CLEVELAND, Sept. 9, 2020 /PRNewswire/ — US demand for egg cartons is forecast to increase 3.6% per year to $612 million (equivalent to 4.7 billion units) in 2024, according to a new Freedonia Group analysis. Sales growth will be driven by:
- rising consumption of eggs sold at grocery stores, supermarkets, and other retail outlets, especially in the near term as shoppers boost at-home baking
- increasing demand for eggs among consumers looking for healthy ways to increase protein
- expanding use of higher cost cartons, particularly those with premium graphic capabilities or sustainability advantages
COVID Spurs Egg Demand Surge & Supply Chain Disruptions
Demand for eggs as well as cartons spiked amid the COVID-19 pandemic, as homebound consumers turned to baking to quell boredom and generally began cooking more at home due to voluntary or state-mandated restrictions on public activities such as going out to eat:
- At the pandemic’s onset in March, the egg industry experienced supply chain disruptions as producers faced a huge drop off in demand from shut-down foodservice outlets and US consumers changed their shopping habits.
- Shoppers significantly increased purchases of, and began hoarding, essential items like eggs as part of “crisis-induced shopping”.
- Consequently, US food retailers faced an egg shortage and egg prices began to spike, leading a number of retail outlets began instituting rationing policies to help increase availability.
- Additionally, as egg producers shifted their supply from foodservice outlets to supermarkets, significant pressure was exerted on the inventory of retail egg cartons, leading to a shortage.
Nonetheless, tightness in egg carton supplies has begun to ease as fears of egg shortages have relaxed and as panic buying by consumers has tapered off. Additionally, the FDA temporarily relaxed a number of regulations to support supply levels, including certain packaging and labeling requirements. Demand for eggs and egg cartons is expected to return to a more stable pattern over the long term.
Looking for More?
Egg Cartons is now available from The Freedonia Group. This study analyzes the US market for egg cartons by material (expanded polystyrene foam, molded pulp, rigid plastic). Historical data (2009, 2014, and 2019) and forecasts for 2024 are presented for egg cartons in current US dollars (including inflation) and in units.
About The Freedonia Group – The Freedonia Group, a division of MarketResearch.com, is a leading international industrial research company publishing more than 100 studies annually. Since 1985 we have provided research to customers ranging in size from global conglomerates to one-person consulting firms. More than 90% of the industrial companies in the Fortune 500 use Freedonia Group research to help with their strategic planning. Each study includes product and market analyses and forecasts, in-depth discussions of important industry trends, and market share information. Studies can be purchased at www.freedoniagroup.com and are also available on www.marketresearch.com and www.profound.com.
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