Explore the dynamic landscape of the global egg industry in 2023, from rising demand to the powerhouse nations shaping this thriving market.
1. Rising Global Demandđ
Egg production globally is on the rise, driven by the expected global population jump from 8 to 10 billion by 2059, according to UN estimates. This surge underscores a growing demand for affordable protein and essential nutritional benefits.
2. The Power of Top Producersđ„
According to FAOSTAT data, accessed February 20, 2023, the Top 10 Egg Producing Countries represents a whopping 71% of the world’s egg production, with the top 40 countries covering an impressive 93%. These countries are at the forefront of meeting the rising global demand for eggs.
3. China Leads the Packđ
China takes the lead in egg production, contributing over 29 million metric tons, which is one-third of the world’s total egg output. Following closely are India with 6.7 million metric tons and the USA with 6.6 million metric tons.
4. Asia’s Egg Powerhouseđ
Besides China, significant contributions to global egg production come from key Asian players like India, Indonesia, and Japan, together contributing around 14 million metric tons. Their collective impact is shaping the global egg industry.
5. Market Growth Insight đ
Insights from The Research and Markets’ Egg Global Market Report 2023 show substantial growth. The global egg market surged from $248.49 billion in 2022 to $270.08 billion in 2023, with an impressive compound annual growth rate (CAGR) of 8.7%. Projections suggest continued growth to $374.89 billion by 2027 at a CAGR of 8.5%, indicating significant opportunities for innovation and expansion in the egg industry.
Egg producers, let’s hatch new possibilities! đ„
