New York,USA, Oct. 15, 2021 (GLOBE NEWSWIRE) -- A latest report on the global eggshell membrane market published by Research Dive sheds light on the impact of COVID-19 pandemic on the present and future lookout of the market. This report is a valuable study for stakeholders, investors, market participants, and new players looking for comprehensive insights on the impact of COVID-19 on the market growth.
Key Highlights of the Report:
The COVID-19 pandemic has had a negative impact on the growth of the global market for eggshell membrane in 2020. As per the report, the global eggshell membrane market garnered $92.2 million in 2018 and is expected to hit $192.5 million, rising at a CAGR of 9.6% from 2019 to 2026.
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Factors Impacting the Market Growth during the COVID-19 Crisis:
The global eggshell membrane market has witnessed deterioration in growth due to slowdown of business activities, industrial procedures, and upheavals in supply chains during the lockdown in the pandemic period. The closure of several industries has significantly reduced the demand for eggshell membrane, which is hindering the market growth.
Current Face of the Market Due to COVID-19:
Before the outbreak of the pandemic, the market was estimated to garner $111.0 million in 2020. In the present situation, the market size has declined and reached up to $83.3 million in 2020.
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The key players in eggshell membrane market are enduring to operate during this disastrous condition to satisfy the demand for eggshell membrane from several production industries such as cosmetics, food, fibers, etc. The growing investments in R&D and advances, a substantial shift of consumers toward natural products, product and technology developments, and usefulness of eggshell membrane in the beauty and pharmaceutical sectors are likely to unlock profitable opportunities for the global market after the relaxation of the pandemic. The market is expected to recuperate from the incurred losses by the first or second quarter of 2022.
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Future Lookout of the Market:
According to the report, the global eggshell membrane market is expected to observe significant growth after the end of the COVID-19 pandemic, owing to rising investments in R&D activities, partnerships, and new developments in the market. Some of the leading players, such as
- Ecovatec Solutions Inc.
- Certified Nutraceuticals Inc.
- Mitushi Biopharma.
- Microcore
- EGGNOVO SL
- Kewpie Corporation
- Stratum Nutrition
- Biova LLC
- EGGBRANE
- KnuGroup, Inc., and others
are expected to come up with cutting-edge developments and pave way for rewarding opportunities for the market growth in the forthcoming years.
For instance, in July 2021, Lee Health Domain India Pvt. Ltd., a Hyderabad based Indian Pharmaceutical distribution and sales company, launched natural supplement for Osteoarthritis in tablet form under the brand, ‘Smoothwalk’. The tablets comprises natural egg shell membrane, collagen type II, and boswellia & curcumin with Vitamin D3.
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