Increase in Demand for Processed and Protein-Rich Food among Consumers Anticipated to Drive Global Egg Market: Ken Research
Egg is a most nutritious foods that contain several minerals and vitamins that are essential parts of a healthful diet. It is a readily available, inexpensive food. It is available in different forms including concentrated, crystallized, solid, frozen, liquid, and deep-frozen. It plays an important role in various branches of modern food industry, especially in baking, as their particular chemical makeup acts as a glue in several important baking reactions. It provides a number of health benefits like strong muscles, lower risk of heart diseases, healthy in pregnancy, energy production, brain health, skin health, weight loss & maintenance and others. Egg is also a source of vitamins A, B, E, and K. Additionally, egg white and yolk are both rich sources of protein. About 12.6% of the edible part of an egg is protein.
According to study, “Egg Global Market Report 2019” the key companies operating in the global egg market are Alltech Biotechnology Inc., Global Egg Corporation, Barry Farms, Michael Foods Inc., Eggland’s Best Inc., Cal-Maine Foods Inc., Pilgrim’s Pride Corp., Egg Industries, Hyline International, Godrej Agrovet Ltd, Noble Foods Ltd, Land O’ Lakes Inc., Suguna Poultry, Rose Acre Farms, Venkys India Ltd., SKM Egg Products, Selasih Aman Sdn Bhd, Tree of Life Organics, Taj Agro Products, Tyson Foods Inc. The key companies in the market are mainly focusing towards geographical expansion, product innovation, and new product launches to maintain their prominence in the global arena.
Based on product type, egg market is segmented into liquid egg, egg powders, table eggs (branded eggs), bakery mix, dried egg, frozen egg, specialty eggs and others. Liquid egg is further sub-segmented into egg yolk, whole egg, and egg white. These products are produced & processed from raw eggs. In addition, based on application, market is segmented into cosmetics, medicines & vaccines, animal feed & pet food, foods and others. Foods include sauces, bakery, confectionery, beverages, dairy, nutraceuticals, meal replacements, prepared foods and others.
The egg market is driven by growth in base of the middle class population, followed by increase in per capita consumption of eggs, growth in popularity of egg-based products, increase in demand for processed & protein-rich food among consumers and rise in purchasing power of people. However, increase in population of vegan and rise in occurrence of bird flu or avian influenza may impact the market. Moreover, large-scale availability of various egg products is a key opportunity for market. Furthermore, rise in advent of new technologies for processing egg products is a major trend for market.
Based on geography, the Asian-Pacific region holds major share in global egg market owing to increase in number of health-conscious consumers in the region. Whereas, the European and Asian-Pacific regions are estimated to witness higher growth rate due to high consumption of egg products as a convenient breakfast food over the forecast period. In upcoming years, it is expected that future of the market will be optimistic as a result of growth in advancements in food processing industry during the forecast period.
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Ankur Gupta, Head Marketing & Communications