- Global Egg packaging market is expected to grow at a healthy CAGR during 2018-2028.
- Egg consumption around the world is growing, particularly in emerging markets.
- Rising need for cost efficiency in the egg packaging market will be one of the major factors that is positively impacting the growth of the egg packaging market.
Egg packaging started in the early 20th century at the time when preserving eggs was a hard job for people. In 1911, an editor of newspaper, Joseph Coyle designed a product named the Coyle Egg-Safety Carton. The carton has transformed the egg packaging market. In this era, the egg cartons have emerged a lot and they are produced by keeping in mind the environmental issues. Every egg packaging producer does know about what raw materials to use and which will protect the eggs. Producers keeps all the factor in their mind at the time of designing the egg packaging.
What Factor Will Drive the Egg Packaging Market?
Rising need for cost efficiency in the egg packaging market will be one of the major factors that is positively impacting the growth of the egg packaging market. Vendors are continuously concentrating on strategies to earn maximum profit in the market. Egg packaging companies to increase profitability and lower production costs follow strategies such as the implementation of advanced cost-effective product designs, reduction in machine set up time, and production line rationalization. Companies are also looking at increasing their cost efficiency by starting new operations in different regions. This will help in saving transportation cost and delivery time.
The packaging industry across the globe has experienced rapid growth and due to the fact that the egg packaging market has featured a noteworthy growth in the past few years. The egg packaging market has grown significantly owing to the ease in transportation and conveying of eggs with proper egg packaging. Egg packaging manufacturers have presented several innovations and thoughts for the protected transportation of eggs.
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Moreover, rapid industrialization, substantial transformation in the lifestyle, suitability of developing regions, and increase in disposable income of people are the aspects that are boosting the demand of the egg packaging market. When eggs have to be stored in large amount then egg packaging designed from paper are used since they are cost effective and recyclable. This has generated huge amount of request for the egg packaging market. But, differing price of raw materials and extreme competition amongst the producers may hinder the development of the egg packaging market.
Which Region is Projected to Lead the Egg Packaging Market? And, Why?
North America is highly dominating the market this is due to the U.S. based company called Goldstein Research at present has a robust existence in the Asian and American economies. Also, in the forthcoming years, their goal is to expand their reach to 50+ economies across the globe. They want to establish a strong presence of brand worldwide through their quality and R&D solutions.
Lastly, it’s not enough to be in trend but packaging manufacturer have to keep coming with new concepts and designs to set them unique from the rest of the competitors. People want to experience new different and more safe products handling their egg products. Egg packaging is a continuously evolving market, and we can’t wait to see what is next on the packaging agenda.