HONG KONG, Nov. 16, 2021 /PRNewswire/ -- A new market study released by NGO Lever槓桿 shows that the demand for cage-free eggs in Hong Kong will increase over current levels by 70 million eggs annually by 2025, and by an estimated 140 million eggs annually by 2028. More than 60 major food and hospitality companies in Hong Kong have pledged to purchase exclusively cage-free eggs, including Pizza Hut, KFC, CitySuper, Pret a Manger, Nestlé, InterContinental Hotels, Langham Hotels, Mandarin Oriental Hotels, Disneyland Hotels, Four Seasons, Starbucks and Shake Shack.
"Cage-free eggs are a healthful addition to any diet due to the higher nutritional value of eggs produced by cage-free and free-range hens, as proven in numerous studies," said the Hong Kong Imported Food & Beverage Association in a statement released by its chairman. Cage-free egg demand is rising worldwide, as cage-free production significantly lowers the risk of salmonella contamination and improves food quality and animal welfare.
"The cage-free eggs market in the region has witnessed substantial growth," said Ms. Angela Wong, Program Manager of Lever 槓桿, "Hong Kong is following in the footsteps of egg markets such as Europe, North America, Australia, South Korea, and Brazil, which are rapidly phasing out caged eggs." Market demand for cage-free eggs will increase to 43 million from the retail industry, 5.5 million from restaurants and cafés, 1.5 million from the FMCG industry, 3 million from the food service industry, and 17 million from the hospitality industry by 2025.
"I am impressed with the awareness that is being driven in Hong Kong, resulting in a growing demand for cage-free eggs from the food and hospitality sectors," said Chris Brown, Founder and Director of ReThink HK, a leading sustainable development expo in Hong Kong. HKEX has mandated that Hong Kong listed-companied will need to comply with ESG requirements from 2020. This includes animal welfare and public health issues, which have become important sources of investment consideration.
A recent survey released by China food media agency Foodtalks found that over 75% of Chinese consumers reported they would be more likely to patronize a food brand if it committed to using only cage-free eggs. In mainland China, demand for cage-free eggs is set to increase by 1.5 billion eggs annually by 2025 in response to existing corporate commitments.
Hong Kong Cage-Free Egg Market Report: https://tinyurl.com/HKeggdemand
Contact: Catherine Lok, email@example.com
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