Global Egg Processing Market Size Set to Touch USD 31.56 Billion by 2029
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the global egg processing market size at USD 27.65 billion in 2022. During the forecast period between 2023 and 2029, BlueWeave expects the global egg processing market size to grow at a CAGR of 3.65% reaching a value of USD 31.56 billion by 2029
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the global egg processing market size at USD 27.65 billion in 2022. During the forecast period between 2023 and 2029, BlueWeave expects the global egg processing market size to grow at a CAGR of 3.65% reaching a value of USD 31.56 billion by 2029. Increased egg consumption owing to consumer health consciousness and increased demand for food items with a longer shelf life are two major development factors for the global egg processing market. Additionally, technological developments in egg-processing equipment are anticipated to be a major factor in driving the market's expansion.
Global Egg Processing Market – Overview
A subset of the food processing sector, egg processing involves transforming eggs into a variety of edible forms for consumption. Freezing and dehydration are the two methods that are most frequently employed to preserve eggs. There are several uses for processed egg products, including pre-peeled eggs, pre-peeled hard-boiled eggs, and freeze-dried scrambled eggs. Additionally, processed eggs are available frozen in a number of forms, including omelets, French toast, quiche, and precooked fried and scrambled eggs.
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Global Egg Processing Market – By Application
Based on application, the global egg Processing market is segmented into bakery, confectionery, dairy products, ready-to-eat meals, soups & sauces, and others. The bakery segment accounts for the largest market share. Eggs are frequently used in baking items to thicken, emulsify, raise volume, stabilize, and provide distinctive colors and tastes. Egg whites are necessary for cakes, where they operate as a leavening agent to develop volume and have a distinctive whipping ability. The increasing demand for bakery products as a result of rising spending on packaged and convenience goods is anticipated to drive the global egg processing market's growth during the forecast period.
Impact of COVID-19 on Global Egg Processing Market
The unprecedented COVID-19 pandemic resulted in a significant decline in the global egg processing market's growth. Although the egg processing industry was functional even under lockdown owing to it being an essential commodity, all animal products such as meat, dairy products, and eggs registered low demand during this period. Furthermore, the shortage of labor and disruptions in the supply chain also posed challenges to market growth. However, the market is anticipated to resume its pace in the post COVID-19 period due to increasing health consciousness among consumers and rising demand for convenience food items.
Competitive Landscape
Major players operating in the global egg processing market include Actini Group, Paul Mueller, Cal-Maine Foods, Inc., Moba B.V., Eurovo S.R.L., Igreca S.A., Interovo Egg Group E.V., Pelbo S.P.A., Bouwhis Enthovan, and Sanovo Technology Group. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.
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