New York, Jan. 12, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Egg Packaging Market - Global Outlook & Forecast 2023-2028" - https://www.reportlinker.com/p05955550/?utm_source=GNW
In addition, the globally increasing consumption of eggs is expected to boost the demand for the egg production and packaging industry to fulfill the global requirements estimated during the forecast period.
Key Winning Imperatives in the Global Egg Packaging Market:
• Egg cartons have been majorly used in the retail industry for packaging a smaller number of eggs and are generally sold to end-user consumers in supermarkets and hypermarkets worldwide.
• The rapid growth in the inclination of the majority population toward a healthy lifestyle is expected to influence the growth of the egg packaging market.
• The increasing popularity of having eggs in breakfast and several initiatives for healthy and nutritional diets are expected to surge the market for egg packaging along with the rapidly growing egg consumption rate globally.
MARKET TRENDS & OPPORTUNITIES
Shifting Focus Toward Sustainability
• The global packaging industry is undertaking substantial transformation and has overgrown over the past decade. The factors supporting the growth are less developed markets as more consumers move to urban locations and adopt western lifestyles. Such factors have boosted the demand for packaged food across the world. Most leading brands focus on sustainability, and plastic replacement is at the forefront of packaging strategy. Alternative materials such as bioplastic are accessible for almost every conventional plastic material and subsequent application. The rising use of bioplastics in the packaging industry is driven by the constantly growing demand for sustainable products by consumers and brands, owing to increasing awareness of the environmental impact. Such factors are anticipated to drive the egg packaging market globally.
Increasing The Use Of Recyclable Materials
• The industry for recyclable packaging has been boosted significantly by the rise in the global demand for environmentally friendly products. Recyclable packaging is a prominent consideration across most global egg packaging vendors, with increasing environmental concerns to reduce, reuse, and recycle as a crucial step towards sustainable packaging.
Rising Consumption of Egg In The Processed Food Industry
• Increasing modern consumer desirability towards processed foods, advancement in egg processing technology, and consumer awareness are the factors driving the egg packaging market and are expected to drive the future growth of several egg packaging vendors across regions. North America and Europe have the most extensive consumer base for processed egg products, with the growth rate from the United States expected to boom the demand for the processed egg industry.
INDUSTRY RESTRAINTS
The Outbreak of Bird Flu
• Bird flu or Avian influenza refers to the diseases caused by infection with the avian, i.e., bird flu type A viruses. Such viruses naturally spread among wild aquatic birds worldwide and can infect domestic poultry and other birds and animal species. In countries such as the US and Canada, birds face a new highly pathogenic avian flu outbreak in 2022. The outbreak of avian flu in 2022 has impacted the economy. The flu has impacted meat and egg prices over and above what is already experienced owing to inflation. Also, the impact on the farmers is anticipated to be even more prominent, particularly in areas hit hardest by the flu.
• Furthermore, the threat of an ongoing avian flu epidemic is at the top of all poultry suppliers’ minds. Such factors are challenging for the egg industry. In addition, this can impact the egg packaging market during the forecast period.
SEGMENTATION INSIGHTS
INSIGHTS BY PRODUCT
The cartons segment is expected to be the largest in the global egg packaging market under the product category. Predominantly cartons that are made up of paperboard are preferred in global egg packaging industries.
The wide availability and sustainability of paperboard at a lower cost make cartons popular among several egg packaging vendors worldwide. Besides, these cartons can be produced in varied sizes per end-use application as bulkier packaging solutions for wholesalers and retail sizes consumed by households worldwide.
The global carton egg packaging market was valued at USD 2.5 billion in 2022. In addition, the global regulatory bodies’ increasing ban on single-use plastic packaging, and rising sustainability awareness among consumers, are expected to surge several packaging industries to opt for eco-friendly and non-plastic packaging. This trend is further expected to fuel the demand for carton packaging in egg industries across all the regions during the forecast period.
Segmentation by Product
• Cartons
• Trays
INSIGHTS BY PAPER MATERIAL TYPE
Paper packaging is the leading and fastest-growing segment by material type in the global egg packaging market. The growing concerns for sustainable and eco-friendly packaging materials are downgrading the industry demand and value for plastic worldwide. Therefore, several egg packaging vendors, due to the stringent regulations of governments worldwide to ban plastic, have actively invested in alternative materials. This worsening effect has turned the paper-based egg packaging solutions to show a surging positive outlook to be estimated during the forecast period, especially in Europe and the North American region, wherein the demand for the sustainable packaging industry has surged.
The global paper egg packaging market was valued at USD 1.8 billion in 2022. Paper packaging eliminates the breakage of products throughout the entire supply chain, including transportation, distribution, and storage. Globally, several egg farmers prefer to adopt paper material packaging because it prevents the loss of quality, moisture, and egg rotting. Trays, cartons, and family packs are some of the widely preferred types of paper-based packaging used for eggs worldwide. With the rising consumption of eggs, the demand for sustainable paper-based packaging is expected to increase significantly in several emerging global markets in the coming years.
Segmentation by Paper Packaging Type
• Molded Fiber
• Paperboard
INSIGHTS BY PLASTIC MATERIAL TYPE
The global plastic egg packaging market was valued at USD 1.4 billion in 2022. Globally, the growing use of rigid HDPE, PC plastic trays and cartons, as opposed to wraps and films, and bags for industrial packaging applications is expected to impact the market growth positively. In addition, the globally increasing introduction of innovative packaging solutions such as active, modified atmosphere, edible, and bioplastic packaging is also expected to open newer avenues into the global egg packaging market. Due to its highly durable and reusable properties, most egg consumers worldwide have preferred plastic. The global plastic egg packaging market is further segmented into Polystyrene (PS), PET, Polypropylene, PVC, PE, and others. Among these, PET and PVC materials are the most preferred egg packaging materials, accounting for the highest share in the global market. In addition, the light-weighing properties of PET have also increased its application in the egg industry and helped reduce energy consumption significantly on a global scale. Further, PET raw materials have many buyers and sellers, and the market is characterized by oversupply in 2019. Therefore, several egg packaging vendors and brands worldwide are expected to exhibit a higher preference for PET-based plastic packaging during the forecast period.
Segmentation by Plastic Packaging Type
• Polystyrene
• PET (Polyethylene Terephthalate)
• PP (Polypropylene), PVC (Polyvinyl Chloride), PE (Polyethylene)
• Others
INSIGHTS BY PACK SIZE
The 7-15 eggs pack size is the largest segment by pack size and accounts for 33.64% of the global egg packaging market share. The rapid growth in the global restaurant industry and industrial food canteens is expected to be the potential growth drivers for consuming eggs packed in cases that can hold up to 12 eggs. Predominantly, plastic and molded paper tray egg packaging are widely preferred by the majority of consumers across the world. Further, this segment is expected to generate additional revenue of USD 475.46 million during the forecast period, growing at a CAGR of 6.12%.
Segmentation by Pack Size
• Up to 6 Eggs
• 7-15 Eggs
• 16-30 Eggs
• Above 30 Eggs
GEOGRAPHICAL ANALYSIS
APAC dominated the global egg packaging market in 2022 and is growing at a CAGR of 5.62% during the forecast period. The APAC industry is primarily volume-driven due to the growing retail landscape and organized packaging growth. The organized retail and packaging market is pushing for advanced packaging techniques to provide quality egg packaging solutions that can sustain a more prolonged time.
North America and Europe are the regions with more awareness of advanced packaging technologies and are the first to adopt any new trend regarding egg packaging. Further, Europe has the highest sensitivity and awareness in providing sustainable and eco-friendly packaging that most of the population prefers. Moreover, several food safety authorities in major developed economies like Germany, Belgium, and the UK have proposed several updates in regulations for packaging standards that are expected to drive innovations among significant vendors in the egg packaging market in Europe.
The North American egg packaging market is expected to grow at a CAGR of 5.97% during the forecast period. The growth rate in the egg packaging market in the region is expected to be supported by major nutritional organizations and food safety authorities. Further, the growing online and offline campaign has promoted the sales volumes of eggs in recent years. Several large-scale packaging vendors in the egg industry are increasing their focus on providing beautiful packaging designs to hypermarket and supermarket shoppers across US and Canada. And the growing consumption of egg-based food products in retail and processed food segments are expected to drive the demand for egg packaging materials across all parts of the US.
Segmentation by Geography
• North America
o US
o Canada
• Europe
o Russia
o Turkey
o Germany
o UK
o France
o Italy
o Poland
o Czech Republic
o Hungary
• APAC
o Japan
o China
o India
o South Korea
o Australia
o New Zealand
• Latin America
o Brazil
o Mexico
o Argentina
• Middle East & Africa
o Iran
o Saudi Arabia
o South Africa
o UAE
VENDOR LANDSCAPE
Stringent regulations and the increasing emphasis on sustainable development have driven the growth of the global egg packaging market. However, with growth, competition is also increasing rapidly across several emerging economies worldwide. Local vendors and well-established industry leaders face intense competition in the global egg packaging market. The increasing automation and centralization of the egg carton and trays making process are also responsible for the cutthroat competition for a larger industry share.
Vendors are trying to improve their industry share by increasing production capacity and launching new products to expand their market base and grow their geographical reach during the forecast period. Hartmann, Huhtamaki, DFM Packaging Solutions, and Omni-Pac Group are among the key vendors in the global egg packaging market. To make the most of the opportunities, most egg packaging vendors have shifted their focus more on the growth prospects in the fast-growing segments and maintained their positions in the slow-growing segments worldwide.
Key Vendors
• Hartmann
• Huhtamaki
• DFM Packaging Solutions
• Omni-Pac Group
Other Prominent Vendors
• CKF
• Jin Fu Hua Packaging (JFH)
• Mauser Packaging Solutions
• Dispak
• Ovotherm International Handels
• Pactiv
• Packman Packaging
• Maspack
• Sampuran Packaging
• GI-OVO
• Falcon Packaging
• Europack
• TekniPlex
• International Paper
• Zhytomyr Cardboard Factory
• Cascades
• Korrex
• ACEBRI
• KSP Fiber
• Maharashtra Polymers
KEY QUESTIONS ANSWERED
1. How big is the egg packaging market?
2. What is the growth rate of the global egg packaging market?
3. What are the rising trends in the egg packaging market?
4. Who are the key players in the global egg packaging market?
5. Which region holds the leading global egg packaging market share?
Read the full report: https://www.reportlinker.com/p05955550/?utm_source=GNW
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