Egg white powder market to witness strong revenue growth
Growth of the egg white powder market is to be propelled by the expansion of the food processing sector across East Asia.
Dietary supplements will continue to account for a prominent value share in the egg white powder market.
The global egg white powder market is likely to be valued at $1.3 billion in 2019, and witness strong growth in revenues in the near future.
This is according to a new study by Future Market Insights, which states that while North America and Europe will remain prominent markets for egg white powder sales, the attractiveness of the East Asian market is rising at a brisk pace. It also anticipates further growth of this market to be propelled by the expansion of the food processing sector across East Asia, particularly China, South Korea, and Japan.
Convenient storage, affordability, and lasting shelf life of egg white powder continue to solidify its growing popularity over fresh eggs, among consumers. However, while this remains a strong factor pushing the demand for egg white powder, there could be a potential negative from the impact of the ‘vegan’ trend, thriving all over the globe. The trend of veganism is observing its second wave of growth in developing countries, which further poses a threat to this market in both developed and developing regional markets.
Dietary supplements will continue to account for a prominent value share in this market. With the prevalence of chronic ailments rising, nutritional supplements have become an integral part of the lifestyle for many consumers.
The growing popularity of consumers choosing protein-rich foods as a part of a routine diet with wholesome protein sources, such as egg white powder, will further propel the market.
Furthermore, sales in the B2B category will remain prominent in the long run, whereas the B2C category will be modest. Revenue contribution from B2C sales of egg white powder is primarily sustained by hypermarkets and supermarkets, as the availability of protein-rich ingredients at retail and convenience stores is improving rapidly.