Eggs - Eastern Asia | Statista Market Forecast

The Eggs Market in Eastern Asia has seen subdued growth due to factors such as changing dietary habits and increasing health consciousness among consumers. Despite this, the convenience of online egg purchases has contributed to its steady growth within the larger Food Market.

Customer preferences: In Eastern Asia, the Eggs Market of the Dairy Products & Eggs Market within The Food market has seen a rise in demand for organic and free-range eggs, as consumers prioritize health and environmental sustainability. Additionally, there is a growing interest in alternative egg products such as plant-based or lab-grown options, driven by the rise of vegetarian and flexitarian diets. This trend is also influenced by cultural beliefs and traditions, as some Eastern Asian cultures place a strong emphasis on consuming plant-based foods for health and spiritual reasons.

Trends in the market: In Eastern Asia, the Eggs Market of the Dairy Products & Eggs Market within The Food market is experiencing a surge in demand for organic and free-range eggs. This trend is driven by increasing health consciousness and concerns over animal welfare. As a result, major players in the industry are investing in sustainable and ethical production methods. This trajectory is expected to continue, with consumers willing to pay a premium for these products. Industry stakeholders must adapt to these changing preferences and invest in sustainable practices to remain competitive in the market.

Local special circumstances: In Eastern Asia, the Eggs Market of the Dairy Products & Eggs Market in The Food market is heavily influenced by the region's cultural preference for eggs as a staple food. This has resulted in a high demand for various egg-based products, such as egg noodles and egg custards. Additionally, strict regulations on food safety and quality have led to advanced production techniques and increased consumer trust in the market. Furthermore, the region's growing middle class and changing dietary habits have also contributed to the steady growth of the Eggs Market.

Underlying macroeconomic factors: The Eggs Market of the Dairy Products & Eggs Market within The Food market is heavily influenced by macroeconomic factors in Eastern Asia. The region's economic growth, increasing disposable income, and rapid urbanization have led to a significant rise in demand for dairy products and eggs. Additionally, favorable government policies and investments in agriculture and food processing infrastructure have further boosted market growth. Moreover, the growing health consciousness among consumers and the shift towards healthier food options are also driving the demand for dairy products and eggs in Eastern Asia.

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.