Egg Protein Powder Global Market Report 2024: High Bioavailability and Allergen-Free Traits Driving Market Expansion
Egg Protein Powder Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
The Business Research Company's Egg Protein Powder Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
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What Does the Global Egg Protein Powder Market Look Like in 2024?
Offering high-quality proteins with excellent amino acid profiles, the egg protein powder market has shown substantial growth. With a projected value of $4.9 billion in 2024, up from $4.59 billion in 2023, the market boasts a compound annual growth rate CAGR of 6.6%. The boom in this sector can be attributed to influencers such as its usage in fitness and sports nutrition, shifting dietary preferences, its allergen-free nature, and its versatility in baking and culinary applications, or weight management strategies.
Will the Egg Protein Powder Market Continue to Show Robust Growth in the Future?
In years to come, the egg protein powder market is anticipated to witness further expansion. Expected to reach a remarkable $6.47 billion in 2028, the market will sustain a compound annual growth rate CAGR of 7.2%. This forecasted growth can be credited to numerous factors such as accelerating interest in health and wellness, the advent of alternative sustainable ingredients, digital marketing and e-commerce outreach as well as evolution of plant-based alternatives. This period will also see a rising trend in allergen-free and food-sensitive solutions, technological advancement, functional ingredients, as well as innovative applications and new product introductions.
The emerging bullishness in the nutraceuticals & dietary supplement industry is expected to supercharge the growth of the egg protein powder market. Void of lactose and with high bioavailability, egg protein powder possesses strong potential as a significant dietary supplement. Its usage is accelerating in the nutraceutical industry due to its nutritional and functional value. As the nutraceuticals & dietary supplement industry expands globally, demand for egg protein powder is predicted to surge given its importance as a treasured dietary and nutritional supplement. To illustrate, a 2021 news release by the Food Safety and Standards Authority of India FSSAI indicated that by 2025, the Indian nutraceutical market is projected to be valued at around $18 billion. The Indian dietary supplements market, valued at $3,924.44 million in 2020 is predicted to reach $10,198.57 million by 2026, growing at a year-on-year rate of 22%-- presenting significant growth opportunities for the egg protein powder market.
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Who are the key players in the Egg Protein Powder market?
Companies at the forefront of the egg protein powder market include Avangardco Investments Public Limited, Bouwhuis Enthoven B.V., BNL Food Group B.V., DEB EL FOOD B.V., Eurovo Group, Kewpie Corporation, NOW Health Group Inc., VPA Australia Pty Ltd, Rose Acre Farms Inc., Sanovo Technology Group, DEPS B.V., Taiyo Kagaku Co. Ltd., Cargill Incorporated, Archer Daniels Midland Company, DuPont de Nemours Inc., Evonik Industries AG, BASF SE, Koninklijke DSM N.V., Solvay SA, Ajinomoto Co Inc., Novozymes A/S, Chr. Hansen A/S, Red Nucleus Solutions LLC, Nutreco N.V., Adisseo France SAS, Alltech Inc., Weert Limburg B.V., Dutch Farms Inc., Jay Robb Enterprises Inc.
Innovation and new product developments are gaining traction in the egg protein powder market. Companies are focusing on innovation, development, and launches of new products. For instance, in October 2021, an American biotechnology company, The EVERY Company launched the EVERY ClearEgg, the first animal-free egg white protein advertised as animal-free egg white protein. Also, in January 2020, Noblegen Inc., a Canadian advanced nutritional ingredient company, launched a plant-based whole egg powder, marking its first direct-to-consumer product offering.
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How is the Market Segmented?
The egg protein powder market segments include:
1 By Type: Whole Egg Powder, Egg Yolk Powder, Egg White Powder
2 By Form: Solid, Liquid
3 By Application: Dietary Supplements, Bakery Products, Meat Products, Ice Creams, Other Applications
Where Does the Market Stand at a Regional Level?
In 2023, Asia-Pacific stood as the dominant region in the egg protein powder market, demonstrating the highest potential for expansion in the market. The egg protein powder market report encapsulates regions such as Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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