Egg Products Market Set for Expansive Growth during the forecast period
Market – Overview:
Egg products have been an essential part of many cuisines around the
world, citing population rise the demand for egg and egg products has also
increased significantly. Market Research Future, a firm which specializes in
market reports related to the Food and Beverage sector among others, recently
published a report on this market. The industry is expected to expand with a
CAGR of 4.5% during the forecast period.
Increase in population along with the increase in the number of
applications for egg and egg products has boosted the level of market growth of
this sector. The convenience and ease of preparation has increased the
popularity level of these products. The convenience level of production has
increased the production levels of the products which has attracted favorable
investor interest in the market. Development of varieties of eggs and egg
products will fuel the onward expansion of the sector.
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Industry Segments:
The market for eggs and egg products is initially segmented on the basis
of form which comprises of dried, liquid, others. Egg and egg products in dried
form is found to have a major share due to high application in various
industries and easy storage properties. Furthermore, on the basis of
product-type the types include egg yolk, egg white, whole egg and others. Whole
egg holds a huge share among this product type. Applications of egg and egg
products includes food such as ready-to-eat meals, confectionery, bakery, dips
& sauces, dairy products, horeca and non-food items like personal care,
animal feed, medicines & vaccines among others. However, food based uses
govern the share among the various applications of egg and egg products owing
to increasing consumers demand for ready-to-eat meals and bakery products.
Detailed Regional Analysis:
The global egg and egg products market size includes regions such as North America, Europe, Asia Pacific, and Rest
of the World (RoW). North America is estimated to be the major market for egg
and egg products succeeded by Europe. Improved production of egg and egg
products in U.S. is projected to generate a high revenue from North America
during the given forecast period. Shifting consumer preferences for healthy and
high nutritional value foods will support the sale of egg and egg products in
various region during the forecast period. The chief importers of egg and egg
products include France, Hong Kong, U.K., Singapore and U.S. The higher demand
for functional food products and nutraceuticals has led to the import and
export of egg and egg products in the urbanized countries at a steadily rising
rate.
Global Competitive Analysis:
The industry players in the segment are effectively utilizing their
primary resources to initiate long lasting growth changes. A trend of
volume-driven growth has been observed in the market of late with the
development of different varieties of product types. The sector is undergoing
considerable transformation which has accelerated the growth pace of the sector.
The best long-term growth opportunities for this sector can be harnessed by
ensuring ongoing process improvements and maintaining financial flexibility to
invest in the optimal strategies. Conversely, with companies aiming to capture
a considerable share of the market segment as early as possible,
experimentation with various advantage points is being seriously considered and
implemented.
The important players outlined in this particular market are Tyson
Foods, Inc. (U.S.), Land O'Lakes, Inc. (U.S.), Noble Foods Ltd. (U.K.), Barry
Farms (U.S.), Godrej Agrovet Ltd (India) to name a few.
Industry Updates:
Jan 2018 Ovostar Union which is an agricultural group of companies and
also a chief shell egg and egg goods producer in Ukraine has produced 1.659
billion eggs in 2017, 12% more than in 2016. According to a company report, the
sales volume of eggs went up by 13% to 1.195 billion eggs, out of which the
volume of eggs exported amounted to 529 million eggs, a 72% upsurge from 307
million eggs.
Jan 2018 Turkey has started exporting eggs to a number of European
countries where productions slumped. They have also started exporting eggs to
Iran, which had to cull a massive number of chickens because of bird flu. He
confirmed that a contract to sell 50,000 tons of eggs has already been signed
and the sales will be made progressively over the next six months.
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NOTE: Our Team of
Researchers are Studying Covid19 and its Impact on Various Industry Verticals
and wherever required we will be considering Covid19 Footprints for Better
Analysis of Market and Industries. Cordially get in Touch for More Details.
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