Eggs - Armenia | Statista Market Forecast

The Dairy Products & Eggs Market in Armenia has experienced subdued growth, influenced by factors like low consumer health awareness and limited online services. Despite this, the market continues to see growth due to increasing demand for eggs and other dairy products.

Customer preferences: In Armenia, the Eggs Market of the Dairy Products & Eggs Market within The Food market has seen a rise in demand for organic and locally sourced eggs. This trend is driven by growing consumer preference for natural and sustainable food options. Additionally, there has been a shift towards healthier breakfast choices, with more consumers opting for protein-rich breakfasts, leading to an increased demand for eggs. This shift is also influenced by the increasing focus on health and wellness among consumers.

Trends in the market: In Armenia, the Eggs Market of the Dairy Products & Eggs Market within The Food market is seeing a growing trend towards organic and free-range eggs. This trend is driven by increasing consumer awareness about the health benefits of organic eggs and the ethical concerns surrounding conventional egg production methods. The trajectory of this trend is expected to continue, as consumers become more health-conscious and demand for sustainably sourced food products grows. This shift towards organic eggs could have implications for industry stakeholders, as producers may need to adapt their production methods and marketing strategies to meet the changing consumer preferences. Additionally, there may be opportunities for new players to enter the market and cater to this niche segment.

Local special circumstances: In Armenia, the Eggs Market of the Dairy Products & Eggs Market within The Food market is heavily influenced by the country's strong agricultural sector and its rich dairy tradition. The local market is characterized by a high demand for organic and free-range eggs, as well as a preference for traditional and artisanal production methods. This is due to the country's strong cultural ties to farming and its strict regulations on food quality and safety. Additionally, the geographical location of Armenia, situated between Europe and Asia, allows for a diverse range of egg products to be produced and exported, catering to different market segments.

Underlying macroeconomic factors: The Eggs Market of the Dairy Products & Eggs Market within The Food market in Armenia is influenced by macroeconomic factors such as the country's economic health, government policies, and global economic trends. With a stable economic growth and increasing consumer purchasing power, Armenia's dairy and eggs market is expected to experience steady growth. Additionally, the government's support for the agricultural sector and investments in infrastructure development are expected to further drive market growth. However, challenges such as fluctuating commodity prices and limited access to financing may hinder market growth in the short term.

Data coverage:

The data encompasses B2C enterprises. Figures are based on the total consumer spending on food, which comprises all private household spending on food that is meant for at-home consumption (out-of-home consumption is not accounted for).

Modeling approach:

Market sizes are determined through a top-down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, and consumer price index. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Food market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.