ID: MRFR/F-B & N/9158-HCR | August 2021 | Region: Global | 90 pages
Processed eggs market is projected to register a CAGR of 3.51% and reach a value of USD 34.82 billion by 2028. Processed eggs are produced by removing eggshells and separating the obtained liquid product, i.e., egg yolk and egg white, to make themsuitable for various applications. Removal of eggshells, filtration, mixing & blending, stabilizing, pasteurizing, drying/freezing, and packaging are the major steps involved during the manufacturing of processed eggs. They are used as an ingredient in a variety of applications such as baked products, confectionery, sauces, dressings, spreads, and personal care products such as shampoo, soap. The nutritional value, bioactivity, and functionality of processed eggs broaden its scope of applications. However, the presence of substitute products, such as yogurt, non-fat dried milk, and vegetable oils, can be a restraining factor to the use of processed eggs. But outstanding nutritional and functional properties of processed eggs create great growth opportunities for its application in the food and beverage industry.
COVID-19 Impact Analysis
COVID-19 has directly affected the distribution and sales of different products across industries. Many countries are under lockdown and have sealed their borders to curb the spread of the virus. The impact of COVID-19 on logistics has disrupted the supply of raw materials, which has further reduced production capacity and, thus, product shortages. These factors are expected to cause a price rise in processed eggs in the short run. Apart from providing nutritional benefits,processed eggs also impartgood texture and flavor to food items. The current pandemic scenario is encouraging consumers to consume products with high nutritional benefits. These factors are directly impacting the supply and demand curve for processed eggs.
However, the biggest concern remains logistics. With the increasing number of COVID-19 infections globally, restrictions on vehicular movement are increasing. As the global economy struggles with the pandemic situation, its impact on the global trade and supply chain is growing owing to the rapid weakening of global investment flows. The reduced demand for food ingredients and raw materials is creating uncertainty in the transportation industry. Strict containment measures imposed by governments of various countries and preventive measures to control the impact of the outbreak have led to a significant restriction in transportation, driving a knock-on effect globally. This is creating a demand and supply gap, thereby resulting in reduced production of processed eggs. This trend is expected to continue owing to the uncertainty in the global market and measures to address the supply/demand imbalance.
The demand for processed eggs is increasing from end-use industries such as food & beverages, personal care, pet food, among others. The preference for convenience food products is increasing among consumers, which is expected to boost the growth ofthe processed eggs market. Processed eggs contain significant amounts of vitamin D, iron, calcium, and minerals; therefore, they have applications in various food products. Moreover, it is used as a binding agent in baked products because of its protein content. Besides those, eggs also add flavor, texture, richness, and color to the baked goods. Processed eggs also have various pet food industry applications as it is used in pet food products as a binding agent. Also, owing to its micronutrient properties, it provides numerous health benefits in animals, such as boosting digestion and enhancing bone growth in animals.
Furthermore, processed eggs havevarious applications in the personal care industry. This creates greater opportunities for the manufacturers operating in the processed eggs market. Owing to the wide application range of processed eggs, the supply chain of processed eggs is witnessing consistent growth over the past few years and is expected to continue during the forecast period.
The bakery industry across the globe is experiencing robust growth. This growth is primarily driven by rapidly evolving consumer preferences for product varieties in terms of taste, flavors, and freshness. Evolving consumer preferences contribute to the sector growth as the food industry has the highest levels of product innovation. In mature markets, the growth is primarily driven by changing lifestyles and increasing demand for comfort food. The growth in such markets is driven by increased health consciousness among consumers and increased consumption of indulgence food. Europe and North America are the major markets for the bakery industry generating maximum revenues. However, Asia-Pacific is anticipated to be the fastest-growing region for revenue generation. Hence, with the increasing consumption of bakery products and overall growth of the bakery industry, the processed eggs market is expected to boost during the review period.
The trend of adopting a healthy lifestyle is rapidly increasing among consumers. Unhealthy lifestyles contribute to the spread of obesity, diabetes, and cardiovascular diseases, compelling consumers to adopt healthy eating. Healthy eating may be best achieved with a plant-based diet, which is usually defined as a regimen that encourages whole, plant-based food and discourages meats, dairy products, and eggs as well as all refined and processed foods. Growing concern for animal welfare, human health, and the environment have led to the rising trend of veganism which has become mainstream now. Veganism is associated with various beneficial health effects such as better heart health, improved diabetes, and lower rates of obesity, among others. Israel, Sweden, Japan, Poland, the US, Germany, and the UK have the largest concentration of vegans. The prevalence of social media and the explosion of vegan celebrities in recent years hasplayed a major role in influencing people and proved as themain driving force behind the vegan movement. Thus, the increasing adoption of a vegetarian and vegan diet hinders the growth of the processed eggs market.
Wheat allergy can develop in individuals from products containing wheat. A wheat allergy occurs when the body produces antibodies for proteins found in wheat. If an individual has a wheat allergy, exposure to wheat proteins will lead the immune system toan allergic reaction. Allergy to any four classes of wheat proteins, globulin, albumin, gliadin, and gluten, can be developed. In celiac disease, a specific protein in wheat, gluten, causes an abnormal immune system reaction. Wheat allergies can create many difficulties in humans including, chest pain or tightness, severe difficulty breathing, nasal congestion, trouble swallowing, and many more. The numerous difficulties caused by wheat protein allergies and increasing awareness about wheat allergies among consumers create huge growth opportunities for processed eggs.
Liquid processed eggs are highly unstable for long-term storage and arevery difficult to be transported. Transportation and storage of liquid processed eggs incur a high cost. There is a need for quick transportation of by-products to avoid spoilage. There is a high level of difficulty in the collection, storage, and transportation process of processed eggs, especially liquid ones. Thus, it can be a challenging factor for the market.
By Product Type
Based on product type, the global processed eggs market has beendivided into egg powder, liquid egg, and frozen egg. The egg powder segment accounted for the largest market share in 2020.Egg powder is an amorphous, spray-dried, and free-flowing substance containing a large number of proteins. Egg powder is quickly soluble in water, off-white in color, and low in fat. It has low production costs associated with energy consumption, operation, and labor, supporting market growth. Furthermore, the demand for egg powder is more than liquid egg owing to the ease of transportation, a longer shelf-life, and easy storage.Owing to the numerous benefits provided by egg powder, the market for the same has the largest market share and is expected to be the same for the forecast period.
Based on application, the global processed eggs market has been segmented into food and beverages, personal care, and others. The food & beverages segment accounted for the largest market share in 2020.This segment is further bifurcated into bakery &confectionery, sauces, dressings & spreads, sweet & savory snacks, and others. Processed eggs find widespread application in food & beverages. Consumer inclination toward protein-rich food products is driving the growth of the segment. The rising demand for functional beverages can increase health consciousness and consumer inclination toward healthy drinks, which have led key players to launch products with various health-promoting ingredients. This is boosting the sales of processed eggs in the beverage industry.
Global Processed Eggs Market Share, by Region, 2020 (%)
Source: MRFR Analysis
The global processed eggs market has been studied for North America, Europe, Asia-Pacific, and the rest of the world. North America accounted for the largest market share of 36.41% in 2020. Asia-Pacific captured the second-largest market and is expected to register the fastest growth rate from 2021 to 2028.
North America Market
North America accounted for the largest market share in the global processed eggs market and is expected to continue the same position during the forecast period. The consumers in the region are inclining towards health-benefiting products owing to the increasing health consciousness among consumers. Especially in the personal care industry, millennials are inclined toward cosmetic products manufactured withnatural ingredients. This is expected to fuel the growth ofthe processed eggs market in the region, as they are rich in proteins and provides numerous health benefits. Additionally, increasing disposable income of the consumers is also expected to drive the market growth over the forecast period, as consumers are looking for more protein-enriched products. Consequently, manufacturers are focusing onadding products such as processed eggs in the portfolio and ingredient choices.
Asia-Pacific is anticipated to grow at the fastest rate during the forecast period. Consumers are increasingly adopting healthy lifestyles and inclining towards health-benefiting products. Also, the awareness about numerous health benefits provided by egg protein is increasing among consumers, encouraging manufacturers to focus on the usage of processed eggs in various products. Furthermore, the demand for processed eggs is increasing in the production of body-building products for muscle gain, which is further expected to boost the market growth in the region.
The market comprises tier-1 players along with some local players with diverse product portfolios. Companies such as Tyson Foods, Inc. (US), Cal-Maine Foods (US), Michael Foods Inc.(US), and Global Eggs Corporation (Canada) dominate the global market due to brand reputation, product differentiation, financial stability, and strong distribution network.The players are focused on lowering their environmental footprint and investing in research and development along with strategic growth initiatives such as acquisitions and mergers to strengthen their market position and capture a large customer base.
Prominent players in the global processed eggs market include Tyson Foods, Inc. (US), Rembrandt Enterprises, Inc. (US), Michael Foods Inc.(US), Global Eggs Corporation (Canada), Cal-Maine Foods (US), SKM Egg Products Export (India), Ballas Egg (US), Daybreak Foods, Inc. (US), Noble Foods Ltd. (UK), and Rose Acre Farms, Inc. (US).
Scope of the Report
Global Processed eggsMarket, by Product Type
Global Processed eggs Market, by application
Global Processed eggsMarket, by Region