Key regions: India, United States, Russia, South Korea, Japan
The Eggs Market in the BRICS region within The Food market is experiencing subdued growth due to various factors such as changing consumer preferences, increasing competition, and fluctuating prices. Despite this, the market is still expected to grow slowly in the coming years.
Customer preferences: As consumers become more health-conscious, there is a rising demand for organic and free-range eggs in the Dairy Products & Eggs Market within The Food market. This trend is fueled by consumers' desire for ethically-sourced and environmentally-friendly products. Additionally, there is a growing preference for plant-based alternatives to traditional dairy products, leading to the introduction of vegan egg substitutes in the market. These shifts reflect a changing consumer mindset towards sustainable and healthier food choices.
Trends in the market: In the BRICS market, there is a growing trend of incorporating plant-based alternatives in the Eggs Market of the Dairy Products & Eggs Market within The Food market. This trend is driven by increasing consumer demand for healthier and more sustainable food options. Additionally, there is a shift towards using technology and data analytics in the production process, leading to improved efficiency and cost savings. These developments have significant implications for industry stakeholders, such as the need for product diversification and investments in technology to stay competitive in the market.
Local special circumstances: In China, the growing demand for protein-rich diets has played a significant role in the growth of the Eggs Market within the Dairy Products & Eggs Market. The country's large population and changing dietary preferences have led to an increase in egg consumption, creating a lucrative market for egg producers. Additionally, China's strict regulations on food safety and quality have resulted in a high demand for organic and free-range eggs, further driving market growth.
Underlying macroeconomic factors: The Eggs Market of the Dairy Products & Eggs Market within The Food market is also influenced by macroeconomic factors such as global economic trends, national economic health, fiscal policies, and financial indicators. For instance, countries with stable economic conditions and favorable fiscal policies tend to experience higher demand for dairy and eggs, as consumers have more disposable income to spend on food. Additionally, fluctuations in exchange rates and trade policies can impact the production and prices of dairy products and eggs, as these markets are heavily reliant on imports and exports. Moreover, shifts in consumer preferences towards healthier and sustainable food options have also influenced the demand for organic and free-range eggs, as well as the adoption of new technologies in the production and distribution of dairy and eggs.
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.
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