Eggs - ASEAN | Statista Market Forecast

The Eggs Market in the ASEAN region is experiencing minimal growth, impacted by factors such as saturation in the market, changing consumer preferences, and increasing competition. Despite this, the market is driven by the convenience and health benefits of eggs, along with rising health consciousness among consumers. This has led to a steady increase in the adoption of digital technologies in the market.

Customer preferences: As consumers become more health-conscious, there has been a growing demand for organic and free-range eggs in the ASEAN region. This trend is largely driven by the increasing awareness of the negative environmental and ethical impacts of conventional egg production methods. Additionally, there is a growing preference for cage-free eggs, as consumers become more concerned about animal welfare. This shift towards ethical and sustainable egg production is expected to continue, as consumers become more informed and conscious of their food choices.

Trends in the market: In ASEAN, the Eggs Market of the Dairy Products & Eggs Market within The Food market is experiencing a shift towards sustainable and ethically-sourced eggs. This trend is driven by increasing consumer awareness and demand for environmentally-friendly and socially responsible products. Furthermore, there is a growing trend of incorporating eggs in various cuisines and dishes, leading to an increase in demand for specialty and organic eggs. These developments have significant implications for industry stakeholders, who must adapt to meet changing consumer preferences and potentially invest in sustainable and ethical production practices.

Local special circumstances: In Indonesia, the Eggs Market of the Dairy Products & Eggs Market within The Food market is heavily influenced by the country's vast and diverse geography. Due to the archipelagic nature of the country, transportation and distribution of eggs can be challenging and costly, leading to higher prices for consumers. Additionally, Indonesia's rich culinary culture places a strong emphasis on using eggs in many dishes, creating a high demand for eggs in the market. These unique local factors contribute to the dynamics of the Eggs Market in Indonesia, making it different from other markets in the ASEAN region.

Underlying macroeconomic factors: The Eggs Market of the Dairy Products & Eggs Market within The Food market in ASEAN is influenced by macroeconomic factors such as changing consumer preferences, increasing demand for protein-rich foods, and government initiatives promoting the dairy industry. Countries with strong economic growth and rising per capita income are experiencing higher demand for dairy products, including eggs. Moreover, factors such as urbanization, changing dietary patterns, and increasing awareness about the nutritional benefits of eggs are also contributing to the growth of the market. However, challenges such as fluctuations in raw material prices and stringent food safety regulations may hinder market growth.

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.