The Egg Processing Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Egg Processing Global Market Report 2024, 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..
The rising demand for ready-to-eat and convenience foods is contributing to the growth of the egg processing market. Ready-to-eat and convenience foods are products that are shelf-stable and made for consumer convenience. RTE food consumption has increased more frequently as convenience and time savings have become more important. Egg processing is used to produce specialty egg products sold as convenience foods directly to consumers or restaurants. For instance, according to the Institute of Food Technologists, a US-based scientific society of professionals engaged in food science and food technology, the US snack sales increased by 5% in the first half of 2021 compared to the same period in 2020. Additionally, in 2021, sales of refrigerated lunch products increased by 36.4% and frozen novelties by 26%. Therefore, the rising demand for ready-to-eat and convenience foods is driving the egg processing market.
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The egg processing market covered in this report is segmented –
1) By Product Form: Whole Egg, Egg Yolk, Egg White
2) By Product Type: Dried Egg Products, Liquid Egg Products, Frozen Egg Products
3) By Application: Bakery and Confectionery, Dairy Products, Ready-to-Eat, Soups and Sauces, Other Applications
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.
The egg processing market report table of contents includes:
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