The global egg packaging market was valued at US$ 4,923.8 million in 2020, according to the Global Egg Packaging Market Report, by Material Type (Paper (Paperboard, Recycled, Molded cup, and Others), Plastic (Polyethylene, Terephthalate, Polystyrene, and Others), and Others), by Packaging Type (Egg Cartons, Egg Trays, and Others), and by Region (North America, Latin America, Asia Pacific, Europe, Middle East and Africa) published by Coherent Market Insights.
The global egg packaging market is expected to surpass US$ 7,671.8 Million by 2028 and exhibit a CAGR of 5.7% during the forecast period (2021-2028). Egg packaging is a type of material designed specifically for the safe storage and transportation of eggs. Egg packaging solutions include cartons, trays, baskets, and containers, to name a few. They are manufactured by using paperboard, recycled paper, polyethylene terephthalate, or polystyrene. These materials are practical and aid in the absorption of stress or shock caused by handling or transporting eggs. The egg packaging also protects the eggs from bacteria, tainting, natural predators, and moisture loss. All of these advantages have boosted the egg packaging demand.
To know the latest trends and insights prevalent in this market, click the link below:
https://www.coherentmarketinsights.com/market-insight/egg-packaging-market-2705
Browse 25 market data tables* and 20 figures* on "Global Egg Packaging Market” – Forecast to 2028
Global Egg Packaging Market - Impact of Coronavirus (COVID-19) Pandemic
Since March 2020, almost every industry in the world has suffered from the COVID-19 pandemic. This can be attributed to significant disruptions in their respective manufacturing and supply-chain operations as a result of various precautionary lockdowns and other restrictions imposed by governments all over the world. The same applies to the global egg packaging market. Consumer demand has decreased as people are now more focused on removing non-essential expenses from their budgets as the general economic situation of most people has been severely impacted by the outbreak. These factors are expected to have a negative impact on the global egg packaging market's revenue trajectory over the forecast period. The COVID-19 pandemic has also changed the buying pattern of consumers. Measures such as nationwide lockdown had led panic buying of food and hygiene products. Nestle S.A., a food and drink company, had reported quarterly growth in sales of 4.3% in North America and Europe in April 2020, as against the previous quarter. As per Coherent Market Insights (CMI), this is the highest growth in sales of the company in the past five years, which resulted as an outcome of panic buying. In the first quarter of 2020, Kraft Heinz Company's net sales increased by 3.3 % over the first quarter of 2019, owing to the sudden increase in the packaged food segment due to the pandemic.. This has influenced the market for packaging products and solutions.
Key Trends and Analysis of the Global Egg Packaging Market:
- Among regions, Asia Pacific accounted for 47.3% market share in 2020 in the global egg packaging market
- Due to intense competition among market players, manufacturers are shifting their focus to novel packaging to attract consumer interest and provide an effective solution for the storage and transportation of eggs in bulk. Effective packing protects the quality of eggs and aids in the absorption of shock and stress during transit, thereby lowering the risk of egg waste. For instance, in 2015, Huhtamaki, a major food packaging business, introduced an innovative molded fiber egg packaging solution made up of 50% grass fibers. Molded fiber packaging protects eggs from moisture and shock in the event of high pressure or temperature changes.
- Eggs are easy carry in egg cartons, paperboard, molded cup, etc. which are lightweight, allowing for maximum functionality. This is expected to be a significant growth driver for the global egg packaging market. The cost of storing and transporting eggs is expected to decrease as a result of innovative developments in the design of egg cartons, paperboard, molded cup, etc., which is expected to fuel the egg packaging market growth.
Key Takeaways of the Market:
- Among material type, the paper sub-segment held a dominant position in the global egg packaging market in 2020
- Paper packaging is a flexible and cost-effective way to transport, protect, and preserve a wide range of items. It is lightweight and customizable to meet product or customer’s specific needs. Paper-based packaging protects eggs and reduces waste, and it is recyclable. Recycling waste paper and packaging reduces litter and landfill waste, and it prevents waste through breakage, spoilage, and contamination and extends the shelf life of products.
- Major players operating in the global egg packaging market include Hartmann, Tekni-Plex, MyPak Packaging, Dispak, Celluloses De La Loire (CDL), DFM Packaging Solutions, Ovotherm, Pactiv, Huhtamaki, and DAVA Foods.
