Market – Overview:
Egg products have been an essential part of many cuisines around the world, citing population rise the demand for egg and egg products has also increased significantly. Market Research Future, a firm which specializes in market reports related to the Food and Beverage sector among others, recently published a report on this market. The industry is expected to expand with a CAGR of 4.5% during the forecast period.
Increase in population along with the increase in the number of applications for egg and egg products has boosted the level of market growth of this sector. The convenience and ease of preparation has increased the popularity level of these products. The convenience level of production has increased the production levels of the products which has attracted favorable investor interest in the market. Development of varieties of eggs and egg products will fuel the onward expansion of the sector.
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Industry Segments:
The market for eggs and egg products is initially segmented on the basis of form which comprises of dried, liquid, others. Egg and egg products in dried form is found to have a major share due to high application in various industries and easy storage properties. Furthermore, on the basis of product-type the types include egg yolk, egg white, whole egg and others. Whole egg holds a huge share among this product type. Applications of egg and egg products includes food such as ready-to-eat meals, confectionery, bakery, dips & sauces, dairy products, horeca and non-food items like personal care, animal feed, medicines & vaccines among others. However, food based uses govern the share among the various applications of egg and egg products owing to increasing consumers demand for ready-to-eat meals and bakery products.
Detailed Regional Analysis:
The global egg and egg products market includes regions such as North America, Europe, Asia Pacific, and Rest of the World (RoW). North America is estimated to be the major market for egg and egg products succeeded by Europe. Improved production of egg and egg products in U.S. is projected to generate a high revenue from North America during the given forecast period. Shifting consumer preferences for healthy and high nutritional value foods will support the sale of egg and egg products in various region during the forecast period. The chief importers of egg and egg products include France, Hong Kong, U.K., Singapore and U.S. The higher demand for functional food products and nutraceuticals has led to the import and export of egg and egg products in the urbanized countries at a steadily rising rate.
Global Competitive Analysis:
The industry players in the segment are effectively utilizing their primary resources to initiate long lasting growth changes. A trend of volume-driven growth has been observed in the market of late with the development of different varieties of product types. The sector is undergoing considerable transformation which has accelerated the growth pace of the sector. The best long-term growth opportunities for this sector can be harnessed by ensuring ongoing process improvements and maintaining financial flexibility to invest in the optimal strategies. Conversely, with companies aiming to capture a considerable share of the market segment as early as possible, experimentation with various advantage points is being seriously considered and implemented.
The important players outlined in this particular market are Tyson Foods, Inc. (U.S.), Land O'Lakes, Inc. (U.S.), Noble Foods Ltd. (U.K.), Barry Farms (U.S.), Godrej Agrovet Ltd (India) to name a few.
Industry Updates:
Jan 2018 Ovostar Union which is an agricultural group of companies and also a chief shell egg and egg goods producer in Ukraine has produced 1.659 billion eggs in 2017, 12% more than in 2016. According to a company report, the sales volume of eggs went up by 13% to 1.195 billion eggs, out of which the volume of eggs exported amounted to 529 million eggs, a 72% upsurge from 307 million eggs.
Jan 2018 Turkey has started exporting eggs to a number of European countries where productions slumped. They have also started exporting eggs to Iran, which had to cull a massive number of chickens because of bird flu. He confirmed that a contract to sell 50,000 tons of eggs has already been signed and the sales will be made progressively over the next six months.
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