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Egg Protein market
Surge in awareness among consumers regarding the health benefits of consumption of protein supplements
Consumer awareness regarding a healthy diet and rise in demand for proteins as nutritional and functional ingredients have boosted the growth of the global egg protein market
” - Allied Market Research
PORTLAND, OR, US, October 12, 2023 /EINPresswire / -- Egg Protein Market by Type (Egg White Protein, Whole Egg Protein, and Egg Yolk Protein), Application (Food & Beverages, Nutrition, Personal Care & Cosmetics, Feed, and Others), and Form (Solid and Liquid): Global Opportunity Analysis and Industry Forecast, 2019–2026". According to the report, the global egg protein industry was pegged at $28.03 billion in 2019 and is projected to reach $38.90 billion by 2026, growing at a CAGR of 4.8% from 2019 to 2026.
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The growth of the egg proteins market is driven by increase in consumption in preparation of food products such as bakery, confectionery, snack products, processed meat, and seafood products. Furthermore, the demand is propelled by surge in need for nutritional food in the market. Owing to increase in awareness about the benefits offered by nutritional and health food products, consumers are shifting their focus toward healthy diets and are increasing their intake of protein to gain extra nutrition from the egg-based protein supplements, which significantly contributes toward the global egg protein market growth.
Top Key Players:
Cargill
Rose Acre Farms
Kewpie Corporation
Bouwhuis Enthoven Wulro BV
Rembrandt foods
Sanovo Egg Group
Igreca
Dalian Hanovo Foods Co., Ltd.
Interovo Egg Group BV
On the basis of application, the food & beverages segment garnered the highest share in 2018, and is estimated to growth with a CAGR of 4.2% during the egg protein market forecast period. However, the nutrition segment is expected to register the fastest growth in the near future. Surge in awareness about the health benefits of protein supplements among consumers in developing countries is expected to drive growth of the nutrition application segment.
On the basis of form, the solid segment held a significant share in the global market in 2018, and is likely to dominate the market throughout the forecast period, owing to its easy handling & dosage properties and prolonged shelf life. However, the liquid segment is expected to grow at higher CAGR, owing to increase in inclination of consumer toward the ready-to-drink protein supplements.
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The growth of the egg proteins market is driven by increase in consumption in preparation of food products such as bakery, confectionery, snack products, processed meat, and seafood products. Furthermore, the demand is propelled by surge in need for nutritional food in the market. Owing to increase in awareness about the benefits offered by nutritional and health food products, consumers are shifting their focus toward healthy diets and are increasing their intake of protein to gain extra nutrition from the egg-based protein supplements, which significantly contributes toward the global egg protein market growth.
Market Segmentation:
The nutrition segment is expected to register the fastest CAGR of 5.9% during the forecast period, due to its high nutritional content and increase in its demand in the developed countries. However, the food & beverage segment held the largest share in 2019, accounting for nearly half of the global egg protein market, owing to surge in the number of health-conscious consumers.
The egg proteins market is segmented on the basis of types, application, form, and region. On the basis of type, the egg white protein has been the most preferred choice of egg proteins among consumers, due to its high protein content and multifunctionality. Thus, the egg white protein segment was valued at $ 13,419.1 million, and is expected to grow with a CAGR of 4.2% from 2019 to 2026, to reach $ 18,774.8 million by 2026. However, the egg yolk protein segment is expected to grow at the highest rate during the forecast period. This is attributed to surge in demand for egg yolk protein powder from consumers wanting to gain weight.
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The global egg protein market across Europe, followed by North America, held the largest share in 2019, contributing to more than one-third of the market. However, the market across the Asia-Pacific region is expected to manifest the fastest CAGR of 6.3% during the forecast period, due to the development of the food & beverage industry and increase in awareness about nutritional supplements among consumers.
Key Benefits For Stakeholders
The report provides a quantitative analysis of the current egg protein market trends, estimations, and dynamics of the market size from 2018 to 2026 to identify the prevailing opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier–buyer network.
In-depth analysis and the market size and segmentation assists to determine the prevailing egg protein market opportunities.
The major countries in each region are mapped according to their revenue contribution to the market.
The market player positioning segment facilitates benchmarking and provides a clear understanding of the present position of the market players in the egg protein industry.
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