- Consumer awareness regarding a healthy diet and rise in demand for proteins as nutritional and functional ingredients have boosted the growth of the global egg protein market
PORTLAND, Oregon, Feb. 24, 2020 /PRNewswire/ -- Allied Market Research recently published a report, titled, "Egg Protein Market by Type (Egg White Protein, Whole Egg Protein, and Egg Yolk Protein), Application (Food & Beverages, Nutrition, Personal Care & Cosmetics, Feed, and Others), and Form (Solid and Liquid): Global Opportunity Analysis and Industry Forecast, 2019–2026". According to the report, the global egg protein industry was pegged at $28.03 billion in 2019 and is projected to reach $38.90 billion by 2026, growing at a CAGR of 4.8% from 2019 to 2026.
Driving factors for the market
Consumer awareness regarding healthy diet, and rise in demand for proteins as nutritional and functional ingredients have boosted the growth of the global egg protein market. However, surge in demand for plant-based proteins hampers the market. On the contrary, innovations in products and introduction of protein supplements in the untapped markets are expected to create lucrative opportunities in the near future.
The egg white protein segment held the largest share
Based on type, the egg white protein held the largest share in 2019, contributing to more than half of the global egg protein market, owing to increase in adoption of protein ingredients in nutritional foods and cosmetics products. However, the egg yolk protein segment is expected to portray the fastest CAGR of 5.9% during the forecast period, owing to its multi-functionalities such as thickening, leavening, binding, preservatives/antimicrobial, emulsifying, and crystallization.
The nutrition segment to manifest the fastest CAGR through 2026
The nutrition segment is expected to register the fastest CAGR of 5.9% during the forecast period, due to its high nutritional content and increase in its demand in the developed countries. However, the food & beverage segment held the largest share in 2019, accounting for nearly half of the global egg protein market, owing to surge in the number of health-conscious consumers.
Europe, followed by North America, dominated the market
The global egg protein market across Europe, followed by North America, held the largest share in 2019, contributing to more than one-third of the market. However, the market across the Asia-Pacific region is expected to manifest the fastest CAGR of 6.3% during the forecast period, due to the development of the food & beverage industry and increase in awareness about nutritional supplements among consumers.
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