Global Statistics Representing Egg Protein Powder Market Scenario
Increasing health-conscious population across the globe have increased the consumption of egg protein as it offers numerous health benefits in weight management and muscle building. In addition, more people are preferring high protein content-based food products such as egg protein powder. This, in turn, has boosted the adoption of protein ingredients in the sport and food & beverage industries.
Global market is filled with many players to cater to the increasing demand. However, with huge number of market players, innovation and new product launch have become an essential strategy to sustain in the market. Recently, ‘Designer Protein’ launched ‘Totally Egg,’ egg protein powder enriched with both egg whites and yolk.
Global egg protein powder market is over USD 10,223 Million in 2017 and is expected to grow at a healthy CAGR of 30.7% during the forecast period, 2019–2026.
Global egg protein powder market is segmented by product type and application.
By product type, the market is segmented into whole egg powder, egg white powder, and egg yolk powder. The egg white powder is expected to grow at the highest CAGR due to increased nutritional requirements of consumers. Egg white protein is easily absorbable in the blood, hence protein synthesis occurs at a high rate. This factor has made it a popular choice among sport nutrition products.
Based on application, the egg protein powder market is segmented into bakery, meat products, ice cream, dietary supplements, and other applications. The dietary supplements segment is expected to dominate the egg protein market due to rising understanding about benefits of micronutrients and vitamins. In addition, busy urban lifestyle leading to unhealthy dietary choices, which have compelled people to look for healthy and time-efficient products. Dietary supplements offer a range of nutrients such as vitamin B12, Vitamin D, iron, and minerals, among others.
Geographically, the global egg protein powder market is segmented into four regions: America, Europe, Asia Pacific, and Middle East & Africa (LAMEA).
North America is likely to dominate the global egg protein powder market. This can be attributed to increasing health-conscious population in the region and easy availability of raw material. The region produces eggs in large quantity. For instance, in 2018, the U.S. egg production was valued at around USD 8.58 billion. It provides an opportunity to manufactures to launch innovative products with different variations. EGGWAY offers high-quality egg powder in 5 variations as per international quality standards. These products have different applications in bakery industry such as glazing agent, pasta noodles, and others. Sports is one of the leading sectors in Brazil, which further facilitate the demand for health and wellness products. Free pass and personal training in the gym by the owners to influence crowd towards sports nutrition purchase in the region is also supporting the growth of the market.
Europe is the second largest market globally backed by huge demand for bakery products having high protein content. Europe has one of the most well-established bakery industries globally. The country has around 1,000 bakery plants. In addition, various government organizations are working to create a positive environment for food supplements and protein intake.
Asia Pacific is expected to witness significant growth during the forecast period. This can be attributed to the increasing influence of western lifestyle on the young generation regarding diet. Japan and China are the most egg consuming countries in the region. In addition, Asia Pacific has a large malnutritional population as well as micronutrient deficiency, has been prevalent in the region since a long time. To tackle these challenges, government and international organizations have launched several campaigns and programs. Egg is a wholesome, high nutrient option as it provides 12% of the daily value for protein with several other nutrients like vitamins, essential amino acids, and minerals and it has helped countries like India to reduce burden of malnutrition. Furthermore, manufacturers have also come up with egg protein powder alternative for millennial generation in the region.
MEA is expected to witness significant growth during the forecast period. Increasing penetration of egg protein powder manufacturers in the region is offering new opportunities for the market. For instance, PURE SPORTS NUTRITION offers products in the region and is also actively support local athletes and sports events.
Some of the key players in the global egg protein powder market are Bouwhuis-Enthoven (Netherlands), SANOVO TECHNOLOGY GROUP (Denmark), The Eurovo Group (Italy), IGRECA France (France), Rose Acre Farms (U.S.), Daiichi-Kasei Co., Ltd. (Japan), Dalian Hanovo Foods Co., Ltd (China), GF Ovodry S.p.a. (Italy), and Taiyo International (Japan).
Egg Protein Powder Market Segmentation
By Product Type
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