According to the latest market report published by Transparency Market Research, titled ‘Egg Protein Market – Global Industry Analysis Size, Share, Growth, Trends, and Forecast (2018-2026)‘, revenue generated from the egg protein market has been estimated to be valued at US$ 1056.4 Mn in 2018, which is projected to increase at a CAGR of 4.3% during the forecast period (2018-2026).
The high nutritional value along with varied functional properties offered by egg protein are some of the major drivers for its market. These high-quality egg proteins ensure valuable contribution towards maintaining and synthesizing muscle power, along with regulation of blood glucose levels. The egg protein market is segmented on the basis of flavors in egg protein products, by end use, and by the various functions offered by egg proteins. In addition, growing urbanization, busy lifestyles, increasing disposable income of consumers, and changing consumer preferences are some of the key factors affecting the egg protein market. In addition to the diverse applications of egg protein in various different industries, it also comes in diverse types and flavors, thus giving consumers a variety to choose from according to their tastes, likings, and needs. The nature of egg protein makes it a profoundly trend-driven market, and has a lucrative potential to grow in the coming years. Further, the growing fitness concerns and health consciousness among consumers have surged the demand for egg protein supplements rich in amino acids and others beneficial value-added nutrients.
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The APAC region is estimated to account for 26.5% of the market share of the egg protein market in 2018 by value, with an estimated CAGR of 5.3% during the forecast period of 2018-2026, owing to growing urbanization, increase in the disposable income of consumers, high millennial population, growing concerns for health and fitness, changing lifestyles, and food & beverage preferences. Further, another factor driving the Asia Pacific egg protein market is the demand for baby food formulas, which is significantly higher in Asia due to two major factors: China’s repeal of its one-child policy and industrialization of South East Asian countries that has led to an increase in the demand for egg protein, which is an essential ingredient in infant nutrition, owing to the high nutritional value offered.
Consumers are increasingly focusing on product labels to know the quality and quantity of ingredients and nutrients, sugar, fat, etc., in packaged food products. This has led to manufacturers using egg protein as an ingredient in various products, as they are both, nutritious and low in fat content. The presence of one or more nutrients such as riboflavin, ovotransferrin, or others in egg protein appeals to a wide audience, and provides ample marketing scope to manufacturers in the egg protein market. In addition, egg protein is being increasingly perceived as a healthy product that is a viable and safe source of various amino acids that are not produced in the human body or are concentrated in the muscles. Overall, with the growing concerns for muscle fitness, sound body, and healthy nourishment, the global egg protein industry is projected to rise at a high CAGR during the forecast period (2018-2026).
TMR has profiled some of the prominent market participants in the global egg protein market identified across the value chain, which includes Davisco Foods International, Inc., Kewpie Corporation, Cargill Inc., Rose Acre Farms, Deb-El Foods, Bouwhuis Enthoven, Wulro BV, Igreca, Sanovo Egg Group, Rembrandt Enterprises Inc., Interovo Egg Group BV, Adriaan Goede BV, and Now Health Group, Inc., among others.
Egg proteins are derived from a common raw material, i.e. eggs. The easy availability of eggs in conjunction with high demand has resulted in the emergence and presence of a significantly high number of domestic or small-scale egg protein or end-product manufacturers across the world. Further, companies in the egg protein market are developing and innovating new flavors and blends of egg protein, due to the constant demand for the same among consumers, attributed to varied taste preferences, regional and cultural choices, and needs. In addition, the rise in the demand for savory, tasty, and appealing bakery, confectionery, and dessert items is also fuelling the demand for egg protein that acts as a thickening and binding agent in these products, thus giving them a better texture, taste, and proportion.