In-depth Analysis and Data-driven Insights on the Impact of COVID-19 Included in this Global Egg Packaging Market Report
The global egg packaging market by revenue is expected to grow at a CAGR of over 4% during the period 2019–2025.
The global egg packaging market size to reach $3.7 billion by 2025, growing at a CAGR of 4% during 2020-2025. The industry is majorly driven by the increasing demand for high protein foods across the globe. The exponential growth in egg production has driven egg packaging with consistent demand.
The majority of consumers across the world have preferred to consume eggs over meat as a safe and inexpensive source of protein, which is expected to boost the global market during the period 2020–2025. The increasing demand for packaging in the food industry across the globe, especially in emerging countries in China, India, Brazil, and Indonesia, has aided the growth of the egg packaging market with significant growth in 2019. However, the volatility in raw material costs, especially in APAC, Europe, and North American countries, has led to the fluctuation of packaging material, intense competition among manufacturers, and increasing prohibitory regulations over plastic that are expected to restrict the growth and scope of the market.
The majority of poultry producers across the world are affected by the COVID-19 pandemic; however, the impact varies markedly from region to region in 2019 and 2020. In Q2 2020, countries across the world regions have been at different stages in the disease’s progression, with relaxations in restrictions. The global slump in restaurant dine-in across the world during Q1 and Q2 2020 has pushed egg packaging industries across the regions with a major decline in production and demand. On the global scale, APAC and Europe have mainly remained affected by the spread of the virus.
The following factors are likely to contribute to the growth of the egg packaging market during the forecast period: •Increasing Concerns Over Health and Fitness •Growing Use of Recyclable Materials •Growing Meat-free Diets •Mounting Production of Eggs
The study considers the present scenario of the egg packaging market and its market dynamics for the period 2019?2025. It covers a detailed overview of several market growth enablers, restraints, and trends. The report offers both the demand and supply aspects of the market. It profiles and examines leading companies and other prominent ones operating in the market.
Egg Packaging Market Segmentation The global egg packaging market research report includes a detailed segmentation by material type, product type, and geography. The increasing concern to ban plastic across the globe is expected to bolster the market for paper-based packaging products in the egg industry. Several vendors are actively involved in enhancing product designs with suitable paper materials that are highly attractive to customers. Major countries in APAC, North America, and Europe have made several legislations to ban the usage of single-use plastics. The consumption of paper materials for packaging in APAC is predicted to register the highest market share of around 36% for molded fiber-packed eggs in supermarkets and hypermarkets around the world.
The demand for egg cartons can be majorly attributed to the growth in demand and sale volume of eggs in retail stores. This is because of increasing concerns from shoppers in supermarkets and grocery stores for an improvised design for handy packaging solutions. Although the scope for innovations in packaging materials is low, several vendors change their designs to attract customers in retail stores across the globe. On the global scale, egg packaging companies have started to invest rigorously in recyclable folding cartons to offer eco-friendly solutions, thereby expecting to tap a wide array of potential consumers across the world.
Segmentation by Material Type •Paper oMolded Fiber oPaperboard •Plastic oPolystyrene oPET oPP, PVC, PE oOthers Segmentation by Product Type •Catron •Tray
INSIGHTS BY GEOGRAPHY The increasing number of innovations in the production process and packaging units of eggs across emerging markets is expected to drive the growth of the APAC egg packaging material market. A majority of consumers and farmers in the egg industry has increased their preference over paper-based materials. Several manufacturers in the APAC egg industry have started emphasizing effective packaging to provide safe and secure packaging solutions. Therefore, the demand for alternative materials is expected to surge significantly across major growing countries such as India, China, and Australia during the forecast period. The majority of egg trays manufacturing is environment-friendly and lightweight with reduced wastage due to the increasing demand for bio-degradable materials. The growing concern on the usage of biodegradable plastics is encouraging vendors in the egg cartons market. Highly plastic consuming countries such as India, China, and South Korea have adopted to use eco-friendly solutions such as biodegradable plastic materials.
Segmentation by Geography •North America oUS oCanada •Europe oUK oGermany oFrance oRussia oItaly •APAC oChina oJapan oSouth Korea oIndia oAustralia & NZ •Latin America oBrazil oMexico oArgentina •Middle East & Africa oSaudi Arabia oSouth Africa oIran oUAE
INSIGHTS BY VENDORS The global egg packaging market has been highly fragmented due to the presence of multinational suppliers as well as regional suppliers. Vendors are trying to improve their market share by increasing production capacity and launching new products to expand their market base and grow their geographical reach during the forecast period. Brodrene Hartmann AS, Cascades Inc., and Huhtahmaki are some of the major market participants. Although the growing need for cost efficiency is expected to offer immense growth opportunities, the expected increase in the price of paper packaging materials is estimated to restrain the growth of the market participants globally. The majority of vendors to make the most of the opportunities, they have shifted their focus more on the growth prospects in the fast-growing segments and maintained their positions in the slow-growing segments across the world in 2019.
Other Prominent Vendors •CKF Inc. •Jin Fu Hua Packaging •Mauser Packaging Solutions •Dispak Ltd. •Ovotherm International Handels GmbH •Pactiv
KEY QUESTIONS ANSWERED 1.What is the egg packaging market size and growth rate during the forecast period? 2.What are the factors impacting the growth of the egg packaging market share? 3.What is the growth of the egg packaging market in the Asia Pacific region? 4.Who are the leading vendors in the egg packaging market, and what are their market shares? 5.What is the impact of the COVID-19 pandemic on the egg packaging market shares?
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