Eggs are processed and packaged to extend their shelf life and provide convenience to customers. The major egg processing products include dried egg products, liquid egg products, and frozen egg products. Dried egg products are made by dehydrating the egg and mainly used as ingredients in baked goods, noodles, and other prepared foods. Liquid egg products involve processing fresh eggs into egg white, egg yolks, and whole eggs which are packaged in cartons, bottles, or bags. Frozen egg products involve freezing whole eggs or breaking them and then freezing the whites and yolks separately. These processed products find applications in foodservice, food ingredients, and retail applications.
The Egg Processing market is estimated to be valued at US$ 51.9 Bn in 2023 and is expected to exhibit a CAGR of 5.8% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
The demand for packaged and convenience food products is growing rapidly owing to busy lifestyles and rising disposable income. Processed egg products offer convenience benefits such as long shelf life, ease of use, and consistent quality. This drives the demand for processed egg products from foodservice operators and food manufacturers. Additionally, the egg processing industry is trying to reduce its carbon footprint by adopting sustainable and eco-friendly processing technologies such as egg breakers that use less water and energy. Growing health-consciousness is also pushing demand for egg white products with low cholesterol. The egg processing market players are focusing on developing varied product offerings to satisfy the requirements of different application segments. However, price volatility of raw eggs remains a key challenge for the market.
SWOT Analysis
Strength: Egg processing has three main strengths - it offers quality protein, versatility in applications, and growing demand for egg products. Processed egg products extend shelf life and allow for use in packaged foods. Weakness: Egg processing requires large capital investments in facilities, equipment and cold storage. It also faces increased feed and labour costs. Opportunities: Growing demand for allergen-free, vegan, and plant-based foods presents an opportunity. There is also opportunity in developing countries with growing populations and incomes. Threats: Avian influenza outbreaks threaten supply and increase costs. Stricter environmental and food safety regulations also increase compliance costs.
Key Takeaways
The global egg processing market is expected to witness high growth, exhibiting CAGR of 5.8% over the forecast period, due to increasing demand for protein-rich and convenient foods. The egg processing market size for 2023 is US$ 51.9 Bn.
Regional analysis related content comprises The North American region currently dominates the global egg processing market, accounting for over 35% share. However, the Asia Pacific region is expected to exhibit highest CAGR of over 7% during the forecast period due to rapid urbanization and changing lifestyles in major economies like China and India.
Key players related content comprises Key players operating in the egg processing market are Avril, Cal-Maine Foods, Inc., Eurovo S.R.L., Lactosan-Sanovo Holding A/S, Moba B.V., and ACTINI GROUP. These players are focusing on capacity expansion and product innovation to cater to the growing demand for processed egg products.
