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Cracking the Code: Innovations in Egg Processing
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According to The Business Research Company's, The egg processing market size has grown steadily in recent years. It will grow from $28.33 billion in 2023 to $29.26 billion in 2024 at a compound annual growth rate (CAGR) of 3.3%. The growth in the historic period can be attributed to increase in egg consumption, industrialization of poultry farming, consumer demand for protein, food safety measures, expansion of ready-to-eat market, economic growth and urbanization.
The egg processing market size is expected to see steady growth in the next few years. It will grow to $33.93 billion in 2028 at a compound annual growth rate (CAGR) of 3.8%. The growth in the forecast period can be attributed to sustainable egg production practices, customized product solutions, government initiatives for nutrition, plant-based alternatives, globalization of food supply chains. Major trends in the forecast period include technological integration in processing, advancements in packaging solutions, investment in research and development, collaborations in the food industry, online retail and direct-to-consumer channels.
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Market Drivers and Trends:
A growth in world population is expected to propel the growth of the egg processing market going forward. The world population refers to the total number of people living on Earth at a given point in time. It is a comprehensive count of all individuals across the globe, encompassing various countries, regions, and continents. As the global population continues to grow, there is a corresponding increase in food demand. Eggs and processed egg products provide a protein-rich and versatile food option, contributing to meeting this demand. For instance, in November 2022, the United Nations, a US-based intergovernmental organization published an article according to which the world's population is expected to increase by nearly 2 billion persons in the next 30 years, from the current 8 billion to 9.7 billion in 2050 and is expected to peak at nearly 10.4 billion in the mid-2080s. therefore, a growth in world population is driving the egg processing market.
Technological advancements are the key trend gaining popularity in the egg processing market. Major companies operating in egg processing market are focusing on incorporating advanced technologies to improve yield and offer better egg products as well as gain a competitive advantage in the market. For instance, in November 2022, Sanovo, a Denmark-based egg processing company, launched HatchPerformance Line, an egg-handling solution specifically for fertile, vulnerable eggs. The product line comprises three basic modules that can upgrade with additional choices. The three main components-an electronic egg grader, an egg packer, and a trolley loader-combine to provide an egg supply of the highest possible quality, increasing hatchability rates. Breeder farmers avoid personal contact with the fertilized eggs while using the entire system, which lowers the possibility of contamination harming the embryo or infecting other eggs.
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Major Key Players of the Market:
Cargill Inc., Archer Daniels Midland Company, Arla Foods Ingredients Group P/S, DuPont de Nemours Inc., Kerry Group plc., Ingredion Incorporated, Glanbia plc, Tate & Lyle plc, Puratos Group, Midwest Grain Products Inc., Fiberstar Inc., Florida Food Products LLC, All American Foods Inc., Orgran Natural Foods, Ener-G Foods Inc., Cal-Maine Foods Inc., Rose Acre Farms Inc., Rembrandt Enterprises Inc., Michael Foods Inc., Hickman's Family Farms Inc., National Food Corporation, Daybreak Foods Inc., Midwest Poultry Services LP, Sauder's Eggs, Hillandale Farms, Sparboe Farms Inc., Weaver Brothers Inc., Herbruck's Poultry Ranch, Trillium Farm Holdings LLC, Centrum Valley Farms LLP, Avril SCA, Bouwhuis Enthovan BV, Eurovo SRL, Igreca SA, Interovo Egg Group BV, Moba BV, Ovobel Foods Limited, Sanovo Engineering AS, Pelbo SPA
Egg Processing Market 2024 Key Insights:
• The egg processing market size is expected to see steady growth in the next few years. It will grow to $33.93 billion in 2028 at a compound annual growth rate (CAGR) of 3.8%.
• The Extraordinary Surge In Demand For Ready-To-Eat And Convenience Foods
• Technological Advancements Driving Innovation In The Egg Processing Market
• North America was the largest region in the egg processing market share in 2023
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