Bizizz Market Research has recently published a research report, “Egg Packaging Market By Material Type (Molded fibre, Plastic, (Polystyrene, PET and Others)), Products (Tray and Cartoons), Component, and Region-Global Industry Trends, Estimation & Forecast, 2019 – 2027”.
As per the report, Global Egg Packaging Market was valued at US$ XX Bn in 2018 and it is anticipated to reach a market value of US$ 9.12 Bn by 2027, witnessing a CAGR of 6 % during the forecast period. Key drivers of the market are higher production and consumption rate of eggs coupled with increased demand for the innovative packaging .
Globally the demand for Egg packaging has increased its prominence by growing consumption of eggs and its increased usage by the food and beverages industries in recent years. The key factor contributing to the global egg packaging market is because of the fragile nature of eggs, accordingly, much higher quality of the packaging is needed for preventing different types of damages. Traditional methods of packaging including cartons and trays are manufactured to withstand shocks in various means of transportation and handling eggs by the individuals. Moreover, outer surfaces are contributed by an external covering which protects the eggs from damage and avoids its quality. Its demand could also be driven by the exponential growth of the global egg production rate and consumption.
The Egg Packaging market is anticipated to register a CAGR of over 6% during the forecast period.
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By Materials, Molded Fiber-Based segment held a key share in Global Egg Packaging Market in 2018.
The global Egg packaging producers are applying moulded fibre-based packaging solutions that have a lesser carbon footprint. Packaging experts and consumer products organizations including the egg packaging industry are focusing on eco-friendly packaging materials, such as polystyrene that is not an easily recyclable and requires a greater amount of fossil fuel to be generated. Greater demand for sustainable packaging solutions that include moulded fibre in the egg packaging industry is observed in recent years globally. Thus, Egg packaging is a vital factor that is in the role of managing the shelf life period of eggs and decreasing the negative effects of dust and dirt during transportation from one place to another coupled with its handling procedures.
North America is Anticipated to Dominate the Global Egg Packaging Market during the Forecast Period
North America holds the highest market demand for egg packaging in 2018, because of increasing health consciousness and greater purchasing power of the individuals in the region. Traditional eating habits and the shift in the lifestyles coupled with other positive factors in the North American egg packaging market. The core factors that are contributing to its market share are because of the contribution of the United States and Canada. However, advanced technologies contributing to a cost-effective packaging contribute in enabling the exponential growth North American market. Bio-degradable packaging materials are evidently popular in this region.
Global Egg Packaging market was moderately consolidated with key players accounting for a significant share in 2018. Its competitiveness could be attributed to the higher demand for technologically advanced egg packaging solutions along with eco-friendly nature are substantiating its market demand.
Prominent players operating in the Global Egg Packaging Market are Ovotherm International Handel, Pactiv Technologies, Brodrene Hartmann, UFP Technologies, Ulma Packaging, DFM Packaging Solutions, among others.
Impact of COVID-19 on Economy, Industry and Company
The emergence of novel coronavirus has affected the global economy, industry dynamics and company’s top line. The entire ecosystem has to suffer the impact of this pandemic disease which would result in demand & supply gap, production delay and weak consumer demand of end products across industries.
At Bizizz Market Research, our analyst has done extensive research across industries and identified various methodologies which would assist C-Level executives to counter this ongoing threat and make informed business decisions.
Areas at which Bizizz Market Research would help decision makers are:
a) Insights on current demand & supply gap analysis
b) Impact on value chain and supply chain and strategies adopted to off set its impact
c) Impact on Industry / company revenue and predictive intelligence on forecast sales
d) In-depth analysis on market segmentation – both value and volume analysis
e) Market assessment, regional
and country attractiveness, competitive benchmarking
and entry strategy
f) Prioritizing strategies and
how it would impact company’s short to long-term business
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