The growing inclination towards healthy and plant-based diets and other major driving factors is expected to favor the rise in the global egg replacement ingredient market
Reports and Insights has published a new report titled, “Egg Replacement Ingredients Market: Opportunity Analysis and Future Assessment 2022-2030”
The egg replacement ingredients market is estimated to reach at a value of US$ 1,170.2 Mn by the end of 2022 and expected to reach at a value of US$ 1,863.1 Mn by 2030 with a significant CAGR of 6.0%.
Global Egg Replacement Ingredient Market, By Ingredient (Milk Protein Formulation, Algal Flour, Proteins), By Application (Chocolates, Biscuits & Cookies, Cakes, Mayonnaise, Noodles & Pasta), By End Use (Commercial, Large Scale Food Manufacturers, Small Scale Food Manufacturers), By Form (Liquid, Powder) and By Region (North America, Europe, Asia Pacific, Latin America, Middle East, & Africa) is expected to grow at a significant CAGR for the period between 2022 and 2030.
Egg replacement ingredients majorly serve its utility as an alternative of egg and lessen the egg content without compromising the nutritional perks and taste of the food. Egg replacement ingredients are generally developed by several different food constituents such as milk, food starch, soya-based milk and much more. Egg replacement ingredients offer similar health and nutritional advantages as eggs.
An egg, as we are all aware, is a highly rich source of vitamin, protein, and other minerals which can be found on other food products like mashed banana, applesauce, silken tofu, ground flaxseeds, and many more. There are a number of reasons why end-consumers are drifting towards the egg replacement ingredients such as, egg allergy, inclination towards vegan diet, or egg consumption often associated with heart disease and many more. Owing to said reasons, egg replacement ingredients are witnessing higher demand all across the global markets, thereby projected to accelerate the market growth in the forthcoming future.
In addition to that, there are other major factors including the egg shortage crisis on account of avian influenza, which is projected to offer major breakthroughs to the growth of the global egg replacement ingredients market over the following years. For instance, 48.1 million of hens, turkeys and other birds were killed due to H5N2 virus (avian flu) in the U.S., back in 2015.
Moreover, the growing consumption of plant-based ingredients among the population attributing to its more nutritional benefits in comparison to gluten, dairy, and non-veg based foods is further anticipated to propel the growth of the global egg replacement ingredients market over the forecast period.
Reports and Insights Study identifies some of the key participating players in the egg replacement ingredient market globally 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, among others.
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