As the vegetarian food is growing in demand across the world in recent times, several vegan diets and nutritional products are produced in the market. Since egg products are one of the remarkable and consistent food in every corner of the world, innovations such as vegan egg products are disrupting the global egg processing market demand. The trend for plant-based egg substitutes is gaining immense popularity among the people. This plant-based innovative approach is gradually replacing traditional egg consumption. Besides, its manufacturing procedure offers an eco-friendly solution against the pollution emitted by the conventional egg processing industries. Just Egg is one of the renowned global leaders generating huge demand with its mung-based egg products. This breakthrough novel solution for the vegan population is likely to boost the revenue generation of the egg processing market in the future years. The emergence of this vegan egg evolution is extending the environmental footprint of the egg processing market. The global egg processing market acquired revenue of $28.4 million in the year 2018. Furthermore, this market is estimated to grow at a CAGR of 3.9% during the forecast period of 2019-2025.
Liquid egg products are majorly driving the egg processing market demand. The frozen foods and liquid egg products such as liquid yolks, liquid egg whites, liquid egg mixtures, liquid egg sprays, and many others are paving their way into regular culinary activities. Additionally, pasteurized liquid egg products are acquiring a stronghold position in the food service industry thereby elevating the global egg processing market growth. Also, there is wide-scale usage of new innovative technology in the egg processing industry which is spurring huge customer demand. Companies such as IGRECA deploy computer-assisted liquid egg pasteurization, whereas Ovovita incorporates a wide variety of filtration, pasteurization, packaging, scanning, cooling, and storage facilities. With adequate warehousing and processing facilities adopted by several market leaders, liquid egg products are gaining a huge scope of opportunity in the global egg processing market. Consequently, the liquid egg processing market is projected to increase at a CAGR of 2.4% through 2025.
North America is holding a dominant place in the global egg processing market with a regional share of 36% in the year 2018. As per the American Egg Board, egg production accounted for 8.56 billion in the United States during February 2019. This is reflective of the resultant prospect for the egg processing industries in this region. The food service industry is one of the biggest demand generating end-user for the egg processing market. They rely largely on the end products offered by egg processing industries to boost their sales and overall economic output. According to the projections of the Colorado Restaurant Association, the overall sales of the U.S. food service industry will reach $850 billion in 2019. As a result, this will eventually upheave the revenue of the egg processing market in this region in recent times. Additionally, a large section of the dietary and regular food preparation includes eggs and egg products in this region. Such egg products include dried egg powder, liquid pasteurized eggs, frozen egg items, and many more. Moreover, with several bakery, confectionery, and dairy industries established in this region, there is a demand influence over the egg processing market. Also, several baking industries in North American states gained huge economic in recent years. This also highlights the resultant revenue gain by the domestic egg processing industries since egg products remain an important part in baking industries
Furthermore, as a macroeconomic market, the global bakery market experiences huge demand and has a stronghold position in the global market. According to the American Bakers Association, the global fresh bakery industry leveraged a revenue of $6.46 billion in 2018. It also highlights that the global packaged bakery industry generated $40 billion profit in the same year. Simultaneously, the growth of the bakery industry will boost the global egg processing market growth in the forthcoming years.
Egg Processing Market Progresses And Innovations:
Innovation is one of the important criteria to establish a sustainable market position in the competitive business scenario. Several new product launches and breakthrough discoveries are significantly pushing forth progressing prospects of the egg processing market. For instance, SKM Egg Products (Asia) recently introduced a new processed egg product -egg white cubes- in the market. This novel ready-to-eat product complies with zero-fat and no-cholesterol contents, thereby also suiting the demand of the health-conscious population. Moreover, ultrasonication offers a promising solution to the egg processing industries and is readily adapted to achieve a better shelf life of egg products. This green technology is likely to disrupt the egg processing market demand in the forthcoming years.
Key Contributors In The Egg Processing Market:
The global egg processing market growth is aided by continuous product launches and new technology innovation by the market key players. Investing colossally in R&D activities and focusing on new market strategies, these companies are constantly influencing market demand. These major leaders include Actini Group, Avril SCA, Cal-Maine Foods Inc., Moba B.V., Eurova S.R.L., Igreca S.A, Interovo Egg Group B.V., S.p.A, Bouwhuuis Enthovan, and Sanovo Technology Group. Moba B.V. offers novel technical solutions for the egg processing industries. They provide a range of automatic and mechanical machinery to assist in egg grading and packaging. Some of their technology solutions include Mobanette3, Moba68/68, Mopack40/55/70, and many others.
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