According to a new report published by Allied Market Research, titled, "Egg Protein Market by Type, Application, and Form: Global Opportunity Analysis and Industry Forecast, 2018-2026," the global egg proteins market size was valued at $26,587.1 million in 2018, and is anticipated to reach $ 38,905.9 million by 2026, with a CAGR of 4.8% during the forecast period. The market is expected to exhibit an incremental revenue opportunity of $12,300 million from 2018 to 2026. Egg proteins such as egg white protein, whole egg protein, and egg yolk protein are widely consumed across industries such as nutrition, food & beverages, personal care, cosmetics, feed, and textiles. Their versatility and multifunctionalities such as texturizing, gelling, binding, foaming, and thickening have resulted in their worldwide adoption across these industries.
The growth of the egg proteins market is driven by increase in consumption in preparation of food products such as bakery, confectionery, snack products, processed meat, and seafood products. Furthermore, the demand is propelled by surge in need for nutritional food in the market. Owing to increase in awareness about the benefits offered by nutritional and health food products, consumers are shifting their focus toward healthy diets and are increasing their intake of protein to gain extra nutrition from the egg-based protein supplements, which significantly contributes toward the global egg protein market growth.
According to Roshan Deshmukh, Assistant Manager, Food and Beverages at Allied Market Research, “Surge in awareness among consumers regarding the health benefits of consumption of protein supplements and protein-based food products is expected to drive the growth of egg proteins market in the near future.”
The egg proteins market is segmented on the basis of types, application, form, and region. On the basis of type, the egg white protein has been the most preferred choice of egg proteins among consumers, due to its high protein content and multifunctionality. Thus, the egg white protein segment was valued at $ 13,419.1 million, and is expected to grow with a CAGR of 4.2% from 2019 to 2026, to reach $ 18,774.8 million by 2026. However, the egg yolk protein segment is expected to grow at the highest rate during the forecast period. This is attributed to surge in demand for egg yolk protein powder from consumers wanting to gain weight.
On the basis of application, the food & beverages segment garnered the highest share in 2018, and is estimated to growth with a CAGR of 4.2% during the egg protein market forecast period. However, the nutrition segment is expected to register the fastest growth in the near future. Surge in awareness about the health benefits of protein supplements among consumers in developing countries is expected to drive growth of the nutrition application segment.
On the basis of form, the solid segment held a significant share in the global market in 2018, and is likely to dominate the market throughout the forecast period, owing to its easy handling & dosage properties and prolonged shelf life. However, the liquid segment is expected to grow at higher CAGR, owing to increase in inclination of consumer toward the ready-to-drink protein supplements.
In the region wise egg protein market analysis, Europe led the egg protein industry. This is attributed to high per capita consumption of protein supplements in majority of the countries in Europe, including Germany, France, the UK, Italy, and Spain and high demand for food products processed with egg protein ingredients. In addition, rise in preference for egg proteins over other protein ingredients in various food & beverage products due to their multifunctionalities propels the Europe market growth. However, the market in Asia-Pacific is expected to grow at the highest CAGR, due to rise in awareness about the functional benefits of egg protein ingredients and surge in demand for nutritional supplements in developing countries.
Key findings of the study
- By type, the egg yolk protein segment is estimated to witness the fastest growth, registering a CAGR of 5.9% during the forecast period.
- In 2018, by application, the food & beverage segment held the highest share, accounts 47.59% of the global egg proteins market share.
- In 2018, Germany was the most prominent market in the Europe, and is expected to grow at a significant CAGR throughout the forecast period.
The key players profiled in this report include Cargill, Kewpie Corporation, Rose Acre Farms, Rembrandt foods, Bouwhuis Enthoven Wulro BV, Igreca, Sanovo Egg Group, Interovo Egg Group BV, and Dalian Hanovo Foods Co., Ltd.