Egg ingredients refer to egg products that are processed to make them suitable for use in several commercial and residential applications.
Egg ingredients have been used as a substitute for fresh eggs in a bid to decrease or eliminate the amount of cholesterol present in whole eggs. The increased deployment of egg ingredients has helped in the growth of the overall market, in the last few years.
Rising incidence of health disorders such as obesity and diabetes is the key growth driver for the global egg ingredients market.
Also, growing concerns about the chemical additives added to food and beverages have led to an increase in demand for products, rich in egg ingredients.
Products rich in egg ingredients have high nutritional value and help in decreasing the calorie intake per day.
The demand for products rich in egg ingredients has witnessed a surge in the last few years owing to the increasing need among consumers for packaged food products.
Factors such as rising vegan population, high egg prices owing to egg shortage, and increasing prevalence of influenza and bird flu are also expected to fuel the demand for products rich in egg ingredients.
Intake of Egg Ingredient Products Helps Reduce Hunger Leading to Increased Product Demand
Egg ingredient products have proven to be very healthy to maintain effective health. Intake of products rich in egg ingredients for breakfast has also proven to decrease ghrelin hormone, which contributes to hunger in a human body. Egg ingredient products have been found to contain 70 calories.
Some of the products that use egg ingredients include bakery products, dairy products, confectionery products, dietary supplements, and functional food.
As per a report published on Centers for Disease Control and Prevention, approximately half the population residing in the U.S have been consuming dietary supplements.
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Government initiatives and measures such as campaigns and marketing techniques, promoting the use of products rich in egg ingredients are expected to fuel product demand, in the coming years.
COVID-19 Impact on Egg Ingredients Market
The COVID-19 pandemic positively impacted the egg ingredients market. With consumers becoming more aware and conscious about their health, the demand for food products rich in egg ingredients witnessed a rise, which bolstered the overall egg ingredients market.
It is anticipated that in the post COVID-19 phase, these products will continue to witness high demand among consumers.
While egg ingredient products have witnessed an increase in demand in the last few years, they have their disadvantages as well.
Over the years, several other food products, which provide more health benefits have emerged and those have been preferred by health-conscious consumers. This has led to a decrease in demand for products that contain egg ingredients, in turn, negatively impacting the egg ingredients market.
Egg ingredient products have also been found to be costly, thereby becoming accessible for purchase to only a certain population section. This factor could also lead to a reduction in demand for egg ingredient products, in future.
Even as egg ingredients have witnessed a surge in demand in recent times, eggs have still been in demand among a considerable population section. This aspect could dent the growth in the egg ingredients market.
Collaborations, R&D Undertakings Could Be a Key Growth Strategy for Leading Market Players in Future
Leading players in the egg ingredients market have collaborated with other players in a bid to expand their market presence and increase their revenue share.
Manufacturers in the egg ingredients market could look to invest in research and development activities in a bid to produce improved quality of product.
Prominent players have also engaged in different growth strategies such as novel product launches and innovations to existing products in a bid to gain a competitive edge over the other market players.