Eggs - Mongolia | Statista Market Forecast

In Mongolia, the Eggs Market within The Food market is currently experiencing subdued growth due to various factors such as declining consumer spending, limited availability of resources, and slow adoption of digital technologies. Despite these challenges, the Eggs Market continues to offer convenient and healthy options for consumers.

Customer preferences: Consumer preferences in Mongolia's Eggs Market are shifting towards more sustainable and ethically sourced eggs. This trend is driven by growing awareness and concern for animal welfare and environmental sustainability. With a significant portion of the population being Buddhist, there is a cultural emphasis on compassion and respect for all living beings. This has led to a rise in demand for cage-free and free-range eggs, as well as organic and locally produced options. Additionally, with the growing middle class and urbanization, there is a shift towards healthier and more natural food choices, further driving the demand for these types of eggs.

Trends in the market: In Mongolia, the Eggs Market within the Dairy Products & Eggs Market is experiencing a trend towards organic and free-range eggs. This is driven by increasing consumer demand for natural and healthier food options, as well as government initiatives promoting sustainable agriculture. This trend is expected to continue as more consumers become aware of the benefits of organic eggs and seek out ethically sourced products. For industry stakeholders, this presents opportunities for product differentiation and partnerships with local farmers. However, it also poses challenges in terms of supply chain management and meeting the demand for affordable organic eggs.

Local special circumstances: In Mongolia, the Eggs Market of the Dairy Products & Eggs Market within The Food market is heavily influenced by the nomadic lifestyle of the local population. As a result, there is a high demand for portable and protein-rich food options, making eggs a popular choice. Additionally, the harsh and extreme climate in Mongolia makes egg production and transportation challenging, leading to a limited supply and higher prices compared to other markets. The traditional Mongolian diet also includes a significant amount of dairy products, making the Dairy Products & Eggs Market a crucial part of the overall Food Market in the country. The cultural significance of dairy and eggs in Mongolian cuisine further drives the demand for these products in the market.

Underlying macroeconomic factors: The Eggs Market of the Dairy Products & Eggs Market within The Food market is heavily influenced by macroeconomic factors such as global economic trends, national economic health, and fiscal policies. In Mongolia, for example, the dairy industry has been a major contributor to the country's economic growth, with the government implementing policies to promote dairy production and exports. Additionally, the rise of health-conscious consumers and the increasing demand for protein-rich foods are driving the growth of the eggs market in Mongolia. However, economic challenges such as inflation and fluctuating exchange rates can impact the market's performance. Other factors such as trade agreements, consumer preferences, and supply chain disruptions also play a significant role in shaping the eggs market in Mongolia.

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.