Egg Products Market to witness a CAGR growth of 6.31% 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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