Egg Processing Market Dynamics: Analyzing Global Trade Patterns and Influences
Egg processing involves breaking eggs, filtering, mixing, blending, stabilizing and packaging of eggs and egg products to extend their shelf life. It provides convenience and value addition to end users. The processed eggs have various applications in food processing industries including bakery, ready-to-eat meals, sauces etc. due to traits like long shelf life, stability and uniformity. The global egg processing market is estimated to be valued at US$ 51.9 Bn in 2023 and is expected to exhibit a CAGR of 5.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Opportunity: The opportunity for value addition is expected to drive the growth of the egg processing market during the forecast period. Processing enables various value-added products from eggs like dried eggs, frozen eggs, liquid eggs etc. which find applications in various food processing industries. It provides features like standardization, extended shelf life and versatility in applications. The processed eggs can be easily incorporated into recipes for preparation of bakery products, mayonnaise, ice creams and other food items. The demand for convenient and value-added egg products is increasing globally which is prompting manufacturers to focus on product innovation, thereby supporting the market growth over the forecast period.
Porter’s Analysis Threat of new entrants: The threat of new entrants in the egg processing market is low due to high capital requirement for setting up processing facilities and brand recognition of existing players.
Bargaining power of buyers: The bargaining power of buyers is high in the egg processing market due to the presence of numerous buyers and lack of product differentiation.
Bargaining power of suppliers: The bargaining power of suppliers is moderate as egg collection from farms creates dependence on suppliers.
Threat of new substitutes: The threat of substitutes like plant-based proteins is moderate as eggs offer unique nutritional value.
Competitive rivalry: The competitive rivalry is high among existing players due to their large number.
SWOT Analysis Strength: Egg processing allows value-addition through pasteurization, drying and freezing techniques. Eggs provide high nutritional value.
Weakness: Processing units are capital-intensive to establish and operate. Egg production depends on climatic conditions affecting supply.
Opportunity: Growing demand for processed and ready-to-eat food offers scope. Developing regions provide new markets due to rising incomes.
Threats: Diseases can negatively impact poultry/egg production. Substitute proteins from plant-based sources pose competition.
Key Takeaways The global Egg Processing Market is expected to witness high growth over the forecast period driven by rising demand for convenience foods. The market size is projected to reach US$ 51.9 billion by 2024.
Regional analysis - Europe dominates currently due to large production volumes and growing processed products demand. Asia Pacific is poised to grow at the fastest pace led by countries like China and India experiencing increasing urbanization and disposable incomes.
Key players operating in the Egg Processing Market are Avril, Cal-Maine Foods, Inc., Eurovo S.R.L., Lactosan-Sanovo Holding A/S, Moba B.V., and ACTINI GROUP. Key players are focusing on expanding capacities and product portfolios to cater to the growing needs of consumers and food processing sector.
