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 products market 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.
The egg products market in Europe is experiencing steady growth attributed to the increasing adoption of egg-based products in the food industry. The region's market is driven by factors such as the growing popularity of convenience foods, rising consumer awareness regarding protein-rich diets, and the expansion of the food processing sector. European consumers are increasingly inclining towards healthier food choices, which include egg products known for their nutritional value. Additionally, advancements in food technology and processing methods are enhancing the quality and safety of egg products, further boosting market growth. Key players in the region are focusing on product diversification and strategic partnerships to capitalize on emerging opportunities in 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.
Major Players:
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.
Market Segmentation
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.
Industry news
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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