Egg Powder Food Market: Industry Analysis and Opportunity and Forecast to 2027
Due to the poultry sector’s tremendous progress in the last decade, the
egg powder market has also grown considerably. The market has become highly
productive. The ease of use and convenience provided by egg powders has
increased the market’s size significantly. As egg powder can be stored and
transported at room temperatures, it is being used in a wide range of
applications. The growth of the food service industry is expected to be a
powerful motivator for the growth of the market. The market is estimated to
achieve revenues worth USD 1201.5 million by 2023 while expanding at a CAGR of
4.34 percent in the course of the forecast period from 2017 to 2023.
The market is observed to be fuelled by the intensifying demand for food
products with high nutritional value coupled with the factor of mounting health
consciousness amongst the consumers in supporting the sales of this product in
the market globally. Whole egg powder which is extensively used in bakery
products to enhance the organoleptic property of the product, has garnered a
broad application scope in several industries due to its functional properties.
The characteristics of egg which enable high stability, effective
emulsification and the gelling ability of egg powder make it an indispensable
ingredient in bakery and confectionery goods. Furthermore, as consumers are increasingly
relying on semi-prepared, restaurant prepared, and other convenience food
options, this scenario will create a favorable market for egg powder
manufacturers. The escalating application of egg powder in food items such as
noodles & pasta followed by the mayonnaise segment is significantly adding
to the expansion of the market. Also, the vast level of investments by
significant contenders in this market will boost the development of the market.
Furthermore, the increasing demand for bakery and confectionery in this region
is adding to the market growth of egg powders.
Escalating consumption of convenience food and intensifying demand for
shelf stable food products also has contributed to the demand for egg powder.
As a result of this, its consumptions in bakery and confectionery products
preparations have been growing at a high pace both in developed & emerging
economies which is motivating the growth of egg powder market. Moreover, the
high shelf life of the product is majorly attracting the consumers dependent on
egg protein. The use of different varieties of egg powder products in organized
foodservice is expected to power the growth of the market through the forecast
period. In addition, the growing promotional activities for promoting egg powder
will result in various potential opportunities for generating high revenue in
egg powder market in the forecast period.
Key Players
The principal market competitors in the egg powder market globally are
Pulviver Sprl (U.K), Ovostar Union N.V (the Netherlands), SKM Egg Products
Export (India) Ltd., Adriaan Goede BV (the Netherlands), Rose Acre Farms, Inc
(U.S.), Bouwhuis Enthoven B.V. (the Netherlands), Rembrandt Enterprises, Inc.
(U.S.), IGRECA SA (France), Agroholding Avangard (Cyprus), and Interovo Egg
Group B.V (the Netherlands) among others.
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Segmental Analysis
The market for egg powder is
segmented into the categories of application and type. On the basis of type,
the market for egg powder is segmented into EYP (Egg Yolk Powder), WEP (Whole
Egg Powder), and EAP (Egg Albumin Powder). Among the categories, the whole egg
powder is expected to be responsible for the key market proportion of 65.51
percent in the year of 2018. Furthermore, it has the maximum market share in
the European region followed by the North American region. However, the egg
yolk powder is estimated to be the most rapidly expanding segment in the course
of the forecast period. Based on application, the egg powder market is
segmented into noodles & pasta, meat & fish, mayonnaise & salad
dressing, bakery & confectionery, and others. Among these categories, the
bakery & confectionery segment is estimated to control the market for the
year 2018. However, the noodles & pasta segment is observing a healthy CAGR
of 4.78 percent for the period of the forecast period from 2017 to 2023.
Regional Analysis
The egg
powder market is segmented into regions such as Europe, North America, Asia
Pacific, and Rest of the World. The European region is expected to be
responsible for the maximum market share of 38.30 percent in the year 2018, and
the trend is anticipated to carry on through the forecast period. Moreover, in
the European region, the Netherlands is developing at the highest rate trailed
by Germany. However, the Asia Pacific region is projected to be the most
rapidly developing region for the egg powder market. There is an enormous
growth potential for egg powder in developing economies, such as India and
China, which is acting as a motivator for the market in the Asia Pacific
region. Increasing applications of egg powder in confectionery and bakery are
majorly contributing to the growing demand for egg powder in the APAC region.
In India, the application of egg powder is projected to be growing rapidly in
the meat & fish segment trailed by the noodles & pasta segment in the
course of the forecast period. The North American and Asia Pacific regions
together are expected to hold a portion of more than 50 percent in the egg
powder market.
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