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Egg Products Market Analysis- Industry Size, Share, Research Report, Insights, Covid-19 Impact, Statistics, Trends, Growth and Forecast 2024-2032

Published Date: April, 2024
Base Year: 2023
Delivery Format: PDF+ Excel
Historical Year: 2017-2023
No of Pages: 263
Forecast Year: 2024-2032
SKU 137622cbe60d Category

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The global egg products market has been experiencing steady growth in recent years, driven by an increasing demand for protein-rich and healthy food products. Eggs are a rich source of essential nutrients, such as vitamins, minerals, and high-quality protein, making them an important part of a healthy diet. Egg products are processed eggs that have been removed from their shells, and are available in various forms such as liquid, powder, and frozen. These products are used extensively in food processing industries, as well as in the foodservice and retail sectors.

Egg products are derived from eggs that have been processed to remove the shells, and are available in various forms such as liquid, powder, and frozen. These products are used in a wide range of food applications, including bakery, confectionery, snacks, and ready-to-eat meals. Egg products offer several benefits over shell eggs, including longer shelf life, easier handling, and reduced risk of foodborne illnesses.

Executive Summary

The global egg products market is expected to grow at a CAGR of over 4% during the forecast period (2021-2026). The key drivers of this growth include the increasing demand for protein-rich and healthy food products, as well as the growing use of egg products in food processing industries. The market is also being driven by factors such as rising disposable incomes, changing dietary habits, and increasing consumer awareness about the health benefits of eggs. However, the market is also facing several challenges, including volatile raw material prices, strict regulations, and increasing competition from plant-based protein sources.

Egg Products Market

Key Market Insights

  • The global egg products market is expected to reach a value of USD 33.5 billion by 2026.
  • Liquid egg products are the largest product segment, accounting for over 60% of the market share.
  • The food processing industry is the largest end-use segment, accounting for over 50% of the market share.
  • Asia Pacific is the largest market for egg products, driven by the growing demand from countries such as China and India.

Market Drivers

  1. Increasing demand for protein-rich and healthy food products: The growing awareness about the health benefits of eggs, such as their high-quality protein content, is driving the demand for egg products. Eggs are also a rich source of several essential nutrients, such as vitamins and minerals, making them an important part of a healthy diet.
  2. Growing use of egg products in food processing industries: Egg products are widely used in food processing industries, due to their functional properties such as emulsification, foaming, and binding. These products are used in a wide range of food applications, including bakery, confectionery, snacks, and ready-to-eat meals.
  3. Rising disposable incomes: The increasing disposable incomes of consumers in developing countries is driving the demand for egg products. As consumers become more affluent, they are more likely to include high-quality protein sources, such as eggs, in their diets.

Market Restraints

  1. Volatile raw material prices: The prices of raw materials used in egg product manufacturing, such as eggs and egg yolks, are highly volatile. This can lead to fluctuations in the cost of egg products, which can impact the profitability of manufacturers.
  2. Strict regulations: The egg products market is highly regulated, with strict food safety and quality standards that must be met. These regulations can be a barrier to entry for new players in the market, as they require significant investments in research and development and quality control.
  3. Increasing competition from plant-based protein sources: The growing popularity of plant-based protein sources, such as soy and pea protein, is posing a challenge to the egg products market. These alternative protein sources offer several benefits over eggs, including lower production costs, a lower environmental footprint.

Market Opportunities

  1. Growing demand for organic and cage-free egg products: The increasing consumer demand for organic and cage-free egg products is creating new opportunities for manufacturers in the egg products market. Consumers are becoming more conscious about the welfare of animals, and are willing to pay a premium for products that meet higher animal welfare standards.
  2. Increasing demand from the foodservice sector: The foodservice sector is a key end-use segment for egg products, and is expected to continue to drive growth in the market. The growth of the foodservice sector is being driven by factors such as changing dietary habits, increasing urbanization, and rising disposable incomes.

Market Dynamics

The egg products market is highly competitive, with a large number of players operating in the market. The market is characterized by intense competition, with players competing on factors such as price, quality, and innovation. The market is also highly consolidated, with a few large players accounting for a significant share of the market. However, there are also several small and medium-sized players operating in the market, which are driving innovation and competition.

Regional Analysis

The Asia Pacific region is the largest market for egg products, driven by the growing demand from countries such as China and India. The region is expected to continue to dominate the market during the forecast period, due to factors such as rising disposable incomes, changing dietary habits, and increasing consumer awareness about the health benefits of eggs. The North American and European markets are also significant markets for egg products, due to the high consumption of eggs in these regions.

Competitive Landscape

The global egg products market is highly competitive, with a large number of players operating in the market. Some of the key players in the market include:

  1. Tyson Foods, Inc.
  2. Cal-Maine Foods, Inc.
  3. Michael Foods, Inc.
  4. Rose Acre Farms, Inc.
  5. Noble Foods Group Ltd.
  6. Eurovo S.R.L.
  7. Venky’s (India) Limited
  8. Sanovo Technology Group
  9. Moba B.V.
  10. Farm Pride Foods Ltd.

Segmentation

The global egg products market can be segmented based on product type, application, and region.

By Product Type:

  1. Liquid Egg Products
  2. Dried Egg Products
  3. Frozen Egg Products

By Application:

  1. Food Processing Industry
  2. Foodservice
  3. Retail

By Region:

  1. North America
  2. Europe
  3. Asia Pacific
  4. Latin America
  5. Middle East and Africa

Category-wise Insights

  1. Liquid Egg Products: The liquid egg products segment is the largest product segment, accounting for over 60% of the market share. This segment is expected to continue to dominate the market during the forecast period, due to factors such as convenience, longer shelf life, and ease of handling.
  2. Food Processing Industry: The food processing industry is the largest end-use segment for egg products, accounting for over 50% of the market share. This segment is expected to continue to drive growth in the market, due to the growing use of egg products in a wide range of food applications, such as bakery, confectionery, snacks, and ready-to-eat meals.

Key Benefits for Industry Participants and Stakeholders

  1. Increased profitability: The growing demand for egg products is creating new opportunities for manufacturers, which can lead to increased profitability.
  2. Diversification of product portfolio: Egg products offer manufacturers an opportunity to diversify their product portfolio, and to offer consumers a wider range of products.
  3. Meeting changing consumer demands: Egg products offer manufacturers an opportunity to meet changing consumer demands for healthy and convenient food products.

SWOT Analysis

Strengths:

  • Eggs are a rich source of essential nutrients, making egg products an important part of a healthy diet.
  • Egg products offer several benefits over shell eggs, including longer shelf life, easier handling, and reduced risk of foodborne illnesses.
  • The growing demand for protein-rich and healthy food products is driving the demand for egg products.

Weaknesses:

  • The egg products market is highly regulated, with strict food safety and quality standards that must be met. This can be a barrier to entry for new players in the market.
  • The prices of raw materials used in egg product manufacturing, such as eggs and egg yolks, are highly volatile. This can lead to fluctuations in the cost of egg products, which can impact the profitability of manufacturers.

Opportunities:

  • The increasing demand for organic and cage-free egg products is creating new opportunities for manufacturers in the egg products market.
  • The growing demand from the foodservice sector is expected to continue to drive growth in the market.

Threats:

  • Increasing competition from plant-based protein sources is posing a challenge to the egg products market.
  • The market is highly consolidated, with a few large players accounting for a significant share of the market. This can make it difficult for new players to enter the market.

Market Key Trends

  1. Increasing demand for organic and cage-free egg products: Consumers are becoming more conscious about the welfare of animals, and are willing to pay a premium for products that meet higher animal welfare standards. This is creating new opportunities for manufacturers in the egg products market.
  2. Rising demand from the foodservice sector: The growth of the foodservice sector is expected to continue to drive growth in the egg products market. This is being driven by factors such as changing dietary habits, increasing urbanization, and rising disposable incomes.

Covid-19 Impact

The Covid-19 pandemic has had a mixed impact on the egg products market. While the initial impact of the pandemic was negative, with disruptions in supply chains and a decline in demand from the foodservice sector, the market has since recovered. The pandemic has also led to a shift in consumer behavior, with consumers increasingly opting for healthy and convenient food products, which has benefited the egg products market.

Key Industry Developments

  1. Tyson Foods, Inc. announced in 2020 that it was expanding its line of egg products with the launch of a new plant-based egg product, called Raised & Rooted Just Egg.
  2. Cal-Maine Foods, Inc. announced in 2020 that it was acquiring Mahard Egg Farm, a leading producer of shell eggs and egg products in Texas.

Analyst Suggestions

  1. Manufacturers should focus on innovation and product development, in order to meet changing consumer demands for healthy and convenient food products.
  2. Manufacturers should also focus on meeting higher animal welfare standards, in order to meet the growing demand for organic and cage-free egg products.

Future Outlook

The global egg products market is expected to continue to grow during the forecast period, driven by factors such as increasing demand for protein-rich and healthy food products, and rising demand from the foodservice sector. However, the market is also facing several challenges, including volatile raw material prices, strict regulations, and increasing competition from plant-based protein sources. Manufacturers will need to focus on innovation and product development, in order to meet changing consumer demands and to stay competitive in the market.

Conclusion

The global egg products market is a dynamic and highly competitive market, driven by the increasing demand for protein-rich and healthy food products, and the growing use of egg products in food processing industries. The market is facing several challenges, including volatile raw material prices and increasing competition from plant-based protein sources.

However, the market is also experiencing several opportunities, including the growing demand for organic and cage-free egg products, and rising demand from the foodservice sector. Manufacturers will need to focus on innovation and product development, in order to meet

Egg Products Market:

Segmentation Details
Product Type Liquid Eggs, Dried Eggs, Frozen Eggs, Others
Application Bakery, Confectionery, Food Service, Others
Region North America, Europe, Asia Pacific, Latin America, Middle East & Africa

Leading Companies in the Egg Products Market:

  1. Cal-Maine Foods, Inc.
  2. Rose Acre Farms, Inc.
  3. Rembrandt Foods
  4. Michael Foods, Inc. (Post Holdings, Inc.)
  5. Sanovo Technology Group
  6. Eurovo Group
  7. SANOVO TECHNOLOGY GROUP (South Europe) S.r.l.
  8. Hickman’s Family Farms
  9. Hillandale Farms
  10. Daybreak Foods, Inc.

North America
o US
o Canada
o Mexico

Europe
o Germany
o Italy
o France
o UK
o Spain
o Denmark
o Sweden
o Austria
o Belgium
o Finland
o Turkey
o Poland
o Russia
o Greece
o Switzerland
o Netherlands
o Norway
o Portugal
o Rest of Europe

Asia Pacific
o China
o Japan
o India
o South Korea
o Indonesia
o Malaysia
o Kazakhstan
o Taiwan
o Vietnam
o Thailand
o Philippines
o Singapore
o Australia
o New Zealand
o Rest of Asia Pacific

South America
o Brazil
o Argentina
o Colombia
o Chile
o Peru
o Rest of South America

The Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Israel
o Kuwait
o Oman
o North Africa
o West Africa
o Rest of MEA

Important Questions Covered in this Study

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