The global egg processing equipment market is expected to have shifting consumer preference towards processed food coupled with increasing demand for high-quality egg products as major driving factors over the next six years. Increasing demand for high protein food and nutritional dietary supplements are anticipated to fuel egg processing and equipment market growth over the forecast period. Technological advancements such as integrated assembly lines with improved production rates and reduced operational costs are estimated to have a positive impact on market growth over the forecast period. Egg processing & equipment industry participants have been adopting high-quality manufacturing standards and have been constantly involved in product development. Major companies such as Sanovo Technology Group have introduced innovative pasteurizing equipment that minimize salmonella presence in egg products which may cause food poisoning, thus creating more demand for these products. Stringent regulations by FDA regarding functional foods and egg proteins are anticipated to restrain market growth over the next few years.
On the basis of products, egg processing market has been segmented into frozen, liquid, and dried products. Frozen and liquid products were the largest egg processing product segments in 2013. Dried products are estimated to witness the highest growth rates over the next few years on account of increasing demand for egg proteins and functional foods in international markets. On the basis of applications, the global egg processing industry has been segmented into dairy, soups & sauces, baking, confectionery, and ready to eat (RTE) products. In terms of regional demand, North America dominated the global egg processing and equipment market in 2013. The market in this region is characterized by advancements in extraction technologies coupled with growing health consciousness among average consumers. Egg processing and equipment market is expected to witness the highest growth rates in Asia Pacific over the forecast period. The rising demand for processed egg products coupled with increasing health consciousness among the consumers is estimated to drive market growth in this region over the forecast period.
Key egg processing equipment market participants are investing heavily to expand their businesses. These key players are also making large investments in the development of new equipment to maintain a competitive edge. These companies are entering into collaborations, agreements, joint ventures to gain market share. Major participants in the egg processing and Equipment market include Pelbo S.P.A, Moba b.v., Glon Group, Gruppo Eurovo, Sanovo Technology Group, Actini Group, Igreca S.A. Bouwhuis Enthovan, Interovo Egg Group B.V., OVO Tech, and Pelbo S.P.A.
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The demand for packaged and processed foods is expected to increase owing to their longer shelf life. Furthermore, manufacturers are closely monitoring the product supply to major retailers through specialized communication channels in order to improve restocking. In addition, processed food manufacturers have urged the packaging raw material suppliers as well as contract packers to ensure a steady flow of goods during the lockdown related to COVID-19. The report will account for Covid19 as a key market contributor.