The "Egg Replacement Market" is estimated to reach a CAGR during the forecast period 2022-2029.
Egg replacement ingredients allow for the substitution or reduction of egg content in meals without compromising the final product's taste or appearance. These components may be found in a variety of goods, including cakes, muffins, mayonnaise, chocolates, custard, ice cream, and biscuits. These products don’t replace the nutrition lost through whole eggs, including protein, vitamin D, and Choline.
Due to significant price increases and supply constraints in the egg markets, food producers reduced egg quantity in recipes to reduce recipe costs. During the projected period, egg shortages owing to different bird flues and an increase in demand for natural substances with comparable egg characteristics contribute to the growth of the egg replacement market. The worldwide egg replacement ingredient market is expected to develop at a faster rate during the forecast period, thanks to rising consumer knowledge about preventative healthcare and a preference for low-cholesterol goods. The growing vegan population and rising demand for bakery products with zero egg content boost the egg replacement market during the forecast period. According to a survey published in Health careers, more than 39% of people in the United States are beginning to incorporate vegan cuisine into their meals. Vegans in Europe have increased from 1.3 million to 2.6 million in the previous four years, accounting for 3.2% of the population. According to multiple studies, it has been found that vegans live approximately 15 years longer than meat-eaters. Reduced risk of heart disease and other major diseases, as well as the capacity to lose weight, are important reasons for the global vegan population's increase.
However, rising end product costs and the fact that egg replacement components don't have the same flavor as eggs are expected to limit the worldwide egg replacement ingredient market's expansion throughout the projected period.
Due to Covid 19, there has been a constant disruption in the demand and supply of eggs. Trade has been halted on a global scale that has created a shortage of eggs. This has made an opening for the egg replacement market which would drive it ahead. Also, since there is a shortage of eggs, people may try to hoard them but eggs do not have a long shelf life. Whereas egg replacements have a longer shelf life than normal eggs. This will drive the market ahead. Thus, we can say Covid 19 has had a positive impact on the egg replacement market.
The global egg replacement market is segmented by application into bakery & confectionery, mayonnaise, noodles & pasta, etc.
By application, the baking & confectionery category is expected to be the largest market for egg replacers. The baking and confectionery industry is projected to boost demand for egg replacer products due to various functional features such as improved binding, emulsification, foaming, and taste enhancement. Furthermore, owing to the increased threat of avian flu-affected eggs among customers in key geographical regions such as North America and Europe, bakery manufacturers were allowed to use egg replacer goods.
By region, the global egg replacement market is segmented into North America, South America, Europe, Asia-Pacific, Middle-East, and Africa.
North America is expected to dominate the global egg replacement market during the forecast period due to the huge presence of a vegan or vegetarian population and growing consumption of egg replacement among major food processors to meet demand from various consumers. In 2018, North America had a share of 44% in the egg replacement market. According to the study published by Economistcorrespodent in 2019, more than a quarter of 25-34-year-old Americans are either vegetarian or vegan. High disposable wealth might be a major element driving demand for egg replacements in North America. Increased knowledge of the negative consequences of excess cholesterol on the human body is expected to drive demand for egg replacements in North America.
The companies focus on developing innovative egg replacements to improve their market presence and cater to the rising demand from specific industries such as bakery and confectioneries for vegan ingredients. Some of the key players in the global egg replacement market include Ener-G Foods, Inc., Arla Foods Ingredients Group P/S, DuPont Nutrition & Biosciences, are among many others.
DuPont Nutrition & Biosciences
Nutrition & Biosciences is a company that focuses on innovative and sustainable solutions across the food, health, pharma, and biotech industries. DuPont partners with customers through powerful and market-oriented platforms, Nutrition & Biosciences brings a wealth of formulation expertise and manufacturing experience to deliver solutions and drive innovation.
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