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Egg Powder Market Expanding at 5.1% CAGR, Forecast to Reach $1,492.2 Million by 2032
Egg Powder Market
According to the report, the global egg powder market was valued at $923.7 million in 2022 and is projected to reach $1,492.2 million by 2032, registering a CAGR of 5.1% from 2023 to 2032.
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Prime determinants of growth
The egg powder market is experiencing robust growth driven by several key determinants. First and foremost, the increasing demand for convenient and shelf-stable food products has fueled the popularity of egg powder. With hectic lifestyles and a rising emphasis on on-the-go consumption, consumers are seeking versatile ingredients that retain the nutritional benefits of fresh eggs while offering extended shelf life. Egg powder, known for its convenience, longer storage capability, and ease of use in various culinary applications, addresses these consumer needs, contributing significantly to market expansion.
Furthermore, the egg powder market is witnessing heightened demand due to the growth in the food processing industry. Egg powder serves as a valuable ingredient for food manufacturers, providing a consistent and easily manageable source of high-quality protein for a wide array of products, including baked goods, confectionery, and ready-to-eat meals. As food manufacturers increasingly recognize the functional properties, nutritional benefits, and cost-effectiveness of egg powder in their formulations, the market is poised for sustained growth, driven by the evolving landscape of modern food production and consumption patterns.
The whole egg powder segment to maintain its leadership status throughout the forecast period
By type, the whole egg powder segment held the highest market share in 2022, accounting for two-fifths of the global egg powder market revenue and is estimated to maintain its leadership status throughout the forecast period. However, the egg albumen powder segment is projected to manifest the highest CAGR of 5.9% from 2023 to 2032.
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The food and beverage segment to maintain its leadership status throughout the forecast period
By end user, the food and beverage segment held the highest market share in 2022, accounting for nearly two-fifths of the global egg powder Market revenue, and is estimated to maintain its leadership status throughout the forecast period. Additionally, the personal care and cosmetics segment is projected to manifest the highest CAGR of 6.7% from 2023 to 2032.
The hypermarkets/supermarkets segment to maintain its leadership status throughout the forecast period.
By end use, the hypermarkets/supermarkets segment held the highest market share in 2022, accounting for nearly one-third of the global egg powder market revenue, and is estimated to maintain its leadership status throughout the forecast period. Additionally, the online sales channel segment is projected to manifest the highest CAGR of 6.8% from 2023 to 2032.
Asia-Pacific to maintain its dominance by 2032
By region, Asia-Pacific held the highest market share in terms of revenue in 2022, accounting for one-third of the global egg powder market revenue. In addition, the Asia-Pacific region is also expected to witness the fastest CAGR of 5.7% from 2023 to 2032 and is expected to dominate the market during the forecast period.
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Leading Market Players: -
Kewpie Corporation
Sanovo Technology Group
Pulviver, Ovostar Union N.V.
Rembrandt Foods
Adriaan Goede BV
Bouwhuis Enthoven BV
Ovodan
SKM Egg Products Export (India) Ltd.
Rose Acre Farms
Eurovo Group
Deb-El Foods
Wulro, Ovobel Foods Limited
Actini Group
The report provides a detailed analysis of these key players in the global egg powder market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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