31 March 2024 — Eggoz, a homegrown egg startup, is targeting profitability by the end of 2024, with plans for expansion and market penetration.
Key Points:
- Profitability Goal: Eggoz aims to achieve profitability by the end of 2024, expecting to break even in the next 8-10 months.
- Current Operations: The startup operates primarily in Delhi-NCR and several other cities, with a focus on online sales accounting for a significant portion of total sales.
- Expansion Plans: Eggoz plans to grow 2-3 times in the upcoming financial year and intends to penetrate deeper into current markets while also expanding to new cities.
- Product Differentiation: Eggoz emphasizes the nutritional value, hygiene, and chemical-free nature of its eggs, with a focus on one-day delivery.
- Market Trends: The concept of Eggitarianism is gaining traction, with an increasing recognition of the need for protein in diets, leading to a rise in egg consumption.
- Market Size and Potential: India’s egg market size is significant and growing, presenting opportunities for Eggoz to capture a larger market share.
- Innovations and Offerings: Eggoz has launched new products like egg momos, egg nuggets, and egg muffins, showcasing its innovation and diversification beyond traditional egg sales.
- Challenges and Opportunities: The egg industry faces challenges such as cost fluctuations and fragmentation, but Eggoz sees an opportunity to establish itself as a prominent player in the market.
Conclusion:
Eggoz’s strategy to achieve profitability by 2024-end, coupled with its focus on innovation, market expansion, and product differentiation, positions it well in the competitive egg industry, tapping into the growing demand for nutritious and high-quality eggs.
