The scope of our recent study on the “Egg Packaging Market Forecast t2027 – COVID-19 Impact and Global Analysis – by Material Type (Paper, Plastic, and Others) and Packaging Type (Cartons, Containers, Trays, and Others),” includes the factors fueling the market growth, revenue estimation and forecast, and market share analysis, along with the identification of significant market players and their key developments.
The egg packaging market was valued at US$ 4,243.42 million in 2019 and is projected treach US$ 5,932.01 million by 2027; it is expected tgrow at a CAGR of 4.3% from 2020 t2027. Eggs appeal tthe necessities of a busy customer whis looking for a convenient food option but reluctant tcompromise on health as eggs are readily accessible and have high nutrition and protein content. Moreover, in recent times, eggs are considered as an attractive unprocessed protein source alternative tmeat. The eggs' low environmental footprint than other animal proteins is another factor making them appealing tthe environmentally-conscious populace. Therefore, the rising consumer preference for eggs as protein-based food is increasing the sales of eggs globally and thereby bolstering the egg packaging market.
Based on material type, the egg packaging market is segmented intpaper, plastic, and others. In 2019, the paper segment held the largest market share. Paper-based packaging protects goods and reduces waste as well as it is recyclable. Recycling waste paper and packaging responsibly reduces litter and landfill. It prevents waste through breakage, spoilage, and contamination, and extends shelf life of product. Paper-based packaging is a versatile and cost-efficient method ttransport, protect, and preserve a wide array of items. It is engineered tbe sturdy, yet lightweight, and is customizable tmeet product- or customer-specific needs. Paper-based packaging is made from paper pulp. Its design has not changed much since then. It was replaced for a while with PET packaging but the public preferred the natural look and feel of the paper pulp carton. Paper egg cartons are biodegradable and accepted by almost all local recycling agencies. All these factors propel the growth of the egg packaging market for paper segment.
The global egg packaging market is segmented intfive main regions—North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and South America (SAM). In 2019, the rest of world contributed tthe largest share in the market. Rest of the world comprises several developing regions such as Asia-Packaging, Middle East and Africa, and South America. The high rate of poultry farming and increasing consumption of egg-based foods accelerate the demand for egg packaging in the rest of the world. Advancements in food processing industries leading tthe launches of egg-based products alssupport market growth. Moreover, growing awareness about the health benefits along with high protein content surge the consumption of eggs, which is propelling the demand for egg packaging in the rest of the world.
Impact of COVID-19 Pandemic on Egg Packaging Market
The COVID-19 outbreak was first reported in Wuhan (China) during December 2019. As of August 2021, the US, Brazil, India, Russia, Spain, and the UK are among the worst affected countries in terms confirmed cases and reported deaths. The outbreak is adversely affecting economies and industries in various countries due tlockdowns, travel bans, and business shutdowns. The food and beverage is one of the world’s major industries suffering serious disruptions such as supply chain breaks, technology events cancellations, and office shutdowns. For instance, China is the global manufacturing hub and largest raw material supplier for various industries and it was among one of the worst affected countries. The lockdown of various plants and factories in China have restricted the global supply chains and disrupted the manufacturing activities, delivery schedules, and various materials sales. Various companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition, the global travel bans imposed by countries in Europe, Asia, and North America are hindering the business collaborations and partnerships opportunities. All these factors are hampering the food and beverage industry and thus acting as restraining factors for the growth of various markets related tthis industry.
The report includes the segmentation of the global Egg Packaging market as follows:
Egg Packaging Market, by Material
- Recycled Paper
- Polyethylene Terephthalate
Egg Packaging Market, by Packaging Type
Egg Packaging Market, by Geography
- North America
- Rest of Europe
- Rest of World
- Asia Pacific (APAC)
- Middle East & Africa (MEA)
- South America