Key Drivers Influencing The Global Egg Market In The Coming Years - By The Business Research Company

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Feb 14, 2023, 06:40 ET

Egg Global Market Report 2023 By The Business Research Company describes and explains the retail sourcing and procurement market and covers 2017-2022, termed the historic period, and 2022-2027 termed the forecast period, along with further forecasts for the period 2027-2032. The report cover market sizing information, market trends, strategies, and opportunities for the seven regions and major players of the market.

LONDON, Feb. 14, 2023 /PRNewswire/ -- As per The Business Research Company's Egg Global Market Report 2023, The global egg market grew from $248.4 billion in 2022 to $270 billion in 2023 at a compound annual growth rate (CAGR) of more than 8%. The egg market is then expected to grow to $374.8 billion in 2027 at a CAGR of more than 8%.

The global egg market is supported by high demand for high quality egg products, a surge in demand for confectionery and bakery products and high awareness about health and fitness. For example, in 2022, the International Egg Commission (IEC), a UK-based organization representing the global egg business and connecting people worldwide, launched a new global project called Vision 365, which aims to raise awareness and increase egg consumption by 2032.

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A major supporter of this rapid growth in the egg market is the rising global population, which in turn, will create more demand for protein sources, especially eggs. Animal farming and trade volumes will have to increase in order to meet the increased population. To this end, companies in the egg market are increasing investments in the manufacturing and technological advancements of egg production, which will help meet the growing demand for egg market.

For example, in January 2023, Cal-Maine Foods Inc., a US-based fresh egg producer, partnered with Entegrity Energy Partners, a US-based energy services, sustainability and solar development company. This partnership helped Cal-Maine Foods to become the most sustainable producer and reliable supplier of high-quality fresh shell eggs and egg products in the United States.

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The global egg market is segmented -

1) By Type: Hen, Other Birds

2) By Application: Food & Beverage, Bakery, Snacks, Meat, Other Applications

3) By Product: Shell Eggs, Specialty Eggs

4) By Distribution Channel: B2B, B2C

As per the egg market analysis the top potential growth can be expected in the following segments in the egg market are:

By type will arise in the hen segment, which will gain $116.6 billion of global annual sales by 2027
By product will arise in the conventional segment, which will gain $103.1 billion of global annual sales by 2027
By sales channel will arise in the offline segment, which will gain $118.8 billion of global annual sales by 2027

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