Egg Products Market Overview
The egg products market is expected to grow at a CAGR of 6.52% during the forecast period 2022-2030 due to increasing consumption of eggs for various food applications such as bakery, cereal, chocolate and others. The rising demand for healthy foods is also aiding in the consumption of eggs globally. Furthermore, there are growing health concerns over cholesterol levels and other cardiovascular risks associated with conventional dietary fats, fuelling increased demand for plant-based alternatives such as omega3-rich oils, including those from eggs.
The egg product industry is complex, involving many different stages, from production to sale. Some common restraints the industry faces include increasing vegan population and import restrictions, food safety concerns related to avian influenza outbreaks in recent years etc. The different audience sections have given regular growth to the market.
Global Egg Products Market - Competitive Analysis
The well-established, egg products industry appears to be highly competitive and fragmented due to the presence of several notable players. Key trends observed among the market players include mergers acquisitions, collaboration, expansion, and product launch. Providers operating in this market strive to deliver high-quality products developed using innovative technologies reliably.
The egg products key market players include Tyson Foods, Inc. (US), Michael Foods Inc. (US), Rembrandt Enterprises, Inc. (US), SKM Egg Products Export (India), Daiya Foods Inc. (Canada), Andros (France), and The Kraft Heinz Company (US), among others.
After the projected period, the Egg Products segment will rule the Egg Product Market by type. The dry egg product comprises a liquid egg that is then dried and then granulated to powder. Without refrigeration, dried egg powder is preserved, transported, and stored at ambient temperature without refrigeration. The product has a long shelf life and is comparatively stable. This product can be used in place of fresh eggs in bakery goods, including cakes, ice cream, cookies, doughnuts, and sauces. Hotels, hospitals, restaurants, and military facilities, among others, employ whole egg powder.
The Food Processing Industry segment dominated the Egg Products market in terms of Application, and this dominance is anticipated to persist at the end of the forecast period. Eggs serve a crucial role in food preparation by giving many well-known meals structure and texture. In recipes, eggs are used as the "glue" to bind components together. For instance, this adhesive helps chefs make hamburgers. They are frequently used in fried foods as a coating, either by themselves or in combination with flour or breadcrumbs, to create a seal around the ingredients. The demand for eggs and egg products is rising quickly due to their numerous applications, causing these market sectors to grow more quickly.
The egg products market share is divided into North America, Europe, Asia Pacific, and Latin America.
And among them, Asia pacific region is said to have the highest contribution.
In 2018 the egg product market was dominated by the Asia-Pacific region, and this dominance is anticipated to continue during the projected period. They hold a 41.22% market share at the time of the research. The highest CAGR is anticipated to be present.
The Asia Pacific dominates the world egg product market in terms of production and consumption. Due to the region's dense population and the significance of eggs in many Asian cuisines. Since the demand for frozen desserts and ice cream is rising in developing nations, egg products are used in these goods.
According to a statement by the U.S. Department of Agriculture's Food Safety and Inspection Service (FSIS), 66 pounds of dried albumin egg products were recalled by Valrhona Inc., a Brooklyn, New York business
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