Egg Powder Food Market-Overview
The egg powder market has expanded considerably due to the poultry industry’s extraordinary success over the last decade. The simplicity associated with the use and convenience afforded by egg powders has greatly expanded the market’s size. As per MRFR, the market is estimated to attain a CAGR of 4.78% leading to incomes worth USD 1,395.5 million by 2024.
The market is noted to be boosted by the intensifying demand for food products with high nutritional value, and the aspect of intensifying health consciousness among consumers is encouraging the sales of egg powder food in the global market. Furthermore, as consumers depend more on restaurant-prepared, semi-prepared, and other convenience food options, egg powder makers will profit from this situation.
Segmental Analysis
The egg powder food market segmentation is conducted based on type, application, and region. The egg powder food market is segmented into food and drinks and individual consumption based on application. Based on type, the egg powder food market is segmented into egg yolk powder, egg yolk powder, and egg white powder. Based on regions, the egg powder food market is segmented into Asia-Pacific, North America, Europe, and other regional markets.
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Detailed Regional Analysis
The regional examination of the egg powder food market is segmented into Asia-Pacific, North America, Europe, and other regional markets. The European region’s egg powder food market is anticipated to be predominant. The collective use of egg powder in the cooking industry is a central factor driving market growth in the region. Progress in the food handling business and the high production of egg products are also supporting the provincial market’s development. The egg powder market in Asia-Pacific is anticipated to grow at the fastest rate throughout the forecast period, owing to the region’s rapid growth in chicken farming and rising consumption of egg-based foods.
Competitive Analysis
The essential policies being developed by government bodies worldwide are thought to have a powerful role in the global advancement of the market. The mindset of hypervigilance in the aftermath of the pandemic is intended to guide market decisions throughout the projected period. The market’s production stability is predicted to be variable. Each manufacturer is expected to make microeconomic decisions to ensure long-term business growth and continuity during the forecast timeframe. The COVID-19 pandemic’s drastic changes in the global financial intermediation structure are believed to influence how firms acquire finance in the comparable period. The restructuring of the market’s fundamental operations is expected to impact the market shortly. The upsurge in innovative technologies in the global supply chain is estimated to generate opportunities during the forecast period. The market is projected to witness an improvement in growth cues in the near future. The reclaimed market potential is projected to augment the worldwide market’s progress.
The vital companies in the egg powder food market are Ovostar Union N.V (the Netherlands), Rose Acre Farms, Inc (U.S.), SKM Egg Products Export (India) Ltd., Adriaan Goede B.V. (the Netherlands), Rembrandt Enterprises, Inc. (U.S.), IGRECA SA (France), Pulviver Sprl (U.K), Bouwhuis Enthoven B.V. (the Netherlands), Agroholding Avangard (Cyprus), and Interovo Egg Group B.V (the Netherlands) among others.
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Industry Updates:
Dec 2021 Every Company has raised a further $175 million for its precision fermentation egg protein in an oversubscribed Series C fundraising round, bringing its total funding to more than $230 million. According to the company, the oversubscribed Series C reflects the rising demand for animal-free protein as well as the expanding interest in the precision fermentation market. Every, formerly Clara Foods, intends to utilize the funds to expand manufacturing and investigate new applications for its vegan ClearEgg. The business also intends to investigate more proteins in eggs to reproduce using its innovative fermentation process. ClearEgg, unlike the mung-bean-based Just Egg, is not an omelet alternative. It is, instead, a flavorless and odorless protein powder designed to improve the nutritional quality of foods. Its primary application at the moment is in beverage enhancement.
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