by The egg processing market involves processing fresh eggs into value-added products like dried egg products, frozen egg products, and liquid egg products. Processed egg products have a longer shelf life as compared to fresh eggs and are thus, convenient to use. They are typically used in food processing applications in bakery, confectionery, soups and sauces, dairy and others. Some key advantages of processed egg products are that they have consistent quality and texture, are easy to store and transport, and save preparation time. Their uniform quality and composition enable manufacturers to control recipes and formulations precisely. The emerging trend of processed and convenience foods has been a major driver for the increasing demand of processed egg products globally.
The global 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 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends in the egg processing market has been the rising demand for cage-free and organic eggs. With growing consumer awareness about animal welfare and demand for natural products, there is a preference for eggs produced from cage-free hens fed organic and vegetarian diets. This has prompted egg producers to shift to the cage-free and organic production system. Another significant trend is the expansion of application areas of processed egg products. Traditionally used mainly in bakery and confectionery applications, processed eggs are now increasingly finding new uses in dishes, sauces, dressings, mayonnaise, pasta, snacks and more. Manufacturers are developing various specialty egg products targeted towards specific preparation methods and culinary styles. Furthermore, the rise of veganism and plant-based foods has led to increased demand for egg-free or vegan alternatives as well, including plant-based scrambled eggs and mayonnaise.
Porter’s Analysis
Threat of new entrants: The threat of new entrants is moderate as the egg processing market requires significant investments in manufacturing facilities and cold chain infrastructure and established distribution channels.
Bargaining power of buyers: The bargaining power of buyers is high as the egg products are commodities and buyers can easily switch between suppliers depending on price and quality.
Bargaining power of suppliers: The bargaining power of suppliers is moderate as there are many suppliers in the market and switching costs for suppliers are low.
Threat of new substitutes: The threat of new substitutes is low as egg is a unique source of protein that is not easily substitutable.
Competitive rivalry: The competitive rivalry is high due to the presence of many national and international players operating in the market.
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 consumer preference for processed and packaged foods. The market size for 2023 is US$ 51.9 Bn.
Regional analysis: North America dominates the global egg processing market, owing to high egg consumption, stringent food safety regulations and presence of key players in the region. Asia Pacific is expected to witness fastest growth during the forecast period due to growing population, rising disposable income and changing dietary patterns in the region.
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. Key players are focusing on offering diversified product range, engaging in mergers and acquisitions to enhance their production capabilities and geographical footprint.
