Egg Processing Market - Forecast(2023 - 2028)

Egg Processing Market Overview

The global egg processing market size is estimated to be $28.4 million in 2018 and has been estimated to have a CAGR of 3.9% during the forecast period 2019–2024. The market growth can be attributed to the increase in the demand and the consumption of functional and convenience foods. Egg processing can help in prolonging the shelf life of egg products as well as making them easier to use. Examples of processed egg products include: pasteurized liquid eggs, albumen and powdered eggs.

Key Takeaways

• In the coming years, the growing application of processed egg in various baked goods is anticipated to drive development in the egg processing industry. More information on various other applications of egg processing also provided in the report.
• Key sustainability strategies such as acquisitions or expansions are being adopted by the key market players to ensure the growth of the egg processing market. Other developments by other key players also analyzed in report.
• It is evaluated that the North America region is having highest market share in the egg processing market. Information of market share as well as CAGR for other regions given in the report.

Product Type - Segment Analysis

In 2018, the liquid egg product type dominated the egg processing market in terms of revenue and had an estimated CAGR of 2.4%. Its popularity can be attributed to the fact that this product can be considered as a convenience product. The usage is very easy as the shell has already been cracked. Its usage can save the time and energy of the people involved.

Application - Segment Analysis

In the application segment, the egg processing market is dominated by the bakery segment that accounted for a significant market share in 2018. This is mainly owing to the increase in the demand and consumption of bakery items. The increase in the variety of bakery products have also resulted in the overall market growth. This factors will result in the growth of this segment in the forecast period (2019-2024).

Geography - Segment Analysis

In 2018, North America is estimated to represent the largest share of the worldwide egg processing market in terms of revenue. The estimated egg processing market share of this region is 36%. The growth of the market in North America can be mainly attributed to the technological advancements as well the rising dependence and demand for ready to eat foods that can be considered as healthy.

Drivers – Egg Processing Market

·        Rising demand for Ready-to-Eat and Convenience Foods

There is a significant rise in demand for a variety of convenience foods that are ready to eat especially among people from developed nations as well as developing nations. The need for a healthy lifestyle have also influenced people from these regions to have foods that are healthier in nature and at the same time, convenient and easy to handle. This has resulted in the growth of the overall market.

·        Technological Advancements

The processed egg are gaining popularity and processing will increase the shelf life of the products as well as lower the overall risk of contamination. This will increase the overall quality of the egg and many people are aware of the benefits of processed egg over the usual egg.

Challenges – Egg Processing Market

·        Stringent Food Regulations

The current significant challenge faced by the egg processing market is the stringent regulations set by governments all around the world. Manufacturers need to make sure that their products meets these regulations so that they do not face any problems while selling their products in these locations.

Egg Processing Industry Outlook

Acquisitions and expansions are the preferred strategies undertaken by the key players in the egg processing market. The egg processing top 10 companies include: Avril SCA, Bouwhuis Enthovan, Eurovo S.R.L., Igreca S.A., Interovo Egg Group B.V., Moba B.V., Cal-Maine Foods, Inc, Rose Acre Farms, Ballas Egg Products Corporation and Rembrandt Enterprises.

Egg Processing Market Research Scope:

The base year of the study is 2018, with forecast done up to 2024. The study presents a thorough analysis of the competitive landscape, taking into account the market shares of the leading companies. These provide the key market participants with the necessary business intelligence and help them understand the future of the egg processing market. The assessment includes the forecast, an overview of the competitive structure, the market shares of the competitors, as well as the market trends, market demands, market drivers, market challenges, and product analysis. The market drivers and restraints have been assessed to fathom their impact over the forecast period. This report further identifies the key opportunities for growth while also detailing the key challenges and possible threats. The key areas of focus include the product types and their specific applications.