Newark, April 15, 2024 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the USD 1.95 Billion in 2023 egg powder market will reach USD 4.00 Billion by 2033. Egg powders are versatile, easy to work with, and have a long shelf life. Thus, it is anticipated that the market for this product will grow moderately over the forecast period. Furthermore, given the growing demand for "free-from" products, it is projected that manufacturers will be able to take advantage of this opportunity to produce new items in the egg powder market.
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Key Insight of the Egg Powder Market
Asia Pacific is anticipated to expand at the highest CAGR of 9.67% over the projection period.
Asia Pacific is expected to grow at the highest CAGR of 9.67% over the forecast period. Because of its thriving agricultural industry, the Asia-Pacific area offers a consistent and dependable supply of eggs that can be turned into powder. The consumption of food products with added value, such as egg powder, has been driven by the region's economic growth and development, which has also enhanced consumer purchasing power.
The whole egg powder segment is expected to register the highest CAGR of 10.87% over the projected period in the egg powder market.
The whole egg powder segment is anticipated to grow at the highest CAGR of 10.87% in the egg powder market. This market's significant expansion is also driven by the growing demand for convenient and nutrient-dense food products, which are in line with customer preferences for healthier options. The domination of whole egg powder reflects its versatility, nutritional content, and shelf life, making it an important player in the world market.
Over the projected period, the hypermarkets/supermarkets segment is expected to register the highest CAGR of 10.26% in the egg powder market.
Over the forecasted period, the hypermarkets/supermarkets segment is anticipated to grow at the highest CAGR of 10.26% in the egg powder market. It is because of its many uses in baked goods, processed meals, and culinary preparations. Supermarkets and hypermarkets effectively meet this demand by giving customers a place to get various goods, including egg powder.
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Market Dynamics
Driver: Variety and innovation in product
Maintaining a supply of innovation and product diversification is crucial for key players to ensure a significant share of market revenues. Many technologies have impacted the egg powder market, even though producers are focusing on unique and innovative tastes. Egg powder manufacturers have refocused to make more customer-focused products. This is an opportunity for manufacturers who want to try out new permutations and combinations and make unique products. Due to innovation-driven procedures, companies can develop a plan for manufacturing goods that satisfy customer demands and regularly launch new, fashionable products. The egg powder market will become more profitable in the upcoming years as companies innovate to acquire new capabilities. Naturally derived and "free-from" products have always been popular with customers and businesses in the food and beverage industry. The product's selling points have been and will continue to be the allergen-free, high-protein, and vegetarian qualities of egg white powder. Egg powder producers are likely to be keeping a careful eye on the opportunities developing in East Asia as food processing companies seek to leverage clean-label ingredients' high protein content to draw in an increasing number of health-conscious customers. The countries with the highest profit margins are still China, South Korea, and Japan's developing food processing industries. It is projected that the egg powder market will experience the emergence of a completely new set of applications in the years to come due to the continued requirement for innovative clean-label components. Manufacturers will utilise consumer-centric design concepts to produce products that will please consumers in response to the increased end-user demand for safe, high-quality ingredients.
Restraint: The possibility of contamination
Because eggs and egg powder carry a significant risk of contamination, the global egg powder market has grown slowly. There is always a chance that improper hygiene procedures could contaminate eggs, reducing the quality of raw eggs and processed egg products. Throughout the anticipated period, this factor is anticipated to limit the market's growth, particularly in Asia Pacific. The price of the essentials has also changed. Low-income families are kept out of the consumer chain since the cost of producing egg powder has grown due to the rising costs of agricultural grains in the area.
Some of the major players operating in the egg powder market are:
• Ovostar Union N.V.
• Bouwhuis Enthoven
• Venkys
• Jiangsu Kangde Egg Industry Co., Ltd.
• Kewpie
• Interovo Egg Group BV
• Avangardco
• Eurovo Group
• Farm Pride
• IGRECA
• Pulviver
• A.G. Foods
Key Segments cover in the market:
By Type:
• Egg Yolk Powder
• Whole Egg Powder
• Egg Albumen Powder
By Distribution Channel:
• Specialty Stores
• Business to Business
• Hypermarkets/Supermarkets
• Online Sales Channel
By Region
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
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About the report:
The market is analyzed based on value (USD Billion). All the segments have been analyzed worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyzes driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes porter's five forces model, attractiveness analysis, product analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
About The Brainy Insights:
The Brainy Insights is a market research company that provides actionable insights through data analytics to companies to improve their business acumen. They have a robust forecasting and estimation model to meet the client's objectives of high-quality output within a short period. They provide both customized (client-specific) and syndicate reports. Their repository of syndicate reports is diverse across all the categories and sub-categories across domains. Their customized solutions meet the client's requirements whether they are looking to expand or planning to launch a new product in the global market.
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