Egg Incubator Market
Egg Incubator Market Analysis By Incubator Type (Chicken, Duck, Goose, Turkey), By Application (Poultry farms, Poultry Breeding Companies), By Power Source (Renewable, Non-renewable) & Regions - Global Market Insights 2022 to 2032.
Analysis of Egg Incubator Market Covering 30 + Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Egg Incubator Market Outlook
Eggs are a considerably cheaper source of protein when compared to meat options. The content of heart-healthy unsaturated fats in eggs is enriched in vitamin B12, B6, and vitamin D. The rising health awareness among people is directing their diet preferences in favor of protein-rich food options.
This shift in consumer preferences is expected to propel the demand for eggs in the forecast period which is also likely to flourish the demand for egg incubators.
The demand for chicken increases further with some religions prohibiting the consumption of beef and pork. Collectively, the factors that influence the demand for chicken are the ever-rising population, disposable incomes, price economics, and improving consumer dietary preferences.
This will create ample opportunities for egg incubator manufacturers to develop sustainable products, driving growth in demand.
Why Egg Incubator is demanded?
Avian incubation is a technique that keeps eggs warm in an artificial environment. An incubator is used for the artificial hatching of eggs, it lets the fetus grow inside without the presence of the mother to provide the conditions for growth and hatching. An ideal egg incubator should be able to offer the perfect growth atmosphere for an egg by regulating the temperature and humidity while turning the eggs when needed.
The growing population and increasing consumption of processed food along with government initiatives promoting the consumption of protein-rich diets are expected to increase the demand for eggs. Increasing the hen population would be required to meet the growing demand for eggs.
The ability of an incubator to improve the hatchability of eggs further assists in increasing the hen population, thereby pushing the demand for automatic incubators. At a global level, the market growth for poultry consumption will be in-line with the global GDP in the long-term forecast. The increasing disposable incomes and lifestyle standards are further flourishing this industry.
This will push the need for more hens, which will indirectly influence the demand for egg incubators. A number of manufacturers are shifting towards renewable sources of energy like the use of a solar-powered egg incubator. Lifeway Solar Devices Pvt. Ltd., an India-based company has developed a solar-based incubator in collaboration with the Indian Institutes of Technology, Madras.
The equipment runs on solar energy and has an efficiency of around 90% for hatching chicken eggs. Such innovations for sustainable products will prevail in the egg incubator market.
What restraints this market?
The high cost of incubators is a major factor restraining the growth of this market. The higher cost of machines is due to the costly raw material required for egg incubators. Additionally, the energy cost is another hampering factor to this market in the forecast period. Poultry farming has to face other challenges associated with high vaccination costs, and veterinary care services. The non-availability of credit is another issue affecting this industry.
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Segment wise Insights
Chicken egg incubators are in majorly demand due to the rise in consumer demand for eggs and chicken meat. The segment is anticipated to gain the fastest CAGR in the forecast period owing to a rise in health awareness and the inclusion of a protein-rich diet by people.
Poultry farms are a major application segment for this industry. However, poultry breeding companies are anticipated to gain moderate to fast CAGR in the forecast years.
Based on the power source renewable energy options are likely to gain attention in forecast years owing to manufacturers’ focus on eco-friendly production and cost-effectiveness. With the renewable option, companies can decrease their carbon emission and aid in sustainability development.
Worldwide poultry meat production and consumption are on a rise and are highly concentrated and diverse. Chicken is produced globally, whereas turkey is majorly produced in North America and Europe. On the contrary, duck and goose are majorly produced in Asia.
This creates a diversified demand for egg incubators with varied capacities. During the long-term forecast, the proportion of the world’s poultry meat production in developing economies is set to increase by an average of 3.6% per year until 2025. Rising disposable incomes, the divergence of diets, and the growing population are major growth drivers.
The U.S., China, and Brazil are the major chicken meat producers, consumers, and traders globally. While in terms of egg production China, U.S. and India are the major producers. According to the FAO, the current global per-capita poultry meat consumption is around 15-16kgs. Chicken meat is comparatively cheaper as compared to other meat counterparts making it the most consumed meat globally.
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The industry is dominated by regional, local and international players. The market is fairly consolidated and has high-intensity competition among companies. Rapid technological advancement is creating a substitution threat for incubators. These players are focusing on the production of solar-based incubators.
Indian Institute of Technology, Madras has developed solar based egg incubator likely to set new trends in the market. With an emphasis on sustainability, companies are investing in research and innovation in terms of renewable options. The needed equipment investment at the initial level might be high for start-ups which is a key deterrent factor for new entrants in this market.
By Incubator type
- poultry farms
- poultry breeding companies
By Power Source
- North America
- Latin America
- Asia Pacific ex
- Japan (APEJ)
- Middle East & Africa (MEA).
- FAQs -
The egg incubator market is expected to grow at a CAGR of 6% during the forecast period.
Demand for egg incubators is predicted to rise due to population growth, processed food consumption, and government programs encouraging protein-rich diets.
North America is expected to be the most lucrative region for the growth of egg incubator industry.