Egg Processing Equipment Market estimated to grow with a CAGR of 3.6% during the forecast period from 2018 to 2026
Amey Godbole
Egg Processing Equipment Market (by Equipment Type: Standalone (Loader, Washer, Accumulator, Breaker, Pasteurizer, Spray Dryer, Boiler, and Others(Centrifuge, Filling & Packaging, Homogenizers, etc.)) and Assembly (Up to 70,000 Eggs/Hr, From 70,001 to 200,000 Eggs/Hr, and Above 200,000 Eggs/Hr); by End-user: Food Processing Industry, Baking & Confectionary Industry, Food Manufacturing & Service Industry, and Others (Government Cafeterias, Hostels & Dormitories, Universities, etc.)) - Growth, Future Prospects, and Competitive Landscape, 2018-2026”, the egg processing equipment market was valued US$ 507.0 Mn in 2017 and estimated to grow with a CAGR of 3.6% during the forecast period from 2018 to 2026.
Industry Outlook
Eggs are considered as one of the most gifted food items after milk and tagged as complete food packed with several essential macro and micro-nutrients. Egg has been a part of human diet from hundreds of years and the demand for eggs continues to grow perpetually with the growth in global population. Eggs are used as the main ingredient in several food preparations both in residential as well commercial platforms. Commercial food industries need to process millions of eggs per day and the task cannot be performed efficiently without using machines & equipment. Growing food processing industry and continuously rising demand for eggs certainly encouraged the demand for egg processing equipment. Consequently, egg processing equipment market registered market value of US$ 507 Mn in 2017 and expected to reach US$ 699.9 Mn by 2026 growing with a growth rate of 3.6% throughout the forecast period from 2018 to 2026.
Market Synopsis
Standalone Equipment Holds an Upper Hand Over Assembly of Egg Processing Equipment
A number of egg processing equipment in the form of standalone and assemblies are available for egg processing depending upon the capacity and nature of end-product required. End-use industry can easily procure a single equipment or can customize the assembly required with a turnkey alternative always at disposal. Standalone egg processing equipment is further classified into loader, washer, accumulator, breaker, pasteurizer, spray dryer, boiler ar, and several other equipment. These equipment are procured individually according to the need and capacity and ensure less procurement cost instead of incorporating complete assembly. According to assembly, the equipment is classified on the basis of egg processing capacity. The assemblies are classified as up to 70,000 eggs/Hr, from 70,001 to 200,000 eggs/Hr and above 200,000 eggs/Hr. In 2017, standalone egg processing equipment leads the equipment type segment in terms of market value. Standalone equipment projected to retain their dominance over the market throughout the forecast period from 2018 to 2026.
Flourishing Food Processing Industry Stimulating the Egg Processing Equipment Growth
Food processing industry made some radical development in past few years and the progression expected to run a long way in future. Egg is a vital element in food group, it is used extensively across several delicacies and an important component of processed food. Millions of eggs are processed by food processing industry each day and hence the industry claims the majority of market share in egg processing equipment market. The segment is closely followed by bakery & confectionery industry in terms of market value. Bakery products are relished worldwide on a considerable scale and egg processing is an essential part of the bakery & confectionaries industry. In order to produce large batches of eggs, the industry extensively depends upon egg processing equipment. Therefore, bakery & confectionery industry also contribute major share along with food processing industry in overall egg processing equipment market.
Asia Pacific Hold the Key to Become Market Leader in Coming Years Owing to its Vast Population
North America currently holds the title of the most dominating region in global egg processing equipment market in terms of market value. In 2016, the U.S. produced more than 101.95 Bn eggs and citizens here love to start their day with eggs in some form. This helped the region to register majority of market share in egg processing equipment market. However, presence of number of agricultural countries and vast population expected to help Asia Pacific to emerge as the new egg processing equipment market leader in coming years. Countries such as China, India, Japan, and Indonesia together contribute more than 65% of the global egg production and continuous proliferation in population stimulating the demand for more eggs and egg products. Consequently, the demand for egg processing equipment experiencing continuous rise from past few years and projected to grow in multiples throughout and beyond the forecast period.
Amey Godbole (Editor)
Amey Godbole is a Senior Research Analyst working with Credence Research since its inception. He has an experience of market research in the fields of E-commerce, Information Technology (IT) Services & Solutions and Electronics segments. Amey has completed B.E. with specialization in Electronics & Telecommunication from University of Mumbai and MBA in Marketing.
Contact:
Email: Amey@industrynewsupdate.com
Mo. No. 919719670423
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