According
to the latest market report published by Transparency Market
Research, titled 'Egg Protein Market – Global Industry Analysis
Size, Share, Growth, Trends, and Forecast (2018-2026)', revenue
generated from the egg protein market has been estimated to be valued
at US$ 1056.4 Mn in 2018, which is projected to increase at a CAGR of
4.3% during the forecast period (2018-2026).
The
high nutritional value along with varied functional properties
offered by egg protein are some of the major drivers for its market.
These high-quality egg proteins ensure valuable contribution towards
maintaining and synthesizing muscle power, along with regulation of
blood glucose levels. The egg protein market is segmented on the
basis of flavors in egg protein products, by end use, and by the
various functions offered by egg proteins. In addition, growing
urbanization, busy lifestyles, increasing disposable income of
consumers, and changing consumer preferences are some of the key
factors affecting the egg protein market. In addition to the diverse
applications of egg protein in various different industries, it also
comes in diverse types and flavors, thus giving consumers a variety
to choose from according to their tastes, likings, and needs. The
nature of egg protein makes it a profoundly trend-driven market, and
has a lucrative potential to grow in the coming years. Further, the
growing fitness concerns and health consciousness among consumers
have surged the demand for egg protein supplements rich in amino
acids and others beneficial value-added nutrients.
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APAC
Region Significant in the Egg protein Market
The
APAC region is estimated to account for 26.5% of the market share of
the egg protein market in 2018 by value, with an estimated CAGR of
5.3% during the forecast period of 2018-2026, owing to growing
urbanization, increase in the disposable income of consumers, high
millennial population, growing concerns for health and fitness,
changing lifestyles, and food & beverage preferences. Further,
another factor driving the Asia Pacific egg protein market is the
demand for baby food formulas, which is significantly higher in Asia
due to two major factors: China’s repeal of its one-child policy
and industrialization of South East Asian countries that has led to
an increase in the demand for egg protein, which is an essential
ingredient in infant nutrition, owing to the high nutritional value
offered.
Consumers
are increasingly focusing on product labels to know the quality and
quantity of ingredients and nutrients, sugar, fat, etc., in packaged
food products. This has led to manufacturers using egg protein as an
ingredient in various products, as they are both, nutritious and low
in fat content. The presence of one or more nutrients such as
riboflavin, ovotransferrin, or others in egg protein appeals to a
wide audience, and provides ample marketing scope to manufacturers in
the egg
protein market. In addition, egg protein is being
increasingly perceived as a healthy product that is a viable and safe
source of various amino acids that are not produced in the human body
or are concentrated in the muscles. Overall, with the growing
concerns for muscle fitness, sound body, and healthy nourishment, the
global egg protein industry is projected to rise at a high CAGR
during the forecast period (2018-2026).
TMR
has profiled some of the prominent market participants in the global
egg protein market identified across the value chain, which includes
Davisco Foods International, Inc., Kewpie Corporation, Cargill Inc.,
Rose Acre Farms, Deb-El Foods, Bouwhuis Enthoven, Wulro BV, Igreca,
Sanovo Egg Group, Rembrandt Enterprises Inc., Interovo Egg Group BV,
Adriaan Goede BV, and Now Health Group, Inc., among others.
Egg
proteins are derived from a common raw material, i.e. eggs. The easy
availability of eggs in conjunction with high demand has resulted in
the emergence and presence of a significantly high number of domestic
or small-scale egg protein or end-product manufacturers across the
world. Further, companies in the egg protein market are developing
and innovating new flavors and blends of egg protein, due to the
constant demand for the same among consumers, attributed to varied
taste preferences, regional and cultural choices, and needs. In
addition, the rise in the demand for savory, tasty, and appealing
bakery, confectionery, and dessert items is also fuelling the demand
for egg protein that acts as a thickening and binding agent in these
products, thus giving them a better texture, taste, and proportion.
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