Increase in consumer awareness about healthy diet, rise in demand for proteins as nutritional and functional ingredients, and several initiatives taken by government organizations to encourage organic poultry farming techniques drive the growth of the global organic eggs market
PORTLAND, Ore., Oct. 5, 2021 /PRNewswire/ -- Allied Market Research published a report, titled, "Organic Eggs Market by Application (Retail, Food Processing, Food Service and Others), Distribution Channel (Supermarket and Hypermarket, E-Commerce, Convenience stores, Bulk Suppliers and Others), and Size (Extra Large and Jumbo, Medium and Large and Small): Global Opportunity Analysis and Industry Forecast, 2021-2030." According to the report, the global organic eggs industry was estimated at $3.41 billion in 2020, and is anticipated to hit $11.21 billion by 2030, registering a CAGR of 12.1% from 2021 to 2030.
Drivers, restraints, and opportunities-
Increase in consumer awareness about healthy diet, rise in demand for proteins as nutritional and functional ingredients, and several initiatives taken by government organizations to encourage organic poultry farming techniques drive the growth of the global organic eggs market. On the other hand, surge in demand for plant-based proteins and high price of organic eggs restrain the growth to some extent. However, introduction of organic food in untapped market, high-end product innovation, and rise in demand for organic egg ingredients are expected to create multiple opportunities in the industry.
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COVID-19 scenario-
- Growing consumption of healthy and functional food, during the pandemic, has impacted the growth of organic eggs market positively.
- This growth is most likely to sustain till the pandemic is completely over.
The retail segment to dominate by 2030-
Based on application, the retail segment dominated with the largest share in 2020, holding around three-fourths of the global organic eggs market. Retail distribution is gaining popularity owing to the availability of broad range of consumer goods under a single roof. This factor drives the growth of the segment. However, the food processing segment is expected to cite the fastest CAGR of 14.7% throughout the forecast period. Increase in demand for organic ingredients in the food & beverages industry propels the segment growth.
The supermarket and hypermarket segment to maintain the dominant share-
Based on distribution channel, the supermarket and hypermarket segment held the highest market share in terms of revenue, accounting for around two-fifths of the global organic eggs market. This is due to the fact that supermarkets are especially located near residential areas for convenience and easy accessibility and that is the reason why people highly prefer to buy organic eggs from supermarkets. Simultaneously, the e-commerce segment is estimated to exhibit the fastest CAGR of 16.4% during the forecast period. This is because easy accessibility offered by e-commerce platforms boosts their adoption in the organic eggs market; thus, becoming a popular medium for the purchase of organic eggs.
North America garnered the major share in 2020-
Based on region, the market across North America dominated the market with the major share in 2020, accounting for nearly half of the global organic eggs market. This is attributed to rise in number of U.S. consumers adapting a healthy lifestyle or indulging in activities that promote active and healthy life. On the other hand, the market across Asia-Pacific is expected to witness the fastest CAGR of 14.9% from 2021 to 2030. Increasing growth in awareness about organic egg white protein and whole egg protein as a sports or refreshment drink drives the market growth.
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Key players in the industry-
- Michael Foods Inc.
- LDC
- Hickman's Egg Ranch
- Trillium Farm Holdings LLC
- SUN DAILY
- Plukon Food Group
- Cal-Maine Foods Inc.
- DQY Ecological thehappyhensfarm.com.
- Sisters Food Group
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