New York, USA, July 05, 2023 (GLOBE NEWSWIRE) -- According to the latest report published by Research Dive, the global eggshell membrane market is predicted to rise at a tremendous CAGR of 8.9%, thereby garnering a revenue of $8,384.9 million in the 2023-2032 timeframe. This integrated report presents a brief outlook of the current framework of the eggshell membrane market including its cardinal features like growth drivers, growth opportunities, restraints, and hindrances during the forecast timeframe of 2023-2032. All the necessary market figures are also provided in this report to help new entrants analyze the market easily.
Dynamics of the Market
Drivers: Increasing demand for eggshell membrane from the food & beverage industry is expected to become the primary growth driver of the eggshell membrane market in the forecast period. Moreover, the growing use of eggshell membrane in preserving healthy skin, joints, and connective tissues is expected to help the market grow substantially in the forecast period.
Opportunities: Increasing demand for nutraceuticals and dietary supplements is predicted to offer numerous growth opportunities to the market in the forecast period. Along with this, the eco-friendly nature of eggshell membrane has led to an increase in its demand which is estimated to push the eggshell membrane market forward.
Restraints: Market analysts are, however, skeptical about the full-paced growth of this market owing to the limited production of eggshell membrane, which might prove to be a restraint for the eggshell membrane market.
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Impact of Covid-19 on the Market
The novel coronavirus had wreaked havoc in the world. The lockdowns put in place to curb the virus affected various industries and their production cycles. The eggshell membrane market, too, has been negatively affected by the pandemic. The lockdowns and travel restrictions brought down the rate of production of eggshell membrane which affected the growth rate of the market during the pandemic.
Segments of the Market
The report has divided the eggshell membrane market into certain segments based on type, application, and region.
Type: Hydrolyzed Sub-segment to be the Most Dominant
The hydrolyzed sub-segment is expected to be a highly dominant sub-segment by 2032. The increasing demand for natural and organic products containing hydrolyzed eggshell membrane such as personal care products, nutraceuticals, and food supplements, etc., is predicted to boost the growth of this sub-segment in the forecast period.
Application: Food & Beverages Sub-segment to Have a Significant Market Share
The food & beverages sub-segment is expected to have a significant market share during the 2023-2032 timeframe. Growing use of eggshell membranes in functional foods and beverages due to the richness in proteins, collagen, elastin, glycosaminoglycans (GAGs) is predicted to push the sub-segment forward in the forecast period.
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Region: Market in the Asia-Pacific Region to be the Most Profitable
The eggshell membrane market in the Asia-Pacific region is expected to become the most profitable sub-segment. The growing population in this region, rising disposable income, and advancements in the retail area are expected to be the main growth drivers of the market in the forecast period.
Prominent Market Players
Some of the prominent players of the eggshell membrane market are
- Stratum Nutrition (U.S.)
- Eggnovo SL (Spain)
- Certified Nutraceuticals Inc. (U.S.)
- Biova LLC (U.S.)
- Kewpie Corporation (Japan)
- Bolise Co. Ltd. (China)
- Microcore Research Laboratories (India)
- Eggbrane (Netherlands)
- Mitushi Biopharma (India)
- Ecovatec Solutions (Canada)
These players are adopting various business strategies like mergers, acquisitions, and collaborations to gain a prominent position in the market.
For instance, in October 2021, Ancient Nutrition, a lifestyle products manufacturing company, announced the launch of a series of lifestyle products containing fermented eggshell membrane collagen. This product launch is expected to increase the foothold of Ancient Nutrition in the next few years.
Finally, the report also summarizes many crucial aspects of the eggshell membrane market including SWOT analysis, latest strategic developments, financial performance of the key players, and product portfolio.
More about Eggshell Membrane Market:
- How is COVID-19 Impacting the Eggshell Membrane Market?
- Eggshell Membrane Market Size Projected To Generate A Revenue Of $8384.9 Million By 2032How is COVID-19 Impacting the Eggshell Membrane Market?
