Growing awareness among consumers towards nutritional food is expected to play a major role in driving egg protein market growth in the near future. Egg protein is increasingly being fortified into food & beverage products such as ice creams, bakery, meats and sport foods on account of combating nutritional deficiencies. In addition, increasing consumer focus on fitness is also expected to augment market growth over the forecast period. Food & beverage industry growth in China, Brazil and India is expected to drive market growth over the forecast period. Growing protein consumption on account of being an essential nutrition is expected to play a major role in driving market growth.
Other protein sources such as soy, whey, beef and pork have higher protein content than egg protein. Rising demand for these products is expected to hamper egg protein market growth over the next six years Health concerns such as egg allergy is expected to negatively impact the egg protein demand growth. In March 2013, McDonalds announced to deliver a new yolk free egg protein fortified product under the name Egg White Delight. This innovation is expected to be adopted by other fast food joints and would provide new market opportunities over the next six years. Poultry disorders such as bird flu are expected to limit supply of egg protein products and would be a key challenge for the market over the next six years.
Asia Pacific is expected to witness growth due to positive food & beverage industry outlook and growing awareness among consumers towards nutritional food in China and India. Growth of poultry production in India is expected to ensure the availability of egg whites for egg protein production over the forecast period. Growing consumption of red meats such as beef and pork coupled with inclination of people towards high protein content is expected to hamper market growth in North America. Food & beverage industry growth in Brazil and South Africa is expected to have a major impact on egg protein market growth over the next six years. Majority of market participants are based in Japan on account of being the one of the largest manufacturing hub for egg products. Key market players include Kewpie Egg Corporation, Taiyo Kagaku Co. Ltd. and Daiichi-Kasei.
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The demand for nutraceuticals & functional foods is expected to witness an upward surge owing to consumers opting for immunity boosting supplements during the COVID-19 pandemic. Furthermore, a decline in the consumption of poultry, meat and seafood products across the globe is expected to increase the demand for plant and animal-based protein supplements in the near future. The report will account for Covid19 as a key market contributor.