Egg Tray Market size to grow by USD 2.92 billion from 2022 to 2027, Technavio

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Mar 28, 2024, 23:36 ET

NEW YORK, March 28, 2024 /PRNewswire/ -- The global egg tray market size is projected to witness substantial growth in the coming years, with a forecasted increase of USD 2,923.83 million at a Compound Annual Growth Rate (CAGR) of 4.2% from 2022 to 2027. This surge is attributed to various factors including heightened egg production, burgeoning demand from the Asia-Pacific (APAC) region, and a growing preference for paper egg trays.

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Technavio has announced its latest market research report titled Global Egg Tray Market 2023-2027

Market Size and Segmentation:

The egg tray market is segmented based on distribution channel (offline and online), material (plastic and paper), and geography (APAC, North America, Europe, South America, and Middle East and Africa). The offline segment, encompassing specialty stores, hypermarkets, supermarkets, convenience stores, and department stores, is anticipated to witness significant growth during the forecast period. Factors such as increased store numbers and business expansions are driving the demand for egg trays in retail outlets.

Market Dynamics:

The primary driver of market growth is the escalated production of eggs, owing to factors such as rising population, increased purchasing power, and broader acceptance of eggs as a staple food item. Eggs, being rich in protein, minerals, and vitamins, are widely consumed across demographics, contributing to their popularity as a breakfast option and in various cuisines worldwide. Additionally, rising consumer awareness regarding food selection and environmental concerns is shaping market trends, with a preference for eco-friendly packaging materials.

Challenges:

Despite the promising outlook, challenges persist in the form of health hazards within the egg industry, notably avian influenza (bird flu). Disease outbreaks can lead to reduced egg production, impacting packaging companies and hindering market growth. However, efforts to address these challenges through strategic alliances, partnerships, and product innovations are underway among market players.

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Regional Insights:

The Asia-Pacific region is poised to dominate the global egg tray market, accounting for approximately 60% of its growth during the forecast period. Factors driving this dominance include the presence of multinational and local players, technological innovations in production, and a rising demand for protein-rich diets. Moreover, the region's large population, particularly the young demographic, contributes to significant egg consumption, supported by increasing purchasing power and health consciousness among consumers.

Key Players:

The competitive landscape of the egg tray market features key players such as D&W Fine Pack, Al Ghadeer Group, Brodrene Hartmann AS, and others. These companies are adopting strategies like mergers, acquisitions, and geographical expansions to strengthen their market presence and cater to evolving consumer preferences.

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The global egg tray market is on a trajectory of growth, driven by factors such as increased egg production, expanding APAC demand, and a shift towards eco-friendly packaging solutions. Despite challenges posed by health hazards, the market remains dynamic with opportunities for innovation and collaboration among industry stakeholders.

Analyst Review

The egg tray market is a dynamic sector characterized by a variety of players, both multinational giants and local vendors, catering to the diverse needs of consumers across the globe. With the increasing prevalence of health awareness and the rise of protein-based diets, the demand for eggs and egg products has surged, propelling the growth of the egg tray market. This growth is particularly pronounced in developing economies where modernization and evolving dietary patterns are driving consumption.

Market analysis reveals a complex landscape, with companies like Al-Ghadeer Group, Brødrene Hartmann A/S, Cellulose de la Loire, GI-OVO B.V, GREEN PULP PAPER INDUSTRY SDN.BHD., and Huhtamäki among the key players vying for market share. Multinational players such as BWAY Corporation and Reynolds Group Holdings Ltd. compete alongside local vendors like KK Traders, CRB Ventures Private Limited, and Sri Mallikarjuna Poultry Equipments.

Various types of egg trays are prevalent in the market, including plastic, square-shaped paperboard, and paper egg trays, catering to different needs and preferences. Liquid egg products, dried egg products, and frozen egg products also contribute significantly to market demand, each requiring specialized packaging solutions such as shipping cases, crates, and square-shaped paperboard trays.

Research and development activities play a crucial role in driving innovation and meeting evolving consumer expectations. Key trends such as the adoption of sustainable packaging materials and advancements in packaging technology shape the competitive landscape. Companies invest in data collection modules and market statistical models to understand consumer behavior and preferences, facilitating informed decision-making.

The market is not without challenges, as external factors like dampness, light exposure, and other harmful conditions can affect the quality of eggs and egg products during storage and transportation. Moreover, emerging economies present both opportunities and challenges, with evolving regulatory landscapes and shifting consumer preferences.

In conclusion, the egg tray market is a vibrant and competitive sector driven by factors such as health awareness, dietary trends, and technological advancements. Companies leverage research methodologies, data mining techniques, and primary validation to stay ahead in this dynamic market, striving to meet consumer demands while navigating the complexities of global and regional dynamics.

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Market Overview

In the dynamic landscape of the Egg Tray Market, a comprehensive analysis is vital to navigate the diverse factors influencing its trajectory. A Vendor Positioning Grid sheds light on multinational players' strategies juxtaposed against local vendors, reflecting evolving dynamics. Market Time Line Analysis tracks the evolution, highlighting shifts in consumer preferences and technological advancements. Standards of Measurement ensure accurate assessments, crucial for Company Market Share Analysis. Global versus Regional insights delineate market nuances, crucial for informed decisions. Developing economies present untapped potential, driven by rising health awareness fueling demand for protein-rich diets. A holistic approach, integrating Company Positioning Grid and Vendor Share Analysis, unveils strategic opportunities in this burgeoning sector. This guide equips stakeholders with actionable insights for navigating the dynamic Egg Tray Market landscape.

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Related Reports:

The plastic-based egg packaging market size has the potential to grow by USD 772.76 million during 2020-2024, and the market's growth momentum will accelerate during the forecast period. This report provides a detailed analysis of the market by product (tray and carton) and geography (APAC, Europe, MEA, North America, and South America).

The egg protein market size is expected to increase to USD 7.95 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 5.05%. Furthermore, this report extensively covers egg protein market segmentation by type (whole egg protein, egg yolk protein, and egg white protein) and geography (North America, APAC, Europe, South America, and Middle East and Africa). The health benefits of egg protein is notably driving the egg protein market growth.

Table of Contents:

1 Executive Summary
2 Landscape
3 Sizing
4 Historic Size
5 Five Forces Analysis
6 Segmentations
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Vendor Landscape
11 Vendor Analysis
12 Appendix

About US
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio