Despite the continuous challenges with COVID-19, we have stayed on track from our intentions which I wrote about in the THORNICO newsletter from late last year - Read the executive statement from CEO, Jørn Frandsen here.
Truffle, mushroom, broccoli and chilli flavours in your egg products? Here is an overview of the latest Egg trends according to Innova Market Insights.
Over the last five half years, semi-annual launches recorded a growth of CAGR 4%. The market achieved its strongest performance in H2 2019 when it grew by 12% over its previous half year and its weakest performance in H2 2018 when it decreased by -12% over H1 2018.
Egg trends in the region
Europe: Europe with a 35% share, is the most active region for egg and egg products new product developments (NPD's) in 2019. The majority of products are concentrated in Western Europe. Demand for frozen options, organic offerings, free from launches (gluten, sugar), formulations suitable for desserts, sauces and baking recipes (pasteurized eggs), and focus on heritage breeds are backing innovation.
Asia: registered the highest growth in the last three years with a CAGR of 24.4% for egg and egg products launches. The choice for organic eggs among large urban population, finely baked eggs (eggs baked in elvan stone), regional favourite recipes (salted eggs, Japanese fried omelette, preserved egg intestines), and diverse formats (frozen, powder, cooked) are positively impacting growth of sales value in the region.
North America: recorded the highest growth in sales value during 2017 to 2019.
North America/Australia/New Zealand: Preference for free range jumbo eggs, formulation fortified with functional elements (omega-3), pasteurized large eggs, snacks varieties (bacon and cheese egg bites), free-run, 100% egg white liquids variety is driving innovation in North America and Australia/New Zealand during H2 2019.
Middle East/North Africa: Low innovation and value growth markets
7 Egg trends highlight
- Organic is the most prominent claim in North America, Europe and the Middle East/North Africa
- Indulgent, premium, natural, low/no/reduced cholesterol among fast growing claims in H2 2019
- Expanding interest in organic and free-range eggs as well as premium quality products fortified with vitamins and minerals (selenium, Vitamin E)
- Growing interest in ready to eat traditional recipes and various types of eggs (duck, quail, salted)
- More shelf-able eggs are on the rise
- Interesting breakfast blends (steamed egg with fermented fish)
- Top 5 flavours in NPD's H2 2019 are: Onion, spinach, soy, chorizo and soy. Apart from the top 5 flavours, truffle mushroom, broccoli, chilli, fish, jalapeno chilli, beef, asiago cheese are the other flavours growing in popularity in H2 2019
OVODAN egg products
OVODAN’s Egg Powders offer a unique combination of convenience, functionality & Stability. See the OVODAN product range here
We are almost halfway through 2021, and it is time to take a step back and elaborate with a clear perspective of this year to date. AND now is the time to consider how we can position OVODAN for the times to come - CEO, Henrik Pedersen.
Backed by a new Austro-German distribution and salesforce agreement, MÄT extends its existing license with Playmobil, adding the market rights to co-brand MÄTs organic Dino snacks and cereals with the brand-new Dino Rise toy range from Playmobil.