New York, USA, Oct. 05, 2022 (GLOBE NEWSWIRE) -- According to the report published by Research Dive, the global eggshell membrane market is projected to garner a revenue of $192.5 million by 2026 and grow at a CAGR of 9.6% during the forecast period 2019-2026. The comprehensive report provides a brief overview of the current scenario of the market, including other aspects such as dynamics of the market, growth and restraining factors, challenges, and opportunities during the forecast period. The report also offers the market figures, which makes it easier and more beneficial for the new participants to understand the real-time scenario of the market.
Factors Impacting the Market Size Pre and Post the Covid-19 Pandemic
According to the report, the real-time market size has considerably decreased compared to the pre-pandemic apprehensions. The real-time market size reached a revenue of $83.3 million in 2020, while its estimations were $111.0 million in the pre-pandemic scenario. Community transmission of the Covid-19 virus in different economies is estimated to hamper the growth of the global eggshell membrane market during the forecast period. In addition, the availability of alternative products such as animal proteins, plant-based proteins, and dairy-based proteins, is yet another factor predicted to restrict the market growth by 2026.
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Factors Impacting the CAGR Figures Pre and Post the Covid-19 Pandemic
According to the report, the eggshell membrane market is expected to grow at a CAGR of 9.6% during the forecast period, while it was anticipated to be 10.1% in the pre-pandemic scenario from 2019-2026. The disruptions in global supply chains due to the lockdowns and travel restrictions put in place to curb the spread of the virus are anticipated to be the leading factors behind the fall in the growth rate of the market in the forecast period. In addition to this, the presence of alternative protein sources such as animal protein, dairy protein, or plant-based protein is estimated to put a halt to the growth trajectory of the eggshell membrane market.
Post Pandemic Insight
As per the report, the global eggshell membrane market is expected to recover by the 1st /2nd quarter of 2022. The increasing incidence of bone diseases such as osteoporosis is expected to increase the demand for eggshell membrane in the post-pandemic period. The growing trend of opting for pharmaceuticals and cosmetics having natural base products is anticipated to push the eggshell membrane market in the forecast period, and help in recovering the lost ground in the pandemic.
Significant Market Players
Some significant players of the eggshell membrane market include
- Biova LLC
- Kewpie Corporation
- Mitushi Biopharma.
- Ecovatec Solutions Inc.
- Stratum Nutrition
- Certified Nutraceuticals Inc.
- Microcore
- EGGBRANE
- KnuGroup, Inc.
- EGGNOVO SL
These market players are concentrating on developing strategies such as new product launches, research and development, following trending market ideas, building product portfolio, mergers & acquisitions, collaborations, and business expansions.
For instance, in January 2021, Stratum Nutrition’s NEM, an eggshell membrane brand for improving joint health, announced that it had received approval from the Food Safety Standards Authority of India (FSSAI), a statutory body under the Government of India. Stratum Nutrition is a leading dietary supplement provider and this approval has effectively opened the gates of the Indian market for the company to sell the product. This will go a long way in securing a strong position for the company in the industry in the near future.
The report also sums up many crucial aspects including the financial performance of the key players, SWOT analysis, product portfolio, and latest strategic developments.
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