Egg Processing Market Innovations: Revolutionizing Production Techniques

Eggs are considered as one of the highly nutritious and versatile ingredients used in various food products owing to their high protein content and ease of digestibility. Egg processing involves breaking eggs, mixing, blending, aseptic packaging, and stabilization of egg products to extend their shelf life for use in ready-to-eat meals, bakery products and other food applications. The growing demand for convenience food and ready-to-eat meals is driving the growth of the processed egg market. The global egg processing market is estimated to be valued at US$ 51.9 Bn in 2023 and is expected to exhibit a CAGR of 5.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Opportunity:

The growing demand for processed eggs from the convenience food and ready meals industry presents a key market opportunity for players in the egg processing market. The fast-paced lifestyle has increased the demand for ready to eat meals and food products that can be prepared quickly with minimal effort. Processed egg products such as liquid eggs, frozen eggs, dried eggs and others find wide application in preparation of ready meals, sandwiches, pasta and other convenience food due to attributes like long shelf life and ease of use. The global ready meals market is projected to reach a value of US$ 108 Bn by 2026, growing at a CAGR of 4.6% during the forecast period. Thus, catering to the demand from this high growth segment can be a major opportunity for players in the egg processing market.

Porter’s Analysis
Threat of new entrants: The threat of new entrants is moderate in the egg processing market as it requires high investments in infrastructure, processing facilities and distribution network. However, the market is growing which provides opportunities.

Bargaining power of buyers: The bargaining power of buyers is moderate. The buyers have several options to switch between egg processors but processors also have established suppliers and contracts.

Bargaining power of suppliers: The bargaining power of suppliers is moderate to high. A small number of suppliers supply eggs and they can impact the prices. However, processors can also find alternative suppliers.

Threat of new substitutes: The threat of substitutes is low as eggs have no cost-effective substitutes and are widely used in food processing, bakery and other applications.

Competitive rivalry: The competitive rivalry is high owing to the presence of several regional and global players offering similar products. Players compete on pricing, quality, innovation, and expansion.

SWOT Analysis
Strength: Eggs have high demand across various industries like bakery, snacks, prepared meals etc. and processors benefit from it. Processors have well established distribution and supply chain.
Weaknesses: Egg processors are dependent on availability of quality eggs from farmers which can impact operations. Seasonal fluctuations in egg production impact profitability.

Opportunities: Growing demand for value-added and convenient egg products presents an opportunity. Rising health-consciousness is increasing demand for products like egg whites.
Threats: Volatility in raw material prices due to weather conditions and diseases. Stringent food quality and safety regulations increase compliance costs.

Key Takeaways
The global egg processing market is expected to witness high growth supported by rising demand for value-added egg products.

Regional analysis: The Asia Pacific region accounts for the largest share in the egg processing market led by China and India. China is the largest producer as well as consumer of eggs globally. Rising income levels are driving demand for packaged and convenience foods incorporating processed eggs.

Key players: Key players operating in the egg processing market are Avril, Cal-Maine Foods, Inc., Eurovo S.R.L., Lactosan-Sanovo Holding A/S, Moba B.V., and ACTINI GROUP.