Egg Incubator Market Share, Size, Trends, Industry Analysis Report, By Incubator Type (Chicken, Duck, Goose, Turkey, and Others); By Application; By Power Source; By Region; Segment Forecast, 2024- 2032
- Published Date:Mar-2024
- Pages: 118
- Format: PDF
- Report ID: PM4679
- Base Year: 2023
- Historical Data: 2019 – 2022
Report Outlook
Global egg incubator market size was valued at USD 88.67 million in 2023. The market is anticipated to grow from USD 94.15 million in 2024 to USD 168.58 million by 2032, exhibiting the CAGR of 7.6% during the forecast period.
Market Overview
The rising health awareness among people worldwide that directs them towards protein-rich food products and consideration of eggs as a cheaper source of protein compared to other meat sources is likely to propel the demand for egg incubators. Companies are increasingly investing in research & development activities for the creation of incubators equipped with advanced sensors and other innovative features, which also bode well for the market’s growth.
- For instance, in March 2023, SPACE-F announced the launch of Batch 4 of its incubator and accelerator program in partnership with the Thai Union Group PCL, the National Innovation Agency, Mahidol University, Deloitte England, and Thai Beverage PCL.
To Understand More About this Research:Request a Free Sample Report
Furthermore, the emergence of digital incubators has been transforming the incubation industry, as they offer precise temperature control and humidity control and also ensure the optimal conditions for embryo development. Digital incubators are often equipped with advanced sensors that allow for precise adjustments and constantly monitor the humidity as well as temperature levels with greater accuracy, which is significantly important in several critical stages of incubation.
Growth Factors
Rising consumption of eggs to foster market growth
As the global population continues to rise over the years, the consumption of eggs and other meat products is increasing rapidly. Hence, the adoption of egg incubators is gaining traction as they play a crucial role in boosting poultry production efficiency by ensuring higher hatch rates. For instance, according to our findings, the average person in Japan consumes approx. 320 eggs every year, and the average person in Paraguay has 310 eggs each year.
Rapid urbanization and changing consumer preferences also drive the market’s growth
The exponential rise in urbanization, especially in developing nations, and changes in consumer consumption preferences towards organically sourced food products and processed food have fueled the demand for poultry products. The urban population has limited cooking time, resulting in a higher need for ready-to-eat and quick food products that take less time to prepare. For instance, according to the World Bank, currently, more than 56% of the world’s population lives in cities or urban areas, and the number is projected to increase significantly and double its current size by 2050; at that point, nearly 7 in every ten people will be living in cities.
Restraining Factors
High initial investment and limited awareness about incubators restrain market growth
The high initial investment required for purchasing egg-advanced incubators and the lack of awareness among users about the potential benefits of egg incubators in improving their poultry production efficiency are among the factors hindering global egg incubator market growth.
Report Segmentation
The market is primarily segmented based on incubator type, application, power source, and region.
|
By Incubator Type |
By Application |
By Power Source |
By Region |
|
|
|
|
To Understand the Scope of this Report:Speak to Analyst
By Product Type Insights
Chicken segment accounted for the largest market share in 2023
The chicken segment accounted for the largest market share. Segment’s dominance is attributed to the constantly rising demand for chicken eggs as they offer a high-protein food source at a very cheap price. Also, the product is gaining huge popularity among chicken poultry farmers by providing them with a controlled environment for egg hatching those results in healthier chicks and better-quality eggs.
Furthermore, a rising number of favorable government initiatives and programs focused on promoting poultry farming and improving food quality & security, further driving the adoption of chicken egg incubators. For instance, in November 2023, CII unveiled its vision for the 2047 poultry sector and asked the government to bring favorable policies to incentivize investments, streamline regulatory procedures, and promote research & development.
By Application Insights
Poultry farms segment held the maximum market revenue in 2023
The poultry farms segment held the majority of market revenue. This dominance is due to numerous benefits associated with egg incubators for poultry farms, such as greater flexibility in managing their production schedules and scaling their operations to meet rising demands from the market. In addition, egg incubators also help poultry farmers save on their expenses by minimizing egg waste and the need for several natural brooding methods.
By Power Source Insights
Renewable segment is expected to witness the highest market growth
The renewable power source segment is expected to grow at the highest growth rate. This growth is accelerated by the numerous advantages that make them eco-friendly and efficient solutions for poultry farmers. Several renewable egg incubators, like solar-powered incubators, are specially designed to boost production by 200% for small poultry farmers and also improve hatching efficiency by 40 to 95%.
Renewable energy sources, including solar, wind, and biomass, also offer long-term cost benefits or saving compared to traditional power sources while reducing carbon emissions and dependence on fossil fuels for energy, thereby contributing to environmental sustainability as well.
Regional Insights
North America region dominated the global market in 2023
North America region dominated the global market. The region’s dominance is attributed to the presence of some of the leading egg-producing and consuming countries and the constant expansion and modernization of the poultry sector in the region. Moreover, increased awareness of environmental sustainability results in greater adoption of eco-friendly and energy-efficient incubation technologies; thereby, companies are extensively focusing on the development of new egg incubators complying with environmental standards. For instance, as per a report by United Egg Producers, the total egg production in the United States totaled around 92.6 billion, and the country had 308 million commercial laying hens in 2022.
Asia Pacific will grow rapidly, owing to rising poultry production and a shift towards consumer preferences towards processed and convenient food products because of changing lifestyles and rising urbanization. For instance, as per a report by the Urbanet, the urban population in India stands at 461 million, and the number is expected to increase by 2.3 percent every year.
Key Market Players & Competitive Insights
Strategic partnerships to drive the competition
The egg incubator market is moderately fragmented in nature and is anticipated to witness huge competition due to several players' presence. Companies are constantly looking to expand their market reach and customer base with the help of growth strategies including collaborations, partnerships, and new product launches. Also, companies are competing on factors like integrating advanced features into incubators and improving their durability & reliability.
Some of the major players operating in the global market include:
- Brinsea Products Inc. (US)
- FIEM srl (Italy)
- GQF Manufacturing Company Inc. (US)
- ProCon & Grumbach automatic systems GmbH & Ko.KG (Germany)
- Jamesway Chick Master Incubator (Canada)
- Guangzhou Janoel Co., Ltd. (China)
- MS Broedmachine (Netherlands)
- Petersime NV (Belgium)
- Rcom Incubators (US)
- Surehatch Egg Incubators and Hatchers (South Africa)
- Wonegg (China)
Recent Developments in the Industry
- In April 2023, Hendrix Genetics, in partnership with Orbem, introduced Orbem’s Genus Focus system at the company’s laying hen hatchery in France. The new system is an MRI-based, non-invasive, and high-throughput solution for poultry eggs of all types of breeds. This installation can analyze 250 eggs on a daily basis when incubating 1-day-old chicks.
- In August 2023, AquaGen announced the opening of its new biosecure salmon eggs facility in Norway. The new facility includes an egg incubation department, an egg harvesting line, a new administration area, and new technical facilities.
Report Coverage
The egg incubator market report emphasizes on key regions across the globe to provide better understanding of the product to the users. Also, the report provides market insights into recent developments, trends and analyzes the technologies that are gaining traction around the globe. Furthermore, the report covers in-depth qualitative analysis pertaining to various paradigm shifts associated with the transformation of these solutions.
The report provides detailed analysis of the market while focusing on various key aspects such as competitive analysis, incubator type, application, power source, and their futuristic growth opportunities.
Egg Incubator Market Report Scope
|
Report Attributes |
Details |
|
Market size value in 2024 |
USD 94.15 million |
|
Revenue forecast in 2032 |
USD 168.58 million |
|
CAGR |
7.6% from 2024 – 2032 |
|
Base year |
2023 |
|
Historical data |
2019 – 2022 |
|
Forecast period |
2024 – 2032 |
|
Quantitative units |
Revenue in USD million and CAGR from 2024 to 2032 |
|
Segments covered |
|
|
Regional scope |
|
|
Competitive Landscape |
|
|
Report Format |
|
|
Customization |
Report customization as per your requirements with respect to countries, region and segmentation. |
FAQ's
key companies in Egg Incubator Market are Brinsea Products Inc., FIEM srl, GQF Manufacturing Company Inc
Egg incubator market exhibiting the CAGR of 7.6% during the forecast period.
The Egg Incubator Market report covering key segments are incubator type, application, power source, and region.
key driving factors in Egg Incubator Market are rising consumption of eggs to foster market growth
The global egg incubator market size is expected to reach USD 168.58 million by 2032
© 2024 Polaris Market Research and Consulting. All rights reserved
