The global egg white powder market was valued at US$ 1,463.84 million in 2019 and is projected to reach US$ 2,652.35 million by 2027; it is expected to grow at a CAGR of 8.0% during 2020-2027.
The rising demand for egg white powder across food processing, pharmaceuticals, and dietary supplements industries, and increasing consumer awareness about the benefits of protein-rich food are the key factors driving the egg white powder market growth.However, the risk of contamination and high costs associated with egg white powder are the factors hampering the market growth.
Despite these limitations, rising focus on research and development and innovation provides lucrative growth opportunities to the market players to grow in the coming years.
The egg white powder market is segmented into grade, distribution channel, and application.Based on grade, the market is segmented into food grade and technical grade.
In 2019, the food grade segment held a larger share of the market.Based on distribution channel, the egg white powder market is divided into direct/B2B and indirect.
The egg white powder market based on indirect distribution channels is expected to grow at a higher CAGR during the forecast period.Based on application, the egg white powder market is segmented into food processing, pharmaceuticals, cosmetics and personal care, dietary supplements, and others.
The food processing segment held the largest market share in 2019, and it is projected to continue its dominance over the forecast period.
Based on geography, the egg white powder market is segmented into North America, Europe, Asia Pacific (APAC), South America, and Middle East and Africa (MEA).Europe held the largest share of the global egg white powder market, followed by North America and Asia Pacific, respectively.
Surge in health-consciousness among the individuals in western countries in Europe has augmented the demand for egg protein and egg powder products.Moreover, the east European region has observed the increased impetus from the western region, and owing to the high protein content and broad application of egg white powder in cosmetics & personal care, and food processing industries, the egg white powder market in the Eastern Europe region is also growing.
Besides this, egg white powder market is well organized in terms of consumer preference, distribution channels, and innovation platforms, which further favors the market for these products in Europe. The key players in the egg white powder market in Europe are also eyeing to expand their presence worldwide by adopting strategies such as mergers and acquisitions, joint ventures, and local company collaborations, which, in turn, provide lucrative growth opportunities to the egg white powder market players.
The COVID-19 pandemic started in Wuhan (China) in December 2019 and has spread worldwide at a rapid pace.China, India, Brazil, Mexico, Spain, the UK, South Africa, and the US are among the most-affected countries in terms of affirmed cases and pronounced deaths as of July 2020.
According to the WHO, there are ~16,523,815 confirmed cases and 655,112 deaths across the world.COVID-19 has affected economies due to lockdowns, travel bans, and business shutdowns.
The global food & beverages industry is one of the major businesses enduring genuine agitating impacts. These factors have intensely affected the overall egg white powder market.
Adriaan Goede B.V.; Agroholding Avanguard; Bouwhuis Enthoven B.V.; Eierhandel Wulro B.V.; Interovo Egg Group; Kewpie Corporation; Oskaloosa Food Products Corporation; Ovostar Union N.V.; Rembrandt Foods, Inc.; and Rose Acre Farms Inc are among the major players in the global egg white powder market.
The egg white powder market size has been derived in accordance with to both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market.
Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic. The participants typically involved in this process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers along with external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the egg white powder market.
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