The global egg powder market is set to witness growth at a CAGR of 4.9% and is anticipated to reach a valuation of around USD 2.6 Bn by 2032.
Egg powder’s prospects are being bolstered by the growing health & wellness trend, owing to the fact that it is a complete protein that is diet-friendly, lactose-free, and aids in muscle regeneration. Egg powder’s lactose-free property has recently sparked curiosity as a potential replacement for dairy-based whey alternatives.
The growth in protein powder consumption may be attributed to the rising health & wellness trend, with top market players capitalizing in on the rapid expansion of naturally high-protein foods. Leading companies in the industry are competing to grow their revenue streams by leveraging the clean label profile of egg powder.
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Furthermore, dietary supplements and medicines have blurred the lines between where full protein powders can be used. This has resulted in new opportunity for the market players to diversify their portfolio, for food processing and pharmaceuticals.
Key Takeaways from Market Study
- The market is segmented based on type, wherein whole egg powder is anticipated to account for around 40% of the market share over the forecast period.
- The North American egg powder market is expected to witness a lucrative growth rate of 5.0% during the forecast period.
- North America is inferred to account for 2/5th of the global egg powder consumption through 2032
- Use of egg powder sold in food and beverages is expected to hold a market share of over 30% in the forecast period
- The supply chain for the egg powder market was severely hindered by the pandemic, resulting in a sales slowdown. However, with the recovery of the economy and rising consumer demand for healthy and nutritious foods, the business is expected to grow significantly.
“Considering the ongoing trend of consuming innovative clean label products, the egg powder market is extremely likely to see a new wave of application possibilities emerge in the future years,” says a Future Market Insights analyst.
Consumers’ preferences appear to be shifting towards classic and unique flavors and tastes in recent years, as a result egg powder manufacturers have adjusted their focus towards customer-centric product offerings.
This has creates a window of opportunity for producers who are wagered to try out new varieties and develop unique products. Companies have established a roadmap to manufacture products that address consumer needs and regularly launch new in-trend products owing to innovation-driven methods. The lucrativeness of the industry is expected to steadily rise in years to come as innovation adds new dimensions to egg powder manufacturers’ capabilities.
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Explore More Valuable Insights
Future Market Insights, in its new report, offers an impartial analysis of the global egg powder market, presenting historical data (2017-2021) and estimation statistics for the forecast period of 2022-2032.
The study offers compelling insights based on type (whole egg, egg white and egg yolk), end use (food & beverages (bakery, confectionery, sauces & dressing and others), personal care & cosmetics, pharma, dietary supplements, animal feed & pet food, HoReCa and others), sales channel (offline sales channel (supermarkets/hypermarkets, departmental stores, convenience store and other sales channel) and online sales channel (company website and e-commerce platform)), across seven major regions of the world.