NEWARK, Del, Nov. 06, 2023 (GLOBE NEWSWIRE) -- The egg protein market is anticipated to be worth US$ 8,895.73 million in 2023. Whereas, in 2022 the market was valued to be US$ 8,381.07 million. By 2033, the market size is expected to be worth US$ 17,048.18 million.
Growing health and fitness trends drive market demand. Fitness enthusiasts are looking for foods that are abundant in nutrients but low in fat. Egg protein reaches the sweet spot, being high in protein but low in calories and fat. Furthermore, because of the health benefits it provides, egg protein is in high demand among sports nutrition makers.
Egg protein is also used in the production of bread, confectionery, and other related items. Egg protein is a thickening, binder, and foaming agent. Emulsifiers also contain egg protein. As a result, egg protein is a popular product among processed food manufacturers.
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The application of egg protein in haircare and skincare products is rising. Egg protein is acknowledged to smoothen skin and better condition hair. Another industry where egg protein is being used is the animal feed industry. Egg protein is used to make livestock healthier and more robust.
“Producers in the market are experimenting with egg protein to widen the market scope. Manufacturers have started offering sugar-free and gluten-free versions of egg protein to make the product's consumer base more inclusive. Manufacturers are also experimenting with varied flavors in egg proteins. Thus, there is promise in developing new and exciting products in the egg protein market”, says Nandini Roy Choudhury (Client Partner for Food and Beverages at Future Market Insights, Inc.)
Key Takeaways from the Egg Protein Market
- Sports nutrition is the most popular application of egg protein. In 2023, sports nutrition is expected to hold 19.4% of the egg nutrition market share by end-use application.
- The thickening function of egg protein is valuable for food manufacturers. In 2023, thickening is projected to contribute to 20.8% of the market share by function.
- China is projected to show exceptional growth in the market. The Chinese market's CAGR is estimated to be 9.6% from 2023 to 2033.
- Japan is another Asian country with significant growth potential. The market is tipped to progress at a CAGR of 8.4% in Japan over the forecast period.
- Australia is emerging as a significant country in the market. The CAGR over the forecast period in Australia is pegged at 7.9%.
Competitive Landscape of the Egg Protein Market
Investment in research & development is a key strategy among industry players. The market is highly fragmented, with several options present for the consumers. However, established names that are giving unexpected results in the market include Cargill Inc., Rose Acre Farms, Bouwhuis Enthoven, and IGRECA.
Recent Developments
- In January 2022, Symrise acquired the Dutch brand Schaffelaarbos. Schaffelaarbos is known for its egg nutrition products targeted at pets.
- In November 2021, investment into egg protein was made in Rwanda. The United Nations Food and Agriculture Organization (FAO) procured the investment, and through it, the organization means to extract protein from eggs.
- In October 2023, EVERY Co. and Grupo Nutresa collaborated to improve the organizations' protein production capabilities.
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Key Companies in the Egg Protein Market
- Cargill Inc.
- Rose Acre Farms
- Bouwhuis Enthoven
- IGRECA
- SANOVO TECHNOLOGY GROUP
- Interovo Egg Group BV
- Dalian Hanovo Foods Co. Ltd
- Kewpie Corporation
- Rembrandt Enterprises
- Wulro BV
Key Segments
By End Use:
- Bakery & Confectionery
- Protein & Nutritional Bars
- Breakfast Cereals
- Functional Beverages
- Dietary Supplements
- Sports Nutrition
- Infant Nutrition
- Prepared Foods
- Meat Analogs
- Dressings, Sauces & Spreads
- Pharmaceutical Products
- Personal Care Products
- Dairy & Desserts
- Others
By Function:
- Thickening
- Leavening
- Binding
- Preservatives/Antimicrobial
- Emulsifying
- Crystallization
- Others
By Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- The Middle East and Africa
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Author
Nandini Roy Choudhury (Client Partner for Food & Beverages at Future Market Insights, Inc.) has 7+ years of management consulting experience. She advises industry leaders and explores off-the-eye opportunities and challenges. She puts processes and operating models in place to support their business objectives.
She has exceptional analytical skills and often brings thought leadership to the table.
Nandini has vast functional expertise in key niches, including but not limited to food ingredients, nutrition & health solutions, animal nutrition, and marine nutrients. She is also well-versed in the pharmaceuticals, biotechnology, retail, and chemical sectors, where she advises market participants to develop methodologies and strategies that deliver results.
Her core expertise lies in corporate growth strategy, sales and marketing effectiveness, acquisitions and post-merger integration and cost reduction. Nandini has an MBA in Finance from MIT School of Business. She also holds a Bachelor’s Degree in Electrical Engineering from Nagpur University, India.
Nandini has authored several publications, and quoted in journals including Beverage Industry, Bloomberg, and Wine Industry Advisor.
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