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Egg powder Another economic giant sleeping in Nigeria - Business - Nairaland

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Egg Powder Can Generate $1billion Annually For Nigerian Poultry Farmers / Egg Powder Can Generate $1billion Annually For Nigerian Poultry Farmers / Largest Egg Powder Plant In Africa To Be Inaugurated In Ondo (2) (3) (4)

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Egg powder Another economic giant sleeping in Nigeria by Nobody: 5:30pm On May 31, 2020
LAGOS, Nigeria – All over Nigeria there are poultry farmers who are dedicated to meeting the nations need for chickens and eggs. For those who don’t know, Poultry keeping is both an art and science. It is the art of raising and rearing domestic birds of all kinds (chickens, ducks, turkeys and other fowl) for the purpose of meat, eggs and other byproducts derivable from poultry.

Egg is a highly nutritious product. Eggs are rich in protein, vitamins and minerals. The poultry sector in Nigeria has made tremendous progress in the last decade. It has grown into an organized and highly productive industry.

Nigeria, according to data from the Poultry Association of Nigeria (PAN) is the largest producer of eggs in Africa, with 10.3 billion eggs produced annually. And yet confectionery industry in Nigeria spends about $1 billion on importation of powdered eggs into the country yearly while Nigerian poultry farmers usually result to wastage of eggs due to a glut between February and May every year, largely because people tend to consume less egg during this period of the year and there is a short shelf life for eggs as it is mostly consumed during the rainy season.

Egg powder is used in fast food preparations, ice-creams, cakes, cookies, noodles, doughnut etc. In fact it can replace the use of fresh eggs in these food items, which would offer convenience and ease of handling as against shell eggs.

Reports reveal that food processing industries in West Africa spend well over $2 billion annually in imports of egg and milk powder products. With Nigeria’s production capacity, it is surprising that the nation has not taken advantage of this huge market.

Presently there are only two (2) egg powder plants in Nigeria. One is located in Ogun state (Answer Industries Limited- makers of kara-kara) and the other in (Greenfield Assets Limited) in Ondo state. Currently, less than five percent (5%) of the country’s egg powder demand is met by local production. So why is our egg powder production so low?

According to Mr Samuel Shewoniku, Director of Operations, Answer Industry, “ when we started, we wrote letters to major companies, but they are not yet ready for us. We contacted a popular food making company and had several meetings with them, and they came with their teams and looked at our processes, got samples of around 5kg. We got feedback, they tried our products and were satisfied with it. They were skeptical of our capacity to meet their demands.”

Indeed with just two companies producing less than five percent (5%) of the needs of food and confectionery industry in Nigeria, there is an urgent need to look closely at economic benefit of egg powder production.

It is believed that the frequent egg gluts in Nigeria will be minimised if there are many companies producing egg powder and that will trickle down to the poultry industry as well

“As a matter of fact, it won’t just have a positive effect, but multiplier effects. Assuming we have demand, definitely, we would order for eggs. And, if for example, you as our customer produces 50 creates, and we are buying all the creates and still they are not enough for us. And many people are equally buying from you. You would be forced to increase your capacity knowing well that you have a ready market. You will employ more hands. ”, Shewoniku added

A research report by Persistence Market Research gave a snapshot of the global egg powder market, which includes products such as whole egg powder, egg yolk powder, egg albumen powder, and egg powder mix or a blend of egg powder. The report is titled ‘Egg Powder Market: Global Industry Analysis 2012-2016 and Forecast 2017-2025’.

This comprehensive research study reveals that the global market is witnessing maximum demand for egg powder products from the food industry. It also showed the latest trend in growing demand for egg powder products from the bakery and cosmetics industry.

According to the research, the global egg powder market was valued at over US$ 800 million in 2016 and is expected to reach a value of over US$ 1,200 million in 2025. The market is anticipated to grow at a CAGR of 4.5% during the forecast period. Manufacturers are focusing towards producing egg powder or dried egg products, owing to the increasing demand for egg powder in Western European countries and the Asia Pacific region.

The increase in the rate of health conscious people worldwide has helped boost the global egg powder market. Egg powder products also have a longer shelf life, which makes it an obvious choice among people. Another factor helping the market is an increase in the usage of egg powder in meat based products.

As the price of meat keeps increasing, egg powder is considered a good alternative ingredient, as it is a well-known source of protein. This factor is believed to be an important driver in the growth of the egg powder market. With such huge potentials in terms of both the market for the products and it capacity to provide jobs, Nigeria as a nation cannot afford to be left out.

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Re: Egg powder Another economic giant sleeping in Nigeria by Nobody: 6:30pm On May 31, 2020
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