Egg Replacement Ingredients Market Size Analysis
According to a research survey conducted by ChemView Consulting, in 2022, the Global Egg Replacement Ingredients Market was worth US$ 1,209.9 Mn and is expected to grow at a CAGR of 6.1% over the forecast period. The market is expected to hit US$ 1,943.1 Mn by 2030 end.
Egg replacement components are used to replace eggs and lower egg content without impacting the taste or nutritional value of the product. Egg replacement components are made up of numerous food ingredients such as food starch, milk, soya-based milk, and so on.
Egg substitute components have similar nutritional and physiological advantages to eggs. Eggs are high in protein, vitamins, and minerals, which may also be found in applesauce, mashed bananas, crushed flaxseeds, silken tofu, and other foods.
Consumer demand, enhanced food safety, allergy reduction, simpler handling and storage, reduced price, and environmental sustainability are all reasons for employing egg substitutes.
RAISING CONSUMER AWARENESS REGARDING THE NUTRITIONAL BENEFITS OF EGGS SUBSTITUTE DRIVES THE MARKET
The high demand for egg replacement components might be ascribed to baking technology and recipe developments. Eggless baking has recently gained popularity. The general public’s desire to adopt a vegan lifestyle has fueled the expansion of the worldwide egg substitute ingredients industry.
The growing popularity of egg substitute components in the food business can also be attributable to shifting medical and healthcare narratives. Patients with high cholesterol levels should limit their consumption of yolk.
People with heart problems and conditions should limit their use of egg products. As a result, the worldwide egg replacement ingredients market is likely to continue on a profitable path in the coming years.
HIGHER PRODUCT COSTS HAMPER THE MARKET GROWTH
The increasing cost of the end product and the fact that egg replacement components do not have the same flavor impact as eggs are anticipated to limit the worldwide egg replacement ingredient market’s growth throughout the projected period.
The COVID-19 epidemic’s influence on people’s emotional and physical well-being made them more concerned about their health and well-being. Customer expenditure on food goods increased throughout the epidemic. Furthermore, demand for egg substitutes surged due to transportation constraints and supply scarcity at retail stores.
Why are Milk Protein Ingredients type Egg Replacement Ingredients projected to have the highest CAGR?
Milk protein accounts for a sizable portion of the market because it is high in nutrients and has egg-like properties. In recent years, the use of milk proteins as emulsifiers, binders, and leavening agents in various baking, sauce, and dressing applications has increased significantly, supporting the Egg Replacer market expansion.
Why is it projected that the mayonnaise application category would grow the quickest throughout the projection period?
The mayonnaise sector is expected to account for 38.5% of the worldwide egg replacement ingredient market by the end of 2021. Because of the unexpected and sudden drop in egg supply caused by avian flu, several manufacturers of mayonnaise dressings have received requests to introduce stabilisers to replace eggs in mayonnaise.
Though manufacturers in the egg replacement ingredients market find it difficult to restore the functionality of eggs in mayonnaise-type dressings, they are persistent in developing stabiliser systems to replace the required texture and emulsification properties.
As a result, demand for egg replacement ingredients is expected to rise, bode well for overall market growth.
The regions analyzed for the market include North America, Europe, Latin America, Asia Pacific, Middle East, and Africa.
The vendors in the worldwide egg replacement ingredients market serve a niche market. This issue reduces the firms’ market share and forces them to rely on other revenue sources. Market vendors are targeting several domains within the food business in a staggered way. Beginning with eggless baking ingredients, these merchants have expanded into various other areas of the food sector.
Some of the key developments that have taken place in the Egg Replacement Ingredients Market include:
A list of some of the key suppliers present in the market are:
Market Segments Covered in Report
By Region and Country:
Global Egg Replacement Ingredients Market 2022-2030: Report Coverage and Highlights
|Historical data available for||2017-2021|
|Market analysis||USD Billion for Value and Tons for Volume, and CAGR from 2022 to 2030|
|Key regions covered||North America, Latin America, Europe, Asia-Pacific, Middle East, and Africa|
|Key countries covered||US, Canada, Brazil, Mexico, Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Saudi Arabia, Turkey, UAE, South Africa, Nigeria, Egypt|
|Key segments covered||By Ingredient, Application, Form, End-Use, and Region|
|Customization scope||Available upon Request|
|Pricing and purchase options||Available upon Request|
Market Size Data
Value Chain Analysis
North America: U.S., Canada
Latin America: Brazil, Mexico, Argentina, Central America, Rest of Latin America
Western Europe: Germany, Italy, France, UK, Spain, Poland, Romania, Rest of Western Europe
Eastern Europe: Russia & Belarus, Balkan Countries, Baltic Countries, Central Asia, Rest of Eastern Europe
Middle East & Africa: KSA, UAE, Turkey, Israel, Northern Africa, South Africa, Rest of Middle East & Africa
East Asia: China, Japan, South Korea
South Asia & Pacific: India, ASEAN, Australia & New Zealand, Rest of South Asia & Pacific
Why Choose CVC Market Research?;
In the forecast period between 2022 and 2030, the market is expected to grow at a CAGR of 6.1%.
The high demand for egg replacement components might be ascribed to baking technology and recipe developments.
Major global Egg Replacement Ingredients Market players are Corbion NV, Glanbia Plc, Tate & Lyle Plc, Ingredion Incorporated, Ener-G Foods, Inc., Natural Products, Inc., Orchard Valley Foods Limited, Puratos Group, TerraVia Holdings, Inc. and Archer Daniels Midland Company.
Global egg makers face several challenges linked to egg production, including handling and storage, allergy segregation and cleaning, pricing, sustainability, etc. These factors hamper the market growth.
The North America region is expected to account for the largest market revenue share in the Global Egg Replacement Ingredients market.
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