in good and efficient muscle growth). Additionally, egg proteins help in quick and efficient muscle recovery making it a preferable choice for athletes and gym enthusiasts. Egg products are available in various different forms – solid, frozen, crystallized, liquid, deep-frozen and concentrated. The rapidly growing global population and the exponential demand from developed as well as developing countries for eggs and egg products is driving the industry. Alongside, an increase in the global disposable income in the developing countries is contributing to the apparent increase in the demand and supply of eggs and egg products.
The industry faces some challenges in spite of the growth. A rise in advocacy against animal cruelty and an increase in the global vegan population is hampering the rise of the industry worldwide. Along with this, an increase in the number of cases reported for bird flu and avian influenza is making consumers make alternative choices to eggs.
Egg Market Segmentation According To The Markets
Countries such as India, Brazil, Indonesia, France, U.S., Mexico, and China are identified as the major producers and suppliers of eggs across the globe. China, out of these, is the highest contributor of eggs in the industry and identifies its export markets in India, Australia, and many European Countries. The global egg and egg products market is observed to be highly competitive due to innovative research and development happening in the field of poultry farming and the transportation of eggs.
Key egg producing companies focus on product innovation and in identifying the right (and most favorable) market to sell their services and products with desirable profit margins. Barry Farms, Noble Foods Ltd, Venkys India, and Dexi Foods Co. Ltd are few of the global giants in the eggs industry. The price fluctuations and the market growth rate of eggs on a global scale has made industrialists invest in coming up with efficient, cost-effective and practical operational strategies.