According to our latest market study on “Global Egg White Powder Market Forecast to 2027 – COVID-19 Impact and Global Analysis – by Grade (Food Grade and Technical Grade); Distribution Channel (Direct/(B2B) and Indirect); Application (Food Processing, Pharmaceuticals, Cosmetics and Personal Care, Dietary Supplements, and Others), and Geography, ”the market was valued at US$ 1,463.84 million in 2019and is projected to reach US$ 2,652.35 million by 2027; it is expected to grow at a CAGR of 8.0% from 2020 to 2027.The report highlights key factors driving the market growth and prominent players along with their developments in the market.
Report Coverage Details
Market Size Value in- US$ 1,463.84 Million in 2019
Market Size- US$ 2,652.35 Million by 2027
Growth rate- CAGR of 8.0% from 2020-2027
Forecast Period- 2020-2027
Base Year- 2020
No. of Pages- 189
No. Tables- 83
No. of Charts & Figures- 73
Historical data available- Yes
Segments covered- Grade; Distribution Channel and Indirect); Application , and Geography
Regional scope- North America; Europe; Asia Pacific; Latin America; MEA
Country scope- US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina
Report coverage- Revenue forecast, company ranking, competitive landscape, growth factors, and trends
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The rising demand for egg white powder across food processing, pharmaceuticals, and dietary supplements industries, and increasing consumer awareness about the benefits of protein-rich food are the key factors driving the egg white powder market growth. However, the risk of contamination and high costs associated with egg white powder are the factors hampering the market growth. Despite these limitations, rising focus on research and development and innovation provides lucrative growth opportunities to the market players to grow in the coming years.
High protein intake has resulted in boosting metabolism that results in the burning of a high amount of calories. This further helps in proper weight management and weight loss. These benefits of protein are attracting consumers towards protein-rich food and beverages available in the market. This further creates a huge demand for egg white powder globally. A protein-rich food is considered one of the strongest trends in the food and beverage industry. Therefore, the demand for egg white powder is rising at a rapid pace in food and pharmaceutical applications. Additionally, the meat-free nature along with growing trend towards veganism is, further, proliferating the demand for egg white powder amongst population. Following the protein trend in food, the manufacturers are trying to make nutritional food products. Moreover, growing health and wellness trends has created a strong demand for functional food and beverages and dietary supplements significantly over the past years. Growing demand for functional food and beverages, further, boosts the demand for egg white powder.
Impact of COVID-19 Pandemic on Egg White Powder Market
The COVID-19 outbreak began in Wuhan (China) in December 2019, and since then, it has spread worldwide at a fast pace. As of July 2020, China, India, Brazil, Mexico, Spain, the UK, South Africa, and the US are among the most affected countries in terms of confirmed cases and reported deaths. According to the latest WHO figures, there are ~16,523,815confirmed cases and ~655,112 total deaths globally. COVID-19 has affected economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. The egg white powder industry is one of the major markets facing serious disruptions in supply chain and manufacturing due to lockdown and office shutdowns. For instance, China is the global hub of manufacturing and the largest raw material supplier for various industries. The lockdown of various plants and factories in leading regions such as Asia Pacific and Europe is affecting the global supply chains and negatively impacting the manufacturing, delivery schedules, and sales of various goods.
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The egg white powder market is segmented into grade, distribution channel, and application. Based on grade, the market is segmented into food grade and technical grade. In 2019, the food grade segment held a larger share of the market. Based on distribution channel, the egg white powder market is divided into direct/B2B and indirect. The egg white powder market based on indirect distribution channels is expected to grow at a higher CAGR during the forecast period. Based on application, the egg white powder market is segmented into food processing, pharmaceuticals, cosmetics and personal care, dietary supplements, and others. The food processing segment held the largest market share in 2019, and it is projected to continue its dominance over the forecast period.
Based on geography, the egg white powder market is segmented into North America, Europe, Asia Pacific (APAC), South America, and Middle East and Africa (MEA). Europe held the largest share of the global egg white powder market, followed by North America and Asia Pacific, respectively. Surge in health-consciousness among the individuals in western countries in Europe has augmented the demand for egg protein and egg powder products. Moreover, the east European region has observed the increased impetus from the western region, and owing to the high protein content and broad application of egg white powder in cosmetics & personal care, and food processing industries, the egg white powder market in the Eastern Europe region is also growing. Besides this, egg white powder market is well organized in terms of consumer preference, distribution channels, and innovation platforms, which further favors the market for these products in Europe. The key players in the egg white powder market in Europe are also eyeing to expand their presence worldwide by adopting strategies such as mergers and acquisitions, joint ventures, and local company collaborations, which, in turn, provide lucrative growth opportunities to the egg white powder market players
Egg White Powder Market: Competitive Landscape and Key Developments
Agroholding Avangard, Interovo Egg Group BV, Kewpie Corporation, Rembrandt Enterprises, and Rose Acre Farm. are among the key players in the global Egg White Powder market. The leading companies focus on the expansion and diversification of their market presence, and acquisition of new customer base, thereby tapping prevailing business opportunities.
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