Eggs - NAFTA | Statista Market Forecast

The Eggs Market within the Dairy Products & Eggs Market in NAFTA has seen minimal growth due to factors such as fluctuating consumer demand, increasing competition, and changing dietary preferences. Despite this, the market continues to grow at a steady pace, driven by the convenience and health benefits offered by eggs.

Customer preferences: As consumer preferences continue to shift towards healthier and more sustainable food choices, the Eggs Market of the Dairy Products & Eggs Market in NAFTA has seen a rise in demand for organic and cage-free eggs. This trend is driven by a growing awareness of animal welfare and environmental concerns, as well as a preference for locally sourced and ethically produced food products. Additionally, there has been an increase in demand for alternative egg products, such as plant-based and vegan options, as consumers become more health-conscious and environmentally conscious. This shift towards more ethical and sustainable food choices is expected to continue in the coming years, shaping the future of the Eggs Market in the Dairy Products & Eggs Market within The Food market industry.

Trends in the market: In NAFTA, the Eggs Market of the Dairy Products & Eggs Market within The Food market is experiencing a rise in organic and specialty egg production. This trend is driven by consumer demand for healthier and ethically produced food options. Additionally, there is an increasing focus on sustainability in egg production, with companies implementing environmentally friendly practices. These trends have significant implications for industry stakeholders, as they must adapt to changing consumer preferences and invest in sustainable production methods to remain competitive.

Local special circumstances: In the Eggs Market of the Dairy Products & Eggs Market within The Food market, unique local factors play a significant role in shaping market dynamics. For instance, in Mexico, the market is heavily influenced by the country's large egg production industry and the strong demand for eggs in traditional dishes. In Canada, strict regulations on egg production and labeling have resulted in a premium market for organic and free-range eggs. Such factors highlight the importance of considering local factors when operating in the NAFTA region.

Underlying macroeconomic factors: The growth of the Eggs Market within the Dairy Products & Eggs Market of The Food market is heavily influenced by macroeconomic factors such as consumer spending, trade agreements, and government subsidies. Countries with high consumer spending and favorable trade agreements, such as those included in NAFTA, are experiencing faster market growth compared to regions with economic challenges and limited trade agreements. Additionally, government subsidies for the dairy industry can greatly impact the production and prices of eggs, ultimately affecting market performance.

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.