Due to the poultry sector’s tremendous progress in the last decade, the egg powder market has also grown considerably. The market has become highly productive. The ease of use and convenience provided by egg powders has increased the market’s size significantly. As egg powder can be stored and transported at room temperatures, it is being used in a wide range of applications. The growth of the food service industry is expected to be a powerful motivator for the growth of the market. The market is estimated to achieve revenues worth USD 1201.5 million by 2023 while expanding at a CAGR of 4.34 percent in the course of the forecast period from 2017 to 2023.
Escalating consumption of convenience food and intensifying demand for shelf stable food products also has contributed to the demand for egg powder. As a result of this, its consumptions in bakery and confectionery products preparations have been growing at a high pace both in developed & emerging economies which is motivating the growth of egg powder market. Moreover, the high shelf life of the product is majorly attracting the consumers dependent on egg protein. The use of different varieties of egg powder products in organized foodservice is expected to power the growth of the market through the forecast period. In addition, the growing promotional activities for promoting egg powder will result in various potential opportunities for generating high revenue in egg powder market in the forecast period.
Segmental Analysis
The market for egg powder is segmented into the categories of application and type. On the basis of type, the market for egg powder is segmented into EYP (Egg Yolk Powder), WEP (Whole Egg Powder), and EAP (Egg Albumin Powder). Among the categories, the whole egg powder is expected to be responsible for the key market proportion of 65.51 percent in the year of 2018. Furthermore, it has the maximum market share in the European region followed by the North American region. However, the egg yolk powder is estimated to be the most rapidly expanding segment in the course of the forecast period. Based on application, the egg powder market is segmented into noodles & pasta, meat & fish, mayonnaise & salad dressing, bakery & confectionery, and others. Among these categories, the bakery & confectionery segment is estimated to control the market for the year 2018. However, the noodles & pasta segment is observing a healthy CAGR of 4.78 percent for the period of the forecast period from 2017 to 2023.
Detailed Regional Analysis
The egg powder market is segmented into regions such as Europe, North America, Asia Pacific, and Rest of the World. The European region is expected to be responsible for the maximum market share of 38.30 percent in the year 2018, and the trend is anticipated to carry on through the forecast period. Moreover, in the European region, the Netherlands is developing at the highest rate trailed by Germany. However, the Asia Pacific region is projected to be the most rapidly developing region for the egg powder market. There is an enormous growth potential for egg powder in developing economies, such as India and China, which is acting as a motivator for the market in the Asia Pacific region. Increasing applications of egg powder in confectionery and bakery are majorly contributing to the growing demand for egg powder in the APAC region. In India, the application of egg powder is projected to be growing rapidly in the meat & fish segment trailed by the noodles & pasta segment in the course of the forecast period. The North American and Asia Pacific regions together are expected to hold a portion of more than 50 percent in the egg powder market.
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