by The egg processing market involves breaking whole eggs and separating them into various products such as egg yolks, egg whites and shell residues. Processed egg products find wide applications in food preparations due to their functional properties like foaming, binding, emulsification and coagulation. For industrial applications, processed egg products offer consistency, uniformity and convenience. The growing food processing industry relies heavily on processed eggs for baked goods, pasta, mayonnaise and other food products. Changing consumer preferences towards convenient and packaged food items is also fueling the demand for processed eggs. The global Egg Processing Market is estimated to be valued at US$ 51.9 Bn in 2024 and is expected to exhibit a CAGR of 5.8% over the forecast period 2024-2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends in the egg processing market is the increasing demand for allergen-free and specialty egg products. With growing health awareness, there is rising demand for egg products free from allergens like soy, gluten, dairy etc. Players in the egg processing market are innovating and launching specialized egg products tailored for customers with specific dietary requirements or medical conditions. For instance, companies offer eggs processed from allergen-free chickens to produce eggs free from common allergens like wheat or soy. There is also a rise in demand for specialty eggs with added health benefits like omega-3 enriched or high protein eggs. Egg processors are leveraging these trends by expanding their product portfolios to cater to niche customer segments.
Porter’s Analysis
Threat of new entrants: The threat of new entrants is moderate as significant capital investments are required to set up processing plants and gain a foothold in the egg processing market due to stringent quality and safety regulations. However, the growing demand opens up opportunities.
Bargaining power of buyers: The bargaining power of buyers is high given the presence of many producers and buyers in the fragmented market. Buyers can negotiate on price points by demanding bulk orders.
Bargaining power of suppliers: Egg suppliers have moderate bargaining power due to the perishable nature of eggs. However, large suppliers have more influence over prices.
Threat of new substitutes: The threat of substitutes is low as eggs have protein benefits and are versatile ingredients, with limited direct substitutes in various applications and recipes.
Competitive rivalry: Competition is moderately intense with the presence of large processors focusing on branding and product innovation to remain competitive.
Key Takeaways
The global egg processing market is expected to witness high growth. The market size is projected to reach US$ 51.9 Bn by 2024, registering a CAGR of 5.8% during the forecast period.
Regional analysis: North America dominates the global egg processing market currently, owing to high egg consumption. Asia Pacific is expected to witness the fastest growth over the forecast period supported by rising food industry and increasing disposable incomes in countries like China and India.
Key players: 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. These companies are focusing on expanding their product portfolios and geographic footprint through mergers and acquisitions.
