Processed Eggs Market Share, Size, Trends, Industry Analysis Report, By Product Type (Dried Egg Products, Liquid Egg Products, and Frozen Egg Products); By Application; By Region; Segment Forecast, 2022-2030
- Published Date:Nov-2022
- Pages: 118
- Format: PDF
- Report ID: PM2874
- Base Year: 2021
- Historical Data: 2018-2020
Report Outlook
The global processed eggs market was valued at USD 26.85 billion in 2021 and is expected to grow at a CAGR of 3.6% during the forecast period.
The shift in consumer preferences towards processed food, and growing demand for high-quality egg products coupled with changing consumer lifestyles are key factors projected to boost the growth of the global market significantly over the anticipated period. Processed eggs contain high-quality protein and have all nine types of amino acids, which significantly contribute to muscle synthesis, blood glucose management, and resulting in increased power, strength, and energy. These factors are further likely to augment the growth and demand for processed eggs over the coming years.
Know more about this report: Request for sample pages
Moreover, owing to high technological developments and advancements, processed eggs are treated and pasteurized more efficiently, reducing the risk of contamination, and extending the shelf life. The widespread availability of convenience food products and the development of longer shelf-life products have resulted in a change in consumer purchasing behaviors for dietary items.
However, the rise in the number of stringent food safety regulations, stringent animal welfare regulatory policies, and time-consuming regulatory policies are a few major factors expected to hamper the growth of the market, and will further challenge the growth ad demand for processed eggs over the study period.
The outbreak of the COVID-19 pandemic has significantly impacted the growth and demand of the processed eggs market. During the pandemic, several countries around the globe were on lockdown and closed their borders to prevent from spreading of the deadly coronavirus, which has impacted the global supply chain and high disruptions in manufacturing firms. However, the outbreak of COVID-19 has promoted the sales of processed eggs through eCommerce platforms, which is likely to increase the sales of eggs and achieve rapid growth.
Know more about this report: Request for sample pages
Industry Dynamics
Growth Drivers
A rapid growth in the demand for protein-rich foods and nutritional supplements along with shifting consumer preferences towards processed foods are key major factors projected to drive the growth of the global market during the forecast period. As demand increases, major market players are increasing their focus on the launch of high-end products including integrated assembly lines, which helps to improve the production speed and reduce operational costs.
Additionally, an extensive rise in the usage of processed eggs in various sectors such as bakery & confectionery and diary coupled with the development of new and innovative manufacturing processes of processed eggs and reduced waste is further anticipated to propel the growth of the market in the coming years. In addition, the growing need and demand for egg identification to eliminate the entry of unsafe eggs in the market are likely to fuel the growth of the processed eggs market, since it is highly safe and nutritious.
Report Segmentation
The market is primarily segmented based on product type, application, and region.
|
By Product Type |
By Application |
By Region |
|
|
|
Know more about this report: Request for sample pages
The dried egg products segment accounted for the largest market share
The dried egg products segment accounted for a substantial part of the global revenue share due to the longer shelf life and higher stability of these products as compared to others. High usage of these egg products as a substitute for fresh eggs in various bakery products such as cookies, cakes, ice-creams, sauces, and doughnuts and the presence of superior emulsifying properties are likely to augment the growth of the segment market. Additionally, there are lots of opportunities for egg powder production factories from several industries including hospitals, military establishments, and restaurants in the next coming years.
However, liquid egg products are projected to grow substantially at a CAGR during the projected period. These egg products have gained high popularity, particularly in the food service sector as they are made from white eggs, which have separated from white and yolk combinations. Moreover, easy transportation of liquid egg products and adoption in various ready-to-eat meals and confectionery items are propelling segment market growth.
Bakery & Confectionery segment held the highest revenue share in 2021
In 2021, bakery & confectionery lead the processed eggs market with a holding of significant market share. The growth of the segment market can be attributed to the rising usage of processed eggs in bakery products such as cakes, cookies, and ice creams among others to add flavor, nutrition, and color. In addition, increasing numbers of social media campaigns and the popularity of several online shopping platforms across the globe owing to the high penetration of internet facilities are likely to create lucrative growth opportunities for the segment market in the future. Processed eggs are highly used as ingredients in various confectionery items including candy, chocolate, and pastries, which is anticipated to fuel the adoption of processed eggs in the sector.
In addition, the food processing segment is likely to register a significant growth rate during the anticipated period due to its ability to provide structure and texture to various well-known food products. Furthermore, higher technological advancements in the processing industry and rising investments by many large market companies for the expansion of their production capacities across the globe, are expected to boost the segment market at a healthy rate of growth. For instance, in October 2021, Cal-Milne Foods Inc, a global producer of fresh eggs announced that the company is investing USD 23 million in a capital project. With the completion of this project, the company will expand its cage-free egg production at its Okeechobee, Florida, manufacturing facility.
North America region dominated the global market in 2021
North America holds a significant market revenue share in 2021 and is likely to be stable in terms of growth in the coming years owing to the availability of a diverse range of processed egg products and higher product innovation in the region. Moreover, the rising prevalence of hectic lifestyles and the rising number of consumers who are seeking meals that meet their health needs coupled with the booming businesses of bakeries in the United States are likely to contribute significantly to the regional market growth.
Furthermore, Asia Pacific is emerging as the fastest-growing region in the market over the forecast period owing to high population growth, rapid urbanization, and increasing awareness of several nutritional aspects of processed eggs in the region. In addition, a rising number of sports persons and athletes coming from the countries such as China, Japan, and India, who require high-rich protein products to maintain their body fit and healthy are also likely to propel the adoption of processed eggs rapidly.
Competitive Insight
Key players include Actini Group, Avril SCA, Cal-Marine Foods, Igreca S.A., Interovo Egg Group, Rose Acre Farms, Ballas Egg Products, Rembrandt Enterprises, Bouwhuis Enthoven, Sanovo Technology, Moba, Tyson Foods, SKM Egg Products, Dakota Layers, and Glon Group.
Recent Developments
In October 2021, Cal-Mine Foods announced about the expansion of its egg production capabilities. It plans to invest around USD 82 million on proposed projects including 4 new cage-free layer houses & 2 pullet houses.
Furthermore, in July 2022, Sanovo Technology announced that the company has agreed to make a strategic investment with Ovotrack in Ovotrack Holding, a leading supplier of traceability and inventory management solutions for egg processing plants, grading centers, and hatcheries.
Processed Eggs Market Report Scope
|
Report Attributes |
Details |
|
Market size value in 2022 |
USD 27.73 billion |
|
Revenue forecast in 2030 |
USD 36.8 billion |
|
CAGR |
3.6% from 2022 – 2030 |
|
Base year |
2021 |
|
Historical data |
2018 – 2020 |
|
Forecast period |
2022 – 2030 |
|
Quantitative units |
Revenue in USD billion and CAGR from 2022 to 2030 |
|
Segments covered |
By Product Type, By Application, By Region |
|
Regional scope |
North America, Europe, Asia Pacific, Latin America; Middle East & Africa |
|
Key companies |
Actini Group, Avril SCA, Cal-Marine Foods Inc., Igreca S.A., Interovo Egg Group B.V., Rose Acre Farms, Ballas Egg Products Corporation, Rembrandt Enterprises Inc., Bouwhuis Enthoven BV, Sanovo Technology Group, Moba B.V., Tyson Foods Inc., SKM Egg Products Export, Dakota Layers, and Glon Group. |
© 2024 Polaris Market Research and Consulting. All rights reserved
