The global ovalbumin powder market size is expected to reach US$ 36.2 Billion in 2032 and exhibit astonishing growth at a CAGR of 5.8% in the forecast period from 2022 to 2032. Increasing usage of low-fat and protein-rich ingredients in a large number of food and beverages is projected to boost the demand for ovalbumin powder in the upcoming years. As per FMI, the ovalbumin powder market is likely to be valued at US$ 30.4 Billion in 2022.
| Report Attribute | Details |
|---|---|
| Ovalbumin Powder Market Estimated Base Year Value (2021) | US$ 29.1 Billion |
| Ovalbumin Powder Market Expected Market Value (2022) | US$ 30.4 Billion |
| Ovalbumin Powder Market Anticipated Forecast Value (2032) | US$ 36.2 Billion |
| Ovalbumin Powder Market Projected Growth Rate (2022 to 2032) | 5.8% CAGR |
Ovalbumin powder is considered to be a major egg white protein that consists of around 75% protein. It is extensively used as a health and nutrition food additive.
Sales of ovalbumin powder are expected to surge in the near future owing to its increasing utilization as a thickening, gelling, foaming, and an emulsifier agent in a wide range of food and beverage preparations.
The high demand for functional food products and dietary supplements backed by the rising health consciousness among consumers is another crucial factors that would aid growth.
Besides, several egg ingredient manufacturers across the globe are increasingly investing in research and development activities to improve the performance and functions of their in-house ovalbumin powder. It is further set to open doors to new growth opportunities for key players present in the global market.
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Increasing usage of ovalbumin powder in various food preparations, such as snacks, confectionery, and bakery worldwide is a major factor that is estimated to push the ovalbumin powder market growth in the assessment period. Rising demand for egg protein powder from those consumers who want to gain weight is another vital factor that is likely to propel growth.
In addition to that, the urgent need for ovalbumin powder to meet the requirements of busy consumers looking for appealing options, but unwilling to compromise on their health is expected to augment growth. High demand for egg protein-based nutritional supplements from athletes is also set to drive the market.
The easy availability of egg protein substitutes, such as peanut butter, black beans, quinoa, almonds, tofu, Greek yogurt, cheddar cheese, and chickpea may decline the demand for ovalbumin powder in the evaluation period. Besides, eggs are considered to be an allergen that can lead to allergies in children by the age of 6. This is another crucial factor that may hamper growth in this market.
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North America is likely to remain at the forefront by acquiring the largest ovalbumin powder market share in the forthcoming years. The rising demand for protein fortified functional food products backed by increasing awareness about health and wellness among consumers is a major factor that is set to bode well for the regional market.
Furthermore, rising preference for wellness-focused diet and surging spending on health products in developed countries, such as Canada and the U.S. are expected to foster the regional market. Increasing usage of ovalbumin powder as a replacement of fresh eggs to prepare protein-rich bakery products is also projected to bolster growth.
The growing prevalence of various lifestyle disorders, such as obesity, heart attack, hypertension, and cardiovascular disease in emerging economies, such as India and China is compelling people to adopt an active lifestyle. It is expected to boost the demand for muscle building and weight loss supplements across these countries, thereby driving sales of ovalbumin powder in Asia Pacific.
Increasing cases of lactose intolerance across this region is leading to the surging demand for lactose-free certified food and beverages. It is further expected to create high demand for dairy-free protein alternatives, including ovalbumin powder. Also, increasing consumer spending on dietary supplements to maintain their overall health is projected to fuel growth in Asia Pacific.
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Some of the prominent players operating in the global ovalbumin powder market include Dalian Hanovo Foods Co., Ltd., Thermo Fisher Scientific, Neova Technologies Inc., Merck & Co. Inc., Modernist Pantry, LLC., Huzhou Zhenlu Biological Products Co., Ltd., Research Products International Corporation, and Kewpie Corporation among others.
The global market is highly competitive in nature. Key players are focusing on introducing new products by investing huge sums in research and development activities. A few other companies are aiming to engage in mergers & acquisitions, joint ventures, contracts, and partnerships to strengthen their positions in the global market.
| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR of 5.8% from 2022 to 2032 |
| Base Year for Estimation | 2021 |
| Historical Data | 2015 to 2020 |
| Forecast Period | 2022 to 2032 |
| Quantitative Units | Revenue in USD Billion, Volume in Kilotons and CAGR from 2022 to 2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
| Segments Covered | Form, End User, Distribution Channel, Region |
| Regions Covered | North America; Latin America; Western Europe; Eastern Europe; APEJ; Japan; Middle East and Africa |
| Key Countries Profiled | USA, Canada, Brazil, Argentina, Germany, UK, France, Spain, Italy, Nordics, BENELUX, Australia & New Zealand, China, India, ASEAN, GCC, South Africa |
| Key Companies Profiled | Dalian Hanovo Foods Co., Ltd.; Thermo Fisher Scientific; Neova Technologies Inc.; Merck & Co. Inc.; Modernist Pantry, LLC.; Huzhou Zhenlu Biological Products Co., Ltd.; Research Products International Corporation; Kewpie Corporation |
| Customization | Available Upon Request |
The global ovalbumin powder market is set to surpass US$ 36.2 Billion in 2032.
North America is set to lead the ovalbumin powder market in the forecast period.
Dalian Hanovo Foods Co., Ltd., Thermo Fisher Scientific, Neova Technologies Inc., Merck & Co. Inc., and Modernist Pantry, LLC. are some of the renowned companies in the ovalbumin powder market.
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Ovalbumin Powder Market
