Egg Protein Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

Egg Protein Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

The global egg protein market is projected to grow at a CAGR of 5.1% during the forecast period(2022-2027).

Due to the COVID-19 outbreak, the demand for egg protein surged during the pandemic. Eggs and egg protein products served the purpose of providing nutritious food to maintain immune health during the pandemic. Many farms deliver eggs through e-commerce websites to follow the restrictions imposed. It was estimated that the individual consumption of eggs in United States was more than 250 in 2020. This is mainly due to increased awareness of the benefits of consuming eggs during the pandemic. This led to numerous launches in the egg protein market during the previous years to reach the consumer's demand and serve nutritious food in various desirable forms.

The key factors driving the market are rising awareness among consumers toward nutritional food, favorable increase in sports activities, and increased demand for performance nutrition and beverages.

The rise in strategic marketing activities undertaken by the leading manufacturers to build a larger consumer base and a burgeoning demand from the developing regions provide market growth opportunities.

Changing food habits have increased egg protein consumption globally. Many health benefits are related to egg protein consumption, including weight management and muscle building. Changing consumer lifestyles and rising disposable income in developing countries are stimulating the growth of egg protein-based food products which is expected to drive the growth of the egg protein market. The increased adoption of protein ingredients by the food & beverage industry and increased demand for food products fortified with egg proteins such as Ovalbumin and ovomucin are driving the egg protein market.

The North American region dominated the global egg protein market. Growing consumer focus on leading healthy & active lifestyles, maintaining a healthy diet, and regular exercise is expected to fuel growth. North America is anticipated to witness the fastest growth over the forecast period. Factors such as urbanization, western influence on diets, growing focus on leading active lifestyles, and growing middle-class population with improving disposable incomes in United States and Canada are expected to drive the demand. In addition, fitness and health concerns among the majority of the population, particularly young adults, have immensely increased. According to the USDHHS(United States Department of Health and Human Services, egg and egg protein are one of the recommended foods for a healthy lifestyle in United States, an average per capita egg consumption in United States is about 250 eggs per year.

The market is highly fragmented, with the presence of many regional players. Key players would require high R&D investments in producing innovative products to cater to the changing consumer preferences for convenience food. Some of the major key players in the global egg protein market are Sanovo Technology Group, IGRECA, Bouwhuis Enthoven, Eurovo Group, Rose Acre Farms, Merck KGaA (Sigma Aldrich), VH Group, Dalian Hanovo Foods, Etam Biological Polytron Technologies, GF Ovodry, Taiyo Kagaku Co. Ltd., and Daiichi-Kasei, among others.

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