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.
Egg
Powder Food Market Analysis
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.
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.
Detailed 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.
Competitive Analysis
The established competitors are responsible for the key share
in the egg powder market globally. The established players are observed to be
following certain strategies to maintain their consumer base to contend with
the new players entering into the egg powder market. These firms are
concentrating on new product launches, product promotions, and acquisition of
similar businesses to grow their geographical presence and customer base.
Furthermore, the companies are motivated towards process improvisations and
solidification of their marketing base. 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.
Complete Report Details @ https://www.marketresearchfuture.com/reports/egg-powder-market-5237
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