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1、By Kevin Chen2014.5ANALYSIS ON HEN EGGS INDUSTRY1. Overview Of The Hen Eggs Market1. 1. The production of hen eggs is increasing at a decreasing rate. In the latest decade, its 24.05%, and in previous four decades, the growth rates are all above 30%, with the highest of 45.23%. 2. 2. In 2012, the wo
2、rldwide production of hen eggs is 66.37 million tones. The CAGR of the recent 10 years is only 2.17%. With the increase of the world population slowing down, the increase of hen eggs production is limited, holding everything else constant. 1,474.27 6,637.25 40.97%32.46%33.83%45.23%24.05%20%25%30%35%
3、40%45%50%01,0002,0003,0004,0005,0006,0007,000196219721982199220022012Global Hen Eggs Production(10,000 Tones)Growth Rate of a Decade5,433.88 6,637.25 01,0002,0003,0004,0005,0006,0007,0002003 2004 2005 2006 2007 2008 2009 2010 2011 2012Global Hen Eggs Production(10,000 Tones)GLOBAL HEN EGGS PRODUCTIO
4、N AND GROWTH RATEGLOBAL HEN EGGS PRODUCTION AND GROWTH RATESOURCE: FOOD AND AGRICULTURE ORGANIZATION OF UNITED STATES DATABASE1. 1.The production of hen eggs in China is increasing from 19.66 million tones in 2002 to 24.58 million tones in 2012. The CAGR is 2.26%. 2. 2. The production of hen eggs in
5、 China accounts for around 37% of global production, while that in America accounts only for around 9%, and both proportion are stable across the 10 years. 1,965.89 2,457.61 05001,0001,5002,0002,5003,0002002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012Production of Hen Eggs in China(10,000 Tone
6、s)0%5%10%15%20%25%30%35%40%20022003200420052006200720082009201020112012ChinaAmerica1. Overview Of The Hen Eggs MarketCHINAS PRODUCTION OF HEN EGGSPROPORTION OF HEN EGG PRODUCTION TO THE WORLD Source: WIND1. 1.The production of hen eggs per capita of China is slightly higher than that of America in r
7、ecent years, and both of them are much higher than that of the world, which is pretty stable around 8.5 kg per capita. 2. 2. The stable production and consumption of eggs per capita of America, China and the world indicates that the increase of production of hen eggs in China cant be very high, the
8、market size would be increasing slowly with the slow population increase, holding everything else constant.15.62 15.77 16.09 15.93 16.52 17.54 17.71 17.78 17.92 18.15 17.82 18.03 18.02 18.18 17.86 17.49 17.41 17.47 17.37 17.34 8.56 8.64 8.71 8.80 8.94 9.17 9.23 9.32 9.36 9.42 68101214161820200320042
9、0052006200720082009201020112012ChinaAmericaWorld1. Overview Of The Hen Eggs MarketANNUAL PRODUCTION OF HEN EGGS PER CAPITA(kg)7.69 9.20 11.21 10.56 11.19 10.35 10.40 10.41 10.33 10.74 10.57 10.00 10.12 10.52 2.41 3.22 4.77 4.66 4.81 4.59 4.71 5.00 4.72 5.43 5.32 5.12 5.40 5.87 0246810121990 1995 200
10、0 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012Consumption of Fresh Egg by Urban HouseholdsConsumotion of Fresh Egg and Egg Products by Rural HouseholdsANNUAL CONSUMPTION OF FRESH EGGS PER CAPITA IN CHINA(kg)Source: CHINA RURAL STATISTICAL YEARBOOK, WIND 2. The Chain of The Hen Egg Industry
11、 in China1. 1. For the market of Chicken Feed, Progenitor Egg Breeding Chicken，Parental Egg Breeding Chicken, the Market Concentration Rate is high, and its hard for new entrant. 2. 2. For rest of the market in the industry, the MCR is low, so its highly competitive and integration is needed.Chicken
12、 Feed Number of factories: Around 13,000 CR10:34.6%Progenitor Egg Breeding Chicken Number of factories: Around 150 CR10:87%Parental Egg Breeding Chicken Number of factories: Around 2,000 CR10:24%Layer Hen Cultivation Number of factories: Around 450,000 CR10: less than 2%Egg Distribution and Retailin
13、g Number of factories: Around 300,000 CR10:less than 2%Primary and Deep Processing Number of factories: Around 1,500 CR10: less than 2%Source: Analysis on the Chain of Hen Egg Industry in China,20133.1 Growth Driver AnalysisIncome1. 1. From 1990 to 2000, there is a sharp increase in the consumption
14、of hen eggs with income increasing for both urban and rural households. From 2000 to 2012, income increase is even faster, but the consumption of hen eggs barely increases. Income effect for hen eggs is limited. 2 2. In 2009, for example, annual income per capita of rural households equals that of u
15、rban households in 1997, but the consumption of hen eggs of rural in 2009 is 5.32kg, while that of urban in 1997 is about 10 kg. The consumption gap between rural and urban households is structural not simply because of income. ANNUAL CONSUMPTION OF FRESH EGGS PER CAPITA IN CHINA(kg)7.69 9.20 11.21
16、10.56 11.19 10.35 10.40 10.41 10.33 10.74 10.57 10.00 10.12 10.52 2.41 3.22 4.77 4.66 4.81 4.59 4.71 5.00 4.72 5.43 5.32 5.12 5.40 5.87 0246810121990 1995 2000 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012Consumption of Fresh Egg by Urban HouseholdsConsumotion of Fresh Egg and Egg Products by Rural Households6,977.29 23,979.20 05,00010,00015,00020,00025,00030,0001981198319851987198919911993199519971999200120032005200720092011Rura
