The Egg Powder Market is estimated to substantiate, i.e. grow at a handsome rate In Upcoming Years. The present-day scenario implies the adoption of smarter ways to do business. As such, digital acceleration is inevitable. IT is known to aid customers with better sustenance by maximizing production, asset, and supply chain performance. A multitude of collaborations could be improved upon by digitization acting as a catalyst. This would be the trend catching up in the forecast period.
A new research report by Persistence Market Research gives a snapshot of the global egg powder market, which includes products such as whole egg powder, egg yolk powder, egg albumen powder, and egg powder mix or a blend of egg powder. The report is titled ‘Egg Powder Market: Global Industry Analysis 2012-2016 and Forecast 2017-2025’. This comprehensive research study reveals that the global market is witnessing maximum demand for egg powder products from the food industry. Also, a latest trend shows a growing demand for egg powder products from the bakery and cosmetics industry.
According to the research, the global egg powder market was valued at over US$ 800 Mn in 2016 and is expected to reach a value of over US$ 1,200 Mn in 2025. The market is anticipated to grow at a CAGR of 4.5% during the forecast period. Manufacturers are focusing towards producing egg powder or dried egg products, owing to the increasing demand for egg powder in Western European countries and the Asia Pacific region.
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Global Egg Powder Market: Segmental Highlights
Here are some of the highlights from the segmental analysis of the global egg powder market:
- On the basis of product type, whole egg powder leads the market with a market valuation of over US$ 500 Mn in 2017. Another lucrative segment is egg yolk powder, growing at a higher CAGR of 4.9% during the forecast period.
- On the basis of end use, food is projected to be the most attractive segment in the global egg powder market. Among its sub segments, bakery shows the highest growth rate with 5.0% CAGR during the forecast period.
- In terms of distribution channel, the direct channel holds a dominating position in the global market with a market value of over US$ 700 Mn in 2017, growing at a CAGR of 4.6% during the forecast period.
- Among the various regional markets, North America is expected to hold the highest market value throughout the forecast period with a constant growth rate. However, Europe is expected to be the most attractive regional market for egg powder during the forecast period.
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The increase in the rate of health conscious people worldwide has helped boost the global egg powder market. Egg powder products also have a longer shelf life, which makes it an obvious choice among people. Another factor helping the market is an increase in the usage of egg powder in meat based products. As the price of meat keeps increasing, egg powder is considered a good alternative ingredient used in meat, as it is a well-known source of protein. This factor is believed to be an important driver in the growth of the egg powder market.
However the market dynamics also includes some negative factors related to egg powder products such as contamination of eggs and egg powder. Then again, the high tariffs levied on imported consumer-oriented products increase the prices of eggs and its products, due to which, it is becomes difficult for consumers to buy imported egg products in the market, especially frozen egg products. Also in regions like Africa, most of the population is below the poverty line. Their consumption levels are very less. This factor is indirectly restraining revenue growth of the egg powder market in the region.
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The report comprises a major section on the analysis of the competitive scenario of the global egg powder market. It includes the profiles of various key players operating in the global market. Some of these major players mentioned in the report are Ovostar Union N.V., Adriaan Goede BV, Rose Acre Farms, Rembrandt Enterprises Inc, Pulviver, Wulro BV, Agroholding Avangard, Deb-El Foods, Sanovo Egg Group, Venky’s(India) Limited, Ovobel Foods Limited, Bouwhuis Enthoven etc.
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