What is the global market size of Egg Replacement Ingredients Market?

Global Egg Replacement Ingredients Market size was valued at USD 1141.33 million in 2021 and is poised to grow from USD 1202.53 million in 2022 to USD 1817.7 million by 2030, growing at a CAGR of 5.3% in the forecast period (2023-2030).

What is the key driver of Egg Replacement Ingredients Market?

The market is expanding as a result of the widespread desire to adopt a vegan lifestyle. Food manufacturers are concentrating on catering to the widespread demand for egg-free products and vegetarian eating habits. One of the primary reasons for the growth of the market for egg replacement ingredients is the shift in medical and healthcare narratives, as patients with high cholesterol are advised to avoid eating egg yolks. Market expansion is likely to be fueled by the avian influenza egg shortage crisis, rising demand for plant-based ingredients, and rising egg prices.

Global Egg Replacement Ingredients Market Size, Share, Growth Analysis, By Type(Bakery & confectionery, mayonnaise & sauces), By Application(Liquid and powder form), By Form(Plant and Animal) - Industry Forecast 2024-2031

Report ID: SQMIG30C2066 | Region: Global | Published Date: February, 2024
Pages: 242 | Tables: 86 | Figures: 75

Global Egg Replacement Ingredients Market Insights

Egg Replacement Ingredients Market size was valued at USD 1141.33 million in 2019 and is poised to grow from USD 1202.53 million in 2023 to USD 1817.7 million by 2031, growing at a CAGR of 5.3% in the forecast period (2024-2031).

Due to consumers' growing awareness of the importance of preventative healthcare and rising egg prices, the market has experienced unprecedented expansion over the past few years. Due to the fact that the egg substitute ingredients in food do not affect the taste or final appearance of products made with egg substitutes, it is anticipated to gain traction quickly during the study period. The widespread use of egg replacement ingredients in baked goods like ice cream, cakes, mayonnaise, chocolates, and other baked goods will increase the market share of vegan egg replacement ingredients. Due to a wide range of applications, including egg replacements for pancakes, egg replacements for cookies, and baking, the market is expected to grow steadily. Because of these concerns about eggs, there is now a whole new category of egg ingredients devoted to finding egg substitutes that are both useful and affordable. The finished food product's quality and cost savings are just two of the many advantages of these ingredients. Better health opportunities may be available to consumers thanks to the ingredients in egg substitutes. It can also be a healthy alternative for vegans and other individuals with special dietary restrictions or ethical concerns.

US Egg Replacement Ingredients Market is poised to grow at a sustainable CAGR for the next forecast year.

Global Egg Replacement Ingredients Market Report Snapshots

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FAQs

In the years to come, the market for egg replacement ingredients is expected to grow at a phenomenal rate. The vendors in the global market for ingredients for egg replacement cater to a very specific market. Companies are forced to turn to subordinate methods of revenue generation as a result of this factor, which reduces their share of the market. Despite this, the leading vendors in the global market are seeing an increase in their growth index. 'Ingredion Inc.', 'Cargill, Inc.', 'Archer Daniels Midland Company', 'Ener-G Foods Inc.', 'Glanbia plc', 'Corbion NV', 'Tate & Lyle PLC', 'DuPont de Nemours, Inc.', 'Puratos Group NV', 'Kerry Group plc', 'Koninklijke DSM N.V.', 'Fiberstar, Inc.', 'MGP Ingredients, Inc.', 'DowDuPont Inc.', 'TerraVia Holdings, Inc.', 'The Scoular Company', 'Arla Foods amba', 'Euroduna Food Ingredients GmbH', 'Suedzucker AG'

The market expansion is likely to be hampered in large part by the increased cost of the finished product. It is anticipated that the market's propulsion will be slowed during the forecast period due to the fact that the rural population is unaware of such treatments and has very limited access to them.

The market is expected to grow at a phenomenal rate in the years to come. The majority of people prefer cheese-based products, so restaurant and café menus no longer feature eggs. In addition, cafes that promote healthy eating have begun offering egg-free ingredients to customers who prefer to consume only green products. As a result, the global market for egg replacement ingredients is expected to see an increase in sales. Another important trend that has pushed sales across the global market is the popularity of luxury foods. Additionally, eggless substitute ingredient sales through online retailers have established themselves as a long-lasting trend. E-commerce is being used by a number of department stores and outlets to increase sales of egg replacement ingredients. It is safe to say that the global market is expected to grow in size in the future.

North America is projected to dominate the global egg replacement ingredients market. increasing food and beverage industry demand for plant-based ingredients. Market expansion is driven by the country's adoption of an interpersonal diet and the presence of a food processing sector that is technologically adept. Millions of chickens have been killed as a result of huge losses caused by a highly pathogenic strain of avian influenza, paving the way for the use of egg substitute ingredients. This is the reason that are north America is dominating the market.

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Global Egg Replacement Ingredients Market Size, Share, Growth Analysis, By Type(Bakery & confectionery, mayonnaise & sauces), By Application(Liquid and powder form), By Form(Plant and Animal) - Industry Forecast 2024-2031

Global Egg Replacement Ingredients Market Insights

Global Egg Replacement Ingredients Market Report Snapshots

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What is the global market size of Egg Replacement Ingredients Market?

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What is the key driver of Global Egg Replacement Ingredients Market?

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