Global Egg Replacers Market Size to Exceed USD 3.76 Billion by 2032 | CAGR of 7.64%
Category: Food & BeveragesGlobal Egg Replacers Market Size to Exceed USD 3.76 Billion by 2032
According to a research report published by Spherical Insights & Consulting, the Global Egg Replacers Market Size is to grow from USD 1.8 billion in 2022 to USD 3.76 billion by 2032, at a Compound Annual Growth Rate (CAGR) of 7.64% during the projected period.
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Browse key industry insights spread across 200 pages with 120 market data tables and figures & charts from the report on the Global Egg Replacers Market Size, Share, and COVID-19 Impact Analysis, By Source (Plant, Animal), By Form (Liquid, Powder) By ingredient (Dairy Proteins, Starch, Soy Based Products, Algal Flour & Yeast Extracts, and Others), By Application (Bakery & Confectionery, Savories & Snacks, Sauces & Spreads and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2032." Get Detailed Report Description Here : https://www.sphericalinsights.com/reports/egg-replacers-market
An egg replacer is a substance or combination of ingredients that performs the function of eggs in a recipe, as well as a commercial powdered product designed specifically to replace eggs in baking. These ingredients reduce the egg content of the food without affecting its flavor or nutritional value. As an egg substitute in arrowroot powder, yogurt, applesauce, and other recipes. Egg prices are volatile because of their short shelf life and fluctuating demand, which is related to seasonal egg consumption. They are made from a variety of ingredients, including milk, processed food flour, and so on. Eggs are commonly found in cookies and cakes, chocolate, pastries, bread, noodles and pasta, and mayonnaise. They are commonly used in savory dishes, spreads, and dressings. The egg replacement ingredients are a low-fat or low-cholesterol alternative to whole eggs, making them ideal for consumers who prefer plant-based foods over meat. Some people are unable to consume eggs or egg-based products due to allergies, odors, or tastes. Side effects include skin irritation, stomach pain, vomiting, and nausea. Manufacturers are responding by offering egg-free or egg-free foods.
COVID 19 Impact
Reduced dining out had an impact on food service demand for egg substitutes, affecting industries such as bakery and hospitality. Economic challenges have altered consumer spending patterns, potentially influencing purchases of premium or specialty products such as egg replacers. Delays in regulatory processes and compliance inspections hampered the launch and approval of new egg replacer products. As a result, the reduced number of COVID-19 cases and subsequent strategies implemented by government and non-government organizations are expected to drive market growth.
Market segments
The plant segment dominates the market with the largest revenue share over the forecast period
Based on the source, the global egg replacers market is segmented into plant and animal. Among these, the plant segment is dominating the market with the largest revenue share over the forecast period. As a result of rising consumer demand, plant-based products have a large market share. The use of plant-based egg replacement in foods allows food manufacturers to customize their products to the needs of consumers, fuelling the market growth.
The liquid segment is witnessing significant CAGR growth over the forecast period.
On the basis of form, the global egg replacers market is segmented into liquid and powder. Among these, the liquid segment is witnessing significant growth over the forecast period. The liquid eggs industry is being propelled by rapid urbanization and changing lifestyle habits. Liquid eggs are a more convenient and healthier alternative to shelled eggs. To facilitate transportation and handling, liquid eggs are packaged in easy-to-use forms. They have also reduced breakage waste. The substance is also found in cosmetics, personal care items, and animal feed. As the population grows, so will the demand for the product.
The dairy protein segment is expected to hold the largest share of the global egg replacers market during the forecast period.
Based on Ingredients, the global egg replacers market is classified into dairy protein, starch, soy-based products, algal flour & yeast extracts, and others. Among these, the dairy protein segment is expected to hold the largest share of the egg replacers market during the forecast period. As a result, it is high in nutrients and has egg-like properties, milk protein has a significant market share. Milk proteins are increasingly being used as emulsifying bindings and leavening agents in a variety of bakery, sauce, and dressing applications, which supports the growth of the egg replacer market.
The sauces & spreads segment accounted for the largest revenue share over the forecast period.
On the basis of application, the global egg replacers market is segmented into bakery & confectionery, savories & snacks, sauces & spreads, and others. Among these, the sauces & spreads segment dominates the market with the largest revenue share over the forecast period. Sauce makers are becoming more inventive with their sauces, sometimes incorporating exotic herbs and spices, sometimes reducing energy, and sometimes involving plant-based alternatives. Owing to its superior emulsification and essential qualities, the sauces and spreads segment holds a significant market share. It has a wide range of applications, which propels the egg replacers market forward. The sauce industry is undergoing significant transformation prompted by changes in consumer preferences and demand for healthier and more natural options.
Asia Pacific dominates the market with the largest market share over the forecast period.
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Asia Pacific dominates the market with the largest market share over the forecast period. The low cholesterol benefits that egg replacers provide, as well as the growing demand for them in the savory and bakery industries, are driving this trend. With the increase in heart disease and increased concern about the negative effects of eggs, China is expected to lead the Asia-Pacific market for egg replacers for the next five years. However, some consumers feel unsatisfied with the taste and variety of egg replacers on the market and have a dismissive attitude toward their products, which could restrict market growth in the future.
North America, on the contrary, is expected to grow the fastest during the forecast period. Increasing consumer purchasing power and acceptance of vegan products. At the same time, as chronic illnesses persist across the continent, the United States is experiencing the most growth due to rising nutrition demand. Given that eggs' high cholesterol content can stymie product acceptance in this region, substituting plant-based alternatives can appeal to health-conscious consumers. As a result, people embrace more affordable and convenient market options, as well as increased modernization in the North American region, driving market growth in the egg replacers market.
Major vendors in the global egg replacers market are Corbion, Puratos, Tate & Lyle PLC, Glanbia PLC, E.I. Dupont De Nemours and Company, Cargill, Florida Food Products, LLC, Fiberstar, Inc., Danone Nutricia, MGP Ingredients, Ingredion Inc., and others.
Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Recent Developments
- In March 2022, EVERY Company presents the world's first egg white made without the use of a chicken.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2032. Spherical Insights has segmented the global egg replacers market based on the below-mentioned segments:
Egg Replacers Market, Source Analysis
- Plant
- Animal
Egg Replacers Market, Form Analysis
- Liquid
- Powder
Egg Replacers Market, Ingredient Analysis
- Dairy Proteins
- Starch
- Soy-Based Products
- Algal Flour & Yeast Extracts
- Others
Egg Replacers Market, Application Analysis
- Bakery & Confectionery
- Savories & Snacks
- Sauces & Spreads
- Others
Egg Replacers Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
About the Spherical Insights & Consulting
Spherical Insights & Consulting is a market research and consulting firm which provides actionable market research study, quantitative forecasting and trends analysis provides forward-looking insight especially designed for decision makers and aids ROI.
Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements.
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