Egg Protein Market to Reach a Valuation of ~US$ 1.8Bn by 2029: Transparency Market Research
According to a new study by TMR, the egg protein market is expected to reach ~US$1 Bn in 2019, and record a Y-o-Y growth of ~6% duringthe forecast period. Growth of the egg protein market remains driven by a slewof factors, which range from rising demand for protein-oriented products, andchanging regulations in the food and beverage industry, to growing awarenessamong consumers around the world.
Egg proteins have different functions such as thickening, leavening,binding, preservatives/antimicrobial, emulsifying, crystalization, and others.Owing to the growing end-use applications due to multiple functionalities,binding is becoming popular, and this segment is expected to grow rapidly at aCAGR of 8.5%, in the global egg protein market during the periodof 2019-2029.
Egg proteins are used in various industries such as functionalbeverages, dietary supplements, sports & infant nutrition, prepared food,bakery & confectionery, pharmaceuticals, personal care products, dairy& desserts, meat analogues, breakfast cereals, and protein and nutritionbars. The use of egg protein is increasing rapidly in sports nutrition,as such, pushing the growth of the global egg protein market.
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Rising Health and Wellness Consciousness Creating aCatalytic Effect
With rising health issues such as obesity, diabetes, and blood pressure,consumers have become highly conscious about their wellness. From youngsters toolder individuals, all age groups are concentrating on exercising regularly andfollowing a proper diet plan. Moreover, multiple gym chains, diet centers, andfitness centers are promoting the consumption of healthy food, dietarysupplements, and other health products, which is further influencing consumersto opt for egg protein products.
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Egg Protein Market - Rising Focus on Quality
Consumers prefer excellence in quality and service. Companies areinvesting in research & development to create unique and innovative eggprotein products with great quality. Companies are concentrating on adoptingthe latest technologies by which they can maintain high quality standards.Consumers choose brands with best quality egg protein products, and havevarious options to choose from. Competition is increasing rapidly in the eggprotein market. Consumers are ready to pay a good amount for high-quality eggprotein products.
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e-Commerce and Online Stores - Easing EntryBarriers and Distribution Costs
Egg protein is derived from eggs. The easy availability of eggs inconjunction with high demand has resulted in increasing number of small-,medium-, and large-scale manufacturers across the world, which is the reasonfor the intensive competition in the egg protein market. To sustain theirposition in the egg protein market, companies are manufacturing high-qualityegg proteins with multiple benefits. Manufacturers are focusing on launching newand innovative products using egg protein.
Online retail channels provide numerous benefits to small- andmedium-scale producers of egg proteins who might face entry barriers such ashigh marketing costs. Online retail channels help minimize the distributioncost and aid their products in reaching a large number of consumers, whichhelps increase their brand awareness and the sale of their products. Multipleonline stores also offer organic, natural, and clean label egg protein productsthat are not easily available in regular offline stores.
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Global Egg Protein Market: Competitive Landscape
Some of the key players operating in the global egg protein marketare Davisco Foods International, Inc., Kewpie Corporation, CargillInc., Rose Acre Farms, Deb-El Foods, Bouwhuis Enthoven, Wulro BV, Igreca,Sanovo Egg Group, Rembrandt Enterprises Inc., Interovo Egg Group BV, AdriaanGoede BV, and Now Health Group, Inc., among others.
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