The global egg powder market is expected to witness substantial growth during the forecast period due to the long shelf life of the product. Egg powder is convenient to store as compared to whole eggs which are fragile. Additionally, there is no need to refrigerate unopened powdered egg packages. There are three types of egg powders available in the market, namely, whole egg powder (WEP), egg yolk powder (EYP), and egg albumin powder (EAP). Increasing egg consumption in developing countries due to its nutritional value is expected to be the primary factor for the growth of the global egg powder market during the forecast period of 2018 to 2023. The growth of the bakery and confectionery goods industries is also expected to fuel the sales of egg powder at a global level. However, the rising prevalence of egg allergies is expected to hinder the growth of the global egg powder market during the review period.
The foodservice industry plays a key transitional role between producers and processors at one end and consumers at the other. The increasing competition and applications in the foodservice industry create a multitude of opportunities for manufacturers of egg powder. The consumption of bakery and confectionery products has been increasing in both developed and developing economies. Population growth in developing economies is one of the significant factors for the rising consumption of bakery and confectionery products. Rising per capita disposable income and consumer exposure to a wide range of baked goods are also contributing to the growth of the market.
The egg powder market is competitive with major market players operating at the global level. The key industry players in the global egg powder market have adopted strategies such as acquisitions, geographic expansion, product launches, and joint ventures to strengthen their position. Most of the companies operating in this market are focusing on acquisitions to expand their regional presence. Moreover, the companies have been investing in R & D to offer enhanced products with better functionality.
Product promotions through e-commerce channels have the potential to enhance consumer knowledge and increase sales. E-commerce platforms also act as a strong distribution channel in today’s scenario. In addition, celebrity endorsements play a vital role in the increasing sales of products as they enhance product recognition among consumers.
Based on region, the global egg powder market has been segmented into North America, Europe, Asia-Pacific, and the rest of the world. Europe is expected to retain its dominance during the forecast period. The regional market is estimated to reach USD 456.1 million by 2023 registering a CAGR of 4.13%. Germany is projected to account for the largest European market share of 27.74% in 2018 and remain the largest country-level market during the forecast period. The egg powder market in Asia-Pacific is projected to register the highest CAGR of 5.65% to reach USD 325.4 million by 2023. China is projected to account for the maximum market share of nearly 45% in the Asia Pacific egg powder market in2018. However, the Indian market is projected to register the highest CAGR of 7.05%.
Based on type, the global egg powder market has been segmented into WEP, EYP, and EAP. WEP is expected to be the largest market during the forecast period, while the EYP segment is projected to grow with the highest CAGR. By application, the global egg powder market has been divided into bakery and confectionery, noodles and pasta, mayonnaise and salad dressing, meat and fish, and others.
The leading market players in the global egg powder market are SKM Egg Products Export (India) Ltd (India), Rose Acre Farms, Inc. (US), Pulviver SpRl (Belgium), Ovostar Union NV (Netherlands), Adriaan Goede BV (Netherlands), Agroholding Avangard (Ukraine), Bouwhuis Enthoven BV (Netherlands), Rembrandt Enterprises, Inc. (US), IGRECA SA (France), and Interovo Egg Group BV (Netherlands).
• Food & beverage manufacturers
• Bakeries and confectioneries
• Food supplement manufacturers
• Application industries
• Retailers and wholesalers
• Bodybuilding supplement manufacturers
• Traders, importers, and exporters
• The WEP type segment is expected to dominate the global egg powder market during the review period due to the versatile applications of this type of egg powder in the production of biscuits, cakes, bakery mixes, ready meals, meat products, pasta, sauces, and salad dressings.
• The bakery and confectionery application segment is projected to be the largest due to high demand for egg powder in bakery mixes, biscuits, cakes, and pastries. This segment is projected to register a CAGR of 4.29% during the forecast period.
• Europe is expected to be the largest regional market for egg powder, accounting for an estimated 38% of the market share in 2018, followed by North America with a 27% share; The market in Asia-Pacific is projected to exhibit the highest CAGR of 5.65%.
• The global egg powder market is estimated to reach USD 1,201.5 million by 2023 registering a CAGR of 4.34%.
The report also offers a country-level analysis:
• North America
o Rest of Europe
o Rest of Asia-Pacific
• Rest of the World
o Latin America
o Middle East