Impact Analysis of Covid-19
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
The increasing awareness regarding health benefits of eggs such as presence of protein and vitamins among others is expected to drive growth of the egg processing market across the globe. The increasing demand for eggs from the food industry is another factor contributing to the market growth. According to the U.S. Department of Agriculture, in 2012, the per capita consumption of egg was 254 per person per year which increased and reached 279 eggs per person per year in 2017.
The global egg processing market is projected to surpass US$ 40.2 billion by the end of 2027, in terms of revenue, growing at CAGR of 4.3% during the forecast period (2020 to 2027).
The increasing demand for eggs is expected to boost the growth of the global egg processing market. As per the UN Food and Agriculture Organization, in 2014, the egg consumption in the U.K was 10.66 kg per capita which increased and reached 11.23 kg per capita in 2017. Moreover, as per the same source, China recorded egg consumption of 18.63 kg per capita in 2014 which increased and reached 22.72 kg per capita by 2017.
Regionally, Asia Pacific dominated the global egg processing market in 2019, reporting 56% market share in terms of revenue.
Figure 1. Global Egg Processing Market, Revenue Share (%), By Region, 2019
The increasing health awareness and adherence to vegan diet is expected to hamper the growth of the global egg processing market during the forecast period.
Egg Processing Market Report Coverage
||Market Size in 2019:
||US$ 28.6 Bn
|Historical Data for:
||2016 to 2019
||2020 to 2027
|Forecast Period 2020 to 2027 CAGR:
||2027 Value Projection:
||US$ 40.2 Bn
- North America, Latin America, Europe, Asia Pacific, Middle East and Africa
- By Product Type: Dried Egg Products, Liquid Egg Products and Frozen Egg Products
- By Application: Bakery & Confectionery, Dairy Products, Ready-to-Eat, Soups & Sauces and Others
Avril, Cal-Maine Foods, Inc., Eurovo S.R.L., Lactosan-Sanovo Holding A/S, Moba B.V. and ACTINI GROUP
- Increasing demand for consumption of eggs
- Increasing awareness regarding the various health benefits of processed eggs
|Restraints & Challenges:
- Increasing awareness regarding healthy living and higher intake of vegan food products
Key players are focusing on launching new products to create growth opportunities at a global level. For instance, in September 2018, SKM Egg Products introduced egg white cubes in India. These cubes are made from egg white cube which can be used in various food items or as a ready-to-eat meal. Moreover, these egg white cubes are zero-fat and zero-cholesterol products which is expected to attract a larger consumer base during the forecast period and help the company in increasing its market position.
Figure 2. Global Egg Processing Market – Opportunity Analysis
The increasing demand for processed food across the globe is another trend which can favor the growth of the egg processing market. Demand for processed food is growing in urban areas owing to the rising disposable income and working middle class population. As per the Organization for Economic Cooperation and Development, disposable income in China increased to US$ 5,278.3 in 2017 from US$ 3562.2 in 2012. Moreover, consumer spending in India increased to US$ 270.48 billion in 2018 from US$ 63.67 billion in 2004. Similarly, consumer spending in the U.S. increased from US$ 11,971.9 billion in 2015 to US$ 12,847.82 billion in 2018.
Figure 3. Global Egg Processing Market, Revenue Share (%), By Application, 2019
Based on application, the egg processing market is segmented into bakery & confectionery, dairy products, ready-to-eat, soups & sauces, and others. In 2019, bakery and confectionery segment accounted for 29% of the revenue share.
Global Egg Processing Market - Impact of Coronavirus (Covid-19) Pandemic
Coronavirus (Covid-19) has majorly impacted the food & beverages industry and in turn has changed the dynamics of entire ecosystem including raw material suppliers, supplying food ingredients. Lockdown in various nations such as India, China and Spain, among others and cease in the subsequent trade activities has paralyzed the supply chain. Increasing spread of Covid-19 has mandated the manufacturers to deploy precautionary measures in their facilities including labors and plant controllers screening and monitoring, and sanitizing the facilities.
Key players are operating in the global Egg Processing market are Avril, Cal-Maine Foods, Inc., Eurovo S.R.L., Lactosan-Sanovo Holding A/S, Moba B.V. and ACTINI GROUP