Increased Consumption of Eggs along with the Sustainable and Recycled Packaging Solutions is Propelling the Market Growth. FMI taps a CAGR of 6.2% for 2023 to 2033. The United States egg packaging market is thriving at an average CAGR of 4.2% between 2023 and 2033
DUBAI, United Arab Emirates, March 22, 2023 (GLOBE NEWSWIRE) -- The global egg packaging market is anticipated to expand its roots at a steady CAGR of 6.2% between 2023 and 2033. The market is anticipated to cross a market share of US$ 13.18 billion by 2033 while it is likely to be valued at US$ 7.22 billion in 2023.
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Sustainable packaging solutions with bio-degradable egg trays and egg cartons are gaining traction in the market. Furthermore, the increased number of home-based bakeries is flourishing the demand for eco-friendly egg packaging material.
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Recycled and recyclable egg containers are also getting popular among aware people. The government projects to save the environment and soil from chemical-based plastic packaging are giving molded fiber segment a push in the market.
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The increased number of people getting into the gym and following a protein-rich diet is garnering the sales of eggs. Hence, this factor also fuels the demand for sustainable egg packets.
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Egg packaging market’s growth trajectory is significantly affected by the vegan movement and egg alternatives for protein intake and bakery applications.
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Key Points
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The United States market is a significant egg packaging market. The market thrives at a CAGR of 4.2% during the forecast period. The market growth is attributed to the increased demand for eggs as people tend to get into better shape and hence, join a gym. The regional market is anticipated to hold a sales volume of 327,795 units in 2023.
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Canada egg packaging market leads the North American market in terms of CAGR with a leading CAGR of 5.4% between 2023 and 2033. The regional growth is attributed to climate-aware citizens and innovative egg packaging ideas. The market is expected to hold a sales volume of 30,031 units in 2023.
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The molded fiber segment is likely to thrive in the material type category as it records a CAGR of 6.4% between 2023 and 2033. The growth is attributed to its eco-friendly and biodegradable properties.
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The less than 6 eggs segment is expected to top the capacity category with a CAGR of 6.6% during the forecast period. The growth of this segment is garnered through high household consumption.