Increase in the production of eggs to contribute to the rise of egg processing for producing egg powder
Egg powder includes powder made from bird eggs, and these are fully dehydrated eggs. It also known as dried egg products that include whole egg powder, egg yolk powder, egg albumen powder, and egg powder mix or a blend of egg powder. In the food industry, bakery and confectionery are the major segments that account for a higher demand, followed by meat products and sauces & dressings. The food segment accounts for a significant revenue share in the global egg powder market, and is expected to register a high growth rate during the forecast period. Currently, the demand for egg powder is also rising among personal care products, cosmetics, animal feed, and pet food products. According to this research analysis, the global egg powder market is expected to be valued at over US$ 840 Mn in 2017, growing at a CAGR of 4.5% during the forecast period 2017-2025. Among the different product types, the whole egg powder segment is anticipated to dominate the global market in terms of revenue share, with a projected value share of about 60% throughout the forecast period.
Shift in consumer preferences to boost egg powder market revenue growth
Over the past decade, developing nations such as Brazil, Argentina, Chile, and other such countries around the globe encountered a huge shift in consumption patterns, from carb-based food (such as grains, cereals, and rice) to protein-based foods (such as hens, fish, meat). This factor is expected to fuel the demand for egg powder in Latin America, thereby resulting in an expansion of the animal feed industry in the region and driving the demand for egg powder. The growth in demand is also helped by a marked increase in the production of eggs. Asia Pacific accounts for more than 40% of the global egg production and China holds the largest share within the APAC region. Owing to the high production in this region, manufacturers are focused on processing eggs into egg powder to cater to the rising demand from the food industry. This factor is expected to drive the sales of egg powder over the forecast period.
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These factors have a direct impact on the application of egg powder. Egg powder is experiencing increase in its use, especially in the bakery industry. Eggs are one of the important ingredients in most bakery products, and are used extensively across the globe. Bakers prefer to use egg powder instead of whole eggs, owing to multiple reasons such as longer shelf life and ease in shipping and transportation. The North America bakery industry is around US$ 32 Bn, which holds the second position after Europe. The increasing demand for healthy bakery products across North America is expected to drive the demand for egg powder across the region.
Factors like risk of contamination may hinder the growth of the global egg powder market
The research analysis has observed various factors that may contribute to the sluggish growth of the global egg powder market. One of those factors is high risk of contamination associated with eggs and egg powder. Owing to poor hygienic conditions, there is always a risk of contamination in eggs, which would possibly degrade the quality of eggs and processed egg products. This factor is expected to hamper the growth of the egg powder market especially in Asia Pacific over the forecast period. The report also shows a negative impact of the fluctuations in the price of raw materials. Increased prices of agricultural grains used as feed for hens within the region has led to an increase in the prices of the production of egg powder, which has detached the low income families from the consumer chain, and is expected to further degrade the growth of the egg powder market.