Global Incubator (egg) market is projected to reach USD 85.79 million by 2022 QYRESEARCH FOCUS ON MARKET SURVEY AND RESEARCH
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QYResearch • The global Incubator (egg) market for poultry incubator has grown placidly in the last few years. In terms of value, the global market is projected to reach USD 85.79 million by 2022, at a CAGR of around 5% from 2016 to 2022. Factors such as increasing consumption of processed food, the governments support for the use of equipment in developing countries, and the demand for food safety drives the poultry incubator market.
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• The global market, based on equipment type, is segmented into Small (0-1000eggs), Medium (1000-6000eggs), Large (More than 6000eggs). Small (0-1000eggs) accounted for the largest market share and the large segment is projected to grow at the highest CAGR during the forecast period since it is a pre-requisite in every automated poultry processing plant. • The poultry incubator market, based on poultry type, is segmented into chicken, turkey, duck, and others (goose and guineafowl). The chicken segment is projected to grow at the highest rate from 2015 to 2020, followed by duck. Religion plays a vital role in driving the chicken meat market, as some religions restrict the consumption of pork consumption, which is enforced in some regions around the world; however, there is no such restriction on chicken meat consumption.
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• The raw materials required for manufacturing poultry incubator equipment mainly includes steel, composite materials, and plastic among others, the cost of which is gradually increasing. The higher cost of manufacturing acts as a restraint for this market. Rising costs of power and energy required for the operation of poultry incubator is also a key restraint for the poultry processing equipment market.
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