The global egg protein market is on a significant growth trajectory, projected to expand from a valuation of US$ 250.5 million in 2022 to US$ 418.5 million by 2031, growing at a CAGR of 6.2% during the period from 2023 to 2031. This growth is primarily driven by the increasing adoption of fitness activities and a rising demand for protein-rich foods.
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Market Drivers
Rise in Fitness Activities
The growing health consciousness among consumers has led to a surge in the adoption of fitness activities. As more individuals focus on maintaining a healthy lifestyle, the demand for high-protein food items, particularly egg proteins, has escalated. Egg proteins are recognized for their numerous health benefits, including weight loss and muscle building, making them a popular choice among fitness enthusiasts.
In recent years, the popularity of gym memberships and fitness classes has soared, with the U.S. alone boasting around 64 million regular health club attendees. Fitness experts frequently recommend egg protein consumption, further driving its market growth. The National Institutes of Health reported that in 2020, 93% of consumers included eggs in their diets, underscoring their integral role in healthy eating.
Increasing Demand for Proteins
Proteins are essential nutrients for the body, crucial for building blood, muscles, skin, and bones. With rising concerns about obesity and related health issues, there is a notable increase in the consumption of protein supplements. According to the State of Obesity Report 2022, nearly 40% of adults in the U.S. were classified as obese, highlighting the urgent need for healthier dietary choices.
The World Health Organization reported that 17.9 million deaths worldwide were linked to cardiovascular diseases in 2020, largely associated with poor dietary habits. As consumers become more health-conscious, there is a growing trend towards protein-rich diets, which is expected to significantly boost the egg protein market in the coming years.
Market Applications
Egg proteins are versatile ingredients widely utilized across various sectors, including food and beverage, animal feed, and cosmetics. In the food industry, egg proteins serve as emulsifiers, thickening agents, and gelling agents, enhancing the texture and stability of products. Their high content of branched-chain amino acids makes them particularly beneficial for muscle growth, positioning them as a preferred choice in sports nutrition.
In animal feed, egg proteins are used as a nutritious protein source, while in the cosmetic sector, they are valued for their conditioning and emulsifying properties, finding applications in shampoos and skincare products.
Regional Insights
Asia Pacific Leads the Market
The Asia Pacific region dominated the egg protein market in 2022, driven by a booming food and beverage sector and increasing health awareness among consumers. Countries like India and China are witnessing a significant rise in egg consumption, contributing to market growth. In fact, China's per capita egg consumption reached 22.4 kilos in 2020, making eggs a staple protein source in various culinary applications, including baked goods and desserts.
The expansion of nutritional supplement awareness in the region, coupled with rising obesity rates, is further fueling demand for egg proteins. The versatility and affordability of eggs make them an attractive option for health-conscious consumers.
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Competitive Landscape
Key players in the egg protein market are focusing on product quality and innovative packaging to meet consumer expectations. Companies such as Cargill, Kewpie Corporation, Davisco Foods International Inc., Sanovo Egg Group, and Rembrandt Corporation are leading the charge in enhancing production capabilities and market reach.
These companies are not only working on expanding their product portfolios but also engaging with stakeholders to ensure the production of safe, competitive, and functional egg products. The emphasis on quality and sustainability is becoming increasingly important as consumers demand transparency in food sourcing and production.
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