EGG PROCESSING MARKET ANALYSIS

The Global Egg Processing Market is projected to reach around US$ 51.9 Billion by the end of 2030, in terms of revenue, growing at CAGR of 5.8% during the forecast period (2023-2030).

Global Egg Processing Market: Drivers

Rising awareness regarding health benefits of eggs

The increasing awareness regarding the health benefits of eggs such as the presence of protein and vitamins among others is expected to drive the growth of the egg processing market across the globe. The increasing demand for eggs from the food industry is another factor contributing to the market growth. According to European Union, there are more than 350 million laying hens in the union. Every year, the laying hens produce almost 6.7 million tons of eggs.

Increase in consumption of egg products

The egg processing market is driven by the increasing demand for egg products. The reason for the growth is that processed egg products have assurance of safety, reduced risk of contamination, and extended shelf-life. The increase in the use of processed egg products in the food & beverage industry is also driving the market.

Global Egg Processing Market: Restraints

Shift towards vegan products

In the forecast period, health consciousness and rising veganism are anticipated to restrain the growth of the global egg processing market. The demand for eggs and egg-based products may decrease as more people choose plant-based diets. This change in consumer preferences could be difficult for the egg processing sector. It may be possible to lessen the impact by conducting a campaign to raise consumer awareness of the advantages of processed eggs.

Global Egg Processing Market: Opportunity

Increasing population growth and individual consumption

According to Food and Agriculture Organization of the United Nations, demand for poultry meat and eggs is expected to continue increasing due to population growth and rising individual consumption. The market for poultry meat is projected to increase regardless of region or income level, with per capita growth slightly higher in developing than in developed regions. This understanding creates an opportunity in developing countries for egg-processed items during the forecast period.

 Global Egg Processing Market: Trends

Rise in demand for convenience food

The global egg processing market may experience favorable growth due to the increasing demand for processed food worldwide. Urban areas, driven by rising disposable income and a growing working middle class, are witnessing a surge in the consumption of processed food products. This trend creates opportunities for the egg processing industry to meet the demand for convenient and ready-to-eat food options. As a result, the market is poised to benefit from the evolving preferences and lifestyles of consumers.

Global Egg Processing Market: Recent Developments

In Jan 2023, Cal-Maine Foods, the largest manufacturer and distributor of fresh shell eggs in the U.S., announced a partnership with Entegrity Energy Partners ("Entegrity"), a company that offers energy services, sustainability, and solar development. In order to install a 4.15-megawatt direct-current solar array at the company's egg production and processing facility in Searcy, Arkansas.

In Oct 2022, The LDC Group and Avril started exclusive talks about the sale of OVOTEAM, according to Avril, the France market leader in vegetable oils and proteins. This business specializes in producing and marketing egg products for the food industry, the catering sector, as well as the industry that makes bread and bakery goods.

In May 2023, LA PAZ COUNTY, Arizona-based Becker Development and Consulting LLC and its client, Rose Acre Farms, held a groundbreaking ceremony for the second egg farm, to be called Desert Valley Egg Farm. Rose Acre Farms will begin building the Desert Valley Egg Farm in the fall of 2023. The farm is anticipated to be finished by 2026 and will cost more than $100 million to build.

In Oct 2021, The Board of Directors of Cal-Maine Foods, Inc. has approved a strategic investment that will focus on high-value commercial product solutions that are tailored to particular needs in the food industry. Hard-cooked and egg product lines with extended shelf lives will be the initial focus. The new company, MeadowCreek Foods, LLC (referred to as "MeadowCreek"), will be based in Neosho, Missouri.

Global Egg Processing Market: Market Segmentation

Figure 1. Egg Processing Market Share (%) in terms of Value, By Region, in 2022

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Regionally, North America dominates the global egg processing market in terms of revenue, followed by Europe and Asia Pacific, respectively. The North American market is being driven by the rise in popularity of eggs and other healthy food products among consumers generally as well as the introduction of new product lines to the market.

Global Egg Processing Market: By Application

Based on application, the egg processing market is segmented into bakery & confectionery, dairy products, ready-to-eat, soups & sauces, and others. In 2022, the bakery and confectionery segment accounted for 33% of the revenue share followed by Dairy products and ready-to-eat segments.

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Global Egg Processing Market: Impact of Coronavirus (Covid-19) Pandemic

The global consumer spending pattern is being impacted by the Covid-19 pandemic. Despite the high demand for staple foods like dairy, the egg processing industry has been impacted by supply chain problems. The COVID-19 pandemic is predicted to have a negative impact on the poultry industry. The egg processing market's growth is predicted to be hampered by this. However, the rise of convenience foods and the lengthened shelf life of processed eggs may also cause a positive growth in the market.

Global Egg Processing Market: Key Companies

Key Companies operating in Global Egg Processing Market are Avril, Cal-Maine Foods, Inc., Eurovo S.R.L., Lactosan-Sanovo Holding A/S, Moba B.V., and ACTINI GROUP

*Definition: The processing of egg products includes breaking, filtering, mixing, stabilizing, blending, pasteurizing, cooling, freezing or drying, and packaging. Liquid, frozen, and dried egg products are the major types that are available as whole eggs, whites, yolks, and various blends. These egg products are widely used in the food & beverage industry as ingredients in products such as pasta, noodles, salad dressings, and dairy products.