Key regions: India, United States, Russia, South Korea, Japan
The Eggs Market in Canada is facing subdued growth due to factors such as changing consumer preferences and increasing competition from alternative protein sources. Despite this, the convenience and health benefits of eggs are driving moderate growth in the overall Dairy Products & Eggs Market in Canada.
Customer preferences: The demand for organic and free-range eggs is on the rise in Canada, driven by a growing awareness of the health benefits and ethical considerations of these products. Millennials and Gen Z are leading the charge, with their emphasis on sustainability and animal welfare. This trend is also fueled by the increasing popularity of plant-based diets, as consumers seek alternatives to traditional animal products. As a result, the eggs market is seeing a shift towards more environmentally-friendly and socially responsible egg production methods.
Trends in the market: In Canada, the Eggs Market of the Dairy Products & Eggs Market within The Food market is experiencing a shift towards organic and free-range eggs, driven by consumer demand for more ethical and sustainable food options. This trend is expected to continue as consumers become more health-conscious and environmentally aware. Additionally, there is a growing trend of incorporating eggs into plant-based diets, creating opportunities for vegetarian and vegan egg substitutes. These trends have significant implications for industry stakeholders, who must adapt to changing consumer preferences and invest in innovative production methods to remain competitive in the market.
Local special circumstances: In Canada, the Eggs Market of the Dairy Products & Eggs Market within The Food market is heavily influenced by its geographical location. Due to the country's vast size and diverse climate, different regions produce varying quantities and types of eggs. This results in a wide range of products available to consumers. Additionally, Canada's strict regulations for egg production and labeling ensure high-quality and safe products for consumers. The country's cultural preference for locally-sourced and sustainable food also contributes to the market's dynamics, with many Canadian consumers opting for eggs from small, family-owned farms.
Underlying macroeconomic factors: The Eggs Market of the Dairy Products & Eggs Market within The Food market in Canada is heavily influenced by macroeconomic factors such as global economic trends, national economic health, fiscal policies, and financial indicators. Canada has a strong and stable economy, which provides a favorable environment for the growth of the Eggs Market. Additionally, the country's growing population and increasing disposable income have led to a higher demand for dairy products and eggs, driving market growth. Furthermore, government policies and initiatives to promote healthy eating habits and support sustainable agriculture practices have also positively impacted the Eggs Market in Canada.
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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