Selected research
Market Structure
Global Shell Eggs Market by Size, by Type, by Application, by Region, History and Forecast 2021-2032
Market perspective
The global Shell Eggs market is projected to grow from US$ million in 2026 to US$ million by 2032, implying a CAGR of % over 2026-2032.
The US & Canada market for Shell Eggs is projected to increase from US$ million in 2026 to US$ million by 2032, at a CAGR of % over 2026-2032.
The Europe market for Shell Eggs is projected to increase from US$ million in 2026 to US$ million by 2032, at a CAGR of % over 2026-2032.
Read the full market overview
The Asia Pacific market for Shell Eggs is projected to increase from US$ million in 2026 to US$ million by 2032, at a CAGR of % over 2026-2032.
The China market for Shell Eggs is projected to increase from US$ million in 2026 to US$ million by 2032, at a CAGR of % over 2026-2032.
Leading global manufacturers of Shell Eggs include Hanwei-Group, Shanxi Dajiang Agriculture, Cal-Maine Foods, Proteina Animal SA (PROAN), Rose Acre Farms, Charoen Pokphand Group, ISE Foods, Versova Holdings and Arab Company for Livestock Development (ACOLID), among others. In 2025, the top three vendors together accounted for approximately % of global revenue.
This report provides an overview of the global Shell Eggs market in terms of sales, revenue, and price, analyzing global market trends using historical revenue and sales data for 2021-2025, estimates for 2026, and projected CAGRs through 2032.
The study covers key producers of Shell Eggs and sales in major regions and countries, assesses future market potential, and highlights priority regions and countries for segmenting the market into sub-sectors, with country-specific market value data for the U.S., Canada, Mexico, Brazil, China, Japan, South Korea, Southeast Asia, India, Germany, the U.K., Italy, the Middle East, Africa, and other countries.
The report also presents Shell Eggs sales, revenue, market share, and industry ranking for the main manufacturers for 2021-2026, identifies the major stakeholders in the global market, and analyzes their competitive landscape and market positioning based on recent developments and segmental revenues.
In addition, the report analyzes segment data by Type and Application—covering sales, revenue, and price—for 2021-2032, and evaluates and forecasts the Shell Eggs market size, projected growth trends, production technologies, key applications, and end-use industries.
Shell Eggs Segment by Company
Hanwei-Group
Shanxi Dajiang Agriculture
Cal-Maine Foods
Proteina Animal SA (PROAN)
Rose Acre Farms
Charoen Pokphand Group
ISE Foods
Versova Holdings
Arab Company for Livestock Development (ACOLID)
Daybreak Foods
Kazi Farms Group
Rembrandt Enterprises
Granja Mantiqueira
AvangardCo
Avril Group (Matines)
Huevo El Calvario
Empresas Guadalupe
Granja Yabuta
Center Fresh Group
Hillandale Farms
SUN DAILY
DQY Ecological
Shanxi Jinlong Group Feed
Henan Liujiang Shengtai Muye
Shell Eggs Segment by Type
Chicken Eggs
Duck Eggs
Other Eggs
Shell Eggs Segment by Application
Household
Commercial
Shell Eggs Segment by Region
North America
United States
Canada
Mexico
Europe
Germany
France
U.K.
Italy
Russia
Spain
Netherlands
Switzerland
Sweden
Poland
Asia-Pacific
China
Japan
South Korea
India
Australia
Taiwan
Southeast Asia
South America
Brazil
Argentina
Chile
Middle East & Africa
Egypt
South Africa
Israel
Türkiye
GCC Countries
Study Objectives
1. To analyze and research the global status and future forecast, involving, production, value, consumption, growth rate (CAGR), market share, historical and forecast.
2. To present the key manufacturers, capacity, production, revenue, market share, and Recent Developments.
3. To split the breakdown data by regions, type, manufacturers, and Application.
4. To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints, and risks.
5. To identify significant trends, drivers, influence factors in global and regions.
6. To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market.
Reasons to Buy This Report
1. This report will help the readers to understand the competition within the industries and strategies for the competitive environment to enhance the potential profit. The report also focuses on the competitive landscape of the global Shell Eggs market, and introduces in detail the market share, industry ranking, competitor ecosystem, market performance, new product development, operation situation, expansion, and acquisition. etc. of the main players, which helps the readers to identify the main competitors and deeply understand the competition pattern of the market.
2. This report will help stakeholders to understand the global industry status and trends of Shell Eggs and provides them with information on key market drivers, restraints, challenges, and opportunities.
3. This report will help stakeholders to understand competitors better and gain more insights to strengthen their position in their businesses. The competitive landscape section includes the market share and rank (in volume and value), competitor ecosystem, new product development, expansion, and acquisition.
4. This report stays updated with novel technology integration, features, and the latest developments in the market.
5. This report helps stakeholders to gain insights into which regions to target globally.
6. This report helps stakeholders to gain insights into the end-user perception concerning the adoption of Shell Eggs.
7. This report helps stakeholders to identify some of the key players in the market and understand their valuable contribution.
Chapter Outline
Chapter 1: Provides an overview of the Shell Eggs market, including product definition, global market growth prospects, market size, sales, and average price forecasts (2021-2032).
Chapter 2: Provides the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by manufacturers in the industry, and the analysis of relevant policies in the industry.
Chapter 3: Detailed analysis of Shell Eggs manufacturers competitive landscape, price, sales and revenue market share, latest development plan, merger, etc.
Chapter 4: Provides the analysis of various market segments by type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.
Chapter 5: Provides the analysis of various market segments by application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.
Chapter 6: Sales of Shell Eggs in regional level. It provides a quantitative analysis of the market size and development potential of each region and introduces the market development, future development prospects, market space of each country in the world.
Chapter 7: Revenue of Shell Eggs in regional level. It provides a quantitative analysis of the market size and development potential of each region and introduces the market development, future development prospects, market space of each country in the world.
Chapter 8: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product sales, revenue, price, gross margin, product introduction, recent development, etc.
Chapter 9: Analysis of industrial chain, including the upstream and downstream of the industry.
Chapter 10: Concluding Insights of the report
More report detail
Tables and figures
Scope & coverage.
Types
- Chicken Eggs
- Duck Eggs
- Other Eggs
Applications
- Household
- Commercial
Companies covered
- Hanwei-Group
- Shanxi Dajiang Agriculture
- Cal-Maine Foods
- Proteina Animal SA (PROAN)
- Rose Acre Farms
- Charoen Pokphand Group
- ISE Foods
- Versova Holdings
- Arab Company for Livestock Development (ACOLID)
- Daybreak Foods
- Kazi Farms Group
- Rembrandt Enterprises
- Granja Mantiqueira
- AvangardCo
- Avril Group (Matines)
- Huevo El Calvario
- Empresas Guadalupe
- Granja Yabuta
- Center Fresh Group
- Hillandale Farms
- SUN DAILY
- DQY Ecological
- Shanxi Jinlong Group Feed
- Henan Liujiang Shengtai Muye
Inside the report.
1 Market Overview
- 1.1 Product Definition
- 1.2 Global Shell Eggs Market Size, 2021 VS 2025 VS 2032
- 1.3 Global Shell Eggs Market Size Estimates and Forecasts (2021-2032)
- 1.4 Global Shell Eggs Sales Estimates and Forecasts (2021-2032)
- 1.5 Global Shell Eggs Market Average Price (2021-2032)
- 1.6 Assumptions and Limitations
- 1.7 Study Goals and Objectives
2 Global Shell Eggs Market Dynamics
- 2.1 Shell Eggs Industry Trends
- 2.2 Shell Eggs Industry Drivers
- 2.3 Shell Eggs Industry Opportunities and Challenges
- 2.4 Shell Eggs Industry Restraints
3 Shell Eggs Market by Manufacturers
- 3.1 Global Shell Eggs Revenue by Manufacturers (2021-2026)
- 3.2 Global Shell Eggs Sales by Manufacturers (2021-2026)
- 3.3 Global Shell Eggs Average Sales Price by Manufacturers (2021-2026)
- 3.4 Global Shell Eggs Industry Manufacturers Ranking, 2024 VS 2025 VS 2026
- 3.5 Global Shell Eggs Key Manufacturers Manufacturing Sites & Headquarters
- 3.6 Global Shell Eggs Manufacturers, Product Type & Application
- 3.7 Global Shell Eggs Manufacturers Establishment Date
- 3.8 Market Competitive Analysis
- 3.8.1 Global Shell Eggs Market CR5 and HHI
- 3.8.2 Global Top 5 and 10 Shell Eggs Players Market Share by Revenue in 2025
- 3.8.3 2025 Shell Eggs Tier 1, Tier 2, and Tier 3
4 Shell Eggs Market by Type
- 4.1 Shell Eggs Type Introduction
- 4.1.1 Chicken Eggs
- 4.1.2 Duck Eggs
- 4.1.3 Other Eggs
- 4.2 Global Shell Eggs Sales by Type
- 4.2.1 Global Shell Eggs Sales by Type (2021 VS 2025 VS 2032)
- 4.2.2 Global Shell Eggs Sales by Type (2021-2032)
- 4.2.3 Global Shell Eggs Sales Market Share by Type (2021-2032)
- 4.3 Global Shell Eggs Revenue by Type
- 4.3.1 Global Shell Eggs Revenue by Type (2021 VS 2025 VS 2032)
- 4.3.2 Global Shell Eggs Revenue by Type (2021-2032)
- 4.3.3 Global Shell Eggs Revenue Market Share by Type (2021-2032)
5 Shell Eggs Market by Application
- 5.1 Shell Eggs Application Introduction
- 5.1.1 Household
- 5.1.2 Commercial
- 5.2 Global Shell Eggs Sales by Application
- 5.2.1 Global Shell Eggs Sales by Application (2021 VS 2025 VS 2032)
- 5.2.2 Global Shell Eggs Sales by Application (2021-2032)
- 5.2.3 Global Shell Eggs Sales Market Share by Application (2021-2032)
- 5.3 Global Shell Eggs Revenue by Application
- 5.3.1 Global Shell Eggs Revenue by Application (2021 VS 2025 VS 2032)
- 5.3.2 Global Shell Eggs Revenue by Application (2021-2032)
- 5.3.3 Global Shell Eggs Revenue Market Share by Application (2021-2032)
6 Global Shell Eggs Sales by Region
- 6.1 Global Shell Eggs Sales by Region: 2021 VS 2025 VS 2032
- 6.2 Global Shell Eggs Sales by Region (2021-2032)
- 6.2.1 Global Shell Eggs Sales by Region (2021-2026)
- 6.2.2 Global Shell Eggs Sales Forecasted by Region (2027-2032)
- 6.3 North America
- 6.3.1 North America Shell Eggs Sales Growth Rate by Country: 2021 VS 2025 VS 2032
- 6.3.2 North America Shell Eggs Sales by Country (2021-2032)
- 6.3.3 U.S.
- 6.3.4 Canada
- 6.3.5 Mexico
- 6.4 Europe
- 6.4.1 Europe Shell Eggs Sales Growth Rate by Country: 2021 VS 2025 VS 2032
- 6.4.2 Europe Shell Eggs Sales by Country (2021-2032)
- 6.4.3 Germany
- 6.4.4 France
- 6.4.5 U.K.
- 6.4.6 Italy
- 6.4.7 Netherlands
- 6.5 Asia Pacific
- 6.5.1 Asia Pacific Shell Eggs Sales Growth Rate by Country: 2021 VS 2025 VS 2032
- 6.5.2 Asia Pacific Shell Eggs Sales by Country (2021-2032)
- 6.5.3 China
- 6.5.4 Japan
- 6.5.5 South Korea
- 6.5.6 Southeast Asia
- 6.5.7 India
- 6.5.8 Australia
- 6.6 South America, Middle East and Africa
- 6.6.1 South America, Middle East and Africa Shell Eggs Sales Growth Rate by Country: 2021 VS 2025 VS 2032
- 6.6.2 South America, Middle East and Africa Shell Eggs Sales by Country (2021-2032)
- 6.6.3 Brazil
- 6.6.4 South Africa
- 6.6.5 Saudi Arabia
- 6.6.6 Turkey
- 6.6.6 Argentina
- 6.6.6 UAE
- 6.6.6 Egypt
- 6.6.6 Chile
7 Global Shell Eggs Revenue by Region
- 7.1 Global Shell Eggs Revenue by Region
- 7.1.1 Global Shell Eggs Revenue by Region: 2021 VS 2025 VS 2032
- 7.1.2 Global Shell Eggs Revenue by Region (2021-2026)
- 7.1.3 Global Shell Eggs Revenue by Region (2027-2032)
- 7.1.4 Global Shell Eggs Revenue Market Share by Region (2021-2032)
- 7.2 North America
- 7.2.1 North America Shell Eggs Revenue (2021-2032)
- 7.2.2 North America Shell Eggs Revenue Share by Country: 2021 VS 2025 VS 2032
- 7.3 Europe
- 7.3.1 Europe Shell Eggs Revenue (2021-2032)
- 7.3.2 Europe Shell Eggs Revenue Share by Country: 2021 VS 2025 VS 2032
- 7.4 Asia-Pacific
- 7.4.1 Asia-Pacific Shell Eggs Revenue (2021-2032)
- 7.4.2 Asia-Pacific Shell Eggs Revenue Share by Country: 2021 VS 2025 VS 2032
- 7.5 South America, Middle East and Africa
- 7.5.1 South America, Middle East and Africa Shell Eggs Revenue (2021-2032)
- 7.5.2 South America, Middle East and Africa Shell Eggs Revenue Share by Country: 2021 VS 2025 VS 2032
8 Company Profiles
- 8.1 Hanwei-Group
- 8.1.1 Hanwei-Group Company Information
- 8.1.2 Hanwei-Group Business Overview
- 8.1.3 Hanwei-Group Shell Eggs Sales, Price, Revenue and Gross Margin (2021-2026)
- 8.1.4 Hanwei-Group Shell Eggs Product Portfolio
- 8.1.5 Hanwei-Group Recent Developments
- 8.2 Shanxi Dajiang Agriculture
- 8.2.1 Shanxi Dajiang Agriculture Company Information
- 8.2.2 Shanxi Dajiang Agriculture Business Overview
- 8.2.3 Shanxi Dajiang Agriculture Shell Eggs Sales, Price, Revenue and Gross Margin (2021-2026)
- 8.2.4 Shanxi Dajiang Agriculture Shell Eggs Product Portfolio
- 8.2.5 Shanxi Dajiang Agriculture Recent Developments
- 8.3 Cal-Maine Foods
- 8.3.1 Cal-Maine Foods Company Information
- 8.3.2 Cal-Maine Foods Business Overview
- 8.3.3 Cal-Maine Foods Shell Eggs Sales, Price, Revenue and Gross Margin (2021-2026)
- 8.3.4 Cal-Maine Foods Shell Eggs Product Portfolio
- 8.3.5 Cal-Maine Foods Recent Developments
- 8.4 Proteina Animal SA (PROAN)
- 8.4.1 Proteina Animal SA (PROAN) Company Information
- 8.4.2 Proteina Animal SA (PROAN) Business Overview
- 8.4.3 Proteina Animal SA (PROAN) Shell Eggs Sales, Price, Revenue and Gross Margin (2021-2026)
- 8.4.4 Proteina Animal SA (PROAN) Shell Eggs Product Portfolio
- 8.4.5 Proteina Animal SA (PROAN) Recent Developments
- 8.5 Rose Acre Farms
- 8.5.1 Rose Acre Farms Company Information
- 8.5.2 Rose Acre Farms Business Overview
- 8.5.3 Rose Acre Farms Shell Eggs Sales, Price, Revenue and Gross Margin (2021-2026)
- 8.5.4 Rose Acre Farms Shell Eggs Product Portfolio
- 8.5.5 Rose Acre Farms Recent Developments
- 8.6 Charoen Pokphand Group
- 8.6.1 Charoen Pokphand Group Company Information
- 8.6.2 Charoen Pokphand Group Business Overview
- 8.6.3 Charoen Pokphand Group Shell Eggs Sales, Price, Revenue and Gross Margin (2021-2026)
- 8.6.4 Charoen Pokphand Group Shell Eggs Product Portfolio
- 8.6.5 Charoen Pokphand Group Recent Developments
- 8.7 ISE Foods
- 8.7.1 ISE Foods Company Information
- 8.7.2 ISE Foods Business Overview
- 8.7.3 ISE Foods Shell Eggs Sales, Price, Revenue and Gross Margin (2021-2026)
- 8.7.4 ISE Foods Shell Eggs Product Portfolio
- 8.7.5 ISE Foods Recent Developments
- 8.8 Versova Holdings
- 8.8.1 Versova Holdings Company Information
- 8.8.2 Versova Holdings Business Overview
- 8.8.3 Versova Holdings Shell Eggs Sales, Price, Revenue and Gross Margin (2021-2026)
- 8.8.4 Versova Holdings Shell Eggs Product Portfolio
- 8.8.5 Versova Holdings Recent Developments
- 8.9 Arab Company for Livestock Development (ACOLID)
- 8.9.1 Arab Company for Livestock Development (ACOLID) Company Information
- 8.9.2 Arab Company for Livestock Development (ACOLID) Business Overview
- 8.9.3 Arab Company for Livestock Development (ACOLID) Shell Eggs Sales, Price, Revenue and Gross Margin (2021-2026)
- 8.9.4 Arab Company for Livestock Development (ACOLID) Shell Eggs Product Portfolio
- 8.9.5 Arab Company for Livestock Development (ACOLID) Recent Developments
- 8.10 Daybreak Foods
- 8.10.1 Daybreak Foods Company Information
- 8.10.2 Daybreak Foods Business Overview
- 8.10.3 Daybreak Foods Shell Eggs Sales, Price, Revenue and Gross Margin (2021-2026)
- 8.10.4 Daybreak Foods Shell Eggs Product Portfolio
- 8.10.5 Daybreak Foods Recent Developments
- 8.11 Kazi Farms Group
- 8.11.1 Kazi Farms Group Company Information
- 8.11.2 Kazi Farms Group Business Overview
- 8.11.3 Kazi Farms Group Shell Eggs Sales, Price, Revenue and Gross Margin (2021-2026)
- 8.11.4 Kazi Farms Group Shell Eggs Product Portfolio
- 8.11.5 Kazi Farms Group Recent Developments
- 8.12 Rembrandt Enterprises
- 8.12.1 Rembrandt Enterprises Company Information
- 8.12.2 Rembrandt Enterprises Business Overview
- 8.12.3 Rembrandt Enterprises Shell Eggs Sales, Price, Revenue and Gross Margin (2021-2026)
- 8.12.4 Rembrandt Enterprises Shell Eggs Product Portfolio
- 8.12.5 Rembrandt Enterprises Recent Developments
- 8.13 Granja Mantiqueira
- 8.13.1 Granja Mantiqueira Company Information
- 8.13.2 Granja Mantiqueira Business Overview
- 8.13.3 Granja Mantiqueira Shell Eggs Sales, Price, Revenue and Gross Margin (2021-2026)
- 8.13.4 Granja Mantiqueira Shell Eggs Product Portfolio
- 8.13.5 Granja Mantiqueira Recent Developments
- 8.14 AvangardCo
- 8.14.1 AvangardCo Company Information
- 8.14.2 AvangardCo Business Overview
- 8.14.3 AvangardCo Shell Eggs Sales, Price, Revenue and Gross Margin (2021-2026)
- 8.14.4 AvangardCo Shell Eggs Product Portfolio
- 8.14.5 AvangardCo Recent Developments
- 8.15 Avril Group (Matines)
- 8.15.1 Avril Group (Matines) Company Information
- 8.15.2 Avril Group (Matines) Business Overview
- 8.15.3 Avril Group (Matines) Shell Eggs Sales, Price, Revenue and Gross Margin (2021-2026)
- 8.15.4 Avril Group (Matines) Shell Eggs Product Portfolio
- 8.15.5 Avril Group (Matines) Recent Developments
- 8.16 Huevo El Calvario
- 8.16.1 Huevo El Calvario Company Information
- 8.16.2 Huevo El Calvario Business Overview
- 8.16.3 Huevo El Calvario Shell Eggs Sales, Price, Revenue and Gross Margin (2021-2026)
- 8.16.4 Huevo El Calvario Shell Eggs Product Portfolio
- 8.16.5 Huevo El Calvario Recent Developments
- 8.17 Empresas Guadalupe
- 8.17.1 Empresas Guadalupe Company Information
- 8.17.2 Empresas Guadalupe Business Overview
- 8.17.3 Empresas Guadalupe Shell Eggs Sales, Price, Revenue and Gross Margin (2021-2026)
- 8.17.4 Empresas Guadalupe Shell Eggs Product Portfolio
- 8.17.5 Empresas Guadalupe Recent Developments
- 8.18 Granja Yabuta
- 8.18.1 Granja Yabuta Company Information
- 8.18.2 Granja Yabuta Business Overview
- 8.18.3 Granja Yabuta Shell Eggs Sales, Price, Revenue and Gross Margin (2021-2026)
- 8.18.4 Granja Yabuta Shell Eggs Product Portfolio
- 8.18.5 Granja Yabuta Recent Developments
- 8.19 Center Fresh Group
- 8.19.1 Center Fresh Group Company Information
- 8.19.2 Center Fresh Group Business Overview
- 8.19.3 Center Fresh Group Shell Eggs Sales, Price, Revenue and Gross Margin (2021-2026)
- 8.19.4 Center Fresh Group Shell Eggs Product Portfolio
- 8.19.5 Center Fresh Group Recent Developments
- 8.20 Hillandale Farms
- 8.20.1 Hillandale Farms Company Information
- 8.20.2 Hillandale Farms Business Overview
- 8.20.3 Hillandale Farms Shell Eggs Sales, Price, Revenue and Gross Margin (2021-2026)
- 8.20.4 Hillandale Farms Shell Eggs Product Portfolio
- 8.20.5 Hillandale Farms Recent Developments
- 8.21 SUN DAILY
- 8.21.1 SUN DAILY Company Information
- 8.21.2 SUN DAILY Business Overview
- 8.21.3 SUN DAILY Shell Eggs Sales, Price, Revenue and Gross Margin (2021-2026)
- 8.21.4 SUN DAILY Shell Eggs Product Portfolio
- 8.21.5 SUN DAILY Recent Developments
- 8.22 DQY Ecological
- 8.22.1 DQY Ecological Company Information
- 8.22.2 DQY Ecological Business Overview
- 8.22.3 DQY Ecological Shell Eggs Sales, Price, Revenue and Gross Margin (2021-2026)
- 8.22.4 DQY Ecological Shell Eggs Product Portfolio
- 8.22.5 DQY Ecological Recent Developments
- 8.23 Shanxi Jinlong Group Feed
- 8.23.1 Shanxi Jinlong Group Feed Company Information
- 8.23.2 Shanxi Jinlong Group Feed Business Overview
- 8.23.3 Shanxi Jinlong Group Feed Shell Eggs Sales, Price, Revenue and Gross Margin (2021-2026)
- 8.23.4 Shanxi Jinlong Group Feed Shell Eggs Product Portfolio
- 8.23.5 Shanxi Jinlong Group Feed Recent Developments
- 8.24 Henan Liujiang Shengtai Muye
- 8.24.1 Henan Liujiang Shengtai Muye Company Information
- 8.24.2 Henan Liujiang Shengtai Muye Business Overview
- 8.24.3 Henan Liujiang Shengtai Muye Shell Eggs Sales, Price, Revenue and Gross Margin (2021-2026)
- 8.24.4 Henan Liujiang Shengtai Muye Shell Eggs Product Portfolio
- 8.24.5 Henan Liujiang Shengtai Muye Recent Developments
9 Value Chain and Sales Channels Analysis
- 9.1 Shell Eggs Value Chain Analysis
- 9.1.1 Shell Eggs Key Raw Materials
- 9.1.2 Raw Materials Key Suppliers
- 9.1.3 Manufacturing Cost Structure
- 9.1.4 Shell Eggs Production Mode & Process
- 9.2 Shell Eggs Sales Channels Analysis
- 9.2.1 Direct Comparison with Distribution Share
- 9.2.2 Shell Eggs Distributors
- 9.2.3 Shell Eggs Customers
10 Concluding Insights
11 Appendix
- 11.1 Reasons for Doing This Study
- 11.2 Research Methodology
- 11.3 Research Process
- 11.4 Authors List of This Report
- 11.5 Data Source
- 11.5.1 Secondary Sources
- 11.5.2 Primary Sources
- 11.6 Disclaimer
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