Sep 6, 2019
WiseGuyReports.Com Publish a New Market Research Report On –“ Egg Powder Market 2019 Global Share,Trend,Segmentation and Forecast to 2023”.
Pune, India - September 5, 2019 /MarketersMedia/ —
Description:-
Egg powder is a dehydrated form of eggs and is made using the spray method which is also used to produce milk powder. Global egg powder market has seen significant growth over the years and is expected to grow further. However, there are some factors that could hinder this growth and could impact not only the manufacturers but also the foodservice industry.
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It’s not just the rising demand that contributes to the egg powder market growth, there are other factors that are poised to boost manufacturing, distribution, and consumption of egg powder in the near future. Market Research Future (MRFR) has published a report that thoroughly covers such areas and highlights how the market will perform in the coming years while analyzing the performance of key players in the market based on strategic SWOT analysis. The global egg powder market is set to hit the US$1,201.5 million mark by 2023. The market is expected to register a compound annual growth rate (CAGR) of 4.34%.
Market growth analysis
While the rising demand for egg powder in developing and developed nations will be the major reason for the market growth, strategies being implemented by key players in the market also account for the significant growth across North America, Asia-Pacific, Europe, and other parts of the world.
Reasons to watch out for the egg powder market growth:
The report covers a large number of regions and the key market players who are actively contributing to the growth of egg powder market. Unsurprisingly, investment in R&D, acquisitions, expansion, and new products has made the market consumer-friendly; the rising demand for bakery and confectionery items has also created lots of opportunities for manufacturers.
Other than the business process improvements, companies in the egg powder business are also embracing technology for promotion and distribution of their products.
Companies are taking their products to eCommerce platforms to not only boost sales but also to create brand awareness for their products.
Product endorsement or celebrity branding is also one of the promotional strategies being used by major players in the market. These advertising tactics have significantly increased the demand for egg powder-based products.
Market segmentation
Egg powder is used by a large number of people across the world. It is easy to use, easy to store and doesn’t require refrigeration. It can be found in three major varieties called whole egg powder (WEP), egg albumin power (EAP), and egg yolk powder (EYP). The study suggests that while WEP is expected to have the largest chunk of share in the market during the forecasted period, EYP market is said to witness the highest compound annual growth rate during the said period.
Based on applications, the use of egg powder is widespread. Because of its nutritional values, it is used in bakery and confectionery products such as pasta, noodles, salad, pancakes, meat products, and mayonnaise, etc.
Regional Analysis
For the research, the egg powder market is segmented into Europe, North America, and Asia-Pacific, and the rest of the world. Over the years Europe has established itself as the top region in terms of growth in the egg powder market with Germany holding the largest share in the European market - 27.4% in 2018.
Europe is expected to retain its position with an estimated growth of US$456.1 million by 2023 while registering a CAGR of 4.13%. During the forecasted period, Germany will remain the largest country-level market in Europe. Egg powder market in Asia-Pacific is all set to register the highest CAGR of 5.65% and is expected to reach US$325.4 million by 2023. In the Asia-Pacific region, China is expected to account for the largest share (45%) in the egg powder market. However, it’s the Indian market that is said to be registering the highest CAGR of 7.05%.
Industry events
Allergies from eggs have been a rising concern among consumers, but healthcare brands, as well as manufacturers, have found ways to deal with such problems. The Food and Drug Administration has a report that says every year, 79,000 Americans fall sick because of consuming tainted eggs, and a large number of companies are trying to find alternatives in the form of powdered eggs.
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Source: MarketersMedia
Release ID: 88915933
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