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National & World Ag News Headlines |
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Prominence of Private Labels Growing Global Egg Market
USAgNet - 04/23/2019
The global poultry eggs market is expected to post a CAGR of over 4% during the period 2019-2023, according to the latest market research report by Technavio.
Eggs are a popular choice of protein for a majority of the global population, as they are affordable and healthy. Moreover, egg yolks are a significant source of vitamins, minerals, and fat. They contain fat-soluble vitamin D and are naturally high in choline.
Choline promotes normal cell activity, liver function, and the transportation of nutrients throughout the body. It also contributes to fetal brain development and helps prevent congenital disabilities. Therefore, to promote such benefits, several campaigns across the
world are promoting egg consumption. For instance, the U.S. government is promoting egg consumption in schools as a part of its National School Lunch Program and the Supplemental Nutrition Assistance Program. Thus, with such initiatives, the market for
poultry eggs is expected to showcase a positive outlook during the forecast period.
As per Technavio, the growing prominence of private label brands will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global poultry eggs market research report also analyzes other important trends
and market drivers that will affect market growth over 2019-2023.
Currently, major retailers across the world are introducing their brands of egg products to capitalize on the growing demand for poultry egg products among consumers. Private label egg products, which are affordable, are becoming popular among consumers.
These products are stocked at retail stores and are available at prices lower than those of branded products. Price-sensitive consumers are more likely to purchase private label egg products because of their low cost. Therefore, it is expected that private label
brands will boost the growth for the global poultry eggs market during the forecast period.
"The rise in global egg consumption is another major factor that is boosting the growth of the global poultry eggs market. The global per capita consumption of eggs grew at a steady rate in the last decade, primarily driven by countries such as China, Japan, and
the U.S. The growing population is also another major factor that drives the production capacity and supply of the product. Moreover, increasing health-consciousness about protein intake has also led to an increase in consumption of eggs and egg products,
thereby driving the sales of poultry eggs," says a senior analyst at Technavio.
This market research report segments the global poultry eggs market by product (shell eggs, specialty eggs, and processed egg products) and geographical regions (APAC, North America, Europe, South America, and MEA).
The APAC region led the market in 2018, followed by North America, Europe, South America, and MEA, respectively. However, during the forecast period, the North American region is expected to register the highest incremental growth due to the rising
awareness of the various benefits associated with the consumption of eggs in the region.
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